Komori
Earnings presentation5269NIPPON CONCRETE INDUSTRIES CO.,LTD.Construction and Materials

FY2025 Full-Year Financial Results Briefing Materials

For the fiscal year ended March 2026, revenue and profit declined due to difficulties securing large orders in the foundation business, projects being pushed into a different period, and delays in the acceptance inspection of civil engineering products. Results also fell significantly short of the initial forecasts. For the fiscal year ending March 2027, the Company expects higher revenue and profit, based on a recovery in orders and the reorganization of its production structure.

Worth reading
65In 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
3419
¥ million (decrease in revenue for the fiscal year ended March 2026)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFiscal year ending March 2026, full year13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥49,233 million-6.5%
Operating profit¥322 million-67.4%
Ordinary income¥1,283 million-11.6%
Net income¥684 million net income attributable to owners of the parent
Gross Profit Margin16.6 %
Operating profit margin0.7 %
Selling, general and administrative expenses¥7,836 million
Full-year earnings forecast
Fiscal Period CoveredFull year ending March 2027
Net Sales
¥55,000 million
Operating profit
¥1,900 million
Ordinary income
¥2,400 million
Net income
¥1,300 million net income attributable to owners of the parent
Annual Dividend
¥10
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Significantly below plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Revenue declineApproximately ¥3.4 billion decrease in revenue
  • Continued operating profit declineApproximately ¥700 million decrease in profit
  • Extraordinary income (including gains on the sale of cross-held shares)Approximately ¥770 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Orders
    DetailsBased on solid order conditions
  • Production volume
    DetailsBased on an increase in production volume
  • Sale of Investment Securities
    DetailsThe policy will continue, but these sales are not included in the forecast for the fiscal year ending March 2027 because the amount is difficult to estimate
New initiatives
  • First adoption of the environmental product “カルカーボ®” in a public works project in Shiga Prefecture
  • Release of a new interlocking segmented composite pole for Shikoku Electric Power
  • Launch of the PC components business
  • Entry into the infrastructure maintenance market
  • Improving productivity and operational efficiency through the use of IT and AI
  • Reorganization of the pole production structure and consolidation of plants
Key KPIsA metric the company considers important as a management benchmark.
  • Domestic shipment share of concrete poles38 %
  • Domestic shipment share of piles8 %
  • PBR0.4 times
    Year on year against the same period last yearRanged from 0.4x to 0.6x over the previous five fiscal years
  • ROE1.7 %
  • Equity ratio52.1 %
    Year on year against the same period last year+4.2 percentage points
  • D/E ratio0.29 times
    Year on year against the same period last year-0.08 percentage points
  • Operating cash flow¥2,511 million
Segment results
Foundation business
Net Sales
¥22,013 million-9.1%
Profit
¥-190 million
Pole-related business
Net Sales
¥14,759 million+3.4%
Civil engineering products business
Net Sales
¥12,147 million-12.3%
Concrete secondary products business
Net Sales
¥26,906 million-4.3%
Profit
¥2,220 million-5.5%
Real estate and solar power generation business
Net Sales
¥313 million+2.0%
Profit
¥185 million-2.4%
Head office expenses
Profit
¥-1,892 million
Medium-term management plan targets
Target fiscal yearFiscal year ending March 2027
Net Sales
Target value¥67,200 million
Ordinary income
Target value¥3,600 million
Dividend per share
Target value¥16.5
ROE
Target value5.5 %
Difference from actual results and forecastsThe forecast for the fiscal year ending March 2027 is revenue of ¥55,000 million, ordinary profit of ¥2,400 million, a dividend of ¥10, and ROE of 2.8%, and is expected to fall below the targets in the medium-term management plan
Financial targets
Equity ratio
Actual results52.1 %
Debt-to-equity ratio
Actual results0.29 times
ROE
Actual results1.7 %
Medium-term plan target5.5 %
Market Size / Share
  • Domestic shipment share of concrete poles38 %
  • Domestic shipment share of piles8 %
  • National pile demand in FY2025199 10,000 tonnes
  • National pile shipments in FY20251,991,829 ton
Number of employees
Number of Employees1,351 people
As ofAs of the end of March 2026 (consolidated)
Annual Dividend
Annual¥10forecast for the fiscal year ending March 2027
Payout ratio
40% or more
Acquisition of treasury shares
DetailsThe Company has conducted flexible share repurchases to date. It will continue to conduct repurchases flexibly, taking into account the business environment and other factors
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFiscal year ending March 2026, full year
Net Sales¥49,233 million (YoY -6.5%)
Operating profit¥322 million (YoY -67.4%)
Ordinary income¥1,283 million (YoY -11.6%)
Net income¥684 million (net income attributable to owners of the parent)
Gross Profit Margin16.6 %
Operating profit margin0.7 %
Selling, general and administrative expenses¥7,836 million
Full-year earnings forecastFiscal Period Covered Full year ending March 2027 / Net Sales ¥55,000 million / Operating profit ¥1,900 million / Ordinary income ¥2,400 million / Net income ¥1,300 million (net income attributable to owners of the parent) / Annual Dividend ¥10
Self-assessment against the planSignificantly below plan
Segment resultsFoundation business Net Sales ¥22,013 million (YoY -9.1%) / Profit ¥-190 million / Pole-related business Net Sales ¥14,759 million (YoY +3.4%) / Civil engineering products business Net Sales ¥12,147 million (YoY -12.3%) / Concrete secondary products business Net Sales ¥26,906 million (YoY -4.3%) / Profit ¥2,220 million (YoY -5.5%) / Real estate and solar power generation business Net Sales ¥313 million (YoY +2.0%) / Profit ¥185 million (YoY -2.4%) / Head office expenses Profit ¥-1,892 million
Breakdown of Factors Affecting the ChangeFactors Revenue decline / Amount Approximately ¥3.4 billion decrease in revenue, Factors Continued operating profit decline / Amount Approximately ¥700 million decrease in profit, Factors Extraordinary income (including gains on the sale of cross-held shares) / Amount Approximately ¥770 million
Key KPIsIndicator name Domestic shipment share of concrete poles / Value 38 % / Year on year against the same period last year Not disclosed, Indicator name Domestic shipment share of piles / Value 8 % / Year on year against the same period last year Not disclosed, Indicator name PBR / Value 0.4 times / Year on year against the same period last year Ranged from 0.4x to 0.6x over the previous five fiscal years, Indicator name ROE / Value 1.7 % / Year on year against the same period last year Not disclosed, Indicator name Equity ratio / Value 52.1 % / Year on year against the same period last year +4.2 percentage points, Indicator name D/E ratio / Value 0.29 times / Year on year against the same period last year -0.08 percentage points, Indicator name Operating cash flow / Value ¥2,511 million / Year on year against the same period last year Not disclosed
Number of employeesNumber of Employees 1,351 people / As of As of the end of March 2026 (consolidated)
Assumptions Underlying the Business OutlookItem Orders / Details Based on solid order conditions, Item Production volume / Details Based on an increase in production volume, Item Sale of Investment Securities / Details The policy will continue, but these sales are not included in the forecast for the fiscal year ending March 2027 because the amount is difficult to estimate
Medium-term management plan targetsTarget fiscal year Fiscal year ending March 2027 / Net Sales Target value ¥67,200 million / Ordinary income Target value ¥3,600 million / Dividend per share Target value ¥16.5 / ROE Target value 5.5 % / Difference from actual results and forecasts The forecast for the fiscal year ending March 2027 is revenue of ¥55,000 million, ordinary profit of ¥2,400 million, a dividend of ¥10, and ROE of 2.8%, and is expected to fall below the targets in the medium-term management plan
Financial targetsEquity ratio Actual results 52.1 % / Debt-to-equity ratio Actual results 0.29 times / ROE Actual results 1.7 % / Medium-term plan target 5.5 %
Annual DividendAnnual ¥10 (forecast for the fiscal year ending March 2027) / Interim Not disclosed / End of period Not disclosed
Payout ratio40% or more
Acquisition of treasury sharesDetails The Company has conducted flexible share repurchases to date. It will continue to conduct repurchases flexibly, taking into account the business environment and other factors / Buyback limit Not disclosed / Period Not disclosed
Market Size / ShareDomestic shipment share of concrete poles 38 %, Domestic shipment share of piles 8 %, National pile demand in FY2025 199 10,000 tonnes, National pile shipments in FY2025 1,991,829 ton
New initiativesFirst adoption of the environmental product “カルカーボ®” in a public works project in Shiga Prefecture, Release of a new interlocking segmented composite pole for Shikoku Electric Power, Launch of the PC components business, Entry into the infrastructure maintenance market, Improving productivity and operational efficiency through the use of IT and AI, Reorganization of the pole production structure and consolidation of plants
Items this document does not state (8)
Results for the three months of the current quarterProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookCapital expendituresOrders 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 reasons given for the declines in revenue and profit include difficulties securing large orders and projects being pushed into a different period in the foundation business, delays in the acceptance inspection of a Linear Chuo Shinkansen project in the civil engineering products business, and deteriorating earnings at production subsidiaries due to lower production volumes. The forecast for higher revenue and profit in the next fiscal year assumes solid orders, projects shifted from the previous fiscal year, higher production volumes, and the effects of reorganizing the production structure.

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FY2025 Full-Year Financial Results Briefing Materials | NIPPON CONCRETE INDUSTRIES CO.,LTD. (5269) timely disclosure | Komori