Worth reading
64In 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
4234
¥ million (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationSecond quarter of the fiscal year ending December 202615 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥18,132 million+130.5%
Operating profit¥2,562 million+126.1%
Ordinary income¥2,848 million+143.4%
Net income¥2,555 million+170.8%
Gross Profit Margin34.1 %
Operating profit margin14.1 %
Selling, general and administrative expenses¥3,617 million
Full-year earnings forecast
Net Sales
¥36,050 million
Gross profit
¥11,820 million
Selling, general and administrative expenses
¥7,790 million
Operating profit
¥4,030 million
Ordinary income
¥4,460 million
Net income
¥3,870 million
EBITDA
¥5,260 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
In line with expectationsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Impact of higher revenue¥3,518 million
- Increase in manufacturing costs¥-2,847 million
- Increase in SG&A expenses¥-353 million
- Foreign Exchange Effects¥214 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Numerical assumptions for foreign exchange rates, raw material prices and interest rates, among other factors, were Not disclosed. The company referred to the possibility of higher raw material prices and supply instability due to the situation in the Middle East.New initiatives
- C-SAVE Green certified as machinery eligible for the investment promotion tax incentive
- Participation in the Fukuoka Future-Oriented Horticultural Agriculture Creation Consortium
- Participation in the Swiftfab battery manufacturing equipment project
- Establishment and joint investment in SwiftfabEnergySystems株式会社
- Establishment of 西部技研電池ラボ and plans for its launch
Key KPIsA metric the company considers important as a management benchmark.
- Orders received72.3% of the year-earlier period
- Order backlog85.7% of the previous fiscal year-end
- Number of VOC concentrator rotor replacements111.3 Year-on-year %
Segment results
By product
Desiccant dehumidifiers
¥12,996 million+188.7%
VOC concentrators
¥3,059 million+56.8%
Other
¥2,076 million+128.0%
By business
Core business (equipment and machinery)
¥9,842 million+103.4%
Growth business (total engineering)
¥8,289 million+189.3%
Medium-term management plan targets
Net Sales
¥36,000 million
Fiscal year2026
Operating profit margin
12 %
Fiscal year2026
EBITDA margin
15 %
Fiscal year2026
ROE
13 %
Fiscal year2026
Financial targets
Operating profit margin
Target12 %
Actual results and outlook11.2 %
EBITDA margin
Target15 %
Actual results and outlook14.6 %
ROE
Target13 %
Actual results and outlook11.8 %
Market Size / Share
A competing European manufacturer has the leading share in desiccant dehumidifiers, while the company ranks second. The company has the leading share globally in VOC concentrators and the leading share in Japan in total heat exchangers. Numerical market shares were Not disclosed.Number of stores and locations
4 domestic manufacturing sites and 6 overseas manufacturing sites. Number of openings and closures during the period: Not disclosedNumber of employees
Standalone415 people
Consolidated785 people
Record date31 December 2025
Capital expenditures
¥1,591 million FY2026 Q2
Full-year outlook5,150
Annual Dividend
¥70 per share
Breakdown
End of period70
Payout ratio
40 % or higher
Acquisition of treasury shares
Acquisition priceApproximately ¥1 billion
Number of shares acquiredApproximately 425,000 shares
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥18,132 million (YoY +130.5%) |
| Operating profit | ¥2,562 million (YoY +126.1%) |
| Ordinary income | ¥2,848 million (YoY +143.4%) |
| Net income | ¥2,555 million (YoY +170.8%) |
| Gross Profit Margin | 34.1 % |
| Operating profit margin | 14.1 % |
| Selling, general and administrative expenses | ¥3,617 million |
| Full-year earnings forecast | Net Sales ¥36,050 million / Gross profit ¥11,820 million / Selling, general and administrative expenses ¥7,790 million / Operating profit ¥4,030 million / Ordinary income ¥4,460 million / Net income ¥3,870 million / EBITDA ¥5,260 million |
| Self-assessment against the plan | In line with expectations |
| Segment results | By product Desiccant dehumidifiers ¥12,996 million (YoY +188.7%) / VOC concentrators ¥3,059 million (YoY +56.8%) / Other ¥2,076 million (YoY +128.0%) / By business Core business (equipment and machinery) ¥9,842 million (YoY +103.4%) / Growth business (total engineering) ¥8,289 million (YoY +189.3%) |
| Breakdown of Factors Affecting the Change | Factors Impact of higher revenue / Amount ¥3,518 million, Factors Increase in manufacturing costs / Amount ¥-2,847 million, Factors Increase in SG&A expenses / Amount ¥-353 million, Factors Foreign Exchange Effects / Amount ¥214 million |
| Key KPIs | Indicator name Orders received / Value 72.3% of the year-earlier period, Indicator name Order backlog / Value 85.7% of the previous fiscal year-end, Indicator name Number of VOC concentrator rotor replacements / Value 111.3 Year-on-year % |
| Number of stores and locations | 4 domestic manufacturing sites and 6 overseas manufacturing sites. Number of openings and closures during the period: Not disclosed |
| Number of employees | Standalone 415 people / Consolidated 785 people / Record date 31 December 2025 |
| Assumptions Underlying the Business Outlook | Numerical assumptions for foreign exchange rates, raw material prices and interest rates, among other factors, were Not disclosed. The company referred to the possibility of higher raw material prices and supply instability due to the situation in the Middle East. |
| Medium-term management plan targets | Net Sales ¥36,000 million / Operating profit margin 12 % / EBITDA margin 15 % / ROE 13 % |
| Financial targets | Operating profit margin Target 12 % / Actual results and outlook 11.2 % / EBITDA margin Target 15 % / Actual results and outlook 14.6 % / ROE Target 13 % / Actual results and outlook 11.8 % |
| Annual Dividend | ¥70 per share |
| Payout ratio | 40 % or higher |
| Acquisition of treasury shares | Acquisition price Approximately ¥1 billion / Number of shares acquired Approximately 425,000 shares / Period Not disclosed |
| Capital expenditures | ¥1,591 million (FY2026 Q2) |
| Market Size / Share | A competing European manufacturer has the leading share in desiccant dehumidifiers, while the company ranks second. The company has the leading share globally in VOC concentrators and the leading share in Japan in total heat exchangers. Numerical market shares were Not disclosed. |
| New initiatives | C-SAVE Green certified as machinery eligible for the investment promotion tax incentive, Participation in the Fukuoka Future-Oriented Horticultural Agriculture Creation Consortium, Participation in the Swiftfab battery manufacturing equipment project, Establishment and joint investment in SwiftfabEnergySystems株式会社, Establishment of 西部技研電池ラボ and plans for its launch |
Items this document does not state (6)
Results for the three months of the current quarterProgress against full-year forecastUnit price and quantity metricsRisk amount incorporated into the outlookOrders received and order backlogKey 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.A large total engineering project ordered in Japan in the previous fiscal year drove revenue. For operating profit, the increase in gross profit resulting from higher revenue more than offset the effects of a lower gross margin and higher SG&A expenses.
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.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.