Consolidated operating margin of 15% or more
First written in FY2017. 8 of 33 entries say "Advanced", first in FY2018-Q2. Latest entry: 2026-11-09.
Tenryu Saw Mfg. moved to the "Worse" side of this theme in 2026, 4 years after the typical company in this theme (2022).
The whole theme swung hardest in 2019: 15 of 104 companies on the "Worse" side.
16 other companies' latest entry also says "Softened".
- 2026-11-09SoftenedRevisions to earnings forecasts
「11.7 （▲1.3）」
2026年度の営業利益率目標を、前回発表目標13.0％から11.7％へ引き下げた。 - FY2026Reduction of the FY2026 operating margin target and failure to achieve the targetAnnual report
「The targets for FY2026, the final year of the Medium-Term Management Plan for FY2024-FY2026, are as follows: • Operating margin: 13.0%」
The FY2026 target was reduced from the FY2025 target of 13.3% to 13.0%. The FY2025 operating margin was 12.9%, indicating that the operating margin target was not achieved even against the FY2026 target. - FY2026-H1AdvancedAnnual report
「Revenue for the six-month interim period was ¥6,752 million, up 2.8% year on year. Operating profit was ¥927 million, up 1.2% year on year, supported by higher utilization at the China plant resulting from increased orders.」
Based on revenue of ¥6,752 million and operating profit of ¥927 million, the consolidated operating margin for the interim period was approximately 13.7%, above the FY2025 target of 13.3% under the Medium-Term Management Plan. - FY2025RaisedAnnual report
「The targets for FY2025, the middle year of the Medium-Term Management Plan for FY2024-FY2026, are as follows: • Operating margin: 13.3% • ROE (return on equity): 4.1% • PBR (price-to-book ratio): 0.58x」
The operating margin target was raised from 12.5% for FY2024 to 13.3% for FY2025, with a target of 15.0% for FY2026. The actual operating margin for FY2024 was 13.9%. - FY2025-H1AdvancedAnnual report
「Revenue for the six-month interim period was ¥6,566 million, up 22.5% year on year. Operating profit was ¥916 million, up 70.3% year on year, mainly due to the recovery in orders, with improved production efficiency from automated and labor-saving equipment at overseas plants also contributing.」
The consolidated operating margin for the six-month interim period was approximately 14.0%, above the FY2024 operating margin target of 12.5% stated in the previous fiscal year. - FY2024Reduction of the operating margin target and changes to the KPI frameworkAnnual report
「The targets for FY2024, the first year of the new Medium-Term Management Plan for FY2024-FY2026, are as follows: • Operating margin: 12.5% • ROE (return on equity): 3.8% • PBR (price-to-book ratio): 0.49x Operating profit was ¥1,242 million, resulting in a consolidated operating margin of 10.4%, exceeding the target operating margin of at least 10% specified as a numerical management KPI.」
Under the new Medium-Term Management Plan, the operating margin target for FY2024 is stated as 12.5%, compared with the previous targets of at least 15% and at least 16% for FY2022. Meanwhile, the performance analysis sets a target of at least 10% and states that the actual result of 10.4% exceeded it, leaving multiple descriptions of the operating margin target in place. - FY2024-Q3Below targetAnnual report
「As a result, revenue for the nine-month period ended Q3 was ¥8,758 million, down 18.1% year on year. Operating profit was ¥848 million, down 46.1% year on year, due to higher raw material and resource prices and lower plant utilization resulting from the decline in orders.」
Based on revenue of ¥8,758 million and operating profit of ¥848 million, the consolidated operating margin was approximately 9.7%, below the previously stated target of at least 15% and the FY2022 target of at least 16%. - FY2024-Q2Below targetAnnual report
「Revenue was ¥5,358 million, down 25.7% year on year. Operating profit was ¥538 million, down 56.3% year on year, mainly due to higher raw material and energy prices and lower plant utilization resulting from the decline in orders.」
The consolidated operating margin for the six-month period ended Q2 was approximately 10.0%, below the previous target of at least 15% and the FY2022 target of at least 16%. - FY2024-Q1Below targetAnnual report
「Revenue for the three-month period ended Q1 was ¥2,594 million, down 26.6% year on year. Operating profit was ¥266 million, down 61.2% year on year, mainly due to higher raw material and energy prices and lower plant utilization resulting from the decline in orders.」
Based on revenue of ¥2,594 million and operating profit of ¥266 million, the consolidated operating margin was approximately 10.3%, below the previous target of at least 15% and the FY2022 target of at least 16%. - FY2023-Q3Below targetAnnual report
「As a result, revenue for the nine-month period ended Q3 was ¥10,689 million, up 0.6% year on year. Although demand related to stay-at-home consumption in the housing market had settled down and revenue declined, growth in carbide-tipped saw blades for metal contributed to the result. Operating profit was ¥1,573 million, down 30.4% year on year, affected by higher raw material, energy and logistics costs, among other factors.」
Based on revenue of ¥10,689 million and operating profit of ¥1,573 million, the consolidated operating margin was approximately 14.7%, below the previous target of at least 15% and the FY2022 target of at least 16%, based on the nine-month results. - FY2023-Q2AdvancedAnnual report
「As a result, revenue for the six-month period ended Q2 was ¥7,211 million, up 3.1% year on year, supported by firm domestic sales and the positive effect of the weaker yen. Operating profit was ¥1,231 million, down 15.0% year on year, as expenses increased due to higher costs resulting from rising raw material prices and higher logistics costs, among other factors.」
The consolidated operating margin for the six-month period ended Q2 was approximately 17.1%, exceeding both the previously stated FY2022 target of at least 16% and the previous target of at least 15%. - FY2023-Q1AdvancedAnnual report
「Revenue for the three-month period ended Q1 was ¥3,535 million, up 4.6% year on year, as sales remained firm in domestic and overseas markets. Operating profit was ¥687 million, up 5.2% year on year.」
The consolidated operating margin for Q1 was approximately 19.4%, exceeding both the previous target of at least 15% and the FY2022 target of at least 16%. - FY2022RaisedAnnual report
「As a specific numerical target, the Company aims for a consolidated operating margin of at least 16% in FY2022.」
The target for FY2022 was raised from the previous target of at least 15% to at least 16%. The Company states that the operating margin for the fiscal year was 19.4%, substantially exceeding the previous 15% target. - FY2022-Q3AdvancedAnnual report
「As a result, revenue for the nine-month period ended Q3 was ¥10,628 million, up 34.7% year on year, as orders recovered in domestic and overseas markets and sales remained generally strong. Operating profit was ¥2,260 million, up 116.0% year on year.」
The consolidated operating margin was approximately 21.3%, exceeding the previously stated target of at least 15% based on the nine-month results. - FY2022-Q2AdvancedAnnual report
「Revenue for the six-month period ended Q2 was ¥6,996 million, up 42.7% year on year, as orders recovered in domestic and overseas markets and sales remained generally strong. Operating profit was ¥1,448 million, up 176.8% year on year.」
Based on revenue of ¥6,996 million and operating profit of ¥1,448 million, the consolidated operating margin was approximately 20.7%, exceeding the previously stated target of at least 15%. The results specifically show that the target was reached for the six-month period ended Q2. - FY2022-Q1AdvancedAnnual report
「Revenue for the three-month period ended Q1 was ¥3,378 million, up 35.1% year on year, as orders recovered in domestic and overseas markets and sales remained strong. Operating profit was ¥653 million, up 97.1% year on year.」
The consolidated operating margin for the quarter was approximately 19.3%, exceeding the previously stated target of at least 15%. Although the results show that the target was specifically reached in Q1, they do not explicitly indicate that the full-year target was achieved. - FY2021-Q3Below targetAnnual report
「Revenue for the nine-month period ended Q3 was ¥7,888 million, down 12.2% year on year. Operating profit was ¥1,046 million, down 17.6% year on year.」
Based on revenue of ¥7,888 million and operating profit of ¥1,046 million, the consolidated operating margin was approximately 13.3%, below the previously stated target of at least 15%. No withdrawal or change to the target is stated. - FY2021-Q2Below targetAnnual report
「On the earnings side, operating profit was ¥523 million (down 41.8% year on year), due mainly to production adjustments resulting from fewer orders.」
Based on revenue of ¥4,904 million and operating profit of ¥523 million, the consolidated operating margin was approximately 10.7%, below the previously stated target level of 15% or more. No withdrawal or change to the target is disclosed. - FY2021-Q1Below targetAnnual report
「Revenue was ¥2,500 million (down 17.6% year on year). On the earnings side, operating profit was ¥331 million (down 23.1% year on year), due mainly to production adjustments resulting from fewer orders.」
Based on revenue of ¥2,500 million and operating profit of ¥331 million, the consolidated operating margin was approximately 13.3%, below the previously stated target level of 15% or more. No withdrawal or change to the target is disclosed. - FY2020Below targetAnnual report
「Operating profit was ¥1,635 million and the consolidated operating margin was 13.5%, meaning that the target management metric of a consolidated operating margin of 15% or more was not achieved.」
The consolidated operating margin was 13.5%, and the company explicitly states that the previously stated target of 15% or more was not achieved. No withdrawal or change to the target is disclosed. - FY2020-Q3Below targetAnnual report
「Although overseas sales declined due to the slowdown in the global economy, domestic sales generally remained firm, resulting in revenue of ¥8,984 million for the nine months ended 31 December (up 0.2% year on year). On the earnings side, operating profit was ¥1,270 million (up 5.7% year on year).」
Based on revenue of ¥8,984 million and operating profit of ¥1,270 million, the consolidated operating margin was approximately 14.1%, below the previously stated target level of 15% or more. No explicit withdrawal or change to the target is disclosed. - FY2020-Q2Below targetAnnual report
「As sales of carbide-tipped saw blades for metal and housing materials remained firm overall in domestic and overseas markets, revenue for the six months ended 30 September was ¥6,053 million (up 2.9% year on year). On the earnings side, operating profit was ¥898 million (up 18.6% year on year).」
Based on revenue of ¥6,053 million and operating profit of ¥898 million, the consolidated operating margin was approximately 14.8%, below the previously stated target level of 15% or more. No explicit withdrawal or change to the target is disclosed. - FY2020-Q1Below targetAnnual report
「As sales of carbide-tipped saw blades for metal remained firm overall in domestic and overseas markets, revenue for the three months ended 30 June was ¥3,033 million (up 3.2% year on year). On the earnings side, operating profit was ¥431 million (up 0.6% year on year), despite higher costs, including depreciation and amortization expenses resulting from capital investment, and foreign exchange effects from the stronger yen.」
Based on revenue of ¥3,033 million and operating profit of ¥431 million, the consolidated operating margin was approximately 14.2%, below the previously stated target level of 15% or more. No explicit withdrawal or change to the target is disclosed. - FY2019Below targetAnnual report
「Operating profit was ¥1,615 million and the consolidated operating margin was 13.6%, meaning that the target management metric of a consolidated operating margin of 15% or more was not achieved.」
The consolidated operating margin was 13.6%, below the previously stated target level of 15% or more. No explicit withdrawal or change to the target is disclosed. - FY2019-Q3Below targetAnnual report
「As sales generally remained firm in domestic and overseas markets, revenue for the nine months ended 31 December was ¥8,968 million (up 5.6% year on year). On the earnings side, operating profit was ¥1,202 million (up 1.2% year on year), due mainly to higher depreciation and amortization expenses resulting from capital investment.」
Based on revenue of ¥8,968 million and operating profit of ¥1,202 million, the consolidated operating margin was approximately 13.4%, below the previously stated target level of 15% or more. This filing does not disclose any explicit withdrawal or change to the target. - FY2019-Q2Below targetAnnual report
「As sales generally remained firm in domestic and overseas markets, revenue for the six months ended 30 September was ¥5,884 million (up 6.6% year on year). On the earnings side, operating profit was ¥758 million (down 8.4% year on year), due mainly to higher depreciation and amortization expenses resulting from capital investment.」
Based on revenue of ¥5,884 million and operating profit of ¥758 million, the consolidated operating margin was approximately 12.9%, below the previously stated target level of 15% or more. No explicit withdrawal or change to the target is disclosed. - FY2019-Q1Below targetAnnual report
「As sales generally remained firm in domestic and overseas markets, revenue for the three months ended 30 June was ¥2,937 million (up 12.5% year on year). On the earnings side, operating profit was ¥428 million (up 25.8% year on year).」
Based on revenue of ¥2,937 million and operating profit of ¥428 million, the consolidated operating margin was approximately 14.6%, below the previously stated target level of 15% or more. No explicit withdrawal or change to the target is disclosed. - FY2018Below targetAnnual report
「Revenue for the fiscal year was ¥11,296 million (up 13.6% year on year). On the earnings side, operating profit was ¥1,638 million (up 36.0% year on year).」
Based on revenue of ¥11,296 million and operating profit of ¥1,638 million, the consolidated operating margin was approximately 14.5%, below the previously stated target level of 15% or more. No explicit withdrawal or change to the target is disclosed. - FY2018-Q3Below targetAnnual report
「Revenue for the nine months ended 31 December was ¥8,489 million (up 15.7% year on year). On the earnings side, operating profit was ¥1,188 million (up 36.2% year on year), partly due to foreign exchange effects.」
Based on revenue of ¥8,489 million and operating profit of ¥1,188 million, the consolidated operating margin was approximately 14.0%, below the previously stated target level of 15% or more. This filing does not state that the 15% target itself has been explicitly withdrawn or changed. - FY2018-Q2AdvancedAnnual report
「On the earnings side, operating profit was ¥827 million (up 33.3% year on year).」
Operating profit for the six months ended 30 September was ¥827 million and revenue was ¥5,519 million, resulting in a consolidated operating margin of approximately 15.0%, indicating that the target level of a consolidated operating margin of 15% or more was reached. - FY2017First statedAnnual report
「As a specific numerical target, we aim for a consolidated operating margin of 15% or more.」
The company positions securing stable operating profit as the foundation of management, and this is the first confirmation of a specific management metric target of a consolidated operating margin of 15% or more.