Worth reading
46Recurring
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
-6998
¥ million (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales160,389¥ millionYear on year -4.7%Progress 96.6%
Operating profit4,495¥ millionYear on year -60.9%Progress 99.9%
Ordinary income65,235¥ millionYear on year +19.9%Progress 95.9%
Net income attributable to owners of the parent62,389¥ millionYear on year +96.0%Progress 132.7%
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¥1,024.60
Operating Margin2.8%
Financial position at period-end
Total assets633,540¥ million
of which net assets 581,417 ¥ millionEquity ratio 85.5%vs. prior year-end +0.7pt
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+52,035
Investment-40,875
Financials-57,776
Net change-46,616
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¥75,458 million
Segment revenueSteel Business (Japan) ¥52,981 million (YoY -11.0%), Steel Business (Thailand) ¥68,520 million (YoY -0.9%), Steel Business (Indonesia) ¥25,033 million (YoY -10.5%), Railway Products Business ¥9,674 million (YoY +10.9%)
Segment profitSteel Business (Japan) ¥1,494 million (YoY -74.9%), Steel Business (Thailand) ¥4,236 million (YoY -20.7%), Steel Business (Indonesia) ¥1,025 million (YoY -72.9%), Railway Products Business ¥1,731 million (YoY +21.0%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥166,000 million (YoY +3.5%)
Operating profit¥4,500 million (YoY +0.1%)
Ordinary income¥68,000 million (YoY +4.2%)
Net income¥47,000 million (YoY -24.7%)
Annual Dividend Forecast¥400 → ¥400（0.0%）
Payout ratio39.0%
Shareholder Return PolicyThe consolidated payout ratio will be approximately 40%, with a minimum annual dividend of ¥300 per share. Share repurchases will be conducted as appropriate after comprehensively considering the total payout ratio and other factors.
Factors Behind Changes in Business Performance
Japan, Thailand and Indonesia reported lower sales and profits due to inexpensive steel exports driven by China's excess production, stagnant demand for steel products, and rising costs including iron scrap prices and electricity expenses. In contrast, profit increased in the US due to steady demand, stronger tariffs and enhanced sales of high-value-added products. Equity in earnings of affiliates and gains on sales of investment securities also lifted profit.
Disclosure regarding the going concern assumption
Not applicable.
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 0 companies / Excluded 0 companies / Company name Not disclosed
Material subsequent eventsNot applicable.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥12 million, Gain on sale of investment securities ¥16,821 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥467 million, Provision for litigation loss ¥111 million, Loss on transfer of receivables ¥914 million, Other ¥86 million
Depreciation and amortization¥10,507 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for securities analysts and institutional investors)
Issued Shares at Period-End62,000,000 shares
Treasury Shares at Period-End2,247,590 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥160,389 million (YoY -4.7%) |
| Operating profit | ¥4,495 million (YoY -60.9%) |
| Ordinary income | ¥65,235 million (YoY +19.9%) |
| Profit attributable to owners of the parent | ¥62,389 million (YoY +96.0%) |
| Net income per share | ¥1,024.60 |
| Operating Margin | 2.8% |
| Equity ratio | End of the current fiscal period 85.5% / End of previous period 84.8% |
| Total assets | ¥633,540 million |
| Net assets | ¥581,417 million |
| Cash flows from operating activities | ¥52,035 million |
| Cash flows from investing activities | ¥-40,875 million |
| Cash flows from financing activities | ¥-57,776 million |
| Cash and cash equivalents at end of period | ¥75,458 million |
| Full-year earnings forecast | Net Sales ¥166,000 million (YoY +3.5%) / Operating profit ¥4,500 million (YoY +0.1%) / Ordinary income ¥68,000 million (YoY +4.2%) / Net income ¥47,000 million (YoY -24.7%) |
| Annual Dividend Forecast | ¥400 → ¥400（0.0%） |
| Payout ratio | 39.0% |
| Shareholder Return Policy | The consolidated payout ratio will be approximately 40%, with a minimum annual dividend of ¥300 per share. Share repurchases will be conducted as appropriate after comprehensively considering the total payout ratio and other factors. |
| Segment revenue | Steel Business (Japan) ¥52,981 million (YoY -11.0%), Steel Business (Thailand) ¥68,520 million (YoY -0.9%), Steel Business (Indonesia) ¥25,033 million (YoY -10.5%), Railway Products Business ¥9,674 million (YoY +10.9%) |
| Segment profit | Steel Business (Japan) ¥1,494 million (YoY -74.9%), Steel Business (Thailand) ¥4,236 million (YoY -20.7%), Steel Business (Indonesia) ¥1,025 million (YoY -72.9%), Railway Products Business ¥1,731 million (YoY +21.0%) |
| Depreciation and amortization | ¥10,507 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥12 million, Gain on sale of investment securities ¥16,821 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥467 million, Provision for litigation loss ¥111 million, Loss on transfer of receivables ¥914 million, Other ¥86 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| 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 0 companies / Excluded 0 companies / Company name Not disclosed |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for securities analysts and institutional investors) |
| Issued Shares at Period-End | 62,000,000 shares |
| Treasury Shares at Period-End | 2,247,590 shares |
| Factors Behind Changes in Business Performance | Japan, Thailand and Indonesia reported lower sales and profits due to inexpensive steel exports driven by China's excess production, stagnant demand for steel products, and rising costs including iron scrap prices and electricity expenses. In contrast, profit increased in the US due to steady demand, stronger tariffs and enhanced sales of high-value-added products. Equity in earnings of affiliates and gains on sales of investment securities also lifted profit. |
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 steel businesses in Japan, Thailand and Indonesia reported lower sales and profits due to inflows of Chinese steel products, stagnant demand for steel products, and rising costs including iron scrap prices and electricity expenses. Meanwhile, steady demand in the US business, improved steel margins, increased equity in earnings of affiliates, and gains on sales of investment securities lifted ordinary profit and net income.
How to read this page
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