Worth reading
54Recurring
Scored from 4 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
-4.5
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales589,795¥ millionYear on year +0.2%Progress 96.7%
Operating profit49,726¥ millionYear on year -4.5%Progress 93.8%
Ordinary income54,713¥ millionYear on year +11.4%Progress 99.5%
Net income attributable to owners of the parent31,641¥ millionYear on year -17.4%
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¥179.65
Operating Margin8.4%
Financial position at period-end
Total assets801,693¥ million
of which net assets 381,203 ¥ millionEquity ratio 37.4%vs. prior year-end +1.5pt
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+52,616
Investment-27,026
Financials-22,182
Net change+3,408
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¥67,230 million
Segment revenueJapan ¥159,888 million (YoY -2.4%), India ¥138,358 million (YoY -2.8%), Europe ¥162,738 million (YoY +4.0%), Asia ¥68,064 million (YoY -0.9%), Africa ¥51,748 million (YoY +9.1%), Other ¥8,996 million (YoY -10.3%)
Segment profitJapan ¥21,968 million (YoY -8.2%), India ¥13,566 million (YoY -4.4%), Europe ¥945 million, Asia ¥9,082 million (YoY -1.2%), Africa ¥6,337 million (YoY +45.7%), Other ¥1,983 million (YoY -38.1%)
Regional sales¥159,888 million (YoY -2.4%), ¥138,358 million (YoY -2.8%), ¥162,738 million (YoY +4.0%), ¥68,064 million (YoY -0.9%), ¥51,748 million (YoY +9.1%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥610,000 million (YoY +3.4%)
Operating profit¥53,000 million (YoY +6.6%)
Ordinary income¥55,000 million (YoY +0.5%)
Profit attributable to owners of the parent¥27,000 million (YoY -14.7%)
Annual Dividend Forecast¥50 per share → ¥110 per share（+120.0%）
Payout ratio61.2%
Factors Behind Changes in Business Performance
Improved selling prices, cost reductions, higher fixed costs, foreign exchange gains, higher equity-method investment gains, the reversal of the nonrecurring extraordinary gain recorded in the previous fiscal year, and nonrecurring extraordinary losses, including early-retirement incentive payments and business withdrawal 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 Not disclosed / Excluded Not disclosed / Company name Not disclosed / Material changes No
Material subsequent eventsThe company resolved to implement the “True Color” restructuring project for its European business and expects to record an extraordinary loss of approximately ¥7.0 billion in the fiscal year ending March 2027.
Impairment loss¥1,069 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥5,017 million, Gain on sale of investment securities ¥2,602 million, Gain on sale of shares in an affiliated company ¥148 million, Gain on liquidation of affiliates ¥202 million / Extraordinary loss Loss on disposal and sale of non-current assets ¥477 million, Impairment Losses ¥1,069 million, Loss on sale of investment securities ¥0 million, Impairment loss on investment securities ¥999 million, Loss on sale of shares of subsidiaries and affiliates ¥216 million, Losses from natural disasters ¥219 million, Early retirement incentive payments ¥2,059 million, Loss on revision of retirement benefit plans ¥627 million
Depreciation and amortization¥23,280 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person Not disclosed
Issued Shares at Period-End177,976,280
Treasury Shares at Period-End1,929,971
| 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 | ¥589,795 million (YoY +0.2%) |
| Operating profit | ¥49,726 million (YoY -4.5%) |
| Ordinary income | ¥54,713 million (YoY +11.4%) |
| Profit attributable to owners of the parent | ¥31,641 million (YoY -17.4%) |
| Net income per share | ¥179.65 |
| Operating Margin | 8.4% |
| Equity ratio | End of the current fiscal period 37.4 / End of previous period 35.9 |
| Total assets | ¥801,693 million |
| Net assets | ¥381,203 million |
| Cash flows from operating activities | ¥52,616 million |
| Cash flows from investing activities | ¥-27,026 million |
| Cash flows from financing activities | ¥-22,182 million |
| Cash and cash equivalents at end of period | ¥67,230 million |
| Full-year earnings forecast | Net Sales ¥610,000 million (YoY +3.4%) / Operating profit ¥53,000 million (YoY +6.6%) / Ordinary income ¥55,000 million (YoY +0.5%) / Profit attributable to owners of the parent ¥27,000 million (YoY -14.7%) |
| Annual Dividend Forecast | ¥50 per share → ¥110 per share（+120.0%） |
| Payout ratio | 61.2% |
| Segment revenue | Japan ¥159,888 million (YoY -2.4%), India ¥138,358 million (YoY -2.8%), Europe ¥162,738 million (YoY +4.0%), Asia ¥68,064 million (YoY -0.9%), Africa ¥51,748 million (YoY +9.1%), Other ¥8,996 million (YoY -10.3%) |
| Segment profit | Japan ¥21,968 million (YoY -8.2%), India ¥13,566 million (YoY -4.4%), Europe ¥945 million, Asia ¥9,082 million (YoY -1.2%), Africa ¥6,337 million (YoY +45.7%), Other ¥1,983 million (YoY -38.1%) |
| Regional sales | ¥159,888 million (YoY -2.4%), ¥138,358 million (YoY -2.8%), ¥162,738 million (YoY +4.0%), ¥68,064 million (YoY -0.9%), ¥51,748 million (YoY +9.1%) |
| Depreciation and amortization | ¥23,280 million |
| Impairment loss | ¥1,069 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥5,017 million, Gain on sale of investment securities ¥2,602 million, Gain on sale of shares in an affiliated company ¥148 million, Gain on liquidation of affiliates ¥202 million / Extraordinary loss Loss on disposal and sale of non-current assets ¥477 million, Impairment Losses ¥1,069 million, Loss on sale of investment securities ¥0 million, Impairment loss on investment securities ¥999 million, Loss on sale of shares of subsidiaries and affiliates ¥216 million, Losses from natural disasters ¥219 million, Early retirement incentive payments ¥2,059 million, Loss on revision of retirement benefit plans ¥627 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 Not disclosed / Excluded Not disclosed / Company name Not disclosed / Material changes No |
| Material subsequent events | The company resolved to implement the “True Color” restructuring project for its European business and expects to record an extraordinary loss of approximately ¥7.0 billion in the fiscal year ending March 2027. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Not disclosed |
| Issued Shares at Period-End | 177,976,280 |
| Treasury Shares at Period-End | 1,929,971 |
| Factors Behind Changes in Business Performance | Improved selling prices, cost reductions, higher fixed costs, foreign exchange gains, higher equity-method investment gains, the reversal of the nonrecurring extraordinary gain recorded in the previous fiscal year, and nonrecurring extraordinary losses, including early-retirement incentive payments and business withdrawal losses. |
Items this document does not state (3)
Revision to Earnings ForecastShareholder Return PolicyOrders 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.Operating income declined due to higher fixed costs, despite progress in improving selling prices and reducing costs. Ordinary income increased due to foreign exchange gains and higher equity-method investment gains. Net income attributable to owners of the parent declined because the nonrecurring extraordinary gain recorded in the previous fiscal year was no longer present, and nonrecurring extraordinary losses, including early-retirement incentive payments and business withdrawal losses, were recorded.
How to read this page
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