Worth reading
59In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
76
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026Non-consolidated (standalone)Japanese GAAPNet Sales268,095¥ millionYear on year -18.0%Progress 85.1%
Operating profit7,230¥ millionYear on year -76.0%
Ordinary income8,632¥ millionYear on year -72.7%
Net income attributable to owners of the parent11,557¥ millionYear on year -45.5%
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¥112.56
Operating MarginCurrent fiscal year 2.7 % / Previous period 9.2 %
Financial position at period-end
Total assets291,597¥ million
of which net assets 221,132 ¥ millionEquity ratio 75.8%vs. prior year-end +4.1pt
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-3,282
Investment-10,837
Financials-8,156
Net change-22,275
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¥73,470 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥315,000 million (YoY +17.5%)
Operating profit¥-4,000 million
Ordinary income¥-2,500 million
Net income¥0 million
Annual Dividend Forecast¥50 → ¥40（-20.0%）
Payout ratio44.4
Shareholder Return PolicyAims to maintain a total payout ratio of 25%–30%
Factors Behind Changes in Business Performance
Steel exports from China remained at high levels, while delays in the construction schedules of domestic building projects were not resolved, leaving the steel market in a difficult environment. Although prices of steel scrap were below the previous year, shipment prices for products fell further, and fixed costs rose as production volume declined.
Disclosure regarding the going concern assumption
No applicable matters. The filing states, "There are 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
Material subsequent eventsAt a meeting of the Board of Directors held on 24 April 2026, the company resolved to acquire up to 1,500,000 treasury shares, for a total acquisition cost of up to ¥2.7 billion, through on-market purchases from 1 May to 30 September 2026.
Breakdown of extraordinary income (loss)Extraordinary income Item Gain on sale of non-current assets / Amount ¥4,759 million, Item Gain on disposal of fixed assets / Amount ¥13 million, Item Gain on sale of investment securities / Amount ¥2,599 million / Extraordinary loss Item Loss on sale of fixed assets / Amount ¥19 million, Item Losses on disposal of fixed assets / Amount ¥922 million, Item Environmental Measures Expense / Amount ¥464 million, Item Operating shutdown loss / Amount ¥499 million
Depreciation and amortization¥8,087 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for analysts)
Issued Shares at Period-End110,064,249 Shares
Treasury Shares at Period-End7,544,134 Shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Non-consolidated (standalone) |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥268,095 million (YoY -18.0%) |
| Operating profit | ¥7,230 million (YoY -76.0%) |
| Ordinary income | ¥8,632 million (YoY -72.7%) |
| Profit attributable to owners of the parent | ¥11,557 million (YoY -45.5%) |
| Net income per share | ¥112.56 |
| Operating Margin | Current fiscal year 2.7 % / Previous period 9.2 % |
| Equity ratio | End of the current fiscal period 75.8 / End of previous period 71.7 |
| Total assets | ¥291,597 million |
| Net assets | ¥221,132 million |
| Cash flows from operating activities | ¥-3,282 million |
| Cash flows from investing activities | ¥-10,837 million |
| Cash flows from financing activities | ¥-8,156 million |
| Cash and cash equivalents at end of period | ¥73,470 million |
| Full-year earnings forecast | Net Sales ¥315,000 million (YoY +17.5%) / Operating profit ¥-4,000 million / Ordinary income ¥-2,500 million / Net income ¥0 million |
| Annual Dividend Forecast | ¥50 → ¥40（-20.0%） |
| Payout ratio | 44.4 |
| Shareholder Return Policy | Aims to maintain a total payout ratio of 25%–30% |
| Depreciation and amortization | ¥8,087 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Item Gain on sale of non-current assets / Amount ¥4,759 million, Item Gain on disposal of fixed assets / Amount ¥13 million, Item Gain on sale of investment securities / Amount ¥2,599 million / Extraordinary loss Item Loss on sale of fixed assets / Amount ¥19 million, Item Losses on disposal of fixed assets / Amount ¥922 million, Item Environmental Measures Expense / Amount ¥464 million, Item Operating shutdown loss / Amount ¥499 million |
| Disclosure regarding the going concern assumption | No applicable matters. The filing states, "There are no applicable matters." |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Material subsequent events | At a meeting of the Board of Directors held on 24 April 2026, the company resolved to acquire up to 1,500,000 treasury shares, for a total acquisition cost of up to ¥2.7 billion, through on-market purchases from 1 May to 30 September 2026. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for analysts) |
| Issued Shares at Period-End | 110,064,249 Shares |
| Treasury Shares at Period-End | 7,544,134 Shares |
| Factors Behind Changes in Business Performance | Steel exports from China remained at high levels, while delays in the construction schedules of domestic building projects were not resolved, leaving the steel market in a difficult environment. Although prices of steel scrap were below the previous year, shipment prices for products fell further, and fixed costs rose as production volume declined. |
Items this document does not state (7)
Revision to Earnings ForecastSegment revenueSegment profitRegional salesOrders received and order backlogImpairment lossChanges in the scope of consolidation
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.Steel exports from China remained at high levels, the domestic steel market remained difficult as delays in the construction schedules of domestic building projects were not resolved, shipment prices for products fell sharply, and fixed costs rose as production volume declined.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.