15% Operating Margin and Global Leadership
First written in FY2016. 14 of 29 entries say "Worsened", first in FY2019. Latest entry: 2026-08-07.
Nittoku moved to the "Worse" side of this theme in 2019, 3 years before the typical company in this theme (2022).
The whole theme swung hardest in 2019: 14 of 100 companies on the "Worse" side.
19 other companies' latest entry also says "Worsened".
- 2026-08-07WorsenedEarnings
「2027年３月期第１四半期 6,437 1.6 72 △78.5 75 △80.4 300 23.8」
第1四半期の営業利益は前年同期比78.5％減、経常利益は80.4％減となり、営業利益率は約1.1％まで低下した。従来の利益率目標からの乖離が再び拡大している。 - FY2026Sharp recovery in revenue and margins, but targets still unmetAnnual report
「As a result, revenue was ¥4,241.2 million, up 27.5% from the previous fiscal year; operating income was ¥543.9 million, up 385.9%; ordinary income was ¥549.2 million, up 348.2%; and net income attributable to owners of the parent was ¥343.9 million, up 163.0%.」
Revenue, operating income and net income all recovered substantially from the previous fiscal year, but the operating margin was approximately 12.8% and the net profit margin approximately 8.1%, still below the targets of at least 15% and 10%, respectively. - 2026-05-15OtherEarnings
「2026年３月期 42,412 27.5 5,439 385.9」
売上高営業利益率は12.8％まで回復したが、従来の15％以上という水準にはなお届いていない。 - FY2026-H1Sharp margin recovery, but target still unmetAnnual report
「Consolidated revenue was ¥1,930.2 million, up 35.5% year on year; operating income was ¥239.3 million, up 5,927.7%; ordinary income was ¥243.0 million, up 5,487.7%; and interim net income attributable to owners of the parent was ¥161.0 million, up 371.5%.」
The operating margin for the interim period recovered to approximately 12.4% and the interim net income margin attributable to owners of the parent to approximately 8.3%, but both remained below the existing targets of at least 15% and 10%, respectively. - FY2025WorsenedAnnual report
「As a result, revenue was ¥3,326.8 million, up 8.0% from the previous fiscal year; operating income was ¥111.9 million, down 73.1%; ordinary income was ¥122.5 million, down 71.4%; and net income attributable to owners of the parent was ¥130.7 million, down 52.3%.」
Although revenue increased, the operating margin fell to approximately 3.4% and the net profit margin to approximately 3.9%, moving further below the previously established target levels of at least 15% and 10%, respectively. - FY2025-H1WorsenedAnnual report
「Under these circumstances, consolidated revenue was ¥1,424.4 million, up 8.2% year on year; operating income was ¥3.9 million, down 97.6%; ordinary income was ¥4.3 million, down 97.5%; and interim net income attributable to owners of the parent was ¥34.1 million, down 69.1%.」
The operating margin for the interim period was approximately 0.3% and the interim net income margin attributable to owners of the parent approximately 2.4%, substantially below the targets of at least 15% and 10%, respectively. Although revenue increased, profitability deteriorated significantly. - FY2024Improved margins, but target still unmetAnnual report
「Based on its basic management policy, the group has set targets of revenue of ¥50,000 million, a sales operating margin of at least 15% and a net income margin attributable to owners of the parent of at least 10% as management indicators, in order to secure stable earnings over the long term and enhance corporate, shareholder and customer value, and will continue working to achieve them.」
The operating margin improved to approximately 13.5% and the net income margin attributable to owners of the parent to approximately 8.9% in the current fiscal year, but both remained below the targets of at least 15% and 10%, respectively. - FY2024-Q3WorsenedAnnual report
「In addition, consolidated revenue for the group was ¥1,933.8 million, down 9.8% year on year; operating income was ¥199.1 million, up 0.9%; ordinary income was ¥211.5 million, up 0.7%; and net income attributable to owners of the parent was ¥134.9 million, down 6.4%.」
For the first 3 quarters, the operating margin was approximately 10.3% and the net income margin attributable to owners of the parent approximately 7.0%, below the target levels of at least 15% and 10%, respectively. Revenue and net income also declined year on year. - FY2024-Q2Improved margins, but target still unmetAnnual report
「Under these circumstances, consolidated revenue for the first 2 quarters was ¥1,316.2 million, down 15.4% year on year, due in part to the timing of sales from made-to-order production. Operating income was ¥166.2 million, up 25.2%; ordinary income was ¥171.1 million, up 21.6%; and net income attributable to owners of the parent was ¥110.3 million, up 18.6%.」
For the first 2 quarters, the operating margin improved to approximately 12.6% and the net income margin attributable to owners of the parent to approximately 8.4% year on year, but both remained below the target levels of at least 15% and 10%, respectively. - FY2024-Q1Returned to operating profitability, but margin target unmetAnnual report
「Under these circumstances, consolidated revenue for the first quarter was ¥419.5 million, down 4.8% year on year, due in part to the timing of sales from made-to-order production. Operating income was ¥0.9 million, compared with an operating loss of ¥1.0 million in the same period of the previous year; ordinary income was ¥7.2 million, up 455.9%; and net income attributable to owners of the parent was ¥1.7 million, down 58.9%.」
Although the company returned to operating profitability from an operating loss in the same period of the previous year, the operating margin was approximately 0.2% and the net income margin attributable to owners of the parent approximately 0.4%, both below the target levels of at least 15% and 10%, respectively. - FY2023Improved margins, but target still unmetAnnual report
「Based on its basic management policy, the group has set targets of revenue of ¥50,000 million, a sales operating margin of at least 15% and a net income margin attributable to owners of the parent of at least 10% as management indicators, in order to secure stable earnings over the long term and enhance corporate, shareholder and customer value, and will continue working to achieve them.」
The targets of revenue of ¥50,000 million, an operating margin of at least 15% and a net profit margin of at least 10% remain in place. Revenue for the current fiscal year was ¥2,946.1 million, with an operating margin of approximately 10.5% and a net income margin attributable to owners of the parent of approximately 7.6%, both below target. - FY2023-Q3Improved margins, but target still unmetAnnual report
「In addition, consolidated revenue for the group was ¥2,143.6 million, up 19.6% year on year; operating income was ¥197.4 million, up 27.0%; ordinary income was ¥210.1 million, up 23.6%; and net income attributable to owners of the parent was ¥144.1 million, up 14.4%.」
For the first 3 quarters, the operating margin improved to approximately 9.2% and the net income margin attributable to owners of the parent to approximately 6.7%, but both remained below the target levels of at least 15% and 10%, respectively. - FY2023-Q2Margin recovery, but target still unmetAnnual report
「As a result, consolidated revenue for the group was ¥1,555.3 million, up 51.4% year on year; operating income was ¥132.7 million, up 110.7%; ordinary income was ¥140.7 million, up 84.9%; and net income attributable to owners of the parent was ¥93.0 million, up 70.6%.」
The operating margin recovered to approximately 8.5% and the net income margin attributable to owners of the parent to approximately 6.0%, but both remained below the target levels of at least 15% and 10%, respectively. - FY2023-Q1WorsenedAnnual report
「As described above, primarily due to delivery dates being pushed back, consolidated revenue for the first quarter was ¥440.7 million, down 20.3% year on year; the company posted an operating loss of ¥1.0 million, compared with operating income of ¥56.1 million in the same period of the previous year; ordinary income was ¥1.2 million, down 97.9%; and net income attributable to owners of the parent was ¥4.1 million, down 90.5%.」
Against the existing targets of an operating margin of at least 15% and a net profit margin of at least 10%, the company posted an operating loss in the first quarter, while net income declined to ¥41 million. - FY2022Improved margins, but target still unmetAnnual report
「Based on its basic management policy, the group has set targets of revenue of ¥50,000 million, a sales operating margin of at least 15% and a net income margin attributable to owners of the parent of at least 10% as management indicators, in order to secure stable earnings over the long term and enhance corporate, shareholder and customer value, and will continue working to achieve them.」
The targets of revenue of ¥50,000 million, an operating margin of at least 15% and a net profit margin of at least 10% remain in place. Revenue recovered to ¥2,812.1 million, operating income to ¥288.5 million and net income attributable to owners of the parent to ¥230.8 million in the current fiscal year, but the target levels have not yet been reached. - FY2022-Q3Improved margins, but target still unmetAnnual report
「As a result, consolidated revenue for the group was ¥1,792.3 million, up 19.5% year on year; operating income was ¥155.4 million, up 82.7%; ordinary income was ¥170.0 million, up 88.1%; and net income attributable to owners of the parent was ¥126.0 million, up 40.0%.」
For the first 3 quarters, the operating margin recovered to approximately 8.7% and the net income margin attributable to owners of the parent to approximately 7.0%, but both remained below the target levels of at least 15% and 10%, respectively. - FY2022-Q2WorsenedAnnual report
「As a result, consolidated revenue for the group was ¥1,027.0 million, up 1.8% year on year; operating income was ¥62.9 million, up 14.0%; ordinary income was ¥76.0 million, up 23.7%; and net income attributable to owners of the parent was ¥54.5 million, down 19.6%.」
Although operating income increased year on year, the operating margin was approximately 6.1% and the net income margin attributable to owners of the parent was approximately 5.3%, both below the targets of at least 15% and 10%, respectively. Net income declined year on year. - FY2022-Q1Recovery in margins, but target still unmetAnnual report
「As a result, consolidated revenue for the group was ¥553.1 million, up 37.5% year on year; operating income was ¥56.1 million, up 461.3%; ordinary income was ¥61.5 million, up 309.3%; and net income attributable to owners of the parent was ¥44.3 million, up 356.2%.」
The first-quarter operating margin recovered to approximately 10.1% and the net income margin attributable to owners of the parent to approximately 8.0% year on year, but both remained below the target levels of at least 15% and 10%, respectively. - FY2021WorsenedAnnual report
「Based on its basic management policy, the group has set targets of revenue of ¥50,000 million, a sales operating margin of at least 15% and a net income margin attributable to owners of the parent of at least 10% as management indicators, in order to secure stable earnings over the long term and enhance corporate, shareholder and customer value, and is working to achieve them.」
While targeting revenue of ¥50,000 million, an operating margin of at least 15% and a net profit margin of at least 10%, the company reported revenue of ¥2,204.6 million, an operating margin of approximately 6.2% and a net income margin attributable to owners of the parent of approximately 5.7% for the current fiscal year, with margins declining further from the previous fiscal year and remaining below target. - FY2021-Q3WorsenedAnnual report
「As a result, consolidated revenue for the group was ¥1,499.3 million, down 26.4% year on year; operating income was ¥85.0 million, down 56.9%; ordinary income was ¥90.3 million, down 57.1%; and net income attributable to owners of the parent was ¥89.9 million, down 40.4%.」
Against the existing targets of an operating margin of at least 15% and a net profit margin of at least 10%, the operating margin for the first 3 quarters was approximately 5.7% and the net income margin attributable to owners of the parent was approximately 6.0%, while profit also declined year on year. - FY2021-Q2WorsenedAnnual report
「As a result, consolidated revenue for the group was ¥1,009.1 million, down 31.9% year on year; operating income was ¥55.2 million, down 69.0%; ordinary income was ¥61.5 million, down 67.6%; and net income attributable to owners of the parent was ¥67.7 million, down 50.6%.」
For the first 2 quarters, the operating margin was approximately 5.5% and the net income margin attributable to owners of the parent was approximately 6.7%, remaining below the target levels of at least 15% and 10%, respectively. Profit also declined sharply year on year. - FY2021-Q1WorsenedAnnual report
「As a result, consolidated revenue for the group was ¥402.4 million, down 22.4% year on year; operating income was ¥9.9 million, down 61.6%; ordinary income was ¥15.0 million, down 55.2%; and net income attributable to owners of the parent was ¥9.7 million, down 56.5%.」
The operating margin was approximately 2.5% and the net income margin attributable to owners of the parent was approximately 2.4%, substantially below the existing targets of an operating margin of at least 15% and a net profit margin of at least 10%. - FY2020WorsenedAnnual report
「Revenue was ¥2,749.2 million, down 13.6% from the previous fiscal year; operating income was ¥248.4 million, down 35.4%; and ordinary income was ¥266.8 million, down 32.0%. Net income attributable to owners of the parent was ¥212.0 million, down 25.8%, due in part to the recognition of ¥21.2 million in subsidy income and other items.」
The operating margin was approximately 9.0% and the net income margin attributable to owners of the parent was approximately 7.7%, remaining below the targets of an operating margin of at least 15% and a net profit margin of at least 10%. - FY2020-Q3WorsenedAnnual report
「Profitability also fell short of the initially projected margin, and profit progress was lower than expected, due to the impact of projects with substantial development components.」
Against the existing targets of an operating margin of at least 15% and a net profit margin of at least 10%, the initially projected margin was not achieved due to the impact of projects with substantial development components. For the first 3 quarters, the operating margin was approximately 9.7% and the net income margin attributable to owners of the parent was approximately 7.4%, both below target. - FY2020-Q2RestatedAnnual report
「As a result, revenue was ¥1,481.4 million, down 0.3% year on year; operating income was ¥178.0 million, up 9.8%; ordinary income was ¥190.0 million, up 12.3%; and net income attributable to owners of the parent was ¥137.2 million, up 16.8%.」
The operating margin was approximately 12.0% and the net income margin attributable to owners of the parent was approximately 9.3%. Although performance improved year on year, both remained below the existing target levels of at least 15% and 10%, respectively. - FY2020-Q1WorsenedAnnual report
「As a result, revenue was ¥518.5 million, down 25.4% year on year; operating income was ¥26.0 million, down 68.4%; ordinary income was ¥33.5 million, down 60.7%; and net income attributable to owners of the parent was ¥22.3 million, down 61.2%.」
Against the existing targets of an operating margin of at least 15% and a net profit margin of at least 10%, operating income and net income attributable to owners of the parent declined sharply year on year in the first quarter. Profitability deteriorated due to customer delivery schedules being weighted toward the second quarter and beyond and increased sales from projects with substantial development components. - FY2019WorsenedAnnual report
「Based on its basic management policy, the company has set targets of a sales operating margin of at least 15% and a net income margin attributable to owners of the parent of at least 10% as management indicators, in order to secure stable earnings over the long term and enhance corporate, shareholder and customer value, and is working to achieve them.」
The targets of an operating margin of at least 15% and a net profit margin of at least 10% were maintained, but the current-period operating margin was approximately 12.1% and the net income margin attributable to owners of the parent was approximately 9.0%, both below target. The company also explains that increased development costs for total-line projects reduced margins. - FY2018RaisedAnnual report
「Based on its basic management policy, the company has set targets of a sales operating margin of at least 15% and a net income margin attributable to owners of the parent of at least 10% as management indicators, in order to secure stable earnings over the long term and enhance corporate, shareholder and customer value, and is working to achieve them.」
While maintaining its existing 15% operating margin target, the company explicitly added a net income margin attributable to owners of the parent of at least 10% as a new management indicator. - FY2016First statedAnnual report
「The operating margin has not yet reached the target of 15%, but we regard the necessary upfront investment to achieve global leadership as worthwhile.」
The company has set a 15% operating margin target, but had not achieved it as of this filing, and characterizes the investment as upfront investment toward global leadership.