Worth reading
61In focus
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
55.8
% (year-on-year decline in net income attributable to owners of the parent)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales898,441¥ millionYear on year +0.2%Progress 87.5%
Operating profit74,620¥ millionYear on year -4.0%Progress 98.2%
Ordinary income75,087¥ millionYear on year -0.4%Progress 107.3%
Net income attributable to owners of the parent25,401¥ millionYear on year -55.8%Progress 52.9%
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¥227.86
Operating MarginCurrent fiscal year 8.3 % / Previous period 8.7 %
Financial position at period-end
Total assets1,479,061¥ million
of which net assets 712,237 ¥ millionEquity ratio 46.0%vs. prior year-end +0.9pt
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+114,205
Investment-98,645
Financials-26,761
Net change-11,201
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¥53,926 million
Segment revenue
Cement667,91069.2%
Resource90,8559.4%
Environmental Business81,7828.5%
Construction materials and civil engineering43,4274.5%
Other80,5198.3%
Segment profit
Cement49,33266.0%
Resource10,04513.4%
Environmental Business9,26212.4%
Construction materials and civil engineering1,8912.5%
Other4,1935.6%
Regional salesJapan Current fiscal year ¥543,667 million / Previous period ¥531,966 million / United States Current fiscal year ¥279,261 million / Previous period ¥290,675 million / Other Current fiscal year ¥75,514 million / Previous period ¥73,654 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥1,027,000 million (YoY +14.3%)
Operating profit¥76,000 million (YoY +1.8%)
Ordinary income¥70,000 million (YoY -6.8%)
Net income¥48,000 million (YoY +89.0%)
Annual Dividend Forecast¥80 → ¥120（+50.0%）
Payout ratioCurrent fiscal year 43.9 % / Next-year forecast 27.9 %
Factors Behind Changes in Business Performance
Domestic cement sales volume declined 9.4% year on year, while export volume increased 9.8%. In the Resources business, sales volumes of aggregates and mineral products declined, but sales volume in the soil solutions business increased, and the pass-through of higher costs into selling prices progressed. In the Environmental business, transshipment operations for soil generated by linear infrastructure construction and coal ash treatment remained firm. In the Building Materials and Civil Engineering business, sluggish sales and higher costs, including freight and labor costs, had an impact. Net income declined mainly due to the recognition of impairment losses at the Philippine subsidiary.
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 / Excluded 1 / Name of excluded company 江南小野田水泥有限公司
Material subsequent eventsAcquisition of treasury shares. At a Board of Directors meeting held on 12 May 2026, the company resolved to acquire treasury shares worth ¥10 billion, using the FCSR method. The purpose is to return capital to shareholders and improve capital efficiency.
Impairment loss¥25,328 million. Primarily impairment losses on fixed assets at Taiheiyo Cement Philippines, Inc., a Philippine subsidiary engaged in cement manufacturing and sales.
Breakdown of extraordinary income (loss)Extraordinary income Gain on changes in equity interests ¥362 million / Gain on disposal of fixed assets ¥1,223 million / Gain on sale of investment securities ¥424 million / Other ¥202 million / Total ¥2,211 million / Extraordinary loss Losses on disposal of fixed assets ¥6,113 million / Loss on sale of investment securities ¥495 million / Impairment Loss on Investment Securities ¥33 million / Impairment loss ¥25,328 million / Other ¥803 million / Total ¥32,771 million
Depreciation and amortization¥70,518 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person Securities analysts and institutional investors
Issued Shares at Period-End118,191,578
Treasury Shares at Period-End6,588,740
| 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 | ¥898,441 million (YoY +0.2%) |
| Operating profit | ¥74,620 million (YoY -4.0%) |
| Ordinary income | ¥75,087 million (YoY -0.4%) |
| Profit attributable to owners of the parent | ¥25,401 million (YoY -55.8%) |
| Net income per share | ¥227.86 |
| Operating Margin | Current fiscal year 8.3 % / Previous period 8.7 % |
| Equity ratio | End of the current fiscal period 46 % / End of previous period 45.1 % |
| Total assets | ¥1,479,061 million |
| Net assets | ¥712,237 million |
| Cash flows from operating activities | ¥114,205 million |
| Cash flows from investing activities | ¥-98,645 million |
| Cash flows from financing activities | ¥-26,761 million |
| Cash and cash equivalents at end of period | ¥53,926 million |
| Full-year earnings forecast | Net Sales ¥1,027,000 million (YoY +14.3%) / Operating profit ¥76,000 million (YoY +1.8%) / Ordinary income ¥70,000 million (YoY -6.8%) / Net income ¥48,000 million (YoY +89.0%) |
| Annual Dividend Forecast | ¥80 → ¥120（+50.0%） |
| Payout ratio | Current fiscal year 43.9 % / Next-year forecast 27.9 % |
| Segment revenue | Cement ¥667,910 million / Resource ¥90,855 million / Environmental Business ¥81,782 million / Construction materials and civil engineering ¥43,427 million / Other ¥80,519 million |
| Segment profit | Cement ¥49,332 million / Resource ¥10,045 million / Environmental Business ¥9,262 million / Construction materials and civil engineering ¥1,891 million / Other ¥4,193 million |
| Regional sales | Japan Current fiscal year ¥543,667 million / Previous period ¥531,966 million / United States Current fiscal year ¥279,261 million / Previous period ¥290,675 million / Other Current fiscal year ¥75,514 million / Previous period ¥73,654 million |
| Depreciation and amortization | ¥70,518 million |
| Impairment loss | ¥25,328 million. Primarily impairment losses on fixed assets at Taiheiyo Cement Philippines, Inc., a Philippine subsidiary engaged in cement manufacturing and sales. |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on changes in equity interests ¥362 million / Gain on disposal of fixed assets ¥1,223 million / Gain on sale of investment securities ¥424 million / Other ¥202 million / Total ¥2,211 million / Extraordinary loss Losses on disposal of fixed assets ¥6,113 million / Loss on sale of investment securities ¥495 million / Impairment Loss on Investment Securities ¥33 million / Impairment loss ¥25,328 million / Other ¥803 million / Total ¥32,771 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 / Excluded 1 / Name of excluded company 江南小野田水泥有限公司 |
| Material subsequent events | Acquisition of treasury shares. At a Board of Directors meeting held on 12 May 2026, the company resolved to acquire treasury shares worth ¥10 billion, using the FCSR method. The purpose is to return capital to shareholders and improve capital efficiency. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Securities analysts and institutional investors |
| Issued Shares at Period-End | 118,191,578 |
| Treasury Shares at Period-End | 6,588,740 |
| Factors Behind Changes in Business Performance | Domestic cement sales volume declined 9.4% year on year, while export volume increased 9.8%. In the Resources business, sales volumes of aggregates and mineral products declined, but sales volume in the soil solutions business increased, and the pass-through of higher costs into selling prices progressed. In the Environmental business, transshipment operations for soil generated by linear infrastructure construction and coal ash treatment remained firm. In the Building Materials and Civil Engineering business, sluggish sales and higher costs, including freight and labor costs, had an impact. Net income declined mainly due to the recognition of impairment losses at the Philippine subsidiary. |
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.Net income attributable to owners of the parent declined mainly due to the recognition of impairment losses at Taiheiyo Cement Philippines, Inc., a Philippine subsidiary engaged in cement manufacturing and sales. Operating income was affected by lower earnings in the Cement and Building Materials and Civil Engineering businesses.
How to read this page
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