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
1.4
Year-on-year decrease in operating income (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales1,309,281¥ millionYear on year +0.9%Progress 93.0%
Operating profit106,477¥ millionYear on year -1.4%Progress 92.6%
Ordinary income117,215¥ millionYear on year +5.6%Progress 102.8%
Net income attributable to owners of the parent75,174¥ millionYear on year -8.2%Progress 98.9%
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 shareCurrent fiscal year ¥182.70 / Previous period ¥195.93
Operating MarginCurrent fiscal year 8.1% / Previous period 8.3%
Financial position at period-end
Total assets1,427,933¥ million
of which net assets 881,125 ¥ millionEquity ratio 59.6%vs. prior year-end -1.1pt
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+78,301
Investment-69,103
Financials-46,546
Net change-37,348
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¥92,444 million
Segment revenueHousing 5,362 Hundreds of millions of yen (YoY +2.3%), Environmental and Lifeline Infrastructure 2,404 Hundreds of millions of yen (YoY -0.0%), High-Performance Plastics 4,565 Hundreds of millions of yen (YoY +2.1%), Medical 937 Hundreds of millions of yen (YoY -5.5%)
Segment profitHousing 371 Hundreds of millions of yen (YoY +17.9%), Environmental and Lifeline Infrastructure 232 Hundreds of millions of yen (YoY +1.3%), High-Performance Plastics 593 Hundreds of millions of yen (YoY -3.1%), Medical 111 Hundreds of millions of yen (YoY -13.0%)
Regional sales¥891,457 million, ¥143,737 million, ¥98,633 million, ¥90,732 million, ¥73,926 million, ¥10,792 million
Outlook and shareholder returns
Full-year earnings forecast
Period Covered1 April 2026 to 31 March 2027
Net Sales¥1,408,400 million (YoY +7.6%)
Operating profit¥115,000 million (YoY +8.0%)
Ordinary income¥114,000 million (YoY -2.7%)
Net income¥76,000 million (YoY +1.1%)
Annual Dividend Forecast80 Yen and sen (per share) → 81 Yen and sen (per share)（+1.3%）
Payout ratioCurrent fiscal year 43.6% / Next-year forecast 43.0%
Shareholder Return PolicyA payout ratio of at least 40%, DOE of at least 3%, and a total payout ratio of at least 50% with a D/E ratio of no more than 0.5; treasury shares acquired are to be cancelled so that treasury shares remain within 5% of total shares issued
Factors Behind Changes in Business Performance
Although the domestic housing and non-residential markets remained sluggish, semiconductor and aircraft markets remained firm, and net sales reached a record high. The shift toward high-value-added products progressed, but operating income declined due to slower growth in the EV market and lower overseas demand for testing kits for priority infectious diseases. Ordinary income and net income were affected by foreign exchange gains and impairment losses, respectively.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 2 / Company name 株式会社ベンハウス, 株式会社アーキテックプランニング / Excluded Number of companies 0 / Company name Not disclosed
Material subsequent eventsNot applicable.
Impairment loss¥23,302 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities ¥14,747 million, Gain on sale of non-current assets ¥150 million, Gain on negative goodwill ¥50 million / Extraordinary loss Impairment Losses ¥23,302 million, Loss on disposal and sale of non-current assets ¥2,733 million, Impairment Loss on Investment Securities ¥1,104 million
Depreciation and amortization¥56,872 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingHeld (対象者：Not disclosed)
Issued Shares at Period-End430,507,285 shares
Treasury Shares at Period-End26,801,299 shares
| 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 | ¥1,309,281 million (YoY +0.9%) |
| Operating profit | ¥106,477 million (YoY -1.4%) |
| Ordinary income | ¥117,215 million (YoY +5.6%) |
| Profit attributable to owners of the parent | ¥75,174 million (YoY -8.2%) |
| Net income per share | Current fiscal year ¥182.70 / Previous period ¥195.93 |
| Operating Margin | Current fiscal year 8.1% / Previous period 8.3% |
| Equity ratio | End of the current fiscal period 59.6% / End of previous period 60.7% |
| Total assets | ¥1,427,933 million |
| Net assets | ¥881,125 million |
| Cash flows from operating activities | ¥78,301 million |
| Cash flows from investing activities | ¥-69,103 million |
| Cash flows from financing activities | ¥-46,546 million |
| Cash and cash equivalents at end of period | ¥92,444 million |
| Full-year earnings forecast | Period Covered 1 April 2026 to 31 March 2027 / Net Sales ¥1,408,400 million (YoY +7.6%) / Operating profit ¥115,000 million (YoY +8.0%) / Ordinary income ¥114,000 million (YoY -2.7%) / Net income ¥76,000 million (YoY +1.1%) |
| Annual Dividend Forecast | 80 Yen and sen (per share) → 81 Yen and sen (per share)（+1.3%） |
| Payout ratio | Current fiscal year 43.6% / Next-year forecast 43.0% |
| Shareholder Return Policy | A payout ratio of at least 40%, DOE of at least 3%, and a total payout ratio of at least 50% with a D/E ratio of no more than 0.5; treasury shares acquired are to be cancelled so that treasury shares remain within 5% of total shares issued |
| Segment revenue | Housing 5,362 Hundreds of millions of yen (YoY +2.3%), Environmental and Lifeline Infrastructure 2,404 Hundreds of millions of yen (YoY -0.0%), High-Performance Plastics 4,565 Hundreds of millions of yen (YoY +2.1%), Medical 937 Hundreds of millions of yen (YoY -5.5%) |
| Segment profit | Housing 371 Hundreds of millions of yen (YoY +17.9%), Environmental and Lifeline Infrastructure 232 Hundreds of millions of yen (YoY +1.3%), High-Performance Plastics 593 Hundreds of millions of yen (YoY -3.1%), Medical 111 Hundreds of millions of yen (YoY -13.0%) |
| Regional sales | ¥891,457 million, ¥143,737 million, ¥98,633 million, ¥90,732 million, ¥73,926 million, ¥10,792 million |
| Depreciation and amortization | ¥56,872 million |
| Impairment loss | ¥23,302 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities ¥14,747 million, Gain on sale of non-current assets ¥150 million, Gain on negative goodwill ¥50 million / Extraordinary loss Impairment Losses ¥23,302 million, Loss on disposal and sale of non-current assets ¥2,733 million, Impairment Loss on Investment Securities ¥1,104 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 2 / Company name 株式会社ベンハウス, 株式会社アーキテックプランニング / Excluded Number of companies 0 / Company name Not disclosed |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Held (対象者：Not disclosed) |
| Issued Shares at Period-End | 430,507,285 shares |
| Treasury Shares at Period-End | 26,801,299 shares |
| Factors Behind Changes in Business Performance | Although the domestic housing and non-residential markets remained sluggish, semiconductor and aircraft markets remained firm, and net sales reached a record high. The shift toward high-value-added products progressed, but operating income declined due to slower growth in the EV market and lower overseas demand for testing kits for priority infectious diseases. Ordinary income and net income were affected by foreign exchange gains and impairment losses, respectively. |
Items this document does not state (2)
Revision to Earnings ForecastOrders received and order backlog
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.The domestic housing and non-residential markets remained sluggish, while semiconductor and aircraft markets were firm and the shift toward high-value-added products progressed. Operating income declined mainly due to slower growth in the EV market and lower overseas demand for testing kits for priority infectious diseases. Foreign exchange gains were the main factor affecting ordinary income, while impairment losses were the main factor affecting net income.
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