Worth reading
66In focus
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
32.9
Year-on-year revenue growth (%)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFirst quarter of the fiscal year ending March 202714 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥40,452 million+32.9%
Operating profit¥3,279 million+223.4%
Ordinary income¥3,701 million+175.8%
Net income¥2,631 million+146.0%
Operating profit margin8.1 %
Selling, general and administrative expenses¥25,000 million
Results for the three months of the current quarter
Orders received
¥54,605 million
Net Sales
¥40,452 million
Operating profit
¥3,279 million
Ordinary income
¥3,701 million
Profit attributable to owners of parent for the quarter
¥2,631 million
Full-year earnings forecast
Orders received
¥200,000 million
Order backlog
¥754,158 million
Net Sales
¥191,000 million
Operating profit
¥17,800 million
Ordinary income
¥18,500 million
Profit attributable to owners of the parent
¥15,400 million
Earnings per share
¥215
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress is steady relative to the full-year forecast; no changeBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Orders receivedA decrease in the number of orders in Domestic Environment and Energy; two waste treatment plant DBO projects and two new-build biomass power plant projects in the previous-year quarter; and the elimination of the consolidation impact of IHI Generic Boilers, among other factors
Net SalesIncreased progress on plants already ordered
Operating profitRevenue growth
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Demand is steady, and the forecast assumes progress on projects already ordered and waste treatment plants. Numerical assumptions for foreign exchange rates, raw material prices and other factors are not disclosedNew initiatives
- Investment in a demonstration facility for energy-efficient CO2 separation and capture technology
- Investment in a new research building at the Harima Plant (provisional name)
- Strengthening recruitment and training, primarily in the engineering, construction and maintenance divisions
- Enhancing shareholder returns through share buybacks and cancellations
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥54,605 million-61.2%
- Order backlog¥759,312 million+10.4%
- Quarterly earnings per share¥36.19+154.9%
- Number of facilities under long-term O&M contracts31 Facility
- Number of EPC projects in the order backlog for municipal waste treatment plants17 Engagements
Segment results
Orders received
Companywide
¥54,605 million-61.2%
Environment and Energy (Domestic)
¥43,128 million-66.0%
Environment and Energy (Overseas)
¥624 million+216.7%
Civilian Heat Energy
¥9,220 million-22.7%
Facilities and Systems
¥1,847 million+8.1%
Net Sales
Companywide
¥40,452 million+32.9%
Environment and Energy (Domestic)
¥33,603 million+44.5%
Environment and Energy (Overseas)
¥553 million-40.9%
Civilian Heat Energy
¥5,074 million+5.5%
Facilities and Systems
¥1,317 million-13.9%
Operating profit
Companywide
¥3,279 million+223.4%
Environment and Energy (Domestic)
¥3,945 million+115.3%
Environment and Energy (Overseas)
¥-69 million
Civilian Heat Energy
¥138 million
Facilities and Systems
¥85 million+30,221.9%
Medium-term management plan targets
Shareholder return targets under the 14th Medium-Term Management Plan: a payout ratio of 50% or DOE of 4.0%, whichever is higher, and share buybacks totaling approximately ¥18 billion over 3 yearsMarket Size / Share
Number of domestic waste incineration facilities
991 Facility
Percentage of facilities over 20 years old
71.1 %
Outlook for orders in the renewal and core-facility improvement market15–20 projects annually
Our share of the long-term O&M order backlogApproximately 90%
Orders received and order backlog
Orders received
¥54,605 million
Order backlog
¥759,312 million
Number of employees
Consolidated
4,504 people
Standalone
1,117 people
Number of additions
60-70
Capital expenditures
¥4,500 million
Annual Dividend
¥108 per share
Interim54
End of period54
Payout ratio
50 %
NotesTargeting a payout ratio of 50% or DOE of 4.0%, whichever is higher
Acquisition of treasury shares
Amount
¥4,000 million
PeriodScheduled for 15 May 2026 to 7 September 2026
Scheduled retirement date30 October 2026
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥40,452 million (YoY +32.9%) |
| Operating profit | ¥3,279 million (YoY +223.4%) |
| Ordinary income | ¥3,701 million (YoY +175.8%) |
| Net income | ¥2,631 million (YoY +146.0%) |
| Operating profit margin | 8.1 % |
| Selling, general and administrative expenses | ¥25,000 million |
| Results for the three months of the current quarter | Orders received ¥54,605 million / Net Sales ¥40,452 million / Operating profit ¥3,279 million / Ordinary income ¥3,701 million / Profit attributable to owners of parent for the quarter ¥2,631 million |
| Full-year earnings forecast | Orders received ¥200,000 million / Order backlog ¥754,158 million / Net Sales ¥191,000 million / Operating profit ¥17,800 million / Ordinary income ¥18,500 million / Profit attributable to owners of the parent ¥15,400 million / Earnings per share ¥215 |
| Self-assessment against the plan | Progress is steady relative to the full-year forecast; no change |
| Segment results | Orders received Companywide ¥54,605 million (YoY -61.2%) / Environment and Energy (Domestic) ¥43,128 million (YoY -66.0%) / Environment and Energy (Overseas) ¥624 million (YoY +216.7%) / Civilian Heat Energy ¥9,220 million (YoY -22.7%) / Facilities and Systems ¥1,847 million (YoY +8.1%) / Net Sales Companywide ¥40,452 million (YoY +32.9%) / Environment and Energy (Domestic) ¥33,603 million (YoY +44.5%) / Environment and Energy (Overseas) ¥553 million (YoY -40.9%) / Civilian Heat Energy ¥5,074 million (YoY +5.5%) / Facilities and Systems ¥1,317 million (YoY -13.9%) / Operating profit Companywide ¥3,279 million (YoY +223.4%) / Environment and Energy (Domestic) ¥3,945 million (YoY +115.3%) / Environment and Energy (Overseas) ¥-69 million / Civilian Heat Energy ¥138 million / Facilities and Systems ¥85 million (YoY +30,221.9%) |
| Breakdown of Factors Affecting the Change | Orders received A decrease in the number of orders in Domestic Environment and Energy; two waste treatment plant DBO projects and two new-build biomass power plant projects in the previous-year quarter; and the elimination of the consolidation impact of IHI Generic Boilers, among other factors / Net Sales Increased progress on plants already ordered / Operating profit Revenue growth |
| Key KPIs | Orders received ¥54,605 million (YoY -61.2%), Order backlog ¥759,312 million (YoY +10.4%), Quarterly earnings per share ¥36.19 (YoY +154.9%), Number of facilities under long-term O&M contracts 31 Facility, Number of EPC projects in the order backlog for municipal waste treatment plants 17 Engagements |
| Number of employees | Consolidated 4,504 people / Standalone 1,117 people / Number of additions 60-70 |
| Assumptions Underlying the Business Outlook | Demand is steady, and the forecast assumes progress on projects already ordered and waste treatment plants. Numerical assumptions for foreign exchange rates, raw material prices and other factors are not disclosed |
| Medium-term management plan targets | Shareholder return targets under the 14th Medium-Term Management Plan: a payout ratio of 50% or DOE of 4.0%, whichever is higher, and share buybacks totaling approximately ¥18 billion over 3 years |
| Annual Dividend | ¥108 per share |
| Payout ratio | 50 % |
| Acquisition of treasury shares | Amount ¥4,000 million / Number of Shares Not disclosed / Period Scheduled for 15 May 2026 to 7 September 2026 / Scheduled retirement date 30 October 2026 |
| Capital expenditures | ¥4,500 million |
| Orders received and order backlog | Orders received ¥54,605 million / Order backlog ¥759,312 million |
| Market Size / Share | Number of domestic waste incineration facilities 991 Facility / Percentage of facilities over 20 years old 71.1 % / Outlook for orders in the renewal and core-facility improvement market 15–20 projects annually / Our share of the long-term O&M order backlog Approximately 90% |
| New initiatives | Investment in a demonstration facility for energy-efficient CO2 separation and capture technology, Investment in a new research building at the Harima Plant (provisional name), Strengthening recruitment and training, primarily in the engineering, construction and maintenance divisions, Enhancing shareholder returns through share buybacks and cancellations |
Items this document does not state (7)
Gross Profit MarginProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookFinancial targetsKey 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.Orders received declined due to a decrease in the number of orders in the Domestic Environment and Energy business. Revenue and operating profit increased due to progress on plants already ordered in this business, mainly reflecting increased progress on waste treatment plants.
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