Worth reading
54Recurring
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
29322
¥ millionWording
Conditional
How definitive the wording is.Results for this period
Full year1 October 2025–30 September 2026ConsolidatedJapanese GAAPNet Sales130,581¥ millionYear on year +4.0%Progress 99.7%
Operating profit7,126¥ millionYear on year +68.2%Progress 101.8%
Ordinary income7,000¥ millionYear on year +91.3%Progress 107.7%
Net income attributable to owners of the parent-13,544¥ million
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-¥229.17
Operating Margin5.5%
Financial position at period-end
Total assets189,046¥ million
of which net assets 68,249 ¥ millionEquity ratio 35.1%vs. prior year-end -3.5pt
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.
Cash inflows and outflows
Operating+13,892
Investment-1,762
Financials-11,920
Net change+210
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥3,548 million
Segment revenue
Cold storage41,31731.6%+9.5%
Food Retail Business89,23368.3%+1.6%
Other310.0%
Segment profit
Cold storage8,61776.4%+15.9%
Food Retail Business2,61923.2%+115.1%
Other440.4%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥131,000 million (YoY +0.3%)
Operating profit¥7,000 million (YoY -1.8%)
Ordinary income¥6,500 million (YoY -7.1%)
Net income¥4,200 million
Annual Dividend Forecast24 Yen → 28 Yen
Payout ratio39.4%
Factors Behind Changes in Business Performance
Operating profit increased due to high inventory levels driven by demand for refrigerated warehouses, ongoing rate revisions, the review of low-margin transactions, improved inventory turnover, and stronger collection and sales efforts by product category. Meanwhile, the final result was a loss due to impairment losses on investment securities, impairment losses, bad-debt losses, and other factors.
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 0 companies / Excluded 0 companies / Company name None
Material subsequent eventsOn 1 October 2026, the company established a trust over the fixed assets of the Nagaoka CONNECT Logistics Center, transferred the beneficial interest in the trust, and entered into a lease agreement. The transfer amount for the beneficial interest was ¥9,800 million, and the transaction is accounted for as a financial transaction.
Impairment loss¥2,545 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of property, plant and equipment ¥6,004 million, Gain on sale of investment securities ¥724 million, Gain on liquidation of an affiliated company ¥80 million, Reversal of provision for loss on guarantees ¥4,718 million / Extraordinary loss Impairment loss ¥2,545 million, Loss on valuation of investment securities ¥23,653 million, Provision for allowance for doubtful accounts ¥558 million, Bad debt loss ¥2,565 million
Depreciation and amortization¥8,846 million
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingYes (institutional investors and securities analysts)
Issued Shares at Period-End59,222,784 shares
Treasury Shares at Period-End74,400 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 October 2025–30 September 2026 |
| Net Sales | ¥130,581 million (YoY +4.0%) |
| Operating profit | ¥7,126 million (YoY +68.2%) |
| Ordinary income | ¥7,000 million (YoY +91.3%) |
| Profit attributable to owners of the parent | ¥-13,544 million |
| Net income per share | -¥229.17 |
| Operating Margin | 5.5% |
| Equity ratio | End of the current fiscal period 35.1% / End of previous period 38.6% |
| Total assets | ¥189,046 million |
| Net assets | ¥68,249 million |
| Cash flows from operating activities | ¥13,892 million |
| Cash flows from investing activities | ¥-1,762 million |
| Cash flows from financing activities | ¥-11,920 million |
| Cash and cash equivalents at end of period | ¥3,548 million |
| Full-year earnings forecast | Net Sales ¥131,000 million (YoY +0.3%) / Operating profit ¥7,000 million (YoY -1.8%) / Ordinary income ¥6,500 million (YoY -7.1%) / Net income ¥4,200 million |
| Annual Dividend Forecast | 24 Yen → 28 Yen |
| Payout ratio | 39.4% |
| Segment revenue | Cold storage ¥41,317 million (YoY +9.5%) / Food Retail Business ¥89,233 million (YoY +1.6%) / Other ¥31 million |
| Segment profit | Cold storage ¥8,617 million (YoY +15.9%) / Food Retail Business ¥2,619 million (YoY +115.1%) / Other ¥44 million |
| Depreciation and amortization | ¥8,846 million |
| Impairment loss | ¥2,545 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of property, plant and equipment ¥6,004 million, Gain on sale of investment securities ¥724 million, Gain on liquidation of an affiliated company ¥80 million, Reversal of provision for loss on guarantees ¥4,718 million / Extraordinary loss Impairment loss ¥2,545 million, Loss on valuation of investment securities ¥23,653 million, Provision for allowance for doubtful accounts ¥558 million, Bad debt loss ¥2,565 million |
| Disclosure regarding the going concern assumption | Not applicable |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 companies / Excluded 0 companies / Company name None |
| Material subsequent events | On 1 October 2026, the company established a trust over the fixed assets of the Nagaoka CONNECT Logistics Center, transferred the beneficial interest in the trust, and entered into a lease agreement. The transfer amount for the beneficial interest was ¥9,800 million, and the transaction is accounted for as a financial transaction. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | Yes (institutional investors and securities analysts) |
| Issued Shares at Period-End | 59,222,784 shares |
| Treasury Shares at Period-End | 74,400 shares |
| Factors Behind Changes in Business Performance | Operating profit increased due to high inventory levels driven by demand for refrigerated warehouses, ongoing rate revisions, the review of low-margin transactions, improved inventory turnover, and stronger collection and sales efforts by product category. Meanwhile, the final result was a loss due to impairment losses on investment securities, impairment losses, bad-debt losses, and other factors. |
Items this document does not state (4)
Revision to Earnings ForecastShareholder Return PolicyRegional salesOrders received and order backlog
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.Operating profit increased due to the maintenance of high inventory levels driven by demand for refrigerated warehouses, ongoing rate revisions, the review of low-margin transactions, improved inventory turnover, and stronger sales. Meanwhile, extraordinary losses of ¥29,322 million were recorded against extraordinary income of ¥11,528 million, including impairment losses on investment securities related to the Hofseth International AS Group.
How to read this page
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