Worth reading
54Recurring
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
9.1
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Results for this period
First quarter1 April 2026 to 30 June 2026ConsolidatedJapanese GAAPNet Sales157,853JPY millionYear on year +9.1%Progress 25.1%
Operating profit10,492JPY millionYear on year -14.3%Progress 19.1%
Ordinary income13,646JPY millionYear on year -5.1%Progress 23.9%
Net income attributable to owners of the parent6,482JPY millionYear on year -23.6%Progress 23.2%
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¥36.82
Financial position at period-end
Total assets845,372JPY million
of which net assets 380,495 JPY millionEquity ratio 35.3%vs. prior year-end -2.1pt
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.
Segment revenueJapan 41,782 JPY million (YoY +6.4%), India 40,289 JPY million (YoY +9.0%), Europe 42,647 JPY million (YoY +12.6%), Asia 16,830 JPY million (YoY +1.3%), Africa 13,757 JPY million (YoY +19.7%), Other 2,547 JPY million (YoY +4.0%)
Segment profitJapan 2,143 JPY million (YoY -57.9%), India 4,623 JPY million (YoY +4.6%), Europe 1,435 JPY million, Asia 3,292 JPY million (YoY +31.7%), Africa 1,330 JPY million (YoY +23.0%), Other 619 JPY million (YoY +3.1%)
Regional sales41,782 JPY million (YoY +6.4%), 40,289 JPY million (YoY +9.0%), 42,647 JPY million (YoY +12.6%), 16,830 JPY million (YoY +1.3%), 13,757 JPY million (YoY +19.7%), 2,547 JPY million (YoY +4.0%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales630,000 JPY million (YoY +6.8%)
Operating profit55,000 JPY million (YoY +10.6%)
Ordinary income57,000 JPY million (YoY +4.2%)
Net income28,000 JPY million (YoY -11.5%)
Revision to Earnings ForecastNot disclosed → Net Sales 630,000 / Operating profit 55,000 / Ordinary income 57,000 / Net income 28,000
Annual Dividend Forecast110 JPY → 116 JPY（+5.5%）
Factors Behind Changes in Business Performance
Net sales increased due mainly to higher automobile production, resilient domestic demand, improved selling prices, an improved product mix and the impact of foreign exchange translation. Operating income decreased due mainly to delays in passing higher raw material costs through to selling prices and an increase in fixed costs. Ordinary income decreased mainly because of an increase in investment gains accounted for under the equity method, while net income attributable to owners of the parent decreased mainly because of a decline in gains on sales of fixed assets.
Disclosure regarding the going concern assumption
Not applicable (notes regarding 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 / Excluded 0 companies / Company name No applicable matters
Material subsequent eventsThe Company plans to acquire additional shares in Polisan Kansai Boya Sanayi ve Ticaret A.Ş. (PKB) and make it a wholly owned subsidiary around October 2026. The consideration for the additional acquisition will be US$93 million in cash, increasing the voting rights ratio from 50.0% to 100.0%.
Impairment loss4 JPY million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 48 JPY million, Gain on sale of investment securities 81 JPY million / Extraordinary loss Loss on disposal and sale of non-current assets 61 JPY million, Impairment Losses 4 JPY million, Early retirement incentive payments 8 JPY million
Depreciation and amortization6,373 JPY million
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingWhether applicable No / Subject person Not disclosed
Issued Shares at Period-End177,976,280
Treasury Shares at Period-End1,930,598
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 June 2026 |
| Net Sales | 157,853 JPY million (YoY +9.1%) |
| Operating profit | 10,492 JPY million (YoY -14.3%) |
| Ordinary income | 13,646 JPY million (YoY -5.1%) |
| Profit attributable to owners of the parent | 6,482 JPY million (YoY -23.6%) |
| Net income per share | ¥36.82 |
| Equity ratio | End of the current fiscal period 35.3 / End of previous period 37.4 |
| Total assets | 845,372 JPY million |
| Net assets | 380,495 JPY million |
| Full-year earnings forecast | Net Sales 630,000 JPY million (YoY +6.8%) / Operating profit 55,000 JPY million (YoY +10.6%) / Ordinary income 57,000 JPY million (YoY +4.2%) / Net income 28,000 JPY million (YoY -11.5%) |
| Revision to Earnings Forecast | Not disclosed → Net Sales 630,000 / Operating profit 55,000 / Ordinary income 57,000 / Net income 28,000 |
| Annual Dividend Forecast | 110 JPY → 116 JPY（+5.5%） |
| Segment revenue | Japan 41,782 JPY million (YoY +6.4%), India 40,289 JPY million (YoY +9.0%), Europe 42,647 JPY million (YoY +12.6%), Asia 16,830 JPY million (YoY +1.3%), Africa 13,757 JPY million (YoY +19.7%), Other 2,547 JPY million (YoY +4.0%) |
| Segment profit | Japan 2,143 JPY million (YoY -57.9%), India 4,623 JPY million (YoY +4.6%), Europe 1,435 JPY million, Asia 3,292 JPY million (YoY +31.7%), Africa 1,330 JPY million (YoY +23.0%), Other 619 JPY million (YoY +3.1%) |
| Regional sales | 41,782 JPY million (YoY +6.4%), 40,289 JPY million (YoY +9.0%), 42,647 JPY million (YoY +12.6%), 16,830 JPY million (YoY +1.3%), 13,757 JPY million (YoY +19.7%), 2,547 JPY million (YoY +4.0%) |
| Depreciation and amortization | 6,373 JPY million |
| Impairment loss | 4 JPY million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 48 JPY million, Gain on sale of investment securities 81 JPY million / Extraordinary loss Loss on disposal and sale of non-current assets 61 JPY million, Impairment Losses 4 JPY million, Early retirement incentive payments 8 JPY million |
| Disclosure regarding the going concern assumption | Not applicable (notes regarding 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 / Excluded 0 companies / Company name No applicable matters |
| Material subsequent events | The Company plans to acquire additional shares in Polisan Kansai Boya Sanayi ve Ticaret A.Ş. (PKB) and make it a wholly owned subsidiary around October 2026. The consideration for the additional acquisition will be US$93 million in cash, increasing the voting rights ratio from 50.0% to 100.0%. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 177,976,280 |
| Treasury Shares at Period-End | 1,930,598 |
| Factors Behind Changes in Business Performance | Net sales increased due mainly to higher automobile production, resilient domestic demand, improved selling prices, an improved product mix and the impact of foreign exchange translation. Operating income decreased due mainly to delays in passing higher raw material costs through to selling prices and an increase in fixed costs. Ordinary income decreased mainly because of an increase in investment gains accounted for under the equity method, while net income attributable to owners of the parent decreased mainly because of a decline in gains on sales of fixed assets. |
Items this document does not state (8)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioShareholder 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 decreased due mainly to delays in passing higher raw material costs through to selling prices and an increase in fixed costs. Ordinary income decreased mainly because of an increase in investment gains accounted for under the equity method, while net income attributable to owners of the parent decreased mainly because of a decline in gains on sales of fixed assets.
How to read this page
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