Worth reading
64In 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
-118
Millions of yen (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFirst quarter of the fiscal year ending December 20268 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥7,409 million+4.0%
Operating profit¥1,234 million-8.7%
Ordinary income¥1,333 million-5.5%
Net income¥843 million -8.5%profit attributable to owners of the parent
Selling, general and administrative expenses¥1,174 million
Gross Profit Margin
Rate32.5%
Year-on-year change (points)Down from 34.8%
Operating profit margin
Rate16.7%
Year-on-year change (points)Down from 19.0%
Results for the three months of the current quarterFirst-quarter net sales of ¥7,409 million, operating profit of ¥1,234 million, ordinary profit of ¥1,333 million, and quarterly net profit attributable to owners of the parent of ¥843 million. Orders received were ¥2,813 million, and the order backlog was ¥20,160 million.
Full-year earnings forecast
Orders received
¥23,150 million
Net Sales
¥24,900 million
Operating profit
¥2,410 million
Ordinary income
¥2,450 million
Profit attributable to owners of the parent
¥1,660 million
Operating profit margin
9.7 %
Dividend per share
¥74
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。
Orders received12.2%
Net Sales29.8%
Operating profit51.2%
Profit attributable to owners of parent for the quarter50.8%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress is on track toward achieving the full-year plan. The company expects to achieve its full-year orders-received target of ¥23,150 million.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Profit increase from higher revenue+¥98 million
- Profit decline from a higher cost ratio-¥42 million
- Profit decline from higher SG&A expenses-¥44 million
- Profit decline from increases in the provision for business compensation and other items-¥129 million
New initiatives
- Execution of a capital and business alliance agreement with Liberaware Inc. and an investment of approximately ¥500 million
- Selection for the Ministry of Land, Infrastructure, Transport and Tourism's AB-Cross project for a drone × AI demonstration project
- Participation in and winning orders for wide-area Water PPP projects
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥2,813 millionYear on year against the same period last year-55.5%
- Order backlog¥20,160 millionYear on year against the same period last year-7.6%
- Water-supply orders received¥1,012 millionYear on year against the same period last year-70.7%
- Sewerage orders received¥1,198 millionYear on year against the same period last year-45.8%
- Rivers and other orders received¥602 millionYear on year against the same period last year-7.0%
Segment results
- Water supplyNet Sales¥2,784 millionYear on year against the same period last year+16.8%
- SewerageNet Sales¥3,803 millionYear on year against the same period last year+4.6%
- Rivers and otherNet Sales¥821 millionYear on year against the same period last year-25.7%
Orders received and order backlog
Orders received¥2,813 million
Order backlog¥20,160 million
Annual Dividend
Annual dividend per share¥74.0
Payout ratio
52.5% (policy of targeting a payout ratio of 50%)| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending December 2026 |
| Net Sales | ¥7,409 million (YoY +4.0%) |
| Operating profit | ¥1,234 million (YoY -8.7%) |
| Ordinary income | ¥1,333 million (YoY -5.5%) |
| Net income | ¥843 million (profit attributable to owners of the parent) (YoY -8.5%) |
| Gross Profit Margin | Rate 32.5% / Year-on-year change (points) Down from 34.8% |
| Operating profit margin | Rate 16.7% / Year-on-year change (points) Down from 19.0% |
| Selling, general and administrative expenses | ¥1,174 million |
| Results for the three months of the current quarter | First-quarter net sales of ¥7,409 million, operating profit of ¥1,234 million, ordinary profit of ¥1,333 million, and quarterly net profit attributable to owners of the parent of ¥843 million. Orders received were ¥2,813 million, and the order backlog was ¥20,160 million. |
| Full-year earnings forecast | Orders received ¥23,150 million / Net Sales ¥24,900 million / Operating profit ¥2,410 million / Ordinary income ¥2,450 million / Profit attributable to owners of the parent ¥1,660 million / Operating profit margin 9.7 % / Dividend per share ¥74 |
| Progress against full-year forecast | Orders received 12.2% / Net Sales 29.8% / Operating profit 51.2% / Profit attributable to owners of parent for the quarter 50.8% |
| Self-assessment against the plan | Progress is on track toward achieving the full-year plan. The company expects to achieve its full-year orders-received target of ¥23,150 million. |
| Segment results | Segment Water supply / Net Sales ¥2,784 million / Year on year against the same period last year +16.8%, Segment Sewerage / Net Sales ¥3,803 million / Year on year against the same period last year +4.6%, Segment Rivers and other / Net Sales ¥821 million / Year on year against the same period last year -25.7% |
| Breakdown of Factors Affecting the Change | Factors Profit increase from higher revenue / Amount +¥98 million, Factors Profit decline from a higher cost ratio / Amount -¥42 million, Factors Profit decline from higher SG&A expenses / Amount -¥44 million, Factors Profit decline from increases in the provision for business compensation and other items / Amount -¥129 million |
| Key KPIs | Indicator name Orders received / Value ¥2,813 million / Year on year against the same period last year -55.5%, Indicator name Order backlog / Value ¥20,160 million / Year on year against the same period last year -7.6%, Indicator name Water-supply orders received / Value ¥1,012 million / Year on year against the same period last year -70.7%, Indicator name Sewerage orders received / Value ¥1,198 million / Year on year against the same period last year -45.8%, Indicator name Rivers and other orders received / Value ¥602 million / Year on year against the same period last year -7.0% |
| Annual Dividend | Annual dividend per share ¥74.0 / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | 52.5% (policy of targeting a payout ratio of 50%) |
| Orders received and order backlog | Orders received ¥2,813 million / Order backlog ¥20,160 million |
| New initiatives | Execution of a capital and business alliance agreement with Liberaware Inc. and an investment of approximately ¥500 million, Selection for the Ministry of Land, Infrastructure, Transport and Tourism's AB-Cross project for a drone × AI demonstration project, Participation in and winning orders for wide-area Water PPP projects |
Items this document does not state (11)
Unit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAcquisition 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.The additional man-hours required to strengthen the design-check system were absorbed through productivity improvements, resulting in higher net sales. Operating profit declined because the provision for business compensation and other items, calculated using the average values for the past 3 years, increased due to the impact of design-defect projects that arose in 2025. The decline in orders received was due to the reversal of the prior-year booking of a ¥3,120 million large project under a 10-year contract, as well as a shift in the timing of project recognition.
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.