Worth reading
63In 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
-206
¥ million (variance from operating income plan)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFull fiscal year ended June 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥18,808 million+6.7%
Operating profit¥1,504 million-12.1%
Net income¥984 million-11.9%
Gross Profit Margin15.3 %
Operating profit margin8 %
Selling, general and administrative expenses¥1,410 million
Results for the three months of the current quarterA graph shows quarterly trends in revenue and operating profit from Q1 to Q4 of the fiscal year ended June 2026
Full-year earnings forecast
Fiscal year ending June 2027
Revenue
¥20,699 million
Gross profit
¥3,146 million
Selling, general and administrative expenses
¥1,516 million
Operating profit
¥1,697 million
Profit for the period
¥1,101 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。
Compared with the plan for the fiscal year ended June 2026
Revenue96.5 %
Gross profit89.9 %
Selling, general and administrative expenses92.3 %
Operating profit89.2 %
Profit for the period89.4 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue was broadly in line with plan, while operating profit came in below planKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
- Questions Equity ratio and funding policy / Answer The equity ratio is 34.6%. While no specific target level has been set, the company aims to maintain a stable financial position. Borrowings for working capital and M&A are also anticipated.
- Questions Response to the risk of logistics disruptions and delivery delays / Answer For public works, procurement is carried out based on the client’s approval and requirements. For private-sector projects, the company arranges key materials early to mitigate risk.
- Questions Impact of increased orders on profitability / Answer A racehorse training center is less profitable than public civil engineering works, but there is no significant change in margins on other public civil engineering projects or on increases in the value of existing projects.
- Questions Why is revenue growth for the fiscal year ending June 2027 limited to 10% despite the increase in the order backlog? / Answer Some large orders are multi-year projects, and approximately half of the revenue is expected to be recognized in the fiscal year ending June 2028.
- Questions Snowfall assumptions for the fiscal year ending June 2027 / Answer Snowfall is expected to be at a level similar to that in the fiscal year ended June 2026, which is also low compared with historical levels.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Downside in snow-removal-related revenue due to lower snowfall, the earlier-than-expected resumption of construction work, deterioration in the project mix due to the higher proportion of public works, and the absence of listing-related expenses and other costs
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Scale of snow-removal operationsAssumptionsAt a level similar to the fiscal year ended June 2026
- Order timingAssumptionsOrders for the fiscal year ending June 2027 are expected to be concentrated in the second half
New initiatives
- Established a Corporate Planning Department reporting directly to the president in December 2025
- Expanded M&A sourcing channels and accelerated the review process
- Secured projects in the defense sector and shared order-winning experience within the group
- Formulated Long-Term Vision 2036 toward the fiscal year ending June 2036
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥22,371 millionYear on year against the same period last year+19.8%
- Order backlog¥20,611 millionYear on year against the same period last year+20.9%
- ROE24.8 %
- Number of employees378 People
Financial targets
ROE
TargetAt least 20% (fiscal year ending June 2036)
Actual results24.8% (fiscal year ended June 2026)
Equity ratio
Actual results34.6% (as of the end of June 2026)
Market Size / Share
Market Size
- ¥63.6 trillionRangeDomestic construction investment
- ¥5.1 trillionRangeConstruction investment in Tohoku
- ¥2.1 trillionRangePublic civil engineering works in Tohoku
Competitive comparisonCombined revenue of 26 major and mid-sized general contractors: ¥19.3 trillion
Orders received and order backlog
Orders received
¥22,371 million
Order backlog
¥20,611 million
Number of employees
Number of Employees378 people as of the end of June 2026
Annual Dividend
Annual dividend per share¥45
Payout ratio
40.4| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Full fiscal year ended June 2026 |
| Net Sales | ¥18,808 million (YoY +6.7%) |
| Operating profit | ¥1,504 million (YoY -12.1%) |
| Net income | ¥984 million (YoY -11.9%) |
| Gross Profit Margin | 15.3 % |
| Operating profit margin | 8 % |
| Selling, general and administrative expenses | ¥1,410 million |
| Results for the three months of the current quarter | A graph shows quarterly trends in revenue and operating profit from Q1 to Q4 of the fiscal year ended June 2026 |
| Full-year earnings forecast | Fiscal year ending June 2027 Revenue ¥20,699 million / Gross profit ¥3,146 million / Selling, general and administrative expenses ¥1,516 million / Operating profit ¥1,697 million / Profit for the period ¥1,101 million |
| Progress against full-year forecast | Compared with the plan for the fiscal year ended June 2026 Revenue 96.5 % / Gross profit 89.9 % / Selling, general and administrative expenses 92.3 % / Operating profit 89.2 % / Profit for the period 89.4 % |
| Self-assessment against the plan | Revenue was broadly in line with plan, while operating profit came in below plan |
| Breakdown of Factors Affecting the Change | Downside in snow-removal-related revenue due to lower snowfall, the earlier-than-expected resumption of construction work, deterioration in the project mix due to the higher proportion of public works, and the absence of listing-related expenses and other costs |
| Key KPIs | Indicator name Orders received / Value ¥22,371 million / Year on year against the same period last year ¥19.8 million, Indicator name Order backlog / Value ¥20,611 million / Year on year against the same period last year ¥20.9 million, Indicator name ROE / Value 24.8 % / Year on year against the same period last year Not disclosed, Indicator name Number of employees / Value 378 People / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 378 people (as of the end of June 2026) / Change during the period Not disclosed / Hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | Item Scale of snow-removal operations / Assumptions At a level similar to the fiscal year ended June 2026, Item Order timing / Assumptions Orders for the fiscal year ending June 2027 are expected to be concentrated in the second half |
| Financial targets | ROE Target At least 20% (fiscal year ending June 2036) / Actual results 24.8% (fiscal year ended June 2026) / Equity ratio Target Not disclosed / Actual results 34.6% (as of the end of June 2026) |
| Annual Dividend | Annual dividend per share ¥45 / Interim Not disclosed / End of period Not disclosed |
| Payout ratio | 40.4 |
| Orders received and order backlog | Orders received ¥22,371 million / Order backlog ¥20,611 million |
| Market Size / Share | Market Size ¥63.6 trillion, ¥5.1 trillion, ¥2.1 trillion / Share Not disclosed / Competitive comparison Combined revenue of 26 major and mid-sized general contractors: ¥19.3 trillion |
| Key points of the Q&A | Questions Equity ratio and funding policy / Answer The equity ratio is 34.6%. While no specific target level has been set, the company aims to maintain a stable financial position. Borrowings for working capital and M&A are also anticipated., Questions Response to the risk of logistics disruptions and delivery delays / Answer For public works, procurement is carried out based on the client’s approval and requirements. For private-sector projects, the company arranges key materials early to mitigate risk., Questions Impact of increased orders on profitability / Answer A racehorse training center is less profitable than public civil engineering works, but there is no significant change in margins on other public civil engineering projects or on increases in the value of existing projects., Questions Why is revenue growth for the fiscal year ending June 2027 limited to 10% despite the increase in the order backlog? / Answer Some large orders are multi-year projects, and approximately half of the revenue is expected to be recognized in the fiscal year ending June 2028., Questions Snowfall assumptions for the fiscal year ending June 2027 / Answer Snowfall is expected to be at a level similar to that in the fiscal year ended June 2026, which is also low compared with historical levels. |
| New initiatives | Established a Corporate Planning Department reporting directly to the president in December 2025, Expanded M&A sourcing channels and accelerated the review process, Secured projects in the defense sector and shared order-winning experience within the group, Formulated Long-Term Vision 2036 toward the fiscal year ending June 2036 |
Items this document does not state (8)
Ordinary incomeSegment resultsUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition of treasury sharesCapital expenditures
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.Snow-removal-related revenue fell short of expectations because snowfall was exceptionally light compared with a normal year, while revenue was secured through the earlier-than-expected resumption of construction work. However, the project mix deteriorated as the proportion of public works increased, resulting in lower operating profit and performance below plan.
How to read this page
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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.