Worth reading
82Important
Scored from 4 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
12
¥100 million (year-on-year increase in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportSecond quarter of the fiscal year ending December 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,019 million+1.0%
Operating profit¥55 million+28.0%
Ordinary income¥52 million+37.1%
Net income¥31 100 million -5.1%interim net income attributable to owners of the parent
Gross Profit Margin31.5 %
Operating profit margin5.5 %
Selling, general and administrative expenses¥265 million
Full-year earnings forecast
Net Sales
¥1,800 million
Operating profit
¥60 million
Ordinary income
¥49 million
Profit attributable to owners of the parent
¥30 million
Operating profit margin
3.3 %
Year-end dividend
45 Yen per share
ROE
4 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit
Project Z effects¥16 million
Effects of price revisions in Japan and overseas¥12 million
Impact of higher purchase prices for raw materials and other items¥-10 million
Foreign Exchange Effects¥4 million
Increase in SG&A expenses and other factors¥-10 million
Interim net income
Increase in operating income¥12 million
Improvement in foreign exchange gains¥2 million
Absence of gains on sales of fixed assets¥-10 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Full-year average USD/JPY rate
¥153.4
Full-year average EUR/JPY rate
¥180.2
Assumed USD/JPY rate for the second half
¥150
Assumed EUR/JPY rate for the second half
¥175
New initiatives
- Capital investment and organizational preparations for the transfer of production and consolidation of production models for combines and hydraulic equipment
- Generating synergies by strengthening coordination among 3 European subsidiaries
- Developing new markets in ASEAN
- Launching the new JAPAN series of large tractors, combines and rice transplanters
Key KPIsA metric the company considers important as a management benchmark.
- Maintenance revenue ratio19.5 %Year on year against the same period last year+2.2%
- Overseas revenue ratio37.3 %Year on year against the same period last year+2.6%
- Large machinery sales ratioOver 40%
- D/E ratio0.84 timesYear on year against the same period last year-0.1%
- Equity ratio35.1 %Year on year against the same period last year+1.5%
Segment results
Domestic
Net Sales
¥639 million
Year-on-year (%)-2.9
Overseas expansion
Net Sales
¥380 million
Year-on-year (%)8.5
Europe
Net Sales
¥292 million
Year-on-year (%)16.1
North America
Net Sales
¥53 million
Year-on-year (%)-4.7
Asia
Net Sales
¥31 million
Year-on-year (%)-21.8
Medium-term management plan targets
2027 operating margin target
5 %
Project Z operating cash flow plan
¥500 100 million cumulative total for the four years from 2024 to 2027
Financial targets
ROE
Target value4 %
Debt-to-equity ratio
Actual value0.84 times
Equity ratio
Actual value35.1 %
Capital expenditures
¥88 100 million payments for the acquisition of tangible and intangible fixed assets, second-quarter results
Annual Dividend
Year-end dividend
45 Yen per share
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥1,019 million (YoY +1.0%) |
| Operating profit | ¥55 million (YoY +28.0%) |
| Ordinary income | ¥52 million (YoY +37.1%) |
| Net income | ¥31 100 million (interim net income attributable to owners of the parent) (YoY -5.1%) |
| Gross Profit Margin | 31.5 % |
| Operating profit margin | 5.5 % |
| Selling, general and administrative expenses | ¥265 million |
| Full-year earnings forecast | Net Sales ¥1,800 million / Operating profit ¥60 million / Ordinary income ¥49 million / Profit attributable to owners of the parent ¥30 million / Operating profit margin 3.3 % / Year-end dividend 45 Yen per share / ROE 4 % |
| Segment results | Domestic Net Sales ¥639 million / Year-on-year (%) -2.9 / Overseas expansion Net Sales ¥380 million / Year-on-year (%) 8.5 / Europe Net Sales ¥292 million / Year-on-year (%) 16.1 / North America Net Sales ¥53 million / Year-on-year (%) -4.7 / Asia Net Sales ¥31 million / Year-on-year (%) -21.8 |
| Breakdown of Factors Affecting the Change | Operating profit Project Z effects ¥16 million / Effects of price revisions in Japan and overseas ¥12 million / Impact of higher purchase prices for raw materials and other items ¥-10 million / Foreign Exchange Effects ¥4 million / Increase in SG&A expenses and other factors ¥-10 million / Interim net income Increase in operating income ¥12 million / Improvement in foreign exchange gains ¥2 million / Absence of gains on sales of fixed assets ¥-10 million |
| Key KPIs | Maintenance revenue ratio 19.5 %, Overseas revenue ratio 37.3 %, Large machinery sales ratio Over 40%, D/E ratio 0.84 times, Equity ratio 35.1 % |
| Assumptions Underlying the Business Outlook | Full-year average USD/JPY rate ¥153.4 / Full-year average EUR/JPY rate ¥180.2 / Assumed USD/JPY rate for the second half ¥150 / Assumed EUR/JPY rate for the second half ¥175 |
| Medium-term management plan targets | 2027 operating margin target 5 % / Project Z operating cash flow plan ¥500 100 million (cumulative total for the four years from 2024 to 2027) |
| Financial targets | ROE Target value 4 % / Actual value Not disclosed / Debt-to-equity ratio Target value Not disclosed / Actual value 0.84 times / Equity ratio Target value Not disclosed / Actual value 35.1 % |
| Annual Dividend | Annual dividend amount Not disclosed / Interim Dividend Not disclosed / Year-end dividend 45 Yen per share |
| Capital expenditures | ¥88 100 million (payments for the acquisition of tangible and intangible fixed assets, second-quarter results) |
| New initiatives | Capital investment and organizational preparations for the transfer of production and consolidation of production models for combines and hydraulic equipment, Generating synergies by strengthening coordination among 3 European subsidiaries, Developing new markets in ASEAN, Launching the new JAPAN series of large tractors, combines and rice transplanters |
Items this document does not state (12)
Results for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioAcquisition of treasury sharesOrders 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.Operating income increased due to the effects of Project Z and price revisions in Japan and overseas. Ordinary income increased as foreign exchange gains and losses improved. Interim net income declined due to the absence of gains on sales of fixed assets.
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.