Komori
Financial Results Presentation3434ALPHA CorporationConstruction and Materials

Financial Results Briefing Materials for the Fiscal Year Ending March 2026

For the fiscal year ended March 2026, revenue and operating income declined due to lower automotive-parts production, mainly in North America, and lower sales of security equipment. Ordinary income and net income, however, increased significantly due to foreign exchange gains and gains on the liquidation of a Chinese subsidiary, among other factors.

Worth reading
58In 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
812
Millions of yen decrease in revenue
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial Results PresentationFiscal year ending March 2026, full year14 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales72,699 Millions of yen-1.1%
Operating profit843 Millions of yen-7.7%
Ordinary income1,618 Millions of yen+165.5%
Net income1,383 Millions of yen
Gross Profit Margin14.7 %
Operating profit margin1.2 %
Full-year earnings forecast
Net Sales
73,000 Millions of yen
Operating profit
1,500 Millions of yen
Ordinary income
1,300 Millions of yen
Net income
1,000 Millions of yen
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Below plan; stagnant
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Lower marginal profit due to lower revenue-927 Millions of yen
  • Lower marginal profit due to lower revenue in the security equipment business-373 Millions of yen
  • Product mix-211 Millions of yen
  • Rationalization improvements, including lower direct-material costs1,095 Millions of yen
  • Increase in labor costs-581 Millions of yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • USD exchange rate150 JPY/USD
  • THB exchange rate¥4.6 /THB
  • MXN exchange rate8.3 JPY/MXN
  • CNY exchange rate21 JPY/CNY
  • EUR exchange rate175 JPY/EUR
New initiatives
  • European business restructuring
  • Launch of new products in the security market (ed Lock Connect-BT smart lock, TENKEY READER PRO)
  • Expansion of the locker-type vending-machine business
  • Expansion of high-value-added products for existing homes
  • In-house production of resin-molded products through the acquisition of Vision Plast
Key KPIsA metric the company considers important as a management benchmark.
  • Smart-lock adoption rate in new homes70 %
  • Locations with locker-type vending machines30 locations
  • Food waste reduction33 tonnes
  • Share of Chinese local companies among automotive-parts customers35 %
  • EcoVadis rating rank30 Top %
    Year on year against the same period last yearPrior year: top 34%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Daily production volume (orders received)223 10,000 units
    Same-period previous-year figure282
    Year on year against the same period last year-20.9%
Segment results
  • Japan Automotive
    Net Sales
    Change in amount 8 Millions of yen / Change Rate 0.1 Millions of yen
    Operating profit
    Change in amount 441 Millions of yen / Change Rate 142.3 Millions of yen
  • North America Automotive
    Net Sales
    Change in amount -2,141 Millions of yen / Change Rate -12.1 Millions of yen
    Operating profit
    Change in amount -374 Millions of yen
  • Asia Automotive
    Net Sales
    Change in amount 780 Millions of yen / Change Rate 5.4 Millions of yen
    Operating profit
    Change in amount 0 Millions of yen
  • Europe Automotive
    Net Sales
    Change in amount 1,478 Millions of yen / Change Rate 8.7 Millions of yen
    Operating profit
    Change in amount 248 Millions of yen / Change Rate 143.2 Millions of yen
  • Security Japan
    Net Sales
    Change in amount -1,299 Millions of yen / Change Rate -9.5 Millions of yen
    Operating profit
    Change in amount -276 Millions of yen / Change Rate -17.1 Millions of yen
  • Security Overseas
    Net Sales
    Change in amount 361 Millions of yen / Change Rate 14.1 Millions of yen
    Operating profit
    Change in amount -197 Millions of yen / Change Rate -21.9 Millions of yen
Medium-term management plan targets
Plan nameMP2026
Target fiscal yearFiscal 2026
Net Sales
730 Hundreds of millions of yen
Operating profit
15 Hundreds of millions of yen
Operating profit margin
2.1 %
Comparison with actual resultsFiscal year ended March 2026 results: revenue of ¥72.699 billion and operating income of ¥843 million
Financial targets
Targets for ROE, ROIC and other metrics: Not disclosed. Actual results were ROE of 3.35%, ROIC of 1.2% and an equity ratio of 50.3%.
Market Size / Share
Maintains the leading share in smart locks for residential applications. The automotive-parts customer mix in 2026 was 65% Japanese-affiliated companies and 35% local companies. Market-size figures: Not disclosed
Number of stores and locations
8 countries and 15 locations. Openings and closures during the period: Not disclosed
Number of employees
Consolidated4,069 People
Standalone403 People
Annual Dividend
Annual dividend per share
¥50
Interim
¥20
End of period
¥30
Payout ratio
34.7 %
Contents of this document
ItemDetails
Document typeFinancial Results Presentation
Fiscal Period CoveredFiscal year ending March 2026, full year
Net Sales72,699 Millions of yen (YoY -1.1%)
Operating profit843 Millions of yen (YoY -7.7%)
Ordinary income1,618 Millions of yen (YoY +165.5%)
Net income1,383 Millions of yen
Gross Profit Margin14.7 %
Operating profit margin1.2 %
Full-year earnings forecastNet Sales 73,000 Millions of yen / Operating profit 1,500 Millions of yen / Ordinary income 1,300 Millions of yen / Net income 1,000 Millions of yen
Self-assessment against the planBelow plan; stagnant
Segment resultsSegment Japan Automotive / Net Sales Change in amount 8 Millions of yen / Change Rate 0.1 Millions of yen / Operating profit Change in amount 441 Millions of yen / Change Rate 142.3 Millions of yen, Segment North America Automotive / Net Sales Change in amount -2,141 Millions of yen / Change Rate -12.1 Millions of yen / Operating profit Change in amount -374 Millions of yen, Segment Asia Automotive / Net Sales Change in amount 780 Millions of yen / Change Rate 5.4 Millions of yen / Operating profit Change in amount 0 Millions of yen, Segment Europe Automotive / Net Sales Change in amount 1,478 Millions of yen / Change Rate 8.7 Millions of yen / Operating profit Change in amount 248 Millions of yen / Change Rate 143.2 Millions of yen, Segment Security Japan / Net Sales Change in amount -1,299 Millions of yen / Change Rate -9.5 Millions of yen / Operating profit Change in amount -276 Millions of yen / Change Rate -17.1 Millions of yen, Segment Security Overseas / Net Sales Change in amount 361 Millions of yen / Change Rate 14.1 Millions of yen / Operating profit Change in amount -197 Millions of yen / Change Rate -21.9 Millions of yen
Breakdown of Factors Affecting the ChangeFactors Lower marginal profit due to lower revenue / Amount -927 Millions of yen, Factors Lower marginal profit due to lower revenue in the security equipment business / Amount -373 Millions of yen, Factors Product mix / Amount -211 Millions of yen, Factors Rationalization improvements, including lower direct-material costs / Amount 1,095 Millions of yen, Factors Increase in labor costs / Amount -581 Millions of yen
Key KPIsIndicator name Smart-lock adoption rate in new homes / Value 70 % / Year on year against the same period last year Not disclosed, Indicator name Locations with locker-type vending machines / Value 30 locations / Year on year against the same period last year Not disclosed, Indicator name Food waste reduction / Value 33 tonnes / Year on year against the same period last year Not disclosed, Indicator name Share of Chinese local companies among automotive-parts customers / Value 35 % / Year on year against the same period last year Not disclosed, Indicator name EcoVadis rating rank / Value 30 Top % / Year on year against the same period last year Prior year: top 34%
Unit price and quantity metricsIndicator name Daily production volume (orders received) / Value 223 10,000 units / Same-period previous-year figure 282 10,000 units / Year on year against the same period last year -20.9 10,000 units
Number of stores and locations8 countries and 15 locations. Openings and closures during the period: Not disclosed
Number of employeesConsolidated 4,069 People / Standalone 403 People / Change during the period Not disclosed / Hiring plan Not disclosed
Assumptions Underlying the Business OutlookItem USD exchange rate / Value 150 JPY/USD, Item THB exchange rate / Value ¥4.6 /THB, Item MXN exchange rate / Value 8.3 JPY/MXN, Item CNY exchange rate / Value 21 JPY/CNY, Item EUR exchange rate / Value 175 JPY/EUR
Medium-term management plan targetsPlan name MP2026 / Target fiscal year Fiscal 2026 / Net Sales 730 Hundreds of millions of yen / Operating profit 15 Hundreds of millions of yen / Operating profit margin 2.1 % / Comparison with actual results Fiscal year ended March 2026 results: revenue of ¥72.699 billion and operating income of ¥843 million
Financial targetsTargets for ROE, ROIC and other metrics: Not disclosed. Actual results were ROE of 3.35%, ROIC of 1.2% and an equity ratio of 50.3%.
Annual DividendAnnual dividend per share ¥50 / Interim ¥20 / End of period ¥30
Payout ratio34.7 %
Market Size / ShareMaintains the leading share in smart locks for residential applications. The automotive-parts customer mix in 2026 was 65% Japanese-affiliated companies and 35% local companies. Market-size figures: Not disclosed
New initiativesEuropean business restructuring, Launch of new products in the security market (ed Lock Connect-BT smart lock, TENKEY READER PRO), Expansion of the locker-type vending-machine business, Expansion of high-value-added products for existing homes, In-house production of resin-molded products through the acquisition of Vision Plast
Items this document does not state (8)
Selling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey 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.

Revenue declined due to lower production volumes at customers in North America, lower sales of smart locks for new homes, and the reaction to the prior fiscal year's special demand for locker systems. Operating income was affected by lower revenue and higher labor costs, while rationalization improvements contributed positively. Ordinary income and net income increased due to the recognition of ¥837 million in foreign exchange gains resulting from the weaker yen and stronger Mexican peso, as well as ¥278 million in extraordinary income, including a gain on the liquidation of a Chinese subsidiary.

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.
Financial Results Briefing Materials for the Fiscal Year Ending March 2026 | ALPHA Corporation (3434) timely disclosure | Komori