Worth reading
52Recurring
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
31.8
% (year-on-year decline in operating income)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales80,081¥ millionYear on year -6.0%Progress 89.0%
Operating profit7,579¥ millionYear on year -31.8%Progress 89.2%
Ordinary income7,956¥ millionYear on year -29.3%Progress 91.4%
Net income attributable to owners of the parent3,326¥ millionYear on year -56.4%
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¥177.05
Operating MarginCurrent fiscal year 9.5 % / Previous period 13.1 %
Financial position at period-end
Total assets108,582¥ million
of which net assets 81,593 ¥ millionEquity ratio 74.5%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+10,449
Investment-9,539
Financials-1,712
Net change-802
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¥23,228 million
Segment revenuePiping Systems Business ¥48,117 million (YoY -8.0%), Resin Business ¥22,977 million (YoY -0.3%), Water Treatment and Resource Development Business ¥8,987 million (YoY -8.5%)
Segment profitPiping Systems Business ¥6,285 million (YoY -30.6%), Resin Business ¥918 million (YoY -18.0%), Water Treatment and Resource Development Business ¥575 million (YoY -25.1%)
Regional salesFiscal year ending March 2026 Japan ¥49,539 million / United States ¥14,091 million / Other ¥16,452 million / Total ¥80,081 million / Fiscal year ended March 2025 Japan ¥53,444 million / United States ¥16,149 million / Other ¥15,569 million / Total ¥85,162 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥90,000 million (YoY +12.4%)
Operating profit¥8,500 million (YoY +12.1%)
Ordinary income¥8,700 million (YoY +9.3%)
Profit attributable to owners of the parent¥6,100 million (YoY +83.4%)
Annual Dividend Forecast¥120 → ¥130
Payout ratio67.8% (actual for the fiscal year ended March 2026), 40.0% (forecast for the fiscal year ending March 2027)
Shareholder Return PolicyThe company follows a progressive dividend policy, maintaining annual dividends per share at or above the previous year's level. The total payout ratio is targeted at approximately 50% on a cumulative basis over 6 years.
Factors Behind Changes in Business Performance
Revenue declined due to the review and postponement of U.S. semiconductor plant construction projects and the delayed recovery in domestic capital investment and demand for plant construction. Profit declined due to higher fixed costs, including labor costs and depreciation. Profit attributable to owners of the parent declined due in part to the recognition of ¥1,975 million in impairment losses.
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 0 companies / Excluded 0 companies / Company name None applicable for additions or exclusions
Material subsequent eventsNot applicable.
Impairment loss¥1,975 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥70 million, Gain on sale of investment securities ¥0 million / Extraordinary loss Loss on sale of fixed assets ¥3 million, Loss on Disposal of Fixed Assets ¥64 million, Impairment Losses ¥1,975 million, Business structure improvement costs ¥131 million, Liquidated damages for construction delays ¥20 million / Total extraordinary loss ¥2,194 million
Depreciation and amortization¥3,381 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End19,800,400 Shares
Treasury Shares at Period-End1,016,508 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 | ¥80,081 million (YoY -6.0%) |
| Operating profit | ¥7,579 million (YoY -31.8%) |
| Ordinary income | ¥7,956 million (YoY -29.3%) |
| Profit attributable to owners of the parent | ¥3,326 million (YoY -56.4%) |
| Net income per share | ¥177.05 |
| Operating Margin | Current fiscal year 9.5 % / Previous period 13.1 % |
| Equity ratio | End of the current fiscal period 74.5 % / End of previous period 73.4 % |
| Total assets | ¥108,582 million |
| Net assets | ¥81,593 million |
| Cash flows from operating activities | ¥10,449 million |
| Cash flows from investing activities | ¥-9,539 million |
| Cash flows from financing activities | ¥-1,712 million |
| Cash and cash equivalents at end of period | ¥23,228 million |
| Full-year earnings forecast | Net Sales ¥90,000 million (YoY +12.4%) / Operating profit ¥8,500 million (YoY +12.1%) / Ordinary income ¥8,700 million (YoY +9.3%) / Profit attributable to owners of the parent ¥6,100 million (YoY +83.4%) |
| Annual Dividend Forecast | ¥120 → ¥130 |
| Payout ratio | 67.8% (actual for the fiscal year ended March 2026), 40.0% (forecast for the fiscal year ending March 2027) |
| Shareholder Return Policy | The company follows a progressive dividend policy, maintaining annual dividends per share at or above the previous year's level. The total payout ratio is targeted at approximately 50% on a cumulative basis over 6 years. |
| Segment revenue | Piping Systems Business ¥48,117 million (YoY -8.0%), Resin Business ¥22,977 million (YoY -0.3%), Water Treatment and Resource Development Business ¥8,987 million (YoY -8.5%) |
| Segment profit | Piping Systems Business ¥6,285 million (YoY -30.6%), Resin Business ¥918 million (YoY -18.0%), Water Treatment and Resource Development Business ¥575 million (YoY -25.1%) |
| Regional sales | Fiscal year ending March 2026 Japan ¥49,539 million / United States ¥14,091 million / Other ¥16,452 million / Total ¥80,081 million / Fiscal year ended March 2025 Japan ¥53,444 million / United States ¥16,149 million / Other ¥15,569 million / Total ¥85,162 million |
| Depreciation and amortization | ¥3,381 million |
| Impairment loss | ¥1,975 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥70 million, Gain on sale of investment securities ¥0 million / Extraordinary loss Loss on sale of fixed assets ¥3 million, Loss on Disposal of Fixed Assets ¥64 million, Impairment Losses ¥1,975 million, Business structure improvement costs ¥131 million, Liquidated damages for construction delays ¥20 million / Total extraordinary loss ¥2,194 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 0 companies / Excluded 0 companies / Company name None applicable for additions or exclusions |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 19,800,400 Shares |
| Treasury Shares at Period-End | 1,016,508 Shares |
| Factors Behind Changes in Business Performance | Revenue declined due to the review and postponement of U.S. semiconductor plant construction projects and the delayed recovery in domestic capital investment and demand for plant construction. Profit declined due to higher fixed costs, including labor costs and depreciation. Profit attributable to owners of the parent declined due in part to the recognition of ¥1,975 million in impairment losses. |
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 declined due to the review and postponement of U.S. semiconductor plant construction projects, as well as the slowdown in domestic capital investment and demand for plant construction. Profit declined because fixed costs, including labor costs and depreciation, increased as the company strengthened its business platform, primarily in growth areas. Net profit also declined, due in part to the recognition of ¥1,975 million in impairment losses as an extraordinary loss.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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