Worth reading
75Important
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
49
¥100 million (year-on-year increase in operating profit for the fiscal year ending March 2027)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal year ending March 2026, full year11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥243,764 million-6.8%
Operating profit¥32,043 million+39.8%
Ordinary income¥34,248 million+28.5%
Net income¥26,676 million-1.3%
Operating profit margin13.1 %
Results for the three months of the current quarter
Net Sales
¥60,597 million
Operating profit
¥8,136 million
Ordinary income
¥8,316 million
Net income
¥9,618 million
Full-year earnings forecast
Net Sales
¥274,500 million
Operating profit
¥36,900 million
Ordinary income
¥38,000 million
Net income
¥25,700 million
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。
Actual results for the fiscal year ending March 2026
Net Sales0.2
Operating profit1.7
Ordinary income2.5
Net income22.9
Segment operating profit
Japan2
North America-1.3
Asia-0.3
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- JapanChange in operating profit2,288
- North AmericaChange in operating profit6,969
- AsiaChange in operating profit-287
- Growth businesses for the fiscal year ending March 2027Expected increase in operating profit25
- Four U.S. structural steel tube companies for the fiscal year ending March 2027Expected increase in operating profit13
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Exchange rate against the U.S. dollar150 Yen/Dollar
- Expected production volume of 丸一 stainless steel BA tubes19 10,000 tubes/month
New initiatives
- Designate data center projects and National Resilience construction projects as priority sales areas
- Begin mass production at the second MMX plant (scheduled for July 2026)
- Expand and commission MPST's 2-inch mill
- Strengthen the sales structure for BA tubes for semiconductor applications
- Establish a supply structure for low-CO2 products
Key KPIsA metric the company considers important as a management benchmark.
- Maruichi Steel Tube sales volume641,428 tYear-on-year (%)-1.6
- Sales volume of the four U.S. companies238,286 tYear-on-year (%)4.2
- SUNSCO sales volume214,418 tYear-on-year (%)-19.1
- KUMA sales volume42,958 tYear-on-year (%)14.5
- MPST sales volume11,654 tYear-on-year (%)19.8
- India real GDP growth rate7.83 %Year on year against the same period last year8.46% in the previous year
Segment results
Japan
Net Sales
¥144,139 million
Operating profit
¥21,851 million
Operating profit_yoy_pct11.7
North America
Net Sales
¥54,837 million
Operating profit
¥5,458 million
Operating profit_yoy_pctOperating loss of ¥1,511 million in the previous year
Asia
Net Sales
¥44,788 million
Operating profit
¥4,164 million
Operating profit_yoy_pct-6.5
Medium-term management plan targets
Fiscal year ending March 2027 (final year of the Seventh Medium-Term Management Plan)
Consolidated revenue
¥300,000 million
Consolidated operating profit
¥40,000 million
ROE
8 %
Payout ratio
45 %
Comparison with actual results and planThe fiscal year ending March 2027 plan is ¥25.5 billion below the medium-term plan for revenue and ¥3.1 billion below it for operating profit
Financial targets
ROE
Actual results for the fiscal year ending March 20267.7 %
Fiscal year ending March 2027: plan7.3 %
Payout ratio
Actual results for the fiscal year ending March 202638 %
Fiscal year ending March 2027: plan44.4 %
Capital expenditures
¥32,300 millions plan for the fiscal year ending March 2027
Annual Dividend
Actual results for the fiscal year ending March 2026
¥44.83 per share
Fiscal year ending March 2027 (forecast)
¥52 per share
Interim26
End of period26
Payout ratio
Actual results for the fiscal year ending March 202638 %
Fiscal year ending March 2027 (forecast)44.4 %
Total payout ratio83 %
Acquisition of treasury shares
Fiscal year ending March 2026
153 Hundreds of millions of yen
Fiscal year ending March 2027
100 Hundreds of millions of yen
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥243,764 million (YoY -6.8%) |
| Operating profit | ¥32,043 million (YoY +39.8%) |
| Ordinary income | ¥34,248 million (YoY +28.5%) |
| Net income | ¥26,676 million (YoY -1.3%) |
| Operating profit margin | 13.1 % |
| Results for the three months of the current quarter | Net Sales ¥60,597 million / Operating profit ¥8,136 million / Ordinary income ¥8,316 million / Net income ¥9,618 million |
| Full-year earnings forecast | Net Sales ¥274,500 million / Operating profit ¥36,900 million / Ordinary income ¥38,000 million / Net income ¥25,700 million |
| Progress against full-year forecast | Actual results for the fiscal year ending March 2026 Net Sales 0.2 / Operating profit 1.7 / Ordinary income 2.5 / Net income 22.9 / Segment operating profit Japan 2 / North America -1.3 / Asia -0.3 |
| Segment results | Japan Net Sales ¥144,139 million / Operating profit ¥21,851 million / Operating profit_yoy_pct 11.7 / North America Net Sales ¥54,837 million / Operating profit ¥5,458 million / Operating profit_yoy_pct Operating loss of ¥1,511 million in the previous year / Asia Net Sales ¥44,788 million / Operating profit ¥4,164 million / Operating profit_yoy_pct -6.5 |
| Breakdown of Factors Affecting the Change | Factors Japan / Change in operating profit ¥2,288 million, Factors North America / Change in operating profit ¥6,969 million, Factors Asia / Change in operating profit ¥-287 million, Factors Growth businesses for the fiscal year ending March 2027 / Expected increase in operating profit 25 Hundreds of millions of yen, Factors Four U.S. structural steel tube companies for the fiscal year ending March 2027 / Expected increase in operating profit 13 Hundreds of millions of yen |
| Key KPIs | Indicator name Maruichi Steel Tube sales volume / Value 641,428 t / Year-on-year (%) -1.6 t, Indicator name Sales volume of the four U.S. companies / Value 238,286 t / Year-on-year (%) 4.2 t, Indicator name SUNSCO sales volume / Value 214,418 t / Year-on-year (%) -19.1 t, Indicator name KUMA sales volume / Value 42,958 t / Year-on-year (%) 14.5 t, Indicator name MPST sales volume / Value 11,654 t / Year-on-year (%) 19.8 t, Indicator name India real GDP growth rate / Value 7.83 % / Year on year against the same period last year 8.46% in the previous year |
| Assumptions Underlying the Business Outlook | Item Exchange rate against the U.S. dollar / Value 150 Yen/Dollar, Item Expected production volume of 丸一 stainless steel BA tubes / Value 19 10,000 tubes/month |
| Medium-term management plan targets | Fiscal year ending March 2027 (final year of the Seventh Medium-Term Management Plan) Consolidated revenue ¥300,000 million / Consolidated operating profit ¥40,000 million / ROE 8 % / Payout ratio 45 % / Comparison with actual results and plan The fiscal year ending March 2027 plan is ¥25.5 billion below the medium-term plan for revenue and ¥3.1 billion below it for operating profit |
| Financial targets | ROE Actual results for the fiscal year ending March 2026 7.7 % / Fiscal year ending March 2027: plan 7.3 % / Payout ratio Actual results for the fiscal year ending March 2026 38 % / Fiscal year ending March 2027: plan 44.4 % |
| Annual Dividend | Actual results for the fiscal year ending March 2026 ¥44.83 per share / Fiscal year ending March 2027 (forecast) ¥52 per share |
| Payout ratio | Actual results for the fiscal year ending March 2026 38 % / Fiscal year ending March 2027 (forecast) 44.4 % / Total payout ratio 83 % |
| Acquisition of treasury shares | Fiscal year ending March 2026 153 Hundreds of millions of yen / Fiscal year ending March 2027 100 Hundreds of millions of yen |
| Capital expenditures | ¥32,300 millions (plan for the fiscal year ending March 2027) |
| New initiatives | Designate data center projects and National Resilience construction projects as priority sales areas, Begin mass production at the second MMX plant (scheduled for July 2026), Expand and commission MPST's 2-inch mill, Strengthen the sales structure for BA tubes for semiconductor applications, Establish a supply structure for low-CO2 products |
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookOrders 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.The increase in operating profit for the fiscal year ending March 2026 was attributable to profit recovery at 丸一鋼管 on a standalone basis and at four U.S. structural steel tube companies. For the fiscal year ending March 2027, the Company expects profit to increase by ¥2.5 billion through the recovery of BA tubes for semiconductor applications and other growth businesses, and by ¥1.3 billion at the four U.S. structural steel tube companies.
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.
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