Worth reading
61In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
5.7
Year-on-year change in revenue (%)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)21 March 2026–20 September 2026ConsolidatedJapanese GAAPNet Sales24,909¥ millionYear on year -5.7%Progress 45.3%
Operating profit2,644¥ millionYear on year +9.3%Progress 49.9%
Ordinary income3,004¥ millionYear on year +8.8%Progress 51.8%
Net income attributable to owners of the parent2,428¥ millionYear on year +11.0%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥108.47
Financial position at period-end
Total assets60,475¥ million
of which net assets 45,043 ¥ millionEquity ratio 74.2%vs. prior year-end +5.0pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+5,749,958
Investment-123,733
Financials-4,136,863
Net change+1,489,362
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ thousand).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥9,606,362 thousand
Segment revenueConstruction business ¥24,607 million (YoY -5.7%), Commercial facility operations ¥312 million (YoY +2.4%)
Segment profitConstruction business ¥2,566 million (YoY +9.1%), Commercial facility operations ¥83 million (YoY +22.0%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥55,000 million (YoY +1.2%)
Operating profit¥5,300 million (YoY -1.9%)
Ordinary income¥5,800 million (YoY -5.2%)
Profit attributable to owners of the parent¥5,000 million (YoY +8.9%)
Revision to Earnings ForecastNot disclosed → Net Sales ¥55,000 million (YoY +1.2%) / Operating profit ¥5,300 million (YoY -1.9%) / Ordinary income ¥5,800 million (YoY -5.2%) / Profit attributable to owners of the parent ¥5,000 million (YoY +8.9%)
Annual Dividend Forecast¥60 → ¥91
Factors Behind Changes in Business Performance
Public investment remained firm, while private-sector capital investment also remained solid. At the same time, it cited persistently high construction material prices and labor costs, the worsening labor shortage, uncertainty in overseas economies and geopolitical risks. Under its medium-term management plan, it is also advancing the industrialization of construction, investment in human capital and DX investment.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 None
Changes in the scope of consolidationNo material changes (no newly included or excluded companies disclosed)
Impairment lossNo impairment loss recognized for the interim period (no assets subject to impairment disclosed)
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥43,807 thousand, Gain on sale of investment securities ¥483,237 thousand / Extraordinary loss Loss on sale of non-current assets ¥2,315 thousand, Impairment loss on membership rights ¥630 thousand
Depreciation and amortization¥265,781 thousand
Orders received and order backlogOrders received ¥28,155 million (YoY -7.6%) / Order backlog Not disclosed
Availability of Supplementary Financial Results MaterialsAvailable
Availability of Financial Results BriefingNone
Issued Shares at Period-End24,127,652
Treasury Shares at Period-End1,731,167
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 21 March 2026–20 September 2026 |
| Net Sales | ¥24,909 million (YoY -5.7%) |
| Operating profit | ¥2,644 million (YoY +9.3%) |
| Ordinary income | ¥3,004 million (YoY +8.8%) |
| Profit attributable to owners of the parent | ¥2,428 million (YoY +11.0%) |
| Net income per share | ¥108.47 |
| Equity ratio | End of the current fiscal period 74.2 / End of previous period 69.2 |
| Total assets | ¥60,475 million |
| Net assets | ¥45,043 million |
| Cash flows from operating activities | ¥5,749,958 thousand |
| Cash flows from investing activities | ¥-123,733 thousand |
| Cash flows from financing activities | ¥-4,136,863 thousand |
| Cash and cash equivalents at end of period | ¥9,606,362 thousand |
| Full-year earnings forecast | Net Sales ¥55,000 million (YoY +1.2%) / Operating profit ¥5,300 million (YoY -1.9%) / Ordinary income ¥5,800 million (YoY -5.2%) / Profit attributable to owners of the parent ¥5,000 million (YoY +8.9%) |
| Revision to Earnings Forecast | Not disclosed → Net Sales ¥55,000 million (YoY +1.2%) / Operating profit ¥5,300 million (YoY -1.9%) / Ordinary income ¥5,800 million (YoY -5.2%) / Profit attributable to owners of the parent ¥5,000 million (YoY +8.9%) |
| Annual Dividend Forecast | ¥60 → ¥91 |
| Segment revenue | Construction business ¥24,607 million (YoY -5.7%), Commercial facility operations ¥312 million (YoY +2.4%) |
| Segment profit | Construction business ¥2,566 million (YoY +9.1%), Commercial facility operations ¥83 million (YoY +22.0%) |
| Orders received and order backlog | Orders received ¥28,155 million (YoY -7.6%) / Order backlog Not disclosed |
| Depreciation and amortization | ¥265,781 thousand |
| Impairment loss | No impairment loss recognized for the interim period (no assets subject to impairment disclosed) |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥43,807 thousand, Gain on sale of investment securities ¥483,237 thousand / Extraordinary loss Loss on sale of non-current assets ¥2,315 thousand, Impairment loss on membership rights ¥630 thousand |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement None |
| Changes in the scope of consolidation | No material changes (no newly included or excluded companies disclosed) |
| Availability of Supplementary Financial Results Materials | Available |
| Availability of Financial Results Briefing | None |
| Issued Shares at Period-End | 24,127,652 |
| Treasury Shares at Period-End | 1,731,167 |
| Factors Behind Changes in Business Performance | Public investment remained firm, while private-sector capital investment also remained solid. At the same time, it cited persistently high construction material prices and labor costs, the worsening labor shortage, uncertainty in overseas economies and geopolitical risks. Under its medium-term management plan, it is also advancing the industrialization of construction, investment in human capital and DX investment. |
Items this document does not state (5)
Operating MarginPayout ratioShareholder Return PolicyRegional salesMaterial subsequent events
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Regarding the reasons for revising the full-year earnings forecast and dividend forecast, the company explained that it had "taken into account recent business trends and the outlook going forward, among other factors." It cited a decrease in trade receivables as a factor behind the increase in cash flow from operating activities.
How to read this page
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