Worth reading
78Important
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
33
¥ million (year-on-year decrease in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond 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¥11,282 million+9.7%
Operating profit¥1,338 million-2.5%
Ordinary income¥1,328 million-1.6%
Net income¥988 million+8.7%
Operating profit margin11.9 %
Results for the three months of the current quarter
Net Sales
¥5,877 million+13.2%
Operating profit
¥851 million+19.5%
Ordinary income
¥848 million+20.7%
Quarterly net income
¥651 million+32.4%
Full-year earnings forecast
Net Sales
¥22,560 million
Operating profit
¥2,825 million
Ordinary income
¥2,775 million
Net income for the current fiscal year
¥2,005 million
EPS
28.71 yen
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
Line products415
Replacement parts83
Industrial filters-13
Process filters-6
Appropriate pricing adjustments54
Air filters98
Functional Materials0
Foreign Exchange Effects361
Operating profit
Increase in construction equipment revenue118
Optimization of construction equipment sales prices54
Advancing PAC2699
Soaring raw material and other costs-204
Increase in labor costs (base pay increases, etc.)-152
Foreign Exchange Effects53
Launch of new functional materials business-198
Increase in air filter sales74
Other121
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
USD
155 Yen assumed average for the period
EUR
180 Yen assumed average for the period
New initiatives
- Strengthen the direct sales structure in the air filter business
- Begin supplying products to domestic luxury brands in the functional materials business
- Joint research with Shinshu University underway
- Product development with ミツフジ underway
- Review the supply chain and build up raw material and product inventories
Key KPIsA metric the company considers important as a management benchmark.
- North American market share25.2 %
- High-value-added product ratio28 %
- ROIC8 %
- WACC7.6 %
- MAVY'S0.4 %
- FTSE score3.7
- CDP Climate Change scoreA
Segment results
Construction machinery filters
Net Sales
¥10,097 million
Revenue_yoy_pct9.7
Operating profit
¥1,563 million
Operating profit_yoy_pct6.2
Air filters
Net Sales
¥1,184 million
Revenue_yoy_pct9.1
Operating profit
¥-26 million
Operating income_yoy¥74 million improvement year on year
Functional Materials
Net Sales
¥0 million
Operating profit
¥-198 million
Medium-term management plan targets
North American market share
25.2 %
Target fiscal year+1.7 percentage points compared with the outlook for the fiscal year ending March 2028
High-value-added product ratio
28 %
Target fiscal year+12 percentage points compared with the outlook for the fiscal year ending March 2027
FTSE score
4 or more
Target fiscal yearFiscal year ending March 2028
CDP Climate Change score
A
Target fiscal yearFiscal year ending March 2028
Financial targets
ROIC
8 %
ROE
8.8 %
WACC
7.6 %
Market Size / Share
North American market share
25.2 %
Orders received and order backlog
Confirmed order backlog reached a record high for the third consecutive quarter (amount: Not disclosed)Payout ratio
69.7 %
DOE
6.1 %
Total payout ratio
97.5 %
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥11,282 million (YoY +9.7%) |
| Operating profit | ¥1,338 million (YoY -2.5%) |
| Ordinary income | ¥1,328 million (YoY -1.6%) |
| Net income | ¥988 million (YoY +8.7%) |
| Operating profit margin | 11.9 % |
| Results for the three months of the current quarter | Net Sales ¥5,877 million (YoY +13.2%) / Operating profit ¥851 million (YoY +19.5%) / Ordinary income ¥848 million (YoY +20.7%) / Quarterly net income ¥651 million (YoY +32.4%) |
| Full-year earnings forecast | Net Sales ¥22,560 million / Operating profit ¥2,825 million / Ordinary income ¥2,775 million / Net income for the current fiscal year ¥2,005 million / EPS 28.71 yen |
| Segment results | Construction machinery filters Net Sales ¥10,097 million / Revenue_yoy_pct 9.7 / Operating profit ¥1,563 million / Operating profit_yoy_pct 6.2 / Air filters Net Sales ¥1,184 million / Revenue_yoy_pct 9.1 / Operating profit ¥-26 million / Operating income_yoy ¥74 million improvement year on year / Functional Materials Net Sales ¥0 million / Operating profit ¥-198 million |
| Breakdown of Factors Affecting the Change | Net Sales Line products 415 / Replacement parts 83 / Industrial filters -13 / Process filters -6 / Appropriate pricing adjustments 54 / Air filters 98 / Functional Materials 0 / Foreign Exchange Effects 361 / Operating profit Increase in construction equipment revenue 118 / Optimization of construction equipment sales prices 54 / Advancing PAC26 99 / Soaring raw material and other costs -204 / Increase in labor costs (base pay increases, etc.) -152 / Foreign Exchange Effects 53 / Launch of new functional materials business -198 / Increase in air filter sales 74 / Other 121 |
| Key KPIs | Indicator name North American market share / Value 25.2 % / Year on year against the same period last year Not disclosed, Indicator name High-value-added product ratio / Value 28 % / Year on year against the same period last year Not disclosed, Indicator name ROIC / Value 8 % / Year on year against the same period last year Not disclosed, Indicator name WACC / Value 7.6 % / Year on year against the same period last year Not disclosed, Indicator name MAVY'S / Value 0.4 % / Year on year against the same period last year Not disclosed, Indicator name FTSE score / Value 3.7 / Year on year against the same period last year Not disclosed, Indicator name CDP Climate Change score / Value A / Year on year against the same period last year Not disclosed |
| Assumptions Underlying the Business Outlook | USD 155 Yen (assumed average for the period) / EUR 180 Yen (assumed average for the period) |
| Medium-term management plan targets | North American market share 25.2 % / High-value-added product ratio 28 % / FTSE score 4 or more / CDP Climate Change score A |
| Financial targets | ROIC 8 % / ROE 8.8 % / WACC 7.6 % |
| Payout ratio | 69.7 % |
| Orders received and order backlog | Confirmed order backlog reached a record high for the third consecutive quarter (amount: Not disclosed) |
| Market Size / Share | North American market share 25.2 % |
| New initiatives | Strengthen the direct sales structure in the air filter business, Begin supplying products to domestic luxury brands in the functional materials business, Joint research with Shinshu University underway, Product development with ミツフジ underway, Review the supply chain and build up raw material and product inventories |
Items this document does not state (12)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAnnual DividendAcquisition of treasury sharesCapital expendituresKey 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.In the construction equipment filter business, the recovery in North American AI data center demand, demand for new vehicles and replacement parts, market share gains, the introduction of high-value-added products, and appropriate sales price revisions contributed to higher revenue and profit. Conversely, soaring raw material and other costs amid the situation in the Middle East, higher personnel costs, and upfront investment associated with launching the functional materials business reduced profit.
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.