Komori
Shinagawa Refra (5351) · InitiativeAdvancedLatest Earnings presentation materials (2026-08-10): "Worsened"

Completion of Hot-Blast Furnace Construction and Execution of Engineering Projects

First written in FY2020-Q1. 10 of 24 entries say "Advanced", first in FY2020-Q2. Latest entry: 2026-08-10.

24entries
8years
2from disclosures
Share on X
How it moved
ProgressHeldSoftenedWorseAdvancedFY2020-Q1 – FY2020-Q3OtherFY2021-Q1 – FY2021AdvancedFY2022-Q1 – FY2023-Q2OtherFY2023-Q3 – FY2024-Q2OtherFY2024 – FY2026-H12019: 220192020: 320202021: 420212022: 420222023: 320232024: 320242025: 220252026: 32026
Same theme, other companies
Eliminating Loss-Making Construction Projects by Completing Large Engineering ProjectsA theme 2 companies write about · 0 as a headwind · 2 as a tailwind

0 other companies' latest entry also says "Worsened".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. FY2026AdvancedAnnual report

    「The results of Brazil-based Reframax, which joined the Group in May 2025, contributed from the second quarter, bringing revenue for the consolidated fiscal year to ¥45,856 million, up 78.2% year on year, and segment profit to ¥2,714 million, up 68.1% year on year.」

    Reframax's results contributed to the Engineering segment from the second quarter through the full year, driving substantial increases in revenue and segment profit.
  2. FY2026-H1Revenue increased with a contribution from Reframax, but profit declined due to acquisition-related costs.Annual report

    「The results of Brazil-based Reframax Engenharia Ltda., which joined the Group in May 2025, contributed from the July-September quarter, bringing revenue for the interim consolidated accounting period to ¥18,482 million, up 57.5% year on year. However, segment profit was ¥204 million, down 70.6% year on year, due mainly to the recognition of ¥400 million in one-time costs related to the acquisition of Reframax.」

    Reframax's results contributed to the Engineering segment from the second quarter, increasing revenue. However, segment profit declined due to ¥400 million in one-time acquisition-related costs and other factors.
  3. FY2025Revenue increased but profit declined due to revisions to construction prices and other factorsAnnual report

    「In the engineering segment, revenue for the fiscal year was ¥25,730 million, up 4.8%, due to revisions to construction contract prices accompanying higher labor costs and an increase in construction projects at various locations. Segment profit was ¥1,614 million, down 6.4%, mainly due to the recognition of related expenses associated with the acquisition of Reframax Engenharia Ltda., a Brazilian engineering company, as described below, and other factors.」

    Revenue increased as higher labor costs were reflected in contract prices and construction orders increased, while segment profit declined due to costs related to the acquisition of Reframax and other factors.
  4. FY2025-H1Revenue declined due to fewer construction projects, but profit increased due to the project mixAnnual report

    「In the engineering business, despite appropriately reflecting higher labor costs in construction contract prices, revenue fell 0.6% year on year to ¥11,738 million due to a decrease in construction projects at various locations and other factors. Segment profit increased 14.4% to ¥697 million due to differences in the mix of construction projects and other factors.」

    Revenue declined due to a decrease in construction projects at various locations, while segment profit increased due to the reflection of higher labor costs in contract prices and differences in the mix of construction projects and other factors.
  5. FY2024Revenue declined due to fewer large-scale projects, but profit increased due to the project mixAnnual report

    「In the engineering business, full-year revenue was ¥24,551 million, a decrease of ¥51 million (0.2%) due to a decline in large-scale construction projects and other factors. Segment profit was ¥1,725 million, an increase of ¥61 million (3.7%) due to differences in the mix of construction projects and other factors.」

    Revenue declined slightly due to a decrease in large-scale construction projects, while segment profit increased due to differences in the mix of construction projects and other factors.
  6. FY2024-Q3AdvancedAnnual report

    「In the engineering business, revenue increased 4.7% year on year to ¥18,818 million and segment profit increased 0.8% to ¥1,199 million, mainly due to an increase in construction projects at various locations and other factors.」

    The engineering business reported increases of 4.7% in revenue and 0.8% in segment profit, mainly due to an increase in construction projects at various locations and other factors.
  7. FY2024-Q2Revenue increased due to more construction projects, but profit declined due to the project mixAnnual report

    「In the engineering business, revenue increased 4.4% year on year to ¥11,811 million due to an increase in construction projects at various locations and other factors, while segment profit fell 11.9% to ¥609 million due to differences in the mix of construction projects and other factors.」

    Revenue increased due to an increase in construction projects at various locations, while segment profit declined year on year due to differences in the mix of construction projects and other factors.
  8. FY2024-Q1Revenue and profit declined due to a decrease in large-scale construction projects at steelworksAnnual report

    「In the engineering business, revenue fell 4.9% year on year to ¥5,570 million and segment profit fell 28.8% to ¥252 million, mainly due to a decrease in large-scale construction projects at steelworks and other factors.」

    The engineering business reported lower revenue and profit in the first quarter due to a decrease in large-scale construction projects at steelworks and other factors.
  9. FY2023-Q3Revenue declined but profit increased due to the project mixAnnual report

    「In the engineering business, revenue fell 5.2% year on year to ¥17,865 million due to differences in the mix of construction projects, while segment profit increased 4.7% to ¥1,419 million.」

    Revenue declined due to differences in the mix of construction projects, while segment profit in the engineering business increased 4.7% year on year.
  10. FY2023-Q2AdvancedAnnual report

    「In the engineering business, revenue fell 1.7% year on year to ¥11,317 million due to differences in the mix of construction projects, while segment profit increased 15.6% to ¥834 million.」

    Revenue declined due to differences in the mix of construction projects, while segment profit in the engineering business increased 15.6% year on year.
  11. FY2023-Q1AdvancedAnnual report

    「In the engineering business, revenue increased 2.0% year on year to ¥5,858 million and segment profit increased 1.1% to ¥425 million, mainly due to an increase in construction projects at steelworks and other factors.」

    The engineering business reported higher revenue and profit year on year, mainly due to an increase in construction projects at steelworks and other factors.
  12. FY2022AdvancedAnnual report

    「In the engineering business, revenue for the fiscal year was ¥24,898 million, an increase of ¥3,392 million (15.8%), and segment profit was ¥1,825 million, an increase of ¥900 million (97.4%), mainly due to an increase in construction projects at steelworks and other factors.」

    The engineering business reported full-year increases of 15.8% in revenue and 97.4% in segment profit, mainly due to an increase in construction projects at steelworks and other factors.
  13. FY2022-Q3AdvancedAnnual report

    「In the engineering business, revenue increased 16.6% year on year to ¥18,853 million and segment profit increased 90.0% to ¥1,355 million, mainly due to an increase in construction projects at steelworks and other factors.」

    Revenue and segment profit in the engineering business increased year on year, mainly due to an increase in construction projects at steelworks and other factors.
  14. FY2022-Q2AdvancedAnnual report

    「In the engineering business, revenue increased 17.9% year on year to ¥11,515 million and segment profit increased 72.5% to ¥721 million, mainly due to an increase in construction projects at steelworks and other factors.」

    Revenue and segment profit in the engineering business increased year on year, mainly due to an increase in construction projects at steelworks and other factors.
  15. FY2022-Q1AdvancedAnnual report

    「In the engineering business, revenue increased 15.5% year on year to ¥5,744 million and segment profit increased 100.5% to ¥421 million, mainly due to an increase in construction projects at steelworks and other factors.」

    The engineering business reported higher revenue and profit year on year, mainly due to an increase in construction projects at steelworks and other factors. Revenue increased 15.5% and segment profit increased 100.5%.
  16. FY2021Revenue declined due to the reversal of maintenance work and large-scale construction projectsAnnual report

    「In the engineering business, revenue for the fiscal year was ¥21,505 million, a decrease of ¥5,569 million (20.6%), due to a decline in revenue from maintenance work at steelworks resulting from lower domestic crude steel production and the impact of revenue from large-scale construction projects recorded in the previous fiscal year.」

    The engineering business reported a 20.6% full-year decline in revenue due to lower revenue from on-site maintenance work resulting from reduced domestic crude steel production and the reversal of large-scale construction projects.
  17. FY2021-Q3Revenue and profit declined due to a decrease in construction projects at steelworks and other factorsAnnual report

    「In the engineering business, revenue fell 20.8% year on year to ¥16,168 million and segment profit fell 21.1% to ¥713 million, mainly due to a decrease in construction projects at steelworks and the impact of revenue from hot-blast stove construction projects recorded in the previous fiscal year.」

    The engineering business reported lower revenue and profit due to a decrease in construction projects at steelworks and the reversal of revenue from hot-blast stove construction projects recorded in the previous fiscal year and other factors.
  18. FY2021-Q2Revenue and profit declined due to a decrease in construction projects and other factorsAnnual report

    「In the engineering business, revenue fell 18.7% year on year to ¥9,765 million, mainly due to a decrease in construction projects at steelworks and the impact of revenue from hot-blast stove construction projects recorded in the previous fiscal year. Segment profit fell 8.7% to ¥418 million, mainly due to the impact of the decrease in construction projects at steelworks and other factors.」

    The engineering business reported lower revenue and profit due to a decrease in construction projects at steelworks and the reversal of revenue from hot-blast stove construction projects recorded in the previous fiscal year.
  19. FY2021-Q1Profit increased as the impact of the construction-loss provision recorded in the previous fiscal year fell awayAnnual report

    「In the engineering business, revenue fell 14.9% year on year to ¥4,974 million, mainly due to the impact of revenue from hot-blast stove construction projects recorded in the previous fiscal year and other factors. Segment profit increased 158.0% to ¥209 million, mainly due to the impact of the provision for construction losses recorded in the previous fiscal year and other factors.」

    Revenue declined due to the reversal of revenue from hot-blast stove construction projects, while segment profit increased 158.0% year on year, mainly due to the impact of the provision for construction losses recorded in the previous fiscal year and other factors.
  20. FY2020-Q3AdvancedAnnual report

    「In the engineering business, revenue increased 9.3% year on year to ¥20,410 million and segment profit increased 30.0% to ¥903 million, mainly due to an increase in coke-oven repair projects at steelworks during the third quarter and other factors.」

    Revenue and segment profit in the engineering business increased year on year, mainly due to an increase in coke-oven repair projects at steelworks and other factors.
  21. FY2020-Q2AdvancedAnnual report

    「In the engineering business, revenue fell 6.6% year on year to ¥12,010 million, mainly due to the decline in coke-oven renewal projects recorded in the previous fiscal year and other factors. Segment profit increased 25.4% to ¥458 million, mainly due to an increase in on-site construction projects and other factors.」

    The Company explained that segment profit in the engineering business increased 25.4% year on year, mainly due to an increase in on-site construction projects and other factors.
  22. FY2020-Q1AchievedAnnual report

    「In the engineering business, revenue increased 12.8% year on year to ¥5,844 million, mainly due to the completion of hot-blast stove construction projects and other factors. However, segment profit fell 30.5% to ¥81 million because a provision for construction losses was recorded for some projects scheduled for completion in the following fiscal year.」

    This filing stated for the first time in specific terms that revenue in the engineering business increased as a result of completing hot-blast stove construction projects.
Moved together

"Strengthening Technological and Sales Capabilities, Developing New Products, and Accelerating Overseas Business Expansion" moved the same way as this thread, in the same document, in 8 of its 24 moves.

854444★123456
  1. ★This thread
  2. 1Strengthening Technological and Sales Capabilities, Developing New Products, and Accelerating Overseas Business Expansion8×
  3. 2Modernization of Core Production Facilities and Strengthening of Stable Supply, Quality and Competitiveness5×
  4. 3Passing on Surging Prices of Chinese-Sourced Raw Materials to Selling Prices4×
  5. 4Enhancing Corporate Value and Sharing Value with Shareholders through the Introduction of a Restricted Stock Compensation System for Directors4×
  6. 5Fair Value Fluctuations and Impairment Risks for Securities and Fixed Assets4×
  7. 6Response to New Accounting Standards, Including Revenue Recognition and Fair Value Measurement4×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Shinagawa Refra yet. It last moved in the Earnings presentation materials of 2026-08-10: "Worsened".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Completion of Hot-Blast Furnace Construction and Execution of Engineering Projects | SHINAGAWA REFRA CO.,LTD. (5351) | Komori