Worth reading
60In 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
102
¥100 million (year-on-year increase in net income attributable to owners of the parent)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFiscal year ending March 2026, full year12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales1,490 Hundreds of millions of yen+7.0%
Operating profit98 Hundreds of millions of yen+10.1%
Net income169 Hundreds of millions of yen+152.2%
Operating profit margin6.6 %
Full-year earnings forecast
Fiscal year ending March 2027
Orders received
1,900 Hundreds of millions of yen
Order backlog
3,615 Hundreds of millions of yen
Net Sales
1,520 Hundreds of millions of yen
Operating profit
110 Hundreds of millions of yen
Operating profit margin
7.2 %
Profit attributable to owners of the parent
85 Hundreds of millions of yen
EBITDA
146 Hundreds of millions of yen
ROIC
Approximately 7%
ROE
Mid-8% range
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
Revenue effect11
Profit margin effect11
Selling, general and administrative expenses-7
Other-6
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Share of revenue from projects already receivedApproximately 60%
- Revenue base, including after-sales services and operations managementApproximately 80%
New initiatives
- Newly open centralized monitoring centers for water supply and sewage facilities
- Acquire an operations management company for water treatment and wastewater treatment facilities
- Promote the sale of strategic shareholdings
- Continue discussions on integrating with JFE Engineering's steel water pipeline business
Key KPIsA metric the company considers important as a management benchmark.
- Orders received1,542 Hundreds of millions of yenyoy_change-280
- Order backlog3,235 Hundreds of millions of yenyoy_change52
- EBITDA135 Hundreds of millions of yenyoy_change8
- ROIC6 %yoy_change_point0.8
- ROE17.7 %yoy_change_point10.3
Segment results
Water Environment
Orders received
936 Hundreds of millions of yen
yoy_change-433
Net Sales
986 Hundreds of millions of yen
yoy_change59
Operating profit
58 Hundreds of millions of yen
yoy_change-3
Industry
Orders received
600 Hundreds of millions of yen
yoy_change161
Net Sales
497 Hundreds of millions of yen
yoy_change45
Operating profit
41 Hundreds of millions of yen
yoy_change20
Medium-term management plan targets
Sale of strategic shareholdingsAt least ¥12 billion during the medium-term plan period
Actual results¥9.3 billion over 3 years
Financial targets
ROIC
Actual results6.0%
Forecast for the fiscal year ending March 2027Approximately 7%
ROE
Actual results17.7%
Forecast for the fiscal year ending March 2027Mid-8% range
Orders received and order backlog
Orders received
1,542 Hundreds of millions of yen
Order backlog
3,235 Hundreds of millions of yen
Capital expenditures
¥8 billion–¥10 billion
Annual Dividend
Fiscal year ending March 2026
¥85 per share
BreakdownOrdinary dividend: ¥83; commemorative dividend: ¥2
Fiscal year ending March 2027
¥88 per share
BreakdownScheduled
Payout ratio
Total payout ratio96.3% for the fiscal year ending March 2026; 55.0% for the fiscal year ending March 2027 (planned)
DOE3.5% for the fiscal year ending March 2026
Acquisition of treasury shares
128 Hundreds of millions of yen
Number of SharesApproximately 4.3 million shares
PeriodFiscal year ending March 2026
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | 1,490 Hundreds of millions of yen (YoY +7.0%) |
| Operating profit | 98 Hundreds of millions of yen (YoY +10.1%) |
| Net income | 169 Hundreds of millions of yen (YoY +152.2%) |
| Operating profit margin | 6.6 % |
| Full-year earnings forecast | Subject Fiscal year ending March 2027 / Orders received 1,900 Hundreds of millions of yen / Order backlog 3,615 Hundreds of millions of yen / Net Sales 1,520 Hundreds of millions of yen / Operating profit 110 Hundreds of millions of yen / Operating profit margin 7.2 % / Profit attributable to owners of the parent 85 Hundreds of millions of yen / EBITDA 146 Hundreds of millions of yen / ROIC Approximately 7% / ROE Mid-8% range |
| Segment results | Water Environment Orders received 936 Hundreds of millions of yen / Net Sales 986 Hundreds of millions of yen / Operating profit 58 Hundreds of millions of yen / Industry Orders received 600 Hundreds of millions of yen / Net Sales 497 Hundreds of millions of yen / Operating profit 41 Hundreds of millions of yen |
| Breakdown of Factors Affecting the Change | Operating profit Revenue effect 11 / Profit margin effect 11 / Selling, general and administrative expenses -7 / Other -6 |
| Key KPIs | Orders received 1,542 Hundreds of millions of yen, Order backlog 3,235 Hundreds of millions of yen, EBITDA 135 Hundreds of millions of yen, ROIC 6 %, ROE 17.7 % |
| Assumptions Underlying the Business Outlook | Share of revenue from projects already received Approximately 60%, Revenue base, including after-sales services and operations management Approximately 80% |
| Medium-term management plan targets | Sale of strategic shareholdings At least ¥12 billion during the medium-term plan period / Actual results ¥9.3 billion over 3 years |
| Financial targets | ROIC Actual results 6.0% / Forecast for the fiscal year ending March 2027 Approximately 7% / ROE Actual results 17.7% / Forecast for the fiscal year ending March 2027 Mid-8% range |
| Annual Dividend | Fiscal year ending March 2026 ¥85 per share / Fiscal year ending March 2027 ¥88 per share |
| Payout ratio | Total payout ratio 96.3% for the fiscal year ending March 2026; 55.0% for the fiscal year ending March 2027 (planned) / DOE 3.5% for the fiscal year ending March 2026 |
| Acquisition of treasury shares | Amount 128 Hundreds of millions of yen / Number of Shares Approximately 4.3 million shares / Period Fiscal year ending March 2026 |
| Capital expenditures | ¥8 billion–¥10 billion |
| Orders received and order backlog | Orders received 1,542 Hundreds of millions of yen / Order backlog 3,235 Hundreds of millions of yen |
| New initiatives | Newly open centralized monitoring centers for water supply and sewage facilities, Acquire an operations management company for water treatment and wastewater treatment facilities, Promote the sale of strategic shareholdings, Continue discussions on integrating with JFE Engineering's steel water pipeline business |
Items this document does not state (12)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesResults 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 outlookMarket 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.Revenue for the fiscal year ending March 2026 increased due to progress on projects in both businesses. Operating profit increased due to improved profitability and the effect of higher revenue in the Industrial business, while net income increased due to gains on the sale of logistics facilities and strategic shareholdings. Order intake was affected by a lull between large projects in the Water Environment business. For the fiscal year ending March 2027, higher revenue and profit are expected due to large projects in the Water Environment business and progress on projects already received, while net income is expected to decline due to the absence of the gain on the sale of logistics facilities recorded in the previous fiscal year.
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.