Komori
Earnings3168MERF Inc.Trading & Wholesale

Financial Results for the Fiscal Year Ended August 2026 (Japanese GAAP) (Consolidated)

For the fiscal year ended August 2026, revenue increased 29.6% against a backdrop of higher copper prices and improved spreads, while both operating profit and net profit returned to the black. For the fiscal year ending August 2027, revenue is expected to increase, but operating profit is forecast to decline 30.2%, and the annual dividend forecast will decrease from ¥40 to ¥30.

Worth reading
47Recurring
Scored from 5 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
29.6
%
Wording
Conditional
How definitive the wording is.

Results for this period

Full year1 September 2025–31 August 2026ConsolidatedJapanese GAAP
Net Sales106,845¥ millionYear on year +29.6%Progress 78.3%
Operating profit4,440¥ millionProgress 143.2%
Ordinary income4,342¥ millionProgress 163.0%
Net income attributable to owners of the parent2,791¥ millionProgress 152.3%

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¥197.33
Operating Margin4.2%
Financial position at period-end
Total assets33,456¥ million
of which net assets 12,452 ¥ millionEquity ratio 37.2%vs. prior year-end +1.3pt

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+1,966
Investment-367
Financials+564
Net change+2,163

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¥3,908 million
Segment revenue¥106,031,968 thousand (YoY +29.5%), ¥813,772 thousand (YoY +45.8%)
Segment profit¥4,287,946 thousand, ¥152,735 thousand
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥136,538 million (YoY +27.8%)
Operating profit¥3,100 million (YoY -30.2%)
Ordinary income¥2,664 million (YoY -38.6%)
Net income¥1,833 million (YoY -34.3%)
Annual Dividend Forecast¥40 → ¥30(-25.0%)
Payout ratio20.3% (fiscal year ended August 2026), 23.2% (forecast for the fiscal year ending August 2027)
Factors Behind Changes in Business Performance

Higher copper prices, improved spreads and demand capture in the North American market by the US subsidiary CMX Metals contributed to results. However, sales volumes declined 3.6% for ingots and 8.5% for recycled materials, resulting in an overall decrease of 6.3%.

Disclosure regarding the going concern assumption

No applicable matters

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 consolidationNewly consolidated: 0 companies; excluded: 0 companies (company names: —)
Material subsequent eventsNo applicable matters.
Breakdown of extraordinary income (loss)No extraordinary gains or losses were recorded for the fiscal year ended August 2026
Depreciation and amortization¥533 million
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingNo
Issued Shares at Period-End14,337,200 shares
Treasury Shares at Period-End183,316 treasury shares
Results for this period
ItemDetails
Fiscal Period ClassificationFull year
Accounting standardsJapanese GAAP
Consolidated / non-consolidatedConsolidated
Period Covered1 September 2025–31 August 2026
Net Sales¥106,845 million (YoY +29.6%)
Operating profit¥4,440 million
Ordinary income¥4,342 million
Profit attributable to owners of the parent¥2,791 million
Net income per share¥197.33
Operating Margin4.2%
Equity ratioEnd of the current fiscal period 37.2% / End of previous period 35.9%
Total assets¥33,456 million
Net assets¥12,452 million
Cash flows from operating activities¥1,966 million
Cash flows from investing activities¥-367 million
Cash flows from financing activities¥564 million
Cash and cash equivalents at end of period¥3,908 million
Full-year earnings forecastNet Sales ¥136,538 million (YoY +27.8%) / Operating profit ¥3,100 million (YoY -30.2%) / Ordinary income ¥2,664 million (YoY -38.6%) / Net income ¥1,833 million (YoY -34.3%)
Annual Dividend Forecast¥40 → ¥30(-25.0%)
Payout ratio20.3% (fiscal year ended August 2026), 23.2% (forecast for the fiscal year ending August 2027)
Segment revenue¥106,031,968 thousand (YoY +29.5%), ¥813,772 thousand (YoY +45.8%)
Segment profit¥4,287,946 thousand, ¥152,735 thousand
Depreciation and amortization¥533 million
Breakdown of extraordinary income (loss)No extraordinary gains or losses were recorded for the fiscal year ended August 2026
Disclosure regarding the going concern assumptionNo applicable matters
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 consolidationNewly consolidated: 0 companies; excluded: 0 companies (company names: —)
Material subsequent eventsNo applicable matters.
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingNo
Issued Shares at Period-End14,337,200 shares
Treasury Shares at Period-End183,316 treasury shares
Factors Behind Changes in Business PerformanceHigher copper prices, improved spreads and demand capture in the North American market by the US subsidiary CMX Metals contributed to results. However, sales volumes declined 3.6% for ingots and 8.5% for recycled materials, resulting in an overall decrease of 6.3%.
Items this document does not state (5)
Revision to Earnings ForecastShareholder Return PolicyRegional salesOrders received and order backlogImpairment loss

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.

Higher copper prices, improved spreads and demand capture in the North American market by the US subsidiary CMX Metals contributed to results, while sales volumes of ingots and recycled materials declined.

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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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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Financial Results for the Fiscal Year Ended August 2026 (Japanese GAAP) (Consolidated) | MERF Inc. (3168) timely disclosure | Komori