Komori
Presentation materials on financial results2311EPCO Co.,Ltd.Information and Communications, Services and Others

2025年12月期本決算説明資料

2025年12月期は、再エネサービスの伸長と株式売却益により、連結売上高・経常利益・純利益が前期を上回った。一方、メンテナンスサービスと設計サービスは減収減益となり、2026年12月期は全セグメントの増収増益を計画している。

Worth reading
63In 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
645
¥ million (year-on-year increase in consolidated net sales)
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials on financial resultsFiscal year ended December 2025, full year11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥6,252 million+11.5%
Ordinary income¥481 million+9.1%
Net income¥424 million+29.9%
Full-year earnings forecast
Net Sales
¥6,680 million
Ordinary income
¥624 million
Net income
¥485 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Consolidated ordinary income
Renewable Energy Services72
Maintenance Services-20
Design services-14
その他全社費用2
Renewable Energy Services ordinary profit
ENE's97
THT39
LESSO-86
MEDX21
Ordinary profit from maintenance services
業務終了等による減収-178
Revenue growth from new contracts and other factors101
Productivity improvements and other factors56
Personnel Expenses-41
Facilities costs-8
Other-7
Ordinary profit from design services
Impact of the macroeconomic environment-42
Lower system development costs-35
その他減収要因-27
新サービスの提案受注76
既存得意先受託増26
Impact of yen depreciation-10
Other expenses-2
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
為替レート、原材料価格、金利などの具体的数値はNot disclosed。再エネ需要の堅調推移、住宅着工減少の継続、政策支援・補助金、受託増加、価格改定、DX投資などを前提としている。
New initiatives
  • ENE'sの施工管理・安全品質管理を中心とする要員強化
  • ENE'sの社屋移転
  • メンテナンスサービスのDX投資、AIによる業務フロー改革・管理業務自動化
  • D-TECH2.0による検図改革・設計業務効率化
  • BIMサービスの拡張
  • ENE'sのWebサイト全面リニューアル
  • Expansion of the Lottery-Based Shareholder Benefit Program
Key KPIsA metric the company considers important as a management benchmark.
  • THT成約金額¥10,409 million
    Year-on-year (%)8.7
  • ENE's施工実績6,000 Engagements
  • ENE's太陽光施工実績2,500 Engagements
  • ENE's蓄電池施工実績1,000 Engagements
  • Number of applicants for the lottery-based shareholder benefit program4,363 people
    Year on year against the same period last yearUpward trend
  • Application rate for the lottery-based shareholder benefit program46.5 %
    Year on year against the same period last yearHigher
  • 電気工事士試験合格者数20 people
Segment results
Renewable Energy Services
Net Sales
¥2,103 million
Year-on-Year Change in Revenue (%)52.5
Ordinary income
¥258 million
Year-on-year change in ordinary income (%)38.9
Maintenance Services
Net Sales
¥1,933 million
Year-on-Year Change in Revenue (%)-3.8
Ordinary income
¥291 million
Year-on-year change in ordinary income (%)-6.5
Design services
Net Sales
¥2,214 million
Year-on-Year Change in Revenue (%)-0.1
Ordinary income
¥345 million
Year-on-year change in ordinary income (%)-4.1
Medium-term management plan targets
2027
Net Sales¥7.50 billion
Ordinary income¥1.00 billion
Operating margin13.3%
ROE14.5%
2030
Net Sales¥10.00 billion
Ordinary income¥1.50 billion
Operating margin15.0%
ROE18.0%
Financial targets
ROE
2025 actual7.0%
2027 target14.5%
2030 target18.0%
Equity ratioAt least 80%
Market Size / Share
住宅用太陽光発電システム設置工事市場2020年17.3万件、2030年39.4万件
住宅用蓄電システム設置工事市場2020年12.7万台、2030年35.0万台
EV充電器設置工事2024年4.0万口、2030年30.0万口
設計実績シェア新築低層住宅の約14%
Number of employees
Number of Employees連結797名（臨時社員・派遣社員含む、2025年12月31日時点）
Change during the periodENE'sは55人（2025年12月時点）から67人へ強化予定。メンテナンスサービスは292名から288名へ4名減。
Annual Dividend
Annual dividend per share35.0円（2025年12月期予定）
Year-end dividend記念配当3円を含む
Payout ratio
連結配当性向50%を目安。2025年12月期は74%と表示。DOE8%を目安。
Contents of this document
ItemDetails
Document typePresentation materials on financial results
Fiscal Period CoveredFiscal year ended December 2025, full year
Net Sales¥6,252 million (YoY +11.5%)
Ordinary income¥481 million (YoY +9.1%)
Net income¥424 million (YoY +29.9%)
Full-year earnings forecastNet Sales ¥6,680 million / Ordinary income ¥624 million / Net income ¥485 million
Segment resultsRenewable Energy Services Net Sales ¥2,103 million / Year-on-Year Change in Revenue (%) 52.5 / Ordinary income ¥258 million / Year-on-year change in ordinary income (%) 38.9 / Maintenance Services Net Sales ¥1,933 million / Year-on-Year Change in Revenue (%) -3.8 / Ordinary income ¥291 million / Year-on-year change in ordinary income (%) -6.5 / Design services Net Sales ¥2,214 million / Year-on-Year Change in Revenue (%) -0.1 / Ordinary income ¥345 million / Year-on-year change in ordinary income (%) -4.1
Breakdown of Factors Affecting the ChangeConsolidated ordinary income Renewable Energy Services 72 / Maintenance Services -20 / Design services -14 / その他全社費用 2 / Renewable Energy Services ordinary profit ENE's 97 / THT 39 / LESSO -86 / MEDX 21 / Ordinary profit from maintenance services 業務終了等による減収 -178 / Revenue growth from new contracts and other factors 101 / Productivity improvements and other factors 56 / Personnel Expenses -41 / Facilities costs -8 / Other -7 / Ordinary profit from design services Impact of the macroeconomic environment -42 / Lower system development costs -35 / その他減収要因 -27 / 新サービスの提案受注 76 / 既存得意先受託増 26 / Impact of yen depreciation -10 / Other expenses -2
Key KPIsIndicator name THT成約金額 / Value ¥10,409 million / Year-on-year (%) ¥8.7 million, Indicator name ENE's施工実績 / Value 6,000 Engagements / Year on year against the same period last year Not disclosed, Indicator name ENE's太陽光施工実績 / Value 2,500 Engagements / Year on year against the same period last year Not disclosed, Indicator name ENE's蓄電池施工実績 / Value 1,000 Engagements / Year on year against the same period last year Not disclosed, Indicator name Number of applicants for the lottery-based shareholder benefit program / Value 4,363 people / Year on year against the same period last year Upward trend, Indicator name Application rate for the lottery-based shareholder benefit program / Value 46.5 % / Year on year against the same period last year Higher, Indicator name 電気工事士試験合格者数 / Value 20 people / Year on year against the same period last year Not disclosed
Number of employeesNumber of Employees 連結797名（臨時社員・派遣社員含む、2025年12月31日時点） / Change during the period ENE'sは55人（2025年12月時点）から67人へ強化予定。メンテナンスサービスは292名から288名へ4名減。
Assumptions Underlying the Business Outlook為替レート、原材料価格、金利などの具体的数値はNot disclosed。再エネ需要の堅調推移、住宅着工減少の継続、政策支援・補助金、受託増加、価格改定、DX投資などを前提としている。
Medium-term management plan targets2027 Net Sales ¥7.50 billion / Ordinary income ¥1.00 billion / Operating margin 13.3% / ROE 14.5% / 2030 Net Sales ¥10.00 billion / Ordinary income ¥1.50 billion / Operating margin 15.0% / ROE 18.0%
Financial targetsROE 2025 actual 7.0% / 2027 target 14.5% / 2030 target 18.0% / Equity ratio At least 80%
Annual DividendAnnual dividend per share 35.0円（2025年12月期予定） / Interim Dividend Not disclosed / Year-end dividend 記念配当3円を含む
Payout ratio連結配当性向50%を目安。2025年12月期は74%と表示。DOE8%を目安。
Market Size / Share住宅用太陽光発電システム設置工事市場 2020年17.3万件、2030年39.4万件 / 住宅用蓄電システム設置工事市場 2020年12.7万台、2030年35.0万台 / EV充電器設置工事 2024年4.0万口、2030年30.0万口 / 設計実績シェア 新築低層住宅の約14%
New initiativesENE'sの施工管理・安全品質管理を中心とする要員強化, ENE'sの社屋移転, メンテナンスサービスのDX投資、AIによる業務フロー改革・管理業務自動化, D-TECH2.0による検図改革・設計業務効率化, BIMサービスの拡張, ENE'sのWebサイト全面リニューアル, Expansion of the Lottery-Based Shareholder Benefit Program
Items this document does not state (14)
Operating profitGross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey 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.

2025年12月期は、再エネサービスの好調、東京都の太陽光パネル設置義務化などによる需要拡大、THTや大手ハウスメーカーからの受注拡大が増収増益に寄与した。純利益は投資有価証券売却益と関係会社出資金売却益も押し上げた。メンテナンスサービスはエネルギー企業向けスポット業務の終了、設計サービスは住宅着工戸数の減少、円安による中国コスト増加などが減益要因となった。

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
2025年12月期本決算説明資料 | EPCO Co.,Ltd. (2311) timely disclosure | Komori