Worth reading
62In 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
12.2
Year-on-year change in revenue (%)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportSecond quarter of the fiscal year ending September 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥5,687 million+12.2%
Operating profit¥722 million+88.8%
Ordinary income¥709 million+90.6%
Net income¥433 million+89.9%
Operating profit margin6.6%; year-on-year change: not disclosed
Full-year earnings forecast
Orders received
¥7,038 million
Net Sales
¥11,850 million
Operating profit
¥777 million
Ordinary income
¥747 million
Profit attributable to owners of the parent
¥496 million
EBITDA
¥991 million
Dividend per share
¥23
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 Sales48.0%
Operating profit92.9%
Ordinary income94.9%
Profit attributable to owners of the parent87.3%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue is progressing as expected, while profit-related items are progressing ahead of expectationsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Electricity Business¥322 million
- Facilities Business¥32 million
- Real Estate Business¥-14 million
- Other and adjustments¥0 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Restrict new orders and focus on completing carried-over construction projects. Results may fluctuate depending on the degree of certainty regarding construction progressNew initiatives
- Acquisition by ETSOK株式会社 of the parent company's Hiroshima business (consideration: ¥400 million; reflected in consolidated results from 1 June 2026)
- Expansion of the real estate management business into the Hiroshima area
- Promote the completion of carried-over projects and build a more profitable earnings base in the electrical construction business
Key KPIsA metric the company considers important as a management benchmark.
- EBITDA¥726 millionYear on year against the same period last year+49.4%
- Equity ratio41 %Year-on-year change3.8
- Progress rate for major construction projects and new tower construction projects76.3 %
- Progress rate for major construction projects and new overhead line construction projects23.6 %
Segment results
Orders received
Electric power
¥2,336 million-42.2%
Facilities
¥59 million-98.5%
Net Sales
Electric power
¥3,849 million+1.0%
Facilities
¥996 million+121.8%
Real Estate Business
¥835 million+4.1%
Other and adjustments
¥7 million-11.7%
Operating profit
Electric powerSignificant increase in profit; amount not disclosed
FacilitiesIncrease in profit; amount not disclosed
Real Estate BusinessFlat; amount not disclosed
Other and adjustmentsSlight decrease in profit; amount not disclosed
Medium-term management plan targets
Target fiscal yearFiscal year ending September 2026
Net Sales11,000 Revenue, profit and orders received: ¥ million; ROE: %
Operating profit500 Revenue, profit and orders received: ¥ million; ROE: %
Net income for the current fiscal year337 Revenue, profit and orders received: ¥ million; ROE: %
Orders received8,600 Revenue, profit and orders received: ¥ million; ROE: %
ROE10.3 Revenue, profit and orders received: ¥ million; ROE: %
Comparison with actual resultsThe medium-term targets were achieved ahead of schedule in the fiscal year ended September 2025. The forecast for the fiscal year ending September 2026 is expected to exceed the medium-term targets except for orders received
Financial targets
ROE
Target value10.3 %
Actual value14.5 %
Orders received and order backlog
Orders received
¥2,395 million
Order backlog
¥12,813 million
Number of employees
Number of Employees241 People
Record date30 September 2025
Annual Dividend
Annual23 yen per share
Payout ratio
30% or higher (medium-term plan target payout ratio)| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Second quarter of the fiscal year ending September 2026 |
| Net Sales | ¥5,687 million (YoY +12.2%) |
| Operating profit | ¥722 million (YoY +88.8%) |
| Ordinary income | ¥709 million (YoY +90.6%) |
| Net income | ¥433 million (YoY +89.9%) |
| Operating profit margin | 6.6%; year-on-year change: not disclosed |
| Full-year earnings forecast | Orders received ¥7,038 million / Net Sales ¥11,850 million / Operating profit ¥777 million / Ordinary income ¥747 million / Profit attributable to owners of the parent ¥496 million / EBITDA ¥991 million / Dividend per share ¥23 |
| Progress against full-year forecast | Net Sales 48.0% / Operating profit 92.9% / Ordinary income 94.9% / Profit attributable to owners of the parent 87.3% |
| Self-assessment against the plan | Revenue is progressing as expected, while profit-related items are progressing ahead of expectations |
| Segment results | Orders received Electric power ¥2,336 million (YoY -42.2%) / Facilities ¥59 million (YoY -98.5%) / Net Sales Electric power ¥3,849 million (YoY +1.0%) / Facilities ¥996 million (YoY +121.8%) / Real Estate Business ¥835 million (YoY +4.1%) / Other and adjustments ¥7 million (YoY -11.7%) / Operating profit Electric power Significant increase in profit; amount not disclosed / Facilities Increase in profit; amount not disclosed / Real Estate Business Flat; amount not disclosed / Other and adjustments Slight decrease in profit; amount not disclosed |
| Breakdown of Factors Affecting the Change | Factors Electricity Business / Amount ¥322 million, Factors Facilities Business / Amount ¥32 million, Factors Real Estate Business / Amount ¥-14 million, Factors Other and adjustments / Amount ¥0 million |
| Key KPIs | Indicator name EBITDA / Value ¥726 million / Year on year against the same period last year ¥49.4 million, Indicator name Equity ratio / Value 41 % / Year-on-year change 3.8 %, Indicator name Progress rate for major construction projects and new tower construction projects / Value 76.3 % / Year on year against the same period last year Not disclosed, Indicator name Progress rate for major construction projects and new overhead line construction projects / Value 23.6 % / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 241 People / Record date 30 September 2025 / Changes during the period and hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | Restrict new orders and focus on completing carried-over construction projects. Results may fluctuate depending on the degree of certainty regarding construction progress |
| Medium-term management plan targets | Target fiscal year Fiscal year ending September 2026 / Net Sales 11,000 Revenue, profit and orders received: ¥ million; ROE: % / Operating profit 500 Revenue, profit and orders received: ¥ million; ROE: % / Net income for the current fiscal year 337 Revenue, profit and orders received: ¥ million; ROE: % / Orders received 8,600 Revenue, profit and orders received: ¥ million; ROE: % / ROE 10.3 Revenue, profit and orders received: ¥ million; ROE: % / Comparison with actual results The medium-term targets were achieved ahead of schedule in the fiscal year ended September 2025. The forecast for the fiscal year ending September 2026 is expected to exceed the medium-term targets except for orders received |
| Financial targets | ROE Target value 10.3 % / Actual value 14.5 % / Equity ratio Not disclosed / ROIC Not disclosed / Debt-to-equity ratio Not disclosed |
| Annual Dividend | Annual 23 yen per share / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | 30% or higher (medium-term plan target payout ratio) |
| Orders received and order backlog | Orders received ¥2,395 million / Order backlog ¥12,813 million |
| New initiatives | Acquisition by ETSOK株式会社 of the parent company's Hiroshima business (consideration: ¥400 million; reflected in consolidated results from 1 June 2026), Expansion of the real estate management business into the Hiroshima area, Promote the completion of carried-over projects and build a more profitable earnings base in the electrical construction business |
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookAcquisition of treasury sharesCapital 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.Revenue increased, mainly in the Facilities business, while operating profit rose as progress was made on a major transmission line project in the Power business and profitability improved on certain projects. Orders received, however, declined because the Company prioritized completing orders carried over from the previous fiscal year and restricted new orders. The full-year forecast was left unchanged because of concerns in the second half, including extensions to the construction periods for certain projects and delays in the recovery of repair work in the real estate-related business.
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