Worth reading
53Recurring
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
19.1
Year-on-year change in consolidated net sales (%)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Briefing materials for use at the financial results briefing, centered on graphs and bullet pointsSecond quarter of the fiscal year ending August 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥14,094 million+19.1%
Operating profit¥1,473 million+11.3%
Ordinary income¥1,617 million+20.3%
Net income¥1,180 million+27.1%
Selling, general and administrative expenses¥3,752 million
Gross Profit Margin37.1%. No year-on-year change was provided.
Operating profit margin10.5%, down 0.7 percentage points from 11.2% in the year-earlier period.
Results for the three months of the current quarterRevenue was ¥6,531 million (+3.7% year on year), gross profit was ¥2,179 million (−12.1%), selling, general and administrative expenses were ¥1,854 million (+3.0%), operating income was ¥324 million (−52.1%), ordinary income was ¥361 million (−45.7%), and net income attributable to owners of the parent was ¥202 million (−64.1%).
Full-year earnings forecastRevenue of ¥27,800 million, operating income of ¥2,900 million, ordinary income of ¥3,050 million, net income attributable to owners of the parent of ¥2,200 million, and earnings per share of ¥86.73. The construction machinery business is projected to generate revenue of ¥19,627 million and operating income of ¥4,146 million, while the press-in construction business is projected to generate revenue of ¥9,229 million and operating income of ¥1,260 million.
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Factors driving first-half revenue growth included increased sales of standard machines and rentals of large special-purpose machines in Japan, higher product sales in Asia and Europe, and progress in disaster recovery and Eco Cycle installation projects, among others. Factors behind lower profit and margins included higher procurement prices for raw materials and parts, increased R&D and personnel costs, and a decline in high-value-added development projects. Amounts by factor were Not disclosed.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The materials cite weaker customer appetite for capital investment due to U.S. tariff policy, continued yen depreciation and delays in the start of disaster recovery projects as factors considered in the outlook, but the underlying assumptions were Not disclosed.New initiatives
Launch of the SX series, which advances autonomous driving; planned market launch this summer of an AI autonomous-driving DX application for the SX series; collaboration with a major Indian precast concrete manufacturer; test construction and pile-material development aimed at entering Thailand's concrete market; and expansion of GTOSS operations and growth investment overseas.Key KPIsA metric the company considers important as a management benchmark.
Overseas revenue was ¥2,418 million, or 17.2% of total revenue. GTOSS members comprised 6 companies in Europe, 10 in Asia and 3 in North America. The projected number of projects adopting the Gyropress method in the Hokuriku-Shinetsu region was 6 in the fiscal year ending August 2025, 29 in the fiscal year ending August 2026 and 35 in the fiscal year ending August 2027, as of March 2026.Unit price and quantity metricsThese figures show sales broken down by price and volume.
In the second quarter, unit sales in the construction machinery business increased, but product revenue declined due to a change in product mix. Specific figures for volume and unit prices were Not disclosed.Segment results
First half: The construction machinery business recorded revenue of ¥10,267 million (+22.4% year on year) and operating income of ¥2,147 million (+10.9%). The press-in construction business recorded revenue of ¥4,420 million (+17.3%) and operating income of ¥502 million (−0.7%). Second quarter alone: The construction machinery business recorded revenue of ¥4,369 million (−3.0%) and operating income of ¥682 million (−35.9%). The press-in construction business recorded revenue of ¥2,371 million (+20.9%) and operating income of ¥303 million (+50.6%).Medium-term management plan targets
The targets of Medium-Term Management Plan 2027 are consolidated revenue of ¥30.0-33.0 billion, consolidated operating income of at least ¥3.2 billion, overseas revenue of at least ¥7.5 billion and an overseas revenue ratio of at least 25%. The target year is FY2027. The FY2026 forecast calls for consolidated revenue of ¥27.8 billion, consolidated operating income of ¥2.9 billion and overseas revenue of ¥5.20 billion.Annual Dividend
Annual dividend of ¥54 per share, comprising an interim dividend of ¥27 and a year-end dividend of ¥27.Payout ratio
62.3% (FY2026 forecast). The dividend policy targets a payout ratio of 40% and sets DOE of 3.5% as the floor.Acquisition of treasury shares
The company refers to a policy of conducting flexible share buybacks, but the amount, number of shares and period of the buyback authorization were Not disclosed.| Item | Details |
|---|---|
| Document type | Briefing materials for use at the financial results briefing, centered on graphs and bullet points |
| Fiscal Period Covered | Second quarter of the fiscal year ending August 2026 |
| Net Sales | ¥14,094 million (YoY +19.1%) |
| Operating profit | ¥1,473 million (YoY +11.3%) |
| Ordinary income | ¥1,617 million (YoY +20.3%) |
| Net income | ¥1,180 million (YoY +27.1%) |
| Gross Profit Margin | 37.1%. No year-on-year change was provided. |
| Operating profit margin | 10.5%, down 0.7 percentage points from 11.2% in the year-earlier period. |
| Selling, general and administrative expenses | ¥3,752 million |
| Results for the three months of the current quarter | Revenue was ¥6,531 million (+3.7% year on year), gross profit was ¥2,179 million (−12.1%), selling, general and administrative expenses were ¥1,854 million (+3.0%), operating income was ¥324 million (−52.1%), ordinary income was ¥361 million (−45.7%), and net income attributable to owners of the parent was ¥202 million (−64.1%). |
| Full-year earnings forecast | Revenue of ¥27,800 million, operating income of ¥2,900 million, ordinary income of ¥3,050 million, net income attributable to owners of the parent of ¥2,200 million, and earnings per share of ¥86.73. The construction machinery business is projected to generate revenue of ¥19,627 million and operating income of ¥4,146 million, while the press-in construction business is projected to generate revenue of ¥9,229 million and operating income of ¥1,260 million. |
| Segment results | First half: The construction machinery business recorded revenue of ¥10,267 million (+22.4% year on year) and operating income of ¥2,147 million (+10.9%). The press-in construction business recorded revenue of ¥4,420 million (+17.3%) and operating income of ¥502 million (−0.7%). Second quarter alone: The construction machinery business recorded revenue of ¥4,369 million (−3.0%) and operating income of ¥682 million (−35.9%). The press-in construction business recorded revenue of ¥2,371 million (+20.9%) and operating income of ¥303 million (+50.6%). |
| Breakdown of Factors Affecting the Change | Factors driving first-half revenue growth included increased sales of standard machines and rentals of large special-purpose machines in Japan, higher product sales in Asia and Europe, and progress in disaster recovery and Eco Cycle installation projects, among others. Factors behind lower profit and margins included higher procurement prices for raw materials and parts, increased R&D and personnel costs, and a decline in high-value-added development projects. Amounts by factor were Not disclosed. |
| Key KPIs | Overseas revenue was ¥2,418 million, or 17.2% of total revenue. GTOSS members comprised 6 companies in Europe, 10 in Asia and 3 in North America. The projected number of projects adopting the Gyropress method in the Hokuriku-Shinetsu region was 6 in the fiscal year ending August 2025, 29 in the fiscal year ending August 2026 and 35 in the fiscal year ending August 2027, as of March 2026. |
| Unit price and quantity metrics | In the second quarter, unit sales in the construction machinery business increased, but product revenue declined due to a change in product mix. Specific figures for volume and unit prices were Not disclosed. |
| Assumptions Underlying the Business Outlook | The materials cite weaker customer appetite for capital investment due to U.S. tariff policy, continued yen depreciation and delays in the start of disaster recovery projects as factors considered in the outlook, but the underlying assumptions were Not disclosed. |
| Medium-term management plan targets | The targets of Medium-Term Management Plan 2027 are consolidated revenue of ¥30.0-33.0 billion, consolidated operating income of at least ¥3.2 billion, overseas revenue of at least ¥7.5 billion and an overseas revenue ratio of at least 25%. The target year is FY2027. The FY2026 forecast calls for consolidated revenue of ¥27.8 billion, consolidated operating income of ¥2.9 billion and overseas revenue of ¥5.20 billion. |
| Annual Dividend | Annual dividend of ¥54 per share, comprising an interim dividend of ¥27 and a year-end dividend of ¥27. |
| Payout ratio | 62.3% (FY2026 forecast). The dividend policy targets a payout ratio of 40% and sets DOE of 3.5% as the floor. |
| Acquisition of treasury shares | The company refers to a policy of conducting flexible share buybacks, but the amount, number of shares and period of the buyback authorization were Not disclosed. |
| New initiatives | Launch of the SX series, which advances autonomous driving; planned market launch this summer of an AI autonomous-driving DX application for the SX series; collaboration with a major Indian precast concrete manufacturer; test construction and pile-material development aimed at entering Thailand's concrete market; and expansion of GTOSS operations and growth investment overseas. |
Items this document does not state (10)
Progress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsCapital expendituresOrders received and order backlogMarket Size / ShareKey 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 first half, sales of standard machines and rentals of large special-purpose machines increased in Japan, while overseas product sales rose mainly in Asia and Europe. In the press-in construction business, disaster recovery projects and Eco Cycle installation projects, among others, progressed. Factors weighing on profit included higher procurement prices for raw materials and parts, increased selling, general and administrative expenses such as R&D and personnel costs, and a decline in high-value-added development projects in the press-in construction business.
How to read this page
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