Worth reading
58In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-401
Millions of yen (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsSecond quarter of the fiscal year ending December 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥12,740 million-4.9%
Operating profit¥1,546 million-20.6%
Ordinary income¥1,675 million-16.8%
Net income¥917 million -30.7%interim net income attributable to owners of the parent
Gross Profit Margin31.9%
Operating profit margin12.1%
Selling, general and administrative expenses¥2,523 million
Results for the three months of the current quarterOrders received were reported to have exceeded the year-earlier level, but financial figures for the three months of the quarter alone are Not disclosed
Full-year earnings forecast
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
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 received48.9%
Net Sales51.2%
Operating profit64.2%
Interim net income attributable to owners of the parent55.2%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress is in line with the plan; the company expects to achieve the full-year planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit
Decrease in profit due to lower sales-215
Increase in profit from an improved cost ratio10
Profit decline from higher SG&A expenses-115
Decrease in profit due to higher provisions for business compensation and other items-81
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Quantitative assumptions are Not disclosed. Risk factors including interest rates and foreign-exchange fluctuations were mentioned.New initiatives
- Winning the contract for and commencing work on the master plan project for water supply in Siem Reap, Cambodia
- Certification as a JICA-SDGs Partner
- Obtaining Kurumin certification from the Ministry of Health, Labour and Welfare
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥11,312 millionYear on year against the same period last year▲23.2%
- Order backlog¥23,309 millionYear on year against the same period last year▲2.7%
- IR meetings26 EngagementsYear on year against the same period last yearDown from 38 meetings
- Ratio of IR meetings attended by members of senior management30.8 %
Segment results
Water supply
Net Sales¥4,669 million
Year on year against the same period last year-1.0%
Sewerage
Net Sales¥6,816 million
Year on year against the same period last year-4.8%
Rivers and other
Net Sales¥1,255 million
Year on year against the same period last year-17.6%
Medium-term management plan targets
Target fiscal year2030
Consolidated revenue¥30,000 million
Consolidated operating profit¥3,000 million
Orders received and order backlog
Orders received¥11,312 million
Order backlog¥23,309 million
Annual Dividend
Annual dividend per share¥74
Payout ratio
52.4% (policy of targeting a payout ratio of 50%)Acquisition of treasury shares
Share repurchases were cited as a topic for dialogue, but the repurchase limit, number of shares and period are Not disclosed| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥12,740 million (YoY -4.9%) |
| Operating profit | ¥1,546 million (YoY -20.6%) |
| Ordinary income | ¥1,675 million (YoY -16.8%) |
| Net income | ¥917 million (interim net income attributable to owners of the parent) (YoY -30.7%) |
| Gross Profit Margin | 31.9% |
| Operating profit margin | 12.1% |
| Selling, general and administrative expenses | ¥2,523 million |
| Results for the three months of the current quarter | Orders received were reported to have exceeded the year-earlier level, but financial figures for the three months of the quarter alone are Not disclosed |
| Full-year earnings forecast | 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 |
| Progress against full-year forecast | Orders received 48.9% / Net Sales 51.2% / Operating profit 64.2% / Interim net income attributable to owners of the parent 55.2% |
| Self-assessment against the plan | Progress is in line with the plan; the company expects to achieve the full-year plan |
| Segment results | Water supply Net Sales ¥4,669 million / yoy_pct ¥-1 million / Sewerage Net Sales ¥6,816 million / yoy_pct ¥-4.8 million / Rivers and other Net Sales ¥1,255 million / yoy_pct ¥-17.6 million |
| Breakdown of Factors Affecting the Change | Operating profit Decrease in profit due to lower sales -215 / Increase in profit from an improved cost ratio 10 / Profit decline from higher SG&A expenses -115 / Decrease in profit due to higher provisions for business compensation and other items -81 |
| Key KPIs | Indicator name Orders received / Value ¥11,312 million / Year on year against the same period last year ▲23.2%, Indicator name Order backlog / Value ¥23,309 million / Year on year against the same period last year ▲2.7%, Indicator name IR meetings / Value 26 Engagements / Year on year against the same period last year Down from 38 meetings, Indicator name Ratio of IR meetings attended by members of senior management / Value 30.8 % / Year on year against the same period last year Not disclosed |
| Assumptions Underlying the Business Outlook | Quantitative assumptions are Not disclosed. Risk factors including interest rates and foreign-exchange fluctuations were mentioned. |
| Medium-term management plan targets | Target fiscal year ¥2030 million / Consolidated revenue ¥30,000 million / Consolidated operating profit ¥3,000 million |
| Annual Dividend | Annual dividend per share ¥74 |
| Payout ratio | 52.4% (policy of targeting a payout ratio of 50%) |
| Acquisition of treasury shares | Share repurchases were cited as a topic for dialogue, but the repurchase limit, number of shares and period are Not disclosed |
| Orders received and order backlog | Orders received ¥11,312 million / Order backlog ¥23,309 million |
| New initiatives | Winning the contract for and commencing work on the master plan project for water supply in Siem Reap, Cambodia, Certification as a JICA-SDGs Partner, Obtaining Kurumin certification from the Ministry of Health, Labour and Welfare |
Items this document does not state (8)
Unit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsCapital 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.Delays in business progress reduced net sales, while a higher fixed-cost ratio lowered the gross profit margin. Selling, general and administrative expenses increased due to the application of enterprise taxes under the external standard taxation system following the increase in capital, while increases in the provision for business compensation and other items also weighed on profit.
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.
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