Worth reading
59In 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
19
¥ millions (year-on-year change in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter (interim period) of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥7,466 million-4.7%
Operating profit¥672 million+3.0%
Ordinary income¥724 million+0.4%
Net income¥540 million -7.5%interim net income attributable to owners of the parent
Operating profit margin9 %
Full-year earnings forecast
Net Sales
¥16,500 million
Operating profit
¥1,900 million
Ordinary income
¥2,000 million
Profit attributable to owners of the parent
¥1,400 million
Dividend per share
¥52
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 Sales45.3%
Operating profit35.4%
Ordinary income36.2%
Profit attributable to owners of the parent38.6%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Price pass-through and productivity improvements¥102 million
- Rise in raw material and fuel prices¥-44 million
- Decrease in profit from the building materials and paving materials business¥-16 million
- Increase in selling, general and administrative expenses¥-72 million
- Decrease in product warranty provisions¥49 million
New initiatives
- Investment of management resources in the ceramics and plant operations businesses
- Development of new markets, new products and new businesses
- Off-auction purchase of treasury shares for allocation to restricted stock compensation and other purposes
Key KPIsA metric the company considers important as a management benchmark.
- Equity ratio71.5 %
- D/E ratio0.1 Times
- First-half net income per share¥53.36Year on year against the same period last year-3.6%
Segment results
Refractory ceramics
Net Sales
¥3,682 million+3.6%
Segment profit
¥222 million+51.6%
Plant
Net Sales
¥2,605 million-14.9%
Segment profit
¥317 million-1.5%
Building materials and paving materials
Net Sales
¥959 million+0.1%
Segment profit
¥28 million-46.6%
Real Estate Leasing
Net Sales
¥200 million+1.1%
Segment profit
¥92 million-7.1%
Other
Net Sales
¥19 million-67.9%
Segment profit
¥4 million-74.5%
Adjustments
Segment profit
¥7 million
Medium-term management plan targets
Payout ratio
40 %
Target fiscal yearFiscal year ending March 2028 (plan)
Capital expenditures
¥296 millions purchases of property, plant and equipment
Annual Dividend
¥52
Interim and Year-End BreakdownInterim ¥26.0, year-end ¥26.0 (forecast)
Payout ratio
40 % approximately target for the final year of the current medium-term management plan
Acquisition of treasury shares
¥658 million
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter (interim period) of the fiscal year ending March 2027 |
| Net Sales | ¥7,466 million (YoY -4.7%) |
| Operating profit | ¥672 million (YoY +3.0%) |
| Ordinary income | ¥724 million (YoY +0.4%) |
| Net income | ¥540 million (interim net income attributable to owners of the parent) (YoY -7.5%) |
| Operating profit margin | 9 % |
| Full-year earnings forecast | Net Sales ¥16,500 million / Operating profit ¥1,900 million / Ordinary income ¥2,000 million / Profit attributable to owners of the parent ¥1,400 million / Dividend per share ¥52 |
| Progress against full-year forecast | Net Sales 45.3% / Operating profit 35.4% / Ordinary income 36.2% / Profit attributable to owners of the parent 38.6% |
| Segment results | Refractory ceramics Net Sales ¥3,682 million (YoY +3.6%) / Segment profit ¥222 million (YoY +51.6%) / Plant Net Sales ¥2,605 million (YoY -14.9%) / Segment profit ¥317 million (YoY -1.5%) / Building materials and paving materials Net Sales ¥959 million (YoY +0.1%) / Segment profit ¥28 million (YoY -46.6%) / Real Estate Leasing Net Sales ¥200 million (YoY +1.1%) / Segment profit ¥92 million (YoY -7.1%) / Other Net Sales ¥19 million (YoY -67.9%) / Segment profit ¥4 million (YoY -74.5%) / Adjustments Segment profit ¥7 million |
| Breakdown of Factors Affecting the Change | Factors Price pass-through and productivity improvements / Amount ¥102 million, Factors Rise in raw material and fuel prices / Amount ¥-44 million, Factors Decrease in profit from the building materials and paving materials business / Amount ¥-16 million, Factors Increase in selling, general and administrative expenses / Amount ¥-72 million, Factors Decrease in product warranty provisions / Amount ¥49 million |
| Key KPIs | Indicator name Equity ratio / Value 71.5 % / Year on year against the same period last year Not disclosed, Indicator name D/E ratio / Value 0.1 Times / Year on year against the same period last year Not disclosed, Indicator name First-half net income per share / Value ¥53.36 / Year on year against the same period last year ¥-3.63 |
| Medium-term management plan targets | Payout ratio 40 % |
| Annual Dividend | ¥52 |
| Payout ratio | 40 % approximately (target for the final year of the current medium-term management plan) |
| Acquisition of treasury shares | Amount ¥658 million / Period Not disclosed |
| Capital expenditures | ¥296 millions (purchases of property, plant and equipment) |
| New initiatives | Investment of management resources in the ceramics and plant operations businesses, Development of new markets, new products and new businesses, Off-auction purchase of treasury shares for allocation to restricted stock compensation and other purposes |
Items this document does not state (13)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsOrders received and order backlogMarket Size / ShareKey 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.Revenue decreased due to a decline in completed large projects in the plant operations business. Operating profit increased due to productivity improvements and price pass-through in the refractory ceramics business and a decrease in product warranty provisions, while higher raw material and fuel prices and increased selling, general and administrative expenses were negative factors. Net profit decreased due to the reversal of gains from the sale of policy-held shares in the previous fiscal year.
How to read this page
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