Worth reading
72In 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
9.9
Year-on-year decrease in net sales (%)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFirst quarter of fiscal 202613 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥84,922 million-9.9%
Operating profit¥8,481 million-16.2%
Ordinary income¥9,621 million-11.8%
Net income¥6,408 million-28.4%
Gross Profit Margin22.5 %
Operating profit margin10 %
Results for the three months of the current quarter
Net Sales
¥84,922 million
Gross profit
¥19,079 million
Operating profit
¥8,481 million
Ordinary income
¥9,621 million
Net income
¥6,408 million
Full-year earnings forecast
Net Sales
¥440,000 million
Gross profit
¥96,000 million
Operating profit
¥50,000 million
Ordinary income
¥52,000 million
Net income
¥40,000 million
Orders received
¥520,000 million
Order backlog
¥491,574 million
ROE
Approximately 19.0
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales19.3%
Gross profit19.9%
Orders received20.5%
Standalone orders received21.1%
Medium-Term Management Plan KPIs
Number of active sites55%
Reduction in on-site labor hours26%
Units produced35%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Standalone gross profit-¥2,874 million
Standalone SG&A expenses-¥427 million
Operating income at domestic subsidiaries+¥349 million
Operating income at overseas subsidiaries+¥1,229 million
Consolidated adjustments+¥87 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The company qualitatively expects higher productivity, stronger human capital, and solid performance at its domestic and overseas subsidiaries. Numerical assumptions are Not disclosed.New initiatives
- Continue developing and standardizing industrial and data center menus through T-Base®
- Optimize production and supply operations at 6 satellite locations
- Deploy a digital platform for construction sites centered on the equipment and materials information management system
- Use 100% recycled-content aluminum materials in unit production
- Demonstrate and introduce green hydrogen production and utilization facilities
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥106,598 millionYear on year against the same period last year+1.7%
- Order backlog¥433,250 millionYear on year against the same period last year+12.2%
- Sales pipeline information (renovation projects)Approximately 80% of the level at the beginning of the fiscal year
- Number of active sites151 The workplace
- Reduction in on-site labor hours155,000 Time
- Units produced10,100 Units
- Equity ratio58.9 %
Segment results
Standalone
Net Sales
¥58,225 million-17.6%
Operating profit
¥6,453 million-33.9%
Domestic Subsidiary
Net Sales
¥10,501 million+14.5%
Operating profit
¥468 million+294.5%
Overseas Subsidiary
Net Sales
¥18,584 million+15.4%
Operating profit
¥1,699 million+262.1%
Medium-term management plan targets
Contribution to completed-project revenueContribute to an increase of ¥50 billion in completed-project revenue in FY2030
Number of employeesIncrease of 350 employees
Number of active sites150 sites
Reduction in on-site labor hours140,000 hours
Units produced10,000 units
Financial targets
ROE
FY2025 actual19.2 %
Fiscal 2026 outlookApproximately 19.0
Equity ratio
End of June 202658.9 %
Orders received and order backlog
Orders received
¥106,598 million
Order backlog
¥433,250 million
Number of stores and locations
Number of satellite locations6
Number of employees
Number of EmployeesAn increase of 400 employees by the end of FY2025 against the KPIs in the Medium-Term Management Plan 2026
Hiring plan137 planned hires scheduled to join in April 2027; recruitment plan of 120
Annual Dividend
Annual dividend per share¥123
Interim¥61
End of period¥62
Payout ratio
40.2 %
PolicyTargeting a payout ratio of 40%
Acquisition of treasury shares
Acquisition amountApproximately ¥8 billion conducted from April to June 2025
PeriodApril-June 2025
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | First quarter of fiscal 2026 |
| Net Sales | ¥84,922 million (YoY -9.9%) |
| Operating profit | ¥8,481 million (YoY -16.2%) |
| Ordinary income | ¥9,621 million (YoY -11.8%) |
| Net income | ¥6,408 million (YoY -28.4%) |
| Gross Profit Margin | 22.5 % |
| Operating profit margin | 10 % |
| Results for the three months of the current quarter | Net Sales ¥84,922 million / Gross profit ¥19,079 million / Operating profit ¥8,481 million / Ordinary income ¥9,621 million / Net income ¥6,408 million |
| Full-year earnings forecast | Net Sales ¥440,000 million / Gross profit ¥96,000 million / Operating profit ¥50,000 million / Ordinary income ¥52,000 million / Net income ¥40,000 million / Orders received ¥520,000 million / Order backlog ¥491,574 million / ROE Approximately 19.0 |
| Progress against full-year forecast | Net Sales 19.3% / Gross profit 19.9% / Orders received 20.5% / Standalone orders received 21.1% / Medium-Term Management Plan KPIs Number of active sites 55% / Reduction in on-site labor hours 26% / Units produced 35% |
| Segment results | Standalone Net Sales ¥58,225 million (YoY -17.6%) / Operating profit ¥6,453 million (YoY -33.9%) / Domestic Subsidiary Net Sales ¥10,501 million (YoY +14.5%) / Operating profit ¥468 million (YoY +294.5%) / Overseas Subsidiary Net Sales ¥18,584 million (YoY +15.4%) / Operating profit ¥1,699 million (YoY +262.1%) |
| Breakdown of Factors Affecting the Change | Standalone gross profit -¥2,874 million / Standalone SG&A expenses -¥427 million / Operating income at domestic subsidiaries +¥349 million / Operating income at overseas subsidiaries +¥1,229 million / Consolidated adjustments +¥87 million |
| Key KPIs | Indicator name Orders received / Value ¥106,598 million / Year on year against the same period last year +1.7%, Indicator name Order backlog / Value ¥433,250 million / Year on year against the same period last year +12.2%, Indicator name Sales pipeline information (renovation projects) / Value Approximately 80% of the level at the beginning of the fiscal year / Year on year against the same period last year Not disclosed, Indicator name Number of active sites / Value 151 The workplace / Year on year against the same period last year Not disclosed, Indicator name Reduction in on-site labor hours / Value 155,000 Time / Year on year against the same period last year Not disclosed, Indicator name Units produced / Value 10,100 Units / Year on year against the same period last year Not disclosed, Indicator name Equity ratio / Value 58.9 % / Year on year against the same period last year Not disclosed |
| Number of stores and locations | Number of satellite locations 6 / Stores opened and closed during the period Not disclosed |
| Number of employees | Number of Employees An increase of 400 employees by the end of FY2025 against the KPIs in the Medium-Term Management Plan 2026 / Change during the period Not disclosed / Hiring plan 137 planned hires scheduled to join in April 2027; recruitment plan of 120 |
| Assumptions Underlying the Business Outlook | The company qualitatively expects higher productivity, stronger human capital, and solid performance at its domestic and overseas subsidiaries. Numerical assumptions are Not disclosed. |
| Medium-term management plan targets | Contribution to completed-project revenue Contribute to an increase of ¥50 billion in completed-project revenue in FY2030 / Number of employees Increase of 350 employees / Number of active sites 150 sites / Reduction in on-site labor hours 140,000 hours / Units produced 10,000 units |
| Financial targets | ROE FY2025 actual 19.2 % / Fiscal 2026 outlook Approximately 19.0 / Equity ratio End of June 2026 58.9 % |
| Annual Dividend | Annual dividend per share ¥123 / Interim ¥61 / End of period ¥62 |
| Payout ratio | 40.2 % |
| Acquisition of treasury shares | Acquisition amount Approximately ¥8 billion conducted from April to June 2025 / Number of Shares Not disclosed / Period April-June 2025 |
| Orders received and order backlog | Orders received ¥106,598 million / Order backlog ¥433,250 million |
| New initiatives | Continue developing and standardizing industrial and data center menus through T-Base®, Optimize production and supply operations at 6 satellite locations, Deploy a digital platform for construction sites centered on the equipment and materials information management system, Use 100% recycled-content aluminum materials in unit production, Demonstrate and introduce green hydrogen production and utilization facilities |
Items this document does not state (7)
Selling, general and administrative expensesSelf-assessment against the planUnit price and quantity metricsRisk amount incorporated into the outlookCapital expendituresMarket Size / ShareKey points of the Q&A
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.Net sales declined mainly because the standalone business had recorded multiple large projects as revenue in the same period of the previous fiscal year. Factors contributing to the decline in earnings included a decrease in standalone gross profit and higher SG&A expenses due to base-pay increases and investments related to human capital and digital transformation. Meanwhile, operating income increased at domestic subsidiaries as a result of strengthened sales efforts and cost reductions, and at overseas subsidiaries due to construction progress and improved profitability.
How to read this page
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