Worth reading
67In focus
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
236304
Millions of yen (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedIFRSNet Sales660,811¥ millionYear on year +55.7%Progress 46.5%
Operating profit39,482¥ millionYear on year +66.6%Progress 43.5%
Ordinary income97,138¥ millionYear on year +177.5%Progress 83.3%
Net income attributable to owners of the parent65,901¥ millionYear on year +168.4%Progress 80.2%
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¥256.02
Financial position at period-end
Total assets2,032,654¥ million
of which net assets 673,767 ¥ millionEquity ratio 31.8%vs. prior year-end +1.6pt
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+1,407
Investment-97,628
Financials-34,009
Net change-130,230
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¥229,591 million
Segment revenueBuilding Construction Business ¥277,849 million (YoY +54.5%), Civil Engineering Business ¥173,497 million (YoY +122.1%), Paving Business ¥139,189 million (YoY +11.2%), Machinery Business ¥19,892 million (YoY +14.0%), Infrastructure Operations Business ¥48,961 million (YoY +115.9%)
Segment profitBuilding Construction Business ¥15,884 million (YoY +108.6%), Civil Engineering Business ¥16,293 million (YoY +100.9%), Paving Business ¥9,721 million (YoY +18.7%), Machinery Business ¥708 million (YoY -20.2%), Infrastructure Operations Business ¥-2,380 million
Regional salesBusiness Construction business (consolidated figures for each operating company) / Domestic public sector ¥31,227 million / Domestic private sector ¥211,794 million / Overseas ¥33,547 million / Total ¥276,569 million, Business Civil engineering business (consolidated figures for each operating company) / Domestic public sector ¥98,130 million / Domestic private sector ¥55,593 million / Overseas ¥18,499 million / Total ¥172,222 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥1,422,000 million (YoY +26.4%)
Operating profit¥90,800 million (YoY +19.8%)
Ordinary income¥116,600 million (YoY +8.7%)
Net income¥82,200 million (YoY +7.3%)
Revision to Earnings ForecastNet Sales Not disclosed → ¥1,422,000 million / Operating profit Not disclosed → ¥90,800 million / Pretax profit Not disclosed → ¥116,600 million / Profit for the year attributable to owners of the parent Not disclosed → ¥82,200 million
Annual Dividend Forecast¥120 → ¥132（+10.0%）
Factors Behind Changes in Business Performance
Making 水ing(株) a wholly owned subsidiary and newly consolidating it, strengthening infrastructure operations businesses such as the water and wastewater business, strengthening the contracting business and expanding non-contracting businesses, and promoting DX and technological development.
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 Not disclosed
Changes in the scope of consolidationNew 5 companies (水ing(株) and 4 other consolidated subsidiaries) / Excluded Not disclosed
Material subsequent eventsPublic offering of new shares, secondary offering of shares, and issuance of new shares through a third-party allotment. Payment for the public offering was completed on 27 October 2026, and the total estimated maximum net proceeds of ¥114,136 million are planned to be used to repay short-term borrowings.
Impairment loss¥0 million
Depreciation and amortization¥26,112 million
Orders received and order backlogOrders received Total construction business ¥314,871 million, Total civil engineering business ¥166,996 million, Total paving business ¥157,752 million / Carried-forward construction work Total construction business ¥916,935 million, Total civil engineering business ¥700,478 million, Total paving business ¥115,410 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End274,845,024
Treasury Shares at Period-End20,931,611
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 September 2026 |
| Net Sales | ¥660,811 million (YoY +55.7%) |
| Operating profit | ¥39,482 million (YoY +66.6%) |
| Ordinary income | ¥97,138 million (YoY +177.5%) |
| Profit attributable to owners of the parent | ¥65,901 million (YoY +168.4%) |
| Net income per share | ¥256.02 |
| Equity ratio | End of the current fiscal period 31.8 / End of previous period 30.2 |
| Total assets | ¥2,032,654 million |
| Net assets | ¥673,767 million |
| Cash flows from operating activities | ¥1,407 million |
| Cash flows from investing activities | ¥-97,628 million |
| Cash flows from financing activities | ¥-34,009 million |
| Cash and cash equivalents at end of period | ¥229,591 million |
| Full-year earnings forecast | Net Sales ¥1,422,000 million (YoY +26.4%) / Operating profit ¥90,800 million (YoY +19.8%) / Ordinary income ¥116,600 million (YoY +8.7%) / Net income ¥82,200 million (YoY +7.3%) |
| Revision to Earnings Forecast | Net Sales Not disclosed → ¥1,422,000 million / Operating profit Not disclosed → ¥90,800 million / Pretax profit Not disclosed → ¥116,600 million / Profit for the year attributable to owners of the parent Not disclosed → ¥82,200 million |
| Annual Dividend Forecast | ¥120 → ¥132（+10.0%） |
| Segment revenue | Building Construction Business ¥277,849 million (YoY +54.5%), Civil Engineering Business ¥173,497 million (YoY +122.1%), Paving Business ¥139,189 million (YoY +11.2%), Machinery Business ¥19,892 million (YoY +14.0%), Infrastructure Operations Business ¥48,961 million (YoY +115.9%) |
| Segment profit | Building Construction Business ¥15,884 million (YoY +108.6%), Civil Engineering Business ¥16,293 million (YoY +100.9%), Paving Business ¥9,721 million (YoY +18.7%), Machinery Business ¥708 million (YoY -20.2%), Infrastructure Operations Business ¥-2,380 million |
| Regional sales | Business Construction business (consolidated figures for each operating company) / Domestic public sector ¥31,227 million / Domestic private sector ¥211,794 million / Overseas ¥33,547 million / Total ¥276,569 million, Business Civil engineering business (consolidated figures for each operating company) / Domestic public sector ¥98,130 million / Domestic private sector ¥55,593 million / Overseas ¥18,499 million / Total ¥172,222 million |
| Orders received and order backlog | Orders received Total construction business ¥314,871 million, Total civil engineering business ¥166,996 million, Total paving business ¥157,752 million / Carried-forward construction work Total construction business ¥916,935 million, Total civil engineering business ¥700,478 million, Total paving business ¥115,410 million |
| Depreciation and amortization | ¥26,112 million |
| Impairment loss | ¥0 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 Not disclosed |
| Changes in the scope of consolidation | New 5 companies (水ing(株) and 4 other consolidated subsidiaries) / Excluded Not disclosed |
| Material subsequent events | Public offering of new shares, secondary offering of shares, and issuance of new shares through a third-party allotment. Payment for the public offering was completed on 27 October 2026, and the total estimated maximum net proceeds of ¥114,136 million are planned to be used to repay short-term borrowings. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 274,845,024 |
| Treasury Shares at Period-End | 20,931,611 |
| Factors Behind Changes in Business Performance | Making 水ing(株) a wholly owned subsidiary and newly consolidating it, strengthening infrastructure operations businesses such as the water and wastewater business, strengthening the contracting business and expanding non-contracting businesses, and promoting DX and technological development. |
Items this document does not state (4)
Operating MarginPayout ratioShareholder Return PolicyBreakdown of extraordinary income (loss)
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.水ing株式会社 was made a wholly owned subsidiary, and the technologies, human resources and expertise of both groups were used jointly to strengthen the water and wastewater business and infrastructure operations business. The company also strengthened its contracting business, expanded its non-contracting businesses, and promoted DX and technological development.
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.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.