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Results2311EPCO Co.,Ltd.Information and Communications, Services and Others

Third-Quarter Financial Results for the Fiscal Year Ending December 2026 [Japanese GAAP] (Consolidated)

For the cumulative third quarter of the fiscal year ending December 2026, revenue increased 9.1% year on year, while operating profit decreased 1.1% and net income attributable to owners of the parent decreased 20.9%. The full-year earnings forecast and annual dividend forecast remain unchanged.

Worth reading
43Recurring
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
9.1
%
Wording
Conditional
How definitive the wording is.

Results for this period

Third quarter1 January 2026–30 September 2026ConsolidatedJapanese GAAP
Net Sales5,175¥ millionYear on year +9.1%Progress 71.7%
Operating profit290¥ millionYear on year -1.1%Progress 55.0%
Ordinary income338¥ millionYear on year +3.2%Progress 50.4%
Net income attributable to owners of the parent233¥ millionYear on year -20.9%Progress 48.0%

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¥26.13
Financial position at period-end
Total assets5,344¥ million
of which net assets 4,573 ¥ millionEquity ratio 85.6%vs. prior year-end +5.6pt

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.

Segment revenueRenewable Energy Services ¥2,040.46 million (YoY +24.1%), Maintenance Services ¥1,601.81 million (YoY +12.5%), Design services ¥1,532.92 million (YoY -8.6%)
Segment profitRenewable Energy Services ¥190.71 million (YoY +12.5%), Maintenance Services ¥333.96 million (YoY +69.6%), Design services ¥219.32 million (YoY -23.3%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥7,215 million (YoY +15.4%)
Operating profit¥527 million (YoY +40.1%)
Ordinary income¥671 million (YoY +39.5%)
Net income¥485 million (YoY +14.4%)
Annual Dividend Forecast¥35 → ¥35(0.0%)
Factors Behind Changes in Business Performance

Revenue increased on strong performance in contracts for installation work for solar power generation and storage batteries and panel inspection work, while operating expenses increased due to higher raw material prices and subcontracting rates, as well as higher management costs at the Chinese subsidiary resulting from the weaker yen. Equity-method investment gains increased, but gains on sales of investment securities and investments in affiliates recorded in the same period of the previous year did not occur in the current period.

Disclosure regarding the going concern assumption

Not applicable.

Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 0 / Company name Not disclosed / Excluded Number of companies 0 / Company name Not disclosed
Breakdown of extraordinary income (loss)Extraordinary income Not disclosed / Extraordinary loss Loss on disposal and sale of fixed assets ¥0 thousand
Depreciation and amortization¥83.42 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for shareholders, institutional investors and individual investors)
Issued Shares at Period-End9,316,000
Treasury Shares at Period-End396,393
Results for this period
ItemDetails
Fiscal Period ClassificationThird quarter
Accounting standardsJapanese GAAP
Consolidated / non-consolidatedConsolidated
Period Covered1 January 2026–30 September 2026
Net Sales¥5,175 million (YoY +9.1%)
Operating profit¥290 million (YoY -1.1%)
Ordinary income¥338 million (YoY +3.2%)
Profit attributable to owners of the parent¥233 million (YoY -20.9%)
Net income per share¥26.13
Equity ratioEnd of the current fiscal period 85.6 % / End of previous period 80 %
Total assets¥5,344 million
Net assets¥4,573 million
Full-year earnings forecastNet Sales ¥7,215 million (YoY +15.4%) / Operating profit ¥527 million (YoY +40.1%) / Ordinary income ¥671 million (YoY +39.5%) / Net income ¥485 million (YoY +14.4%)
Annual Dividend Forecast¥35 → ¥35(0.0%)
Segment revenueRenewable Energy Services ¥2,040.46 million (YoY +24.1%), Maintenance Services ¥1,601.81 million (YoY +12.5%), Design services ¥1,532.92 million (YoY -8.6%)
Segment profitRenewable Energy Services ¥190.71 million (YoY +12.5%), Maintenance Services ¥333.96 million (YoY +69.6%), Design services ¥219.32 million (YoY -23.3%)
Depreciation and amortization¥83.42 million
Breakdown of extraordinary income (loss)Extraordinary income Not disclosed / Extraordinary loss Loss on disposal and sale of fixed assets ¥0 thousand
Disclosure regarding the going concern assumptionNot applicable.
Change in accounting policyChanges due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No
Changes in the scope of consolidationNew Number of companies 0 / Company name Not disclosed / Excluded Number of companies 0 / Company name Not disclosed
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for shareholders, institutional investors and individual investors)
Issued Shares at Period-End9,316,000
Treasury Shares at Period-End396,393
Factors Behind Changes in Business PerformanceRevenue increased on strong performance in contracts for installation work for solar power generation and storage batteries and panel inspection work, while operating expenses increased due to higher raw material prices and subcontracting rates, as well as higher management costs at the Chinese subsidiary resulting from the weaker yen. Equity-method investment gains increased, but gains on sales of investment securities and investments in affiliates recorded in the same period of the previous year did not occur in the current period.
Items this document does not state (12)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodRevision to Earnings ForecastPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogImpairment lossMaterial 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.

Revenue increased on strong performance in installation work for solar power generation and storage batteries, but operating expenses increased due to higher raw material prices and subcontracting rates, as well as higher management costs at the Chinese subsidiary resulting from the weaker yen. Ordinary profit increased due to higher equity-method investment gains, while net income decreased because gains on sales of investment securities and other items recorded in the same period of the previous year did not occur in the current period.

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Third-Quarter Financial Results for the Fiscal Year Ending December 2026 [Japanese GAAP] (Consolidated) | EPCO Co.,Ltd. (2311) timely disclosure | Komori