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Financial results presentation3611MATSUOKA CORPORATIONMaterials and Chemicals

Supplementary Explanatory Materials for the Fiscal Year Ending March 2026 Results

For the fiscal year ended March 2026, revenue and profits increased on higher orders and improved productivity in the garment manufacturing business. Revenue, ordinary profit, and net profit exceeded the full-year forecasts. Meanwhile, the lamination film business posted a substantial decline in revenue and profit, and operating profit fell short of the forecast due to higher overseas factory costs resulting from the weaker yen.

Worth reading
64In 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
3671
¥ million (year-on-year increase in net sales)
Wording
Avoiding a definitive answer
How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ending March 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥74,251 million+5.2%
Operating profit¥2,174 million+401.3%
Ordinary income¥5,391 million+28.4%
Net income¥3,117 million+19.9%
Results for the three months of the current quarter
Sewing business
Net Sales
¥18,265 million
Segment profit
¥1,735 million
Lamination film business
Net Sales
¥1,698 million
Segment profit
¥107 million
Full-year earnings forecast
Fiscal year ending March 2026
Net Sales
¥74,000 million
Operating profit
¥2,500 million
Operating profit after adjusting for foreign exchange gains and losses
¥5,000 million
Ordinary income
¥4,700 million
Profit attributable to owners of the parent
¥3,000 million
Fiscal year ending March 2027
Net Sales
¥80,000 million
Operating profit
¥3,400 million
Operating profit after adjusting for foreign exchange gains and losses
¥5,300 million
Ordinary income
¥4,900 million
Profit attributable to owners of the parent
¥3,400 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。
Net Sales100.3%
Operating profit87.0%
Operating profit after adjusting for foreign exchange gains and losses96.3%
Ordinary income114.7%
Profit attributable to owners of the parent103.9%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue achieved the target, operating profit fell short, operating profit after adjusting for foreign exchange gains and losses fell slightly short, and ordinary profit and net profit attributable to owners of the parent achieved their targets.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Assumed average USD exchange rate during fiscal year ending March 2027151.3 JPY/USD
  • Assumed USD exchange rate at fiscal year-end March 2027152 JPY/USD
  • Assumed average CNY exchange rate during fiscal year ending March 202721.2 JPY/CNY
  • Planned units sold in the garment manufacturing business for the fiscal year ending March 20277,000 10,000 passes
  • Planned yards sold in the lamination film business for the fiscal year ending March 20271,500 10,000 yards
New initiatives
  • Construction of a new factory in Indonesia (approximately ¥3 billion)
  • Expansion investment at the Bangladesh factory (approximately ¥500 million)
  • Software investment for MES implementation (approximately ¥200 million)
  • Establishment of the IMBD training center in Bangladesh
  • Opening of sales offices in Shanghai and Ho Chi Minh City
  • Opening of official Instagram and X accounts
Key KPIsA metric the company considers important as a management benchmark.
  • Revenue ratio from ASEAN countries and other markets67.5 %
    Year on year against the same period last year+3.9 percentage points
  • Revenue ratio from ASEAN countries and other markets in the garment manufacturing business72.6 %
  • ROE8 %
    Year on year against the same period last year+0.7 percentage points
  • ROA7.3 %
    Year on year against the same period last year+1.2 percentage points
  • Equity ratio53.1 %
    Year on year against the same period last year+1.3 percentage points
  • D/E ratio0.48 times
    Year on year against the same period last year-0.08 percentage points
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Units sold in the garment manufacturing business6,350 10,000 passes
    Year on year against the same period last year+22.1%
  • Yards sold in the lamination film business1,364 10,000 yards
    Year on year against the same period last year-25.2%
Segment results
Sewing business
Net Sales
¥66,029 million+12.5%
Segment profit
¥5,959 million+67.6%
Units sold
6,350 10,000 passes+22.1%
Lamination film business
Net Sales
¥8,221 million-30.9%
Segment profit
¥554 million-67.9%
Yards sold
1,364 10,000 yards-25.2%
Medium-term management plan targets
Previous medium-term management plan: Vision 2025
Net Sales
¥74,000 million
Target fiscal yearFiscal year ending March 2026
Ordinary income
¥4,700 million
Target fiscal yearFiscal year ending March 2026
Comparison with actual resultsBoth revenue and ordinary profit exceeded the final targets.
New medium-term management plan: BEYOND2028The fiscal year ending March 2027 will be the first year of the plan, but specific targets for the fiscal years ending March 2028 and March 2029 are not disclosed.
Number of employees
Operates a training center with a capacity of 100 people. Plans to expand recruitment in the lamination film business.
Capital expenditures
2,000 Millions of yen actual for the fiscal year ended March 2026, approximately ¥2 billion
Annual Dividend
The annual dividend is ¥100 for the fiscal year ended March 2026, comprising a regular dividend of ¥90 and a commemorative dividend of ¥10, and is scheduled to be ¥115 for the fiscal year ending March 2027. The interim and year-end breakdown is not disclosed.
Payout ratio
A payout ratio of 35% will be the benchmark from the fiscal year ending March 2027 onward; the payout ratio for the fiscal year ended March 2026 was 33.5%.
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFiscal year ending March 2026
Net Sales¥74,251 million (YoY +5.2%)
Operating profit¥2,174 million (YoY +401.3%)
Ordinary income¥5,391 million (YoY +28.4%)
Net income¥3,117 million (YoY +19.9%)
Results for the three months of the current quarterSewing business Net Sales ¥18,265 million / Segment profit ¥1,735 million / Lamination film business Net Sales ¥1,698 million / Segment profit ¥107 million
Full-year earnings forecastFiscal year ending March 2026 Net Sales ¥74,000 million / Operating profit ¥2,500 million / Operating profit after adjusting for foreign exchange gains and losses ¥5,000 million / Ordinary income ¥4,700 million / Profit attributable to owners of the parent ¥3,000 million / Fiscal year ending March 2027 Net Sales ¥80,000 million / Operating profit ¥3,400 million / Operating profit after adjusting for foreign exchange gains and losses ¥5,300 million / Ordinary income ¥4,900 million / Profit attributable to owners of the parent ¥3,400 million
Progress against full-year forecastNet Sales 100.3% / Operating profit 87.0% / Operating profit after adjusting for foreign exchange gains and losses 96.3% / Ordinary income 114.7% / Profit attributable to owners of the parent 103.9%
Self-assessment against the planRevenue achieved the target, operating profit fell short, operating profit after adjusting for foreign exchange gains and losses fell slightly short, and ordinary profit and net profit attributable to owners of the parent achieved their targets.
Segment resultsSewing business Net Sales ¥66,029 million (YoY +12.5%) / Segment profit ¥5,959 million (YoY +67.6%) / Units sold 6,350 10,000 passes (YoY +22.1%) / Lamination film business Net Sales ¥8,221 million (YoY -30.9%) / Segment profit ¥554 million (YoY -67.9%) / Yards sold 1,364 10,000 yards (YoY -25.2%)
Key KPIsIndicator name Revenue ratio from ASEAN countries and other markets / Value 67.5 % / Year on year against the same period last year +3.9 percentage points, Indicator name Revenue ratio from ASEAN countries and other markets in the garment manufacturing business / Value 72.6 % / Year on year against the same period last year Not disclosed, Indicator name ROE / Value 8 % / Year on year against the same period last year +0.7 percentage points, Indicator name ROA / Value 7.3 % / Year on year against the same period last year +1.2 percentage points, Indicator name Equity ratio / Value 53.1 % / Year on year against the same period last year +1.3 percentage points, Indicator name D/E ratio / Value 0.48 times / Year on year against the same period last year -0.08 percentage points
Unit price and quantity metricsIndicator name Units sold in the garment manufacturing business / Value 6,350 10,000 passes / Year on year against the same period last year +22.1%, Indicator name Yards sold in the lamination film business / Value 1,364 10,000 yards / Year on year against the same period last year -25.2%
Number of employeesOperates a training center with a capacity of 100 people. Plans to expand recruitment in the lamination film business.
Assumptions Underlying the Business OutlookItem Assumed average USD exchange rate during fiscal year ending March 2027 / Value 151.3 JPY/USD, Item Assumed USD exchange rate at fiscal year-end March 2027 / Value 152 JPY/USD, Item Assumed average CNY exchange rate during fiscal year ending March 2027 / Value 21.2 JPY/CNY, Item Planned units sold in the garment manufacturing business for the fiscal year ending March 2027 / Value 7,000 10,000 passes, Item Planned yards sold in the lamination film business for the fiscal year ending March 2027 / Value 1,500 10,000 yards
Medium-term management plan targetsPrevious medium-term management plan: Vision 2025 Net Sales ¥74,000 million / Ordinary income ¥4,700 million / Comparison with actual results Both revenue and ordinary profit exceeded the final targets. / New medium-term management plan: BEYOND2028 The fiscal year ending March 2027 will be the first year of the plan, but specific targets for the fiscal years ending March 2028 and March 2029 are not disclosed.
Annual DividendThe annual dividend is ¥100 for the fiscal year ended March 2026, comprising a regular dividend of ¥90 and a commemorative dividend of ¥10, and is scheduled to be ¥115 for the fiscal year ending March 2027. The interim and year-end breakdown is not disclosed.
Payout ratioA payout ratio of 35% will be the benchmark from the fiscal year ending March 2027 onward; the payout ratio for the fiscal year ended March 2026 was 33.5%.
Capital expenditures2,000 Millions of yen (actual for the fiscal year ended March 2026, approximately ¥2 billion)
New initiativesConstruction of a new factory in Indonesia (approximately ¥3 billion), Expansion investment at the Bangladesh factory (approximately ¥500 million), Software investment for MES implementation (approximately ¥200 million), Establishment of the IMBD training center in Bangladesh, Opening of sales offices in Shanghai and Ho Chi Minh City, Opening of official Instagram and X accounts
Items this document does not state (11)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesBreakdown of Factors Affecting the ChangeNumber of stores and locationsRisk amount incorporated into the outlookFinancial targetsAcquisition 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 garment manufacturing business, steady orders, stable production operations, expanded production capacity, and improved productivity contributed to higher revenue and profit. The lamination film business saw lower revenue and profit due to the fading of customers' hit products, weak market conditions in China, and slower replacement demand. The shortfall in the full-year operating profit forecast was attributed to an increase in the yen-denominated cost of overseas factories caused by the weaker yen.

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Supplementary Explanatory Materials for the Fiscal Year Ending March 2026 Results | MATSUOKA CORPORATION (3611) timely disclosure | Komori