Worth reading
53Recurring
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
-997
Year-on-year change in operating income (¥100 million)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFY2025 full year (with FY2026 full-year forecast also presented)8 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥10,668 hundred million+5.3%
Operating profit¥-372 hundred million
Ordinary income¥-514 100 million profit before tax
Net income¥-639 100 million profit for the year attributable to owners of the parent
Selling, general and administrative expenses¥2,015 hundred million
Operating profit margin
rate_pct-3.5
yoy_change_points-9.7
Full-year earnings forecast
Revenue
¥11,400 hundred million
Business profit
¥764 hundred million
Non-recurring factors
¥-284 hundred million
Operating profit
¥480 hundred million
Profit attributable to owners of the parent
¥280 hundred million
Business profit margin
6.7 %
Operating profit margin
4.2 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Increase from recurring factors¥70 hundred million
- Decrease from recurring factors¥-27 hundred million
- Impairment Losses¥-1,080 hundred million
- Impact of business withdrawals¥-11 hundred million
- Gains and losses on disposal and sale of non-current assets¥0 hundred million
- Gain on step acquisition¥123 hundred million
- Other extraordinary gains (losses)¥-19 hundred million
- Investigation-related expenses¥-130 hundred million
New initiatives
- Establishment of a new Board of Directors secretariat
- Establishment of a management reform office
- Increase in the number of outside directors and overhaul of the internal director structure
- Establishment of a chief officer overseeing accounting and finance
- Increase in staff in the internal audit and head-office accounting departments
- Transition to a Company with an Audit and Supervisory Committee
- Review of the business portfolio and business transfers
- FY2026 capital investment in gas plants for the semiconductor industry, industrial gas plants in North America and India, and medical gas-filling equipment
Key KPIsA metric the company considers important as a management benchmark.
- Operating Cash Flow¥1,076 hundred millionYear on year against the same period last year+148.0%
- Free cash flow¥190 hundred millionYear on year against the same period last year-135.0%
- EPS (earnings per share)¥-279Year on year against the same period last year-454.0%
- Business profit margin7 %Year on year against the same period last year+0.1%
- Net debt-to-equity ratio1.1 timesYear on year against the same period last year+0.2%
Segment results
Digital & Industry
Revenue
¥3,299 hundred million-4.2%
Business profit
¥326 hundred million-3.6%
Operating profit
¥-409 hundred million
Energy Solutions
Revenue
¥985 hundred million+6.3%
Business profit
¥101 hundred million+23.2%
Operating profit
¥64 hundred million-21.4%
Health & Safety
Revenue
¥2,685 hundred million+21.8%
Business profit
¥162 hundred million+20.0%
Operating profit
¥104 hundred million-13.0%
Agri & Foods
Revenue
¥1,530 hundred million+2.2%
Business profit
¥71 hundred million+9.2%
Operating profit
¥37 hundred million-26.5%
Other Businesses
Revenue
¥2,169 hundred million+5.4%
Business profit
¥134 hundred million+13.6%
Operating profit
¥15 hundred million-80.3%
Financial targets
ROE
Actual results9.2 % FY2024
ROIC
Actual results4.8 % FY2024
Net debt-to-equity ratio
Actual results1.1 x end of March 2025
Number of employees
Number of Employees21,824 people
Reference dateEnd of March 2026
Hiring planPlans to increase headcount by approximately 100–200 people
Capital expenditures
¥651 100 million FY2025 actual
Full-year forecast
¥748 100 million FY2026
Annual Dividend
FY2025
Annual¥75 per share
FY2026 forecastUndecided
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | FY2025 full year (with FY2026 full-year forecast also presented) |
| Net Sales | ¥10,668 hundred million (YoY +5.3%) |
| Operating profit | ¥-372 hundred million |
| Ordinary income | ¥-514 100 million (profit before tax) |
| Net income | ¥-639 100 million (profit for the year attributable to owners of the parent) |
| Operating profit margin | rate_pct -3.5 / yoy_change_points -9.7 |
| Selling, general and administrative expenses | ¥2,015 hundred million |
| Full-year earnings forecast | Revenue ¥11,400 hundred million / Business profit ¥764 hundred million / Non-recurring factors ¥-284 hundred million / Operating profit ¥480 hundred million / Profit attributable to owners of the parent ¥280 hundred million / Business profit margin 6.7 % / Operating profit margin 4.2 % |
| Segment results | Digital & Industry Revenue ¥3,299 hundred million (YoY -4.2%) / Business profit ¥326 hundred million (YoY -3.6%) / Operating profit ¥-409 hundred million / Energy Solutions Revenue ¥985 hundred million (YoY +6.3%) / Business profit ¥101 hundred million (YoY +23.2%) / Operating profit ¥64 hundred million (YoY -21.4%) / Health & Safety Revenue ¥2,685 hundred million (YoY +21.8%) / Business profit ¥162 hundred million (YoY +20.0%) / Operating profit ¥104 hundred million (YoY -13.0%) / Agri & Foods Revenue ¥1,530 hundred million (YoY +2.2%) / Business profit ¥71 hundred million (YoY +9.2%) / Operating profit ¥37 hundred million (YoY -26.5%) / Other Businesses Revenue ¥2,169 hundred million (YoY +5.4%) / Business profit ¥134 hundred million (YoY +13.6%) / Operating profit ¥15 hundred million (YoY -80.3%) |
| Breakdown of Factors Affecting the Change | Factors Increase from recurring factors / Amount ¥70 hundred million, Factors Decrease from recurring factors / Amount ¥-27 hundred million, Factors Impairment Losses / Amount ¥-1,080 hundred million, Factors Impact of business withdrawals / Amount ¥-11 hundred million, Factors Gains and losses on disposal and sale of non-current assets / Amount ¥0 hundred million, Factors Gain on step acquisition / Amount ¥123 hundred million, Factors Other extraordinary gains (losses) / Amount ¥-19 hundred million, Factors Investigation-related expenses / Amount ¥-130 hundred million |
| Key KPIs | Indicator name Operating Cash Flow / Value ¥1,076 hundred million / Year on year against the same period last year ¥148 hundred million, Indicator name Free cash flow / Value ¥190 hundred million / Year on year against the same period last year ¥-135 hundred million, Indicator name EPS (earnings per share) / Value ¥-279 / Year on year against the same period last year ¥-454, Indicator name Business profit margin / Value 7 % / Year on year against the same period last year 0.1 %, Indicator name Net debt-to-equity ratio / Value 1.1 times / Year on year against the same period last year 0.21 times |
| Number of employees | Number of Employees 21,824 people / Reference date End of March 2026 / Change during the period Not disclosed / Hiring plan Plans to increase headcount by approximately 100–200 people |
| Financial targets | ROE Actual results 9.2 % (FY2024) / ROIC Actual results 4.8 % (FY2024) / Net debt-to-equity ratio Actual results 1.1 x (end of March 2025) |
| Annual Dividend | FY2025 Annual ¥75 per share / FY2026 forecast Undecided |
| Capital expenditures | ¥651 100 million (FY2025 actual) |
| New initiatives | Establishment of a new Board of Directors secretariat, Establishment of a management reform office, Increase in the number of outside directors and overhaul of the internal director structure, Establishment of a chief officer overseeing accounting and finance, Increase in staff in the internal audit and head-office accounting departments, Transition to a Company with an Audit and Supervisory Committee, Review of the business portfolio and business transfers, FY2026 capital investment in gas plants for the semiconductor industry, industrial gas plants in North America and India, and medical gas-filling equipment |
Items this document does not state (14)
Gross Profit MarginResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk 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.Business profit benefited from pricing measures for gas and other products, as well as the semiconductor-related and disaster-prevention businesses, but was weighed down by stagnation in India, North America and UPS, and deteriorating helium market conditions. The deterioration in operating profit and profit attributable to owners of the parent was due to non-recurring factors, including ¥108.0 billion in impairment losses on goodwill and fixed assets, and ¥13.0 billion in investigation-related expenses.
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