Worth reading
63In 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
2.74
¥ billions (operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Summary of Q&AFirst 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¥118 million+42.5%
Operating profit¥2.74 million
Operating profit margin2.3 %
Results for the three months of the current quarter
Orders received
¥140 million+34.6%
Net Sales
¥118 million+42.5%
Operating profit
¥2.74 million
Full-year earnings forecast
Net Sales
¥550 million
Operating profit
¥38 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing as planned at the beginning of the fiscal yearKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
- Timing of the completion of AP legacy-price projects and the recognition of revenue from new-price projects
- Outlook for the AP overseas business and conditions in China and Thailand
- The margin difference between legacy-price projects and fairly priced projects was not disclosed
- The operating profit margin of the AP-related business is expected to be 7% for the current full fiscal year, while the figure for the next fiscal year has not been disclosed
- Delays in orders and revenue recognition for flood barriers
- Expansion of production capacity and coordination among group companies and overseas sites
- Shareholder return policy, dividend floor, and shareholder benefit program
- Investment in human resources and use of AI
- Status of the introduction of medium-temperature asphalt plants
- Financial management of cash and deposits and borrowings
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
The company explained the impact of revenue, the cost ratio, legacy-price projects in AP, and profitability pressure from overseas competition, but the amounts by factor could not be confirmed in the main text.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Timing of the completion of AP legacy-price projectsApproximately the second quarter
- Operating profit margin of the AP-related business7 %SubjectFull fiscal year ending March 2027
New initiatives
- Use of sponsored research reports
- Setting a ¥42 annual dividend floor for the fiscal years ending March 2027 and March 2028
- Redesigning the shareholder benefit program from 3 tiers to 7 tiers
- Launch of crusher-related products developed using domestic technology
- Strengthening production coordination among group companies and overseas sites
- Use of AI and investment in human capital
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥140 million+34.6%
- Order backlog
Segment results
AP-Related Business
Orders received
¥56 million+27.6%
Net Sales
¥41 million+33.8%
Segment profit
¥-1.79 million
Medium-term management plan targets
Annual dividend for the fiscal year ending March 2028
¥50 per share
PBR
1 times
Orders received and order backlog
Orders received
¥140 million
Annual Dividend
Fiscal year ending March 2027
¥42 per share
Fiscal year ending March 2028
Downside floor¥42 per share
Target¥50 per share
| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥118 million (YoY +42.5%) |
| Operating profit | ¥2.74 million |
| Operating profit margin | 2.3 % |
| Results for the three months of the current quarter | Orders received ¥140 million (YoY +34.6%) / Net Sales ¥118 million (YoY +42.5%) / Operating profit ¥2.74 million |
| Full-year earnings forecast | Net Sales ¥550 million / Operating profit ¥38 million |
| Self-assessment against the plan | Progressing as planned at the beginning of the fiscal year |
| Segment results | AP-Related Business Orders received ¥56 million (YoY +27.6%) / Net Sales ¥41 million (YoY +33.8%) / Segment profit ¥-1.79 million / BP-Related Business Not disclosed / Environmental and conveying-related business Not disclosed / Crushing equipment-related business Not disclosed / Contract manufacturing-related business Not disclosed |
| Breakdown of Factors Affecting the Change | The company explained the impact of revenue, the cost ratio, legacy-price projects in AP, and profitability pressure from overseas competition, but the amounts by factor could not be confirmed in the main text. |
| Key KPIs | Orders received ¥140 million (YoY +34.6%), Order backlog 非開示 |
| Assumptions Underlying the Business Outlook | Timing of the completion of AP legacy-price projects Approximately the second quarter, Operating profit margin of the AP-related business 7 % |
| Medium-term management plan targets | Annual dividend for the fiscal year ending March 2028 ¥50 per share / PBR 1 times |
| Annual Dividend | Fiscal year ending March 2027 ¥42 per share / Fiscal year ending March 2028 Downside floor ¥42 per share / Target ¥50 per share |
| Orders received and order backlog | Orders received ¥140 million / Order backlog Not disclosed |
| Key points of the Q&A | Timing of the completion of AP legacy-price projects and the recognition of revenue from new-price projects, Outlook for the AP overseas business and conditions in China and Thailand, The margin difference between legacy-price projects and fairly priced projects was not disclosed, The operating profit margin of the AP-related business is expected to be 7% for the current full fiscal year, while the figure for the next fiscal year has not been disclosed, Delays in orders and revenue recognition for flood barriers, Expansion of production capacity and coordination among group companies and overseas sites, Shareholder return policy, dividend floor, and shareholder benefit program, Investment in human resources and use of AI, Status of the introduction of medium-temperature asphalt plants, Financial management of cash and deposits and borrowings |
| New initiatives | Use of sponsored research reports, Setting a ¥42 annual dividend floor for the fiscal years ending March 2027 and March 2028, Redesigning the shareholder benefit program from 3 tiers to 7 tiers, Launch of crusher-related products developed using domestic technology, Strengthening production coordination among group companies and overseas sites, Use of AI and investment in human capital |
Items this document does not state (14)
Ordinary incomeNet incomeGross Profit MarginSelling, general and administrative expensesProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsPayout ratioAcquisition of treasury sharesCapital expendituresMarket Size / Share
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.Although revenue increased, the cost ratio rose as legacy-price projects were mixed into the AP-related business, while intense competition in the overseas business put pressure on profitability. Strong capital investment and maintenance demand drove performance in the BP-related business.
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.