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Financial results presentationFiscal year ending March 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥40,238 million-0.9%
Operating profit¥4,838 million+4.7%
Ordinary income¥5,104 million+5.1%
Net income¥3,987 million+6.7%
Operating profit margin12 %
Full-year earnings forecast
Net Sales
¥40,800 million
Operating profit
¥5,400 million
Ordinary income
¥5,500 million
Net income for the current fiscal year
¥3,800 million
Earnings per share
¥201.93
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales98.8 %
Operating profit96.7 %
Ordinary income98.1 %
Net income for the current fiscal year104.9 %
Earnings per share107.7 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Net sales and operating income over the 3 years of the Seventh Medium-Term Management Plan will fall short of planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Industrial materialsForeign exchange impact, changes in net sales and other factors, material costs, energy costs, and pricing pass-through effects
Coated fabric productsForeign exchange impact, changes in net sales and other factors, material costs, energy costs, and pricing pass-through effects
Sporting goodsForeign exchange impact, changes in net sales and other factors, material costs, energy costs, and pricing pass-through effects
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
USD
¥145
RMB
¥20
New initiatives
- Consolidation of industrial materials production sites, process integration, and investment in automation and labor-saving initiatives
- Expansion of the Advanced Technology Strategy Office’s functions and establishment of a New Business Development Division
- Clarification of the CTO and CMO functions as organizational roles
- Expansion in growth fields such as liquid detection sensors, medical single-use products, and thermal expansion rubber
- Expanding sales of golf shafts in the U.S. and European markets, investing in automated equipment, and strengthening the company’s e-commerce business
- Acquisition and retirement of treasury shares
Key KPIsA metric the company considers important as a management benchmark.
- ROE10.3 %Year on year against the same period last yearDown from 11.3% in the prior year
- PBR1.23 times
- PER12 timesYear on year against the same period last yearImproved
- Equity ratio76.2 %Year on year against the same period last yearUp from 72.0% in the prior year
- Overseas revenue ratio43.2 %Year on year against the same period last yearDown from 46.6% in the prior year
Segment results
Industrial materials
Net Sales
¥23,178 million-0.9%
Operating profit
¥728 million+264.0%
Coated fabric products
Net Sales
¥3,893 million+13.9%
Operating profit
¥165 million
Sporting goods
Net Sales
¥12,822 million-4.7%
Operating profit
¥4,705 million-11.1%
Other
Net Sales
¥345 million-0.1%
Operating profit
¥23 million-37.2%
Medium-term management plan targets
Seventh Medium-Term Management Plan
Fiscal year ending March 2026
Net Sales40,700
Operating profit5,000
Operating profit margin12.3%
Fiscal year ending March 2027
Net Sales43,000
Operating profit5,800
Operating profit margin13.5%
Fiscal year ending March 2028
Net Sales45,100
Operating profit6,600
Operating profit margin14.6%
3-year total
Net Sales128,800
Operating profit17,400
Operating profit margin13.5%
New business sales in 2030¥3 billion or more
New business sales in 2040At least ¥10 billion
Financial targets
ROE10.0% or more in the fiscal year ending March 2028
PBRAt least 1.0x
PER10.0 times or more
Equity ratio60.0% or more
Actual results
ROE10.3%
PBR1.23 times
PER12.0 times
Equity ratio76.2%
Market Size / Share
Golf MarketUp 4.6% from 2019
Breakdown of major marketsThe U.S., Japan, and South Korea account for 77%
Market shareExpanding market share in the U.S. and Japanese aftermarket and custom segments
Capital expenditures
Approximately 100–120strategic and maintenance investment, over 3 years
Annual Dividend
¥86 per share
Breakdown
Interim Dividend43
Year-end dividend43
Acquisition of treasury shares
Maximum number of shares to be acquired1,300
Share unitthousand shares
Maximum purchase price20
Amount unit¥100 million
PeriodJanuary 2026 to the end of July
Actual results from January to the end of March 2026
Number of shares acquired349.6
Share unitthousand shares
Acquisition price8.3
Amount unit¥100 million
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥40,238 million (YoY -0.9%) |
| Operating profit | ¥4,838 million (YoY +4.7%) |
| Ordinary income | ¥5,104 million (YoY +5.1%) |
| Net income | ¥3,987 million (YoY +6.7%) |
| Operating profit margin | 12 % |
| Full-year earnings forecast | Net Sales ¥40,800 million / Operating profit ¥5,400 million / Ordinary income ¥5,500 million / Net income for the current fiscal year ¥3,800 million / Earnings per share ¥201.93 |
| Progress against full-year forecast | Net Sales 98.8 % / Operating profit 96.7 % / Ordinary income 98.1 % / Net income for the current fiscal year 104.9 % / Earnings per share 107.7 % |
| Self-assessment against the plan | Net sales and operating income over the 3 years of the Seventh Medium-Term Management Plan will fall short of plan |
| Segment results | Industrial materials Net Sales ¥23,178 million (YoY -0.9%) / Operating profit ¥728 million (YoY +264.0%) / Coated fabric products Net Sales ¥3,893 million (YoY +13.9%) / Operating profit ¥165 million / Sporting goods Net Sales ¥12,822 million (YoY -4.7%) / Operating profit ¥4,705 million (YoY -11.1%) / Other Net Sales ¥345 million (YoY -0.1%) / Operating profit ¥23 million (YoY -37.2%) |
| Breakdown of Factors Affecting the Change | Industrial materials Foreign exchange impact, changes in net sales and other factors, material costs, energy costs, and pricing pass-through effects / Coated fabric products Foreign exchange impact, changes in net sales and other factors, material costs, energy costs, and pricing pass-through effects / Sporting goods Foreign exchange impact, changes in net sales and other factors, material costs, energy costs, and pricing pass-through effects |
| Key KPIs | Indicator name ROE / Value 10.3 % / Year on year against the same period last year Down from 11.3% in the prior year, Indicator name PBR / Value 1.23 times / Year on year against the same period last year Not disclosed, Indicator name PER / Value 12 times / Year on year against the same period last year Improved, Indicator name Equity ratio / Value 76.2 % / Year on year against the same period last year Up from 72.0% in the prior year, Indicator name Overseas revenue ratio / Value 43.2 % / Year on year against the same period last year Down from 46.6% in the prior year |
| Assumptions Underlying the Business Outlook | USD ¥145 / RMB ¥20 |
| Medium-term management plan targets | Seventh Medium-Term Management Plan Fiscal year ending March 2026 Net Sales 40,700 / Operating profit 5,000 / Operating profit margin 12.3% / Fiscal year ending March 2027 Net Sales 43,000 / Operating profit 5,800 / Operating profit margin 13.5% / Fiscal year ending March 2028 Net Sales 45,100 / Operating profit 6,600 / Operating profit margin 14.6% / 3-year total Net Sales 128,800 / Operating profit 17,400 / Operating profit margin 13.5% / New business sales in 2030 ¥3 billion or more / New business sales in 2040 At least ¥10 billion |
| Financial targets | ROE 10.0% or more in the fiscal year ending March 2028 / PBR At least 1.0x / PER 10.0 times or more / Equity ratio 60.0% or more / Actual results ROE 10.3% / PBR 1.23 times / PER 12.0 times / Equity ratio 76.2% |
| Annual Dividend | ¥86 per share |
| Acquisition of treasury shares | Maximum number of shares to be acquired 1,300 / Share unit thousand shares / Maximum purchase price 20 / Amount unit ¥100 million / Period January 2026 to the end of July / Actual results from January to the end of March 2026 Number of shares acquired 349.6 / Share unit thousand shares / Acquisition price 8.3 / Amount unit ¥100 million |
| Capital expenditures | Approximately 100–120 |
| Market Size / Share | Golf Market Up 4.6% from 2019 / Breakdown of major markets The U.S., Japan, and South Korea account for 77% / Market share Expanding market share in the U.S. and Japanese aftermarket and custom segments |
| New initiatives | Consolidation of industrial materials production sites, process integration, and investment in automation and labor-saving initiatives, Expansion of the Advanced Technology Strategy Office’s functions and establishment of a New Business Development Division, Clarification of the CTO and CMO functions as organizational roles, Expansion in growth fields such as liquid detection sensors, medical single-use products, and thermal expansion rubber, Expanding sales of golf shafts in the U.S. and European markets, investing in automated equipment, and strengthening the company’s e-commerce business, Acquisition and retirement of treasury shares |
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioOrders received and order backlogKey points of the Q&A
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.The recovery in orders for automotive-related parts and housing equipment-related parts in Japan, increased orders for industrial materials and coated fabric products, and appropriate pricing contributed to higher earnings. On the other hand, weak capital investment in semiconductor and LCD manufacturing equipment, sluggish demand for golf shafts in the Asian and U.S. markets, and reduced consumption due to rising prices contributed to lower net sales and earnings.
How to read this page
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