Worth reading
57In 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
40.4
¥100 million (year-on-year decrease in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFirst quarter of the fiscal year ending March 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥140,400 million-0.3%
Operating profit¥5,878 million-40.8%
Ordinary income¥6,651 million-36.1%
Net income¥4,842 million-32.9%
Operating profit margin4.2%, down 2.9 percentage points year on year (from 7.1% to 4.2%)
Results for the three months of the current quarterNet sales of ¥140.4 billion, operating profit of ¥5.88 billion, ordinary profit of ¥6.65 billion, and profit attributable to owners of parent of ¥4.84 billion. All figures are for the first quarter alone.
Full-year earnings forecastNet sales of ¥677.0 billion, operating profit of ¥81.0 billion, ordinary profit of ¥82.5 billion, and profit attributable to owners of parent of ¥60.0 billion
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net sales: foreign exchange effects, etc., -¥10.5 billion; volume effects, -¥400 million; price pass-through, etc., +¥4.2 billion; other factors, +¥5.9 billion; total, -¥400 million. Operating profit: -¥4.05 billion, +¥4.17 billion, -¥2.21 billion, -¥2.04 billion, and +¥90 million, for a total decline of ¥4.04 billion (the item names in the chart could not be read with certainty and are therefore omitted).
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Foreign exchange assumptions: ¥150.00 per US dollar and ¥180.00 per euro for the first half and full year of FY2026. The exchange-rate assumption for the Americas' second-quarter outlook is ¥158.59 per US dollar.New initiatives
As an additional cost-reduction measure in the Americas, the company decided in April to engage consultants and began restructuring its earnings structure. At the Pensacola plant, it is working to improve equipment utilization, inventory management, and quality inspections, while at the Mount Hope plant it is implementing measures to resolve system errors.Unit price and quantity metricsThese figures show sales broken down by price and volume.
The company disclosed Japan order intake and net sales by product, as well as net sales by product in the Americas and Europe. Metrics such as customer numbers and average spend per customer were not disclosed.Segment results
Japan: net sales of ¥55.417 billion (+1.3% year on year) and operating profit of ¥1.914 billion (+34.9%); Americas (ODC): net sales of ¥52.713 billion (-5.5%) and operating profit of ¥4.687 billion (-41.5%); Europe (NF): net sales of ¥30.266 billion (+9.5%) and an operating loss of ¥507 million; Asia: net sales of ¥2.126 billion (-20.8%) and an operating loss of ¥160 millionMedium-term management plan targets
The medium-term management plan targets cumulative share repurchases of ¥40.0 billion over the 3 years through FY2027, with ¥30.0 billion scheduled to be repurchased over the next one and a half years.Orders received and order backlog
Japan order intake for the first quarter of FY2026 was ¥77.769 billion, and the order backlog was ¥167.023 billion as of the end of June 2026.Annual Dividend
¥146 (regular dividend of ¥132 plus commemorative dividend of ¥14)Payout ratio
Not disclosed. The company plans to target a dividend on equity (DOE) of 10%.Acquisition of treasury shares
The repurchase limit is ¥10.0 billion, of which ¥5.5 billion had been completed by the end of July. Under the medium-term management plan, cumulative repurchases of ¥40.0 billion are planned through FY2027, including ¥30.0 billion over the next one and a half years.| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥140,400 million (YoY -0.3%) |
| Operating profit | ¥5,878 million (YoY -40.8%) |
| Ordinary income | ¥6,651 million (YoY -36.1%) |
| Net income | ¥4,842 million (YoY -32.9%) |
| Operating profit margin | 4.2%, down 2.9 percentage points year on year (from 7.1% to 4.2%) |
| Results for the three months of the current quarter | Net sales of ¥140.4 billion, operating profit of ¥5.88 billion, ordinary profit of ¥6.65 billion, and profit attributable to owners of parent of ¥4.84 billion. All figures are for the first quarter alone. |
| Full-year earnings forecast | Net sales of ¥677.0 billion, operating profit of ¥81.0 billion, ordinary profit of ¥82.5 billion, and profit attributable to owners of parent of ¥60.0 billion |
| Segment results | Japan: net sales of ¥55.417 billion (+1.3% year on year) and operating profit of ¥1.914 billion (+34.9%); Americas (ODC): net sales of ¥52.713 billion (-5.5%) and operating profit of ¥4.687 billion (-41.5%); Europe (NF): net sales of ¥30.266 billion (+9.5%) and an operating loss of ¥507 million; Asia: net sales of ¥2.126 billion (-20.8%) and an operating loss of ¥160 million |
| Breakdown of Factors Affecting the Change | Net sales: foreign exchange effects, etc., -¥10.5 billion; volume effects, -¥400 million; price pass-through, etc., +¥4.2 billion; other factors, +¥5.9 billion; total, -¥400 million. Operating profit: -¥4.05 billion, +¥4.17 billion, -¥2.21 billion, -¥2.04 billion, and +¥90 million, for a total decline of ¥4.04 billion (the item names in the chart could not be read with certainty and are therefore omitted). |
| Unit price and quantity metrics | The company disclosed Japan order intake and net sales by product, as well as net sales by product in the Americas and Europe. Metrics such as customer numbers and average spend per customer were not disclosed. |
| Assumptions Underlying the Business Outlook | Foreign exchange assumptions: ¥150.00 per US dollar and ¥180.00 per euro for the first half and full year of FY2026. The exchange-rate assumption for the Americas' second-quarter outlook is ¥158.59 per US dollar. |
| Medium-term management plan targets | The medium-term management plan targets cumulative share repurchases of ¥40.0 billion over the 3 years through FY2027, with ¥30.0 billion scheduled to be repurchased over the next one and a half years. |
| Annual Dividend | ¥146 (regular dividend of ¥132 plus commemorative dividend of ¥14) |
| Payout ratio | Not disclosed. The company plans to target a dividend on equity (DOE) of 10%. |
| Acquisition of treasury shares | The repurchase limit is ¥10.0 billion, of which ¥5.5 billion had been completed by the end of July. Under the medium-term management plan, cumulative repurchases of ¥40.0 billion are planned through FY2027, including ¥30.0 billion over the next one and a half years. |
| Orders received and order backlog | Japan order intake for the first quarter of FY2026 was ¥77.769 billion, and the order backlog was ¥167.023 billion as of the end of June 2026. |
| New initiatives | As an additional cost-reduction measure in the Americas, the company decided in April to engage consultants and began restructuring its earnings structure. At the Pensacola plant, it is working to improve equipment utilization, inventory management, and quality inspections, while at the Mount Hope plant it is implementing measures to resolve system errors. |
Items this document does not state (12)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planKey KPIsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsCapital expendituresMarket 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 stated reasons were lower volumes resulting from a slowing market and a weak housing market; shipment delays and lower manufacturing efficiency caused by factory operating issues in the Americas; delays in reducing fixed costs in response to lower volumes; and higher costs due to inflation, including raw-material costs. Although price pass-through progressed, it was not sufficient to offset these negative factors.
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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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.