Worth reading
66In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
9.4
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales95,413¥ millionYear on year +0.6%Progress 95.4%
Operating profit4,296¥ millionYear on year +9.4%Progress 134.3%
Ordinary income5,728¥ millionYear on year -8.0%Progress 98.8%
Net income attributable to owners of the parent4,368¥ millionYear on year +21.1%
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¥125.01
Financial position at period-end
Total assets141,310¥ million
of which net assets 90,102 ¥ millionEquity ratio 58.9%vs. prior year-end +2.6pt
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+9,894
Investment-7,921
Financials-5,486
Net change-3,513
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¥7,085 million
Segment revenueIndustrial Materials Business ¥44,467 million (YoY -0.7%), Specialty materials business ¥20,288 million (YoY -5.5%), Lifestyle products business ¥18,993 million (YoY +1.9%), Environmental Business ¥18,089 million (YoY +7.8%)
Segment profitIndustrial Materials Business ¥1,169 million (YoY +7.4%), Specialty materials business ¥1,494 million (YoY -8.8%), Lifestyle products business ¥798 million (YoY +49.8%), Environmental Business ¥755 million (YoY +42.7%)
Outlook and shareholder returns
Full-year earnings forecast
Target fiscal yearFiscal year ending March 2027
Net Sales¥100,000 million (YoY +4.8%)
Operating profit¥3,200 million (YoY -25.5%)
Ordinary income¥5,800 million (YoY +1.3%)
Profit attributable to owners of the parent¥4,600 million (YoY +5.3%)
Annual Dividend Forecast¥53.67 per share → ¥94 per share（+75.1%）
Payout ratio42.9％
Shareholder Return PolicyStable dividends with a target payout ratio of 30%. For the next fiscal year, the basic policy is to apply the higher of a payout ratio of 50% and a DOE of 4.0%.
Factors Behind Changes in Business Performance
Price revisions in response to rising raw material costs, expansion of the recycling business in the environmental business, declining domestic demand and rising raw material costs in the specialty materials business, the penetration of price revisions in the lifestyle products business, and contributions from subsidiaries in the environmental business.
Disclosure regarding the going concern assumption
No applicable matters
Material subsequent eventsEffective 1 April 2026, the Company absorbed its wholly owned subsidiary, TT Trading Co., Ltd. The Company also resolved to introduce a restricted stock compensation plan and submit the proposal to the General Meeting of Shareholders.
Impairment loss¥65 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥47 million, Reversal of provision for business structure improvement ¥141 million, Insurance proceeds received ¥450 million, Other regions ¥85 million / Extraordinary loss Loss on sale of fixed assets ¥1 million, Loss on Disposal of Fixed Assets ¥139 million, Impairment Losses ¥65 million, Provision for allowance for doubtful accounts ¥17 million, Expense for provision for loss on an affiliated company's business ¥3 million
Depreciation and amortization¥6,607 million
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥95,413 million (YoY +0.6%) |
| Operating profit | ¥4,296 million (YoY +9.4%) |
| Ordinary income | ¥5,728 million (YoY -8.0%) |
| Profit attributable to owners of the parent | ¥4,368 million (YoY +21.1%) |
| Net income per share | ¥125.01 |
| Equity ratio | End of the current fiscal period 58.9％ / End of previous period 56.3％ |
| Total assets | ¥141,310 million |
| Net assets | ¥90,102 million |
| Cash flows from operating activities | ¥9,894 million |
| Cash flows from investing activities | ¥-7,921 million |
| Cash flows from financing activities | ¥-5,486 million |
| Cash and cash equivalents at end of period | ¥7,085 million |
| Full-year earnings forecast | Target fiscal year Fiscal year ending March 2027 / Net Sales ¥100,000 million (YoY +4.8%) / Operating profit ¥3,200 million (YoY -25.5%) / Ordinary income ¥5,800 million (YoY +1.3%) / Profit attributable to owners of the parent ¥4,600 million (YoY +5.3%) |
| Annual Dividend Forecast | ¥53.67 per share → ¥94 per share（+75.1%） |
| Payout ratio | 42.9％ |
| Shareholder Return Policy | Stable dividends with a target payout ratio of 30%. For the next fiscal year, the basic policy is to apply the higher of a payout ratio of 50% and a DOE of 4.0%. |
| Segment revenue | Industrial Materials Business ¥44,467 million (YoY -0.7%), Specialty materials business ¥20,288 million (YoY -5.5%), Lifestyle products business ¥18,993 million (YoY +1.9%), Environmental Business ¥18,089 million (YoY +7.8%) |
| Segment profit | Industrial Materials Business ¥1,169 million (YoY +7.4%), Specialty materials business ¥1,494 million (YoY -8.8%), Lifestyle products business ¥798 million (YoY +49.8%), Environmental Business ¥755 million (YoY +42.7%) |
| Depreciation and amortization | ¥6,607 million |
| Impairment loss | ¥65 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥47 million, Reversal of provision for business structure improvement ¥141 million, Insurance proceeds received ¥450 million, Other regions ¥85 million / Extraordinary loss Loss on sale of fixed assets ¥1 million, Loss on Disposal of Fixed Assets ¥139 million, Impairment Losses ¥65 million, Provision for allowance for doubtful accounts ¥17 million, Expense for provision for loss on an affiliated company's business ¥3 million |
| Disclosure regarding the going concern assumption | No applicable matters |
| Material subsequent events | Effective 1 April 2026, the Company absorbed its wholly owned subsidiary, TT Trading Co., Ltd. The Company also resolved to introduce a restricted stock compensation plan and submit the proposal to the General Meeting of Shareholders. |
| Factors Behind Changes in Business Performance | Price revisions in response to rising raw material costs, expansion of the recycling business in the environmental business, declining domestic demand and rising raw material costs in the specialty materials business, the penetration of price revisions in the lifestyle products business, and contributions from subsidiaries in the environmental business. |
Items this document does not state (10)
Operating MarginRevision to Earnings ForecastRegional salesOrders received and order backlogChange in accounting policyChanges in the scope of consolidationAvailability of Supplementary Financial Results MaterialsAvailability of Financial Results BriefingIssued Shares at Period-EndTreasury Shares at Period-End
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 addition to implementing price revisions in response to rising raw material costs, the Company expanded its recycling business in the environmental business. In the next fiscal year, however, temporary suspension of production facilities in the specialty materials business and upfront costs to expand new business opportunities in the resource reuse business are expected.
How to read this page
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