Worth reading
43Recurring
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
4817
¥ million (year-on-year increase in net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFiscal year ending March 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥51,919 million+10.2%
Operating profit¥1,858 million+9,632.5%
Ordinary income¥1,140 million
Net income¥891 million
Operating profit margin3.6%; year-on-year comparison not stated in the materials
Full-year earnings forecast
Net Sales
¥50,000 million
Operating profit
¥2,400 million
Ordinary income
¥1,600 million
Net income for the current fiscal year
¥1,000 million
Earnings per share
¥87.14
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Results exceeded the previous forecastBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net SalesIncreased production +¥4,574 million; foreign exchange movements +¥243 million
Operating profitIncreased production +¥768 million; structural reform effects +¥1,062 million; foreign exchange movements -¥164 million; change in non-operating income and expenses +¥8 million
Free cash flow+¥2,347 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Thai baht
¥4.2
Renminbi
¥20
Major customersAssumes further production cuts, primarily by overseas major customers
New initiatives
- Expansion of the electrification business
- Continued cost reductions
- Investment related to the Okayama Plant
- Investment related to the Fujian Plant in China
- Investment in the Wuhan welding line
Key KPIsA metric the company considers important as a management benchmark.
- Free cash flow¥2,347 millionYear on year against the same period last year+¥2,347 million
- Equity ratio30.8 %Year on year against the same period last yearDown
- Interest-Bearing Debt¥25,374 millionYear on year against the same period last yearIncreased
Segment results
Japan
Net Sales
¥19,419 million+0.1%
Operating profit
¥353 million-25.2%
Ordinary income
¥600 million-20.4%
Thailand
Net Sales
¥5,965 million-3.1%
Operating profit
¥180 million+237.1%
Ordinary income
¥75 million
China
Net Sales
¥26,911 million+22.3%
Operating profit
¥1,229 million
Ordinary income
¥724 million
Financial targets
The actual equity ratio of 30.8% is stated, but the target is Not disclosedCapital expenditures
¥8,664 million
Annual Dividend
¥8 per share
BreakdownInterim ¥4; year-end ¥4 (forecast for the fiscal year ending March 2027)
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥51,919 million (YoY +10.2%) |
| Operating profit | ¥1,858 million (YoY +9,632.5%) |
| Ordinary income | ¥1,140 million |
| Net income | ¥891 million |
| Operating profit margin | 3.6%; year-on-year comparison not stated in the materials |
| Full-year earnings forecast | Net Sales ¥50,000 million / Operating profit ¥2,400 million / Ordinary income ¥1,600 million / Net income for the current fiscal year ¥1,000 million / Earnings per share ¥87.14 |
| Self-assessment against the plan | Results exceeded the previous forecast |
| Segment results | Japan Net Sales ¥19,419 million (YoY +0.1%) / Operating profit ¥353 million (YoY -25.2%) / Ordinary income ¥600 million (YoY -20.4%) / Thailand Net Sales ¥5,965 million (YoY -3.1%) / Operating profit ¥180 million (YoY +237.1%) / Ordinary income ¥75 million / China Net Sales ¥26,911 million (YoY +22.3%) / Operating profit ¥1,229 million / Ordinary income ¥724 million |
| Breakdown of Factors Affecting the Change | Net Sales Increased production +¥4,574 million; foreign exchange movements +¥243 million / Operating profit Increased production +¥768 million; structural reform effects +¥1,062 million; foreign exchange movements -¥164 million; change in non-operating income and expenses +¥8 million / Free cash flow +¥2,347 million |
| Key KPIs | Indicator name Free cash flow / Value ¥2,347 million / Year on year against the same period last year +¥2,347 million, Indicator name Equity ratio / Value 30.8 % / Year on year against the same period last year Down, Indicator name Interest-Bearing Debt / Value ¥25,374 million / Year on year against the same period last year Increased |
| Assumptions Underlying the Business Outlook | Thai baht ¥4.2 / Renminbi ¥20 / Major customers Assumes further production cuts, primarily by overseas major customers |
| Financial targets | The actual equity ratio of 30.8% is stated, but the target is Not disclosed |
| Annual Dividend | ¥8 per share |
| Capital expenditures | ¥8,664 million |
| New initiatives | Expansion of the electrification business, Continued cost reductions, Investment related to the Okayama Plant, Investment related to the Fujian Plant in China, Investment in the Wuhan welding line |
Items this document does not state (14)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsPayout ratioAcquisition of treasury sharesOrders received and order backlogMarket 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.In the fiscal year ended March 2026, revenue and profit increased due to higher production of electrification components in the China segment, the continuing effects of structural reforms implemented through the previous fiscal year, including workforce optimization and fixed-asset sales, and foreign exchange movements. For the fiscal year ending March 2027, the Company assumes further production cuts by major customers, primarily overseas, while expecting continued cost reductions and expansion of the high-value-added electrification business.
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