Worth reading
56In 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
55.7
% (year-on-year decline in operating income)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedIFRSNet Sales10,063,216¥ millionYear on year +15.7%Progress 91.5%
Operating profit242,903¥ millionYear on year -55.7%
Ordinary income172,814¥ millionYear on year -67.0%
Net income attributable to owners of the parent17,158¥ millionYear on year -95.1%Progress 7.8%
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¥3.28
Operating MarginCurrent fiscal year 2.4 % / Previous period 6.3 %
Financial position at period-end
Total assets14,660,583¥ million
of which net assets 6,024,560 ¥ millionEquity ratio 37.7%vs. prior year-end -11.5pt
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+716,939
Investment-2,837,181
Financials+1,886,301
Net change-233,941
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¥461,262 million
Segment revenueSegment Steelmaking / Current fiscal year 92,217 Hundreds of millions of yen / Previous period 78,743 Hundreds of millions of yen / yoy_pct 17.1 Hundreds of millions of yen, Segment Engineering / Current fiscal year 3,944 Hundreds of millions of yen / Previous period 4,004 Hundreds of millions of yen / yoy_pct -1.5 Hundreds of millions of yen, Segment Chemicals & Materials / Current fiscal year 2,579 Hundreds of millions of yen / Previous period 2,691 Hundreds of millions of yen / yoy_pct -4.2 Hundreds of millions of yen, Segment System Solutions / Current fiscal year 3,828 Hundreds of millions of yen / Previous period 3,393 Hundreds of millions of yen / yoy_pct 12.8 Hundreds of millions of yen
Segment profitSegment Steelmaking / Current fiscal year 4,399 Hundreds of millions of yen / Previous period 6,210 Hundreds of millions of yen / yoy_pct -29.1 Hundreds of millions of yen, Segment Engineering / Current fiscal year 231 Hundreds of millions of yen / Previous period 146 Hundreds of millions of yen / yoy_pct 58.2 Hundreds of millions of yen, Segment Chemicals & Materials / Current fiscal year 219 Hundreds of millions of yen / Previous period 189 Hundreds of millions of yen / yoy_pct 15.9 Hundreds of millions of yen, Segment System Solutions / Current fiscal year 433 Hundreds of millions of yen / Previous period 388 Hundreds of millions of yen / yoy_pct 11.6 Hundreds of millions of yen
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥11,000,000 million (YoY +9.3%)
Operating profitNot disclosed
Ordinary incomeNot disclosed
Net income¥220,000 million
Business profit¥530,000 million (YoY +3.1%)
Annual Dividend Forecast¥24 per share (after taking the stock split into account) → ¥24 per share (after taking the stock split into account)（0.0%）
Payout ratio731
Shareholder Return PolicyThe policy is to target an annual consolidated dividend payout ratio of approximately 30% and set the annual dividend floor at ¥24 per share for the fiscal years ending March 2027 through March 2031.
Factors Behind Changes in Business Performance
Weak underlying demand in the manufacturing and construction sectors, depressed international market conditions due to China's excess production and low-priced steel exports, and increased export pressure resulting from trade measures. In the steelmaking business, the company implemented measures to restructure its production equipment and reduce fixed costs, but recorded restructuring losses of ¥271,225 million and finance costs of ¥101,222 million.
Disclosure regarding the going concern assumption
No applicable matters
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 Number of companies 109 / Company name 87 companies, including United States Steel Corporation / Excluded Number of companies 35 / Company name Not disclosed
Material subsequent eventsNo applicable matters
Breakdown of extraordinary income (loss)Business restructuring loss ¥271,225 million
Depreciation and amortization¥573,916 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person Securities analysts
Issued Shares at Period-End5,373,633,760
Treasury Shares at Period-End147,339,771
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥10,063,216 million (YoY +15.7%) |
| Operating profit | ¥242,903 million (YoY -55.7%) |
| Ordinary income | ¥172,814 million (YoY -67.0%) |
| Profit attributable to owners of the parent | ¥17,158 million (YoY -95.1%) |
| Net income per share | ¥3.28 |
| Operating Margin | Current fiscal year 2.4 % / Previous period 6.3 % |
| Equity ratio | End of the current fiscal period 37.7 % / End of previous period 49.2 % |
| Total assets | ¥14,660,583 million |
| Net assets | ¥6,024,560 million |
| Cash flows from operating activities | ¥716,939 million |
| Cash flows from investing activities | ¥-2,837,181 million |
| Cash flows from financing activities | ¥1,886,301 million |
| Cash and cash equivalents at end of period | ¥461,262 million |
| Full-year earnings forecast | Net Sales ¥11,000,000 million (YoY +9.3%) / Operating profit Not disclosed / Ordinary income Not disclosed / Net income ¥220,000 million / Business profit ¥530,000 million (YoY +3.1%) |
| Annual Dividend Forecast | ¥24 per share (after taking the stock split into account) → ¥24 per share (after taking the stock split into account)（0.0%） |
| Payout ratio | 731 |
| Shareholder Return Policy | The policy is to target an annual consolidated dividend payout ratio of approximately 30% and set the annual dividend floor at ¥24 per share for the fiscal years ending March 2027 through March 2031. |
| Segment revenue | Segment Steelmaking / Current fiscal year 92,217 Hundreds of millions of yen / Previous period 78,743 Hundreds of millions of yen / yoy_pct 17.1 Hundreds of millions of yen, Segment Engineering / Current fiscal year 3,944 Hundreds of millions of yen / Previous period 4,004 Hundreds of millions of yen / yoy_pct -1.5 Hundreds of millions of yen, Segment Chemicals & Materials / Current fiscal year 2,579 Hundreds of millions of yen / Previous period 2,691 Hundreds of millions of yen / yoy_pct -4.2 Hundreds of millions of yen, Segment System Solutions / Current fiscal year 3,828 Hundreds of millions of yen / Previous period 3,393 Hundreds of millions of yen / yoy_pct 12.8 Hundreds of millions of yen |
| Segment profit | Segment Steelmaking / Current fiscal year 4,399 Hundreds of millions of yen / Previous period 6,210 Hundreds of millions of yen / yoy_pct -29.1 Hundreds of millions of yen, Segment Engineering / Current fiscal year 231 Hundreds of millions of yen / Previous period 146 Hundreds of millions of yen / yoy_pct 58.2 Hundreds of millions of yen, Segment Chemicals & Materials / Current fiscal year 219 Hundreds of millions of yen / Previous period 189 Hundreds of millions of yen / yoy_pct 15.9 Hundreds of millions of yen, Segment System Solutions / Current fiscal year 433 Hundreds of millions of yen / Previous period 388 Hundreds of millions of yen / yoy_pct 11.6 Hundreds of millions of yen |
| Depreciation and amortization | ¥573,916 million |
| Breakdown of extraordinary income (loss) | Business restructuring loss ¥271,225 million |
| Disclosure regarding the going concern assumption | No applicable matters |
| 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 Number of companies 109 / Company name 87 companies, including United States Steel Corporation / Excluded Number of companies 35 / Company name Not disclosed |
| Material subsequent events | No applicable matters |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Securities analysts |
| Issued Shares at Period-End | 5,373,633,760 |
| Treasury Shares at Period-End | 147,339,771 |
| Factors Behind Changes in Business Performance | Weak underlying demand in the manufacturing and construction sectors, depressed international market conditions due to China's excess production and low-priced steel exports, and increased export pressure resulting from trade measures. In the steelmaking business, the company implemented measures to restructure its production equipment and reduce fixed costs, but recorded restructuring losses of ¥271,225 million and finance costs of ¥101,222 million. |
Items this document does not state (4)
Revision to Earnings ForecastRegional salesOrders received and order backlogImpairment loss
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 deterioration in the operating environment for the steel business was attributed to weak underlying demand in the manufacturing and construction sectors, depressed international market conditions due to China's excess production and low-priced steel exports, and increased export pressure resulting from trade measures. In addition, restructuring losses increased to ¥271,225 million, and finance costs also increased.
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