Worth reading
50Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
13.4
% (year-on-year change in operating income)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales78,163¥ millionYear on year +5.3%Progress 93.1%
Operating profit5,685¥ millionYear on year +13.4%Progress 90.2%
Ordinary income6,261¥ millionYear on year +14.9%Progress 96.3%
Net income attributable to owners of the parent3,975¥ millionYear on year +12.2%
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¥130.51
Operating MarginCurrent fiscal year 7.3 % / Previous period 6.8 %
Financial position at period-end
Total assets142,568¥ million
of which net assets 101,103 ¥ millionEquity ratio 69.6%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+7,994
Investment-4,326
Financials-4,634
Net change-966
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¥15,302 million
Segment revenuePublic sector ¥41,589 million (YoY +7.1%), Private sector ¥36,573 million (YoY +3.3%)
Segment profitPublic sector ¥2,728 million (YoY +46.8%), Private sector ¥3,883 million (YoY -4.4%)
Regional sales¥63,758 million (YoY +5.4%), ¥12,265 million (YoY +4.6%), ¥2,139 million (YoY +6.1%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥84,000 million (YoY +7.5%)
Operating profit¥6,300 million (YoY +10.8%)
Ordinary income¥6,500 million (YoY +3.8%)
Profit attributable to owners of the parent¥4,400 million (YoY +10.7%)
Annual Dividend Forecast¥72 → ¥82（+13.9%）
Payout ratio55.2
Shareholder Return PolicyThe basic policy through the fiscal year ending March 2030 is to progressively increase dividends, with a target of maintaining a consolidated dividend payout ratio of at least 40%. Through the fiscal year ending March 2027, the company aims to maintain a total payout ratio of at least 100%, including dividends and share repurchases.
Factors Behind Changes in Business Performance
Existing businesses remained solid, and 理研興業株式会社 was newly included in the scope of consolidation. Despite the impact of continued investment in human capital and growth and amortization of goodwill related to M&A, profit increased.
Disclosure regarding the going concern assumption
Not applicable (no matters to report in the notes on the going concern assumption)
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 0 companies (company name: -) / Excluded 0 companies (company name: -)
Material subsequent eventsThe company will cancel 1,000,000 treasury shares on 10 September 2026. It will acquire up to 1,000,000 treasury shares from 15 May 2026 to 31 March 2027, with a maximum total acquisition price of ¥2,700 million.
Impairment lossNo applicable matters.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities ¥364 million / Extraordinary loss Loss on sale and retirement of fixed assets ¥230 million
Depreciation and amortization¥2,545 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and securities analysts)
Issued Shares at Period-End31,813,598 Shares
Treasury Shares at Period-End1,846,451 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 | ¥78,163 million (YoY +5.3%) |
| Operating profit | ¥5,685 million (YoY +13.4%) |
| Ordinary income | ¥6,261 million (YoY +14.9%) |
| Profit attributable to owners of the parent | ¥3,975 million (YoY +12.2%) |
| Net income per share | ¥130.51 |
| Operating Margin | Current fiscal year 7.3 % / Previous period 6.8 % |
| Equity ratio | End of the current fiscal period 69.6 / End of previous period 68.5 |
| Total assets | ¥142,568 million |
| Net assets | ¥101,103 million |
| Cash flows from operating activities | ¥7,994 million |
| Cash flows from investing activities | ¥-4,326 million |
| Cash flows from financing activities | ¥-4,634 million |
| Cash and cash equivalents at end of period | ¥15,302 million |
| Full-year earnings forecast | Net Sales ¥84,000 million (YoY +7.5%) / Operating profit ¥6,300 million (YoY +10.8%) / Ordinary income ¥6,500 million (YoY +3.8%) / Profit attributable to owners of the parent ¥4,400 million (YoY +10.7%) |
| Annual Dividend Forecast | ¥72 → ¥82（+13.9%） |
| Payout ratio | 55.2 |
| Shareholder Return Policy | The basic policy through the fiscal year ending March 2030 is to progressively increase dividends, with a target of maintaining a consolidated dividend payout ratio of at least 40%. Through the fiscal year ending March 2027, the company aims to maintain a total payout ratio of at least 100%, including dividends and share repurchases. |
| Segment revenue | Public sector ¥41,589 million (YoY +7.1%), Private sector ¥36,573 million (YoY +3.3%) |
| Segment profit | Public sector ¥2,728 million (YoY +46.8%), Private sector ¥3,883 million (YoY -4.4%) |
| Regional sales | ¥63,758 million (YoY +5.4%), ¥12,265 million (YoY +4.6%), ¥2,139 million (YoY +6.1%) |
| Depreciation and amortization | ¥2,545 million |
| Impairment loss | No applicable matters. |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities ¥364 million / Extraordinary loss Loss on sale and retirement of fixed assets ¥230 million |
| Disclosure regarding the going concern assumption | Not applicable (no matters to report in the notes on the going concern assumption) |
| 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 0 companies (company name: -) / Excluded 0 companies (company name: -) |
| Material subsequent events | The company will cancel 1,000,000 treasury shares on 10 September 2026. It will acquire up to 1,000,000 treasury shares from 15 May 2026 to 31 March 2027, with a maximum total acquisition price of ¥2,700 million. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and securities analysts) |
| Issued Shares at Period-End | 31,813,598 Shares |
| Treasury Shares at Period-End | 1,846,451 Shares |
| Factors Behind Changes in Business Performance | Existing businesses remained solid, and 理研興業株式会社 was newly included in the scope of consolidation. Despite the impact of continued investment in human capital and growth and amortization of goodwill related to M&A, profit increased. |
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.Revenue increased as existing businesses remained solid and 理研興業株式会社 was newly included in the scope of consolidation. Despite the impact of continued investment in human capital and growth and amortization of goodwill related to M&A, profit increased.
How to read this page
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