Worth reading
66In 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
100
¥10 billion (amount of upward revision to full-year order intake forecast)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationSecond quarter of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥578 100 million+2.1%
Operating profit¥12 100 million-25.0%
Net income¥29 100 million-75.4%
Operating profit margin2.1 %
Full-year earnings forecast
Orders received
¥2,000 100 million
Order backlog
¥3,715 100 million
Net Sales
¥1,520 100 million
Operating profit
¥110 100 million
Profit attributable to owners of the parent
¥85 100 million
EBITDA
¥146 100 million
ROIC
7 Approximately %
ROE
Mid-8% range
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Orders received41.7%
Net Sales38.0%
Operating profit10.9%
Profit attributable to owners of the parent34.1%
EBITDA20.5%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Business performance is progressing smoothlyBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit
Sales impact+¥200 million
Profit margin effect+¥200 million
Selling, general and administrative expenses¥0
Other-¥300 million
Factors behind lower profitApproximately ¥400 million in costs related to the business integration with Mitsubishi Kakoki Kaisha, lower income due to the sale of logistics facilities, and the absence of the reversal of the allowance for doubtful accounts recorded in the previous fiscal year
New initiatives
- Business integration with Mitsubishi Kakoki Kaisha
- Consideration of treasury share acquisitions by the integrated company
- Discussions on more proactive shareholder returns by the integrated company
- Consideration of introducing a shareholder benefit program at the integrated company
- Disclosure of aspiration figures for integration synergies for FY2031
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥833 100 millionYear on year against the same period last year+¥13.5 billion
- Order backlog¥3,490 100 millionYear on year against the same period last year+¥17.5 billion
- After-sales ratio (Water Environment)24 %
- After-sales ratio (Industrial)13 %
Segment results
Water Environment
Orders received
¥636 100 million
yoy_change194
Net Sales
¥376 100 million
yoy_change19
Operating profit
¥4 100 million
yoy_change4
Industry
Orders received
¥197 100 million
yoy_change-54
Net Sales
¥202 100 million
yoy_change-1
Operating profit
¥12 100 million
yoy_change-2
Medium-term management plan targets
Combined company, fiscal year ending March 2036
Net Sales¥350 billion
Operating profit¥30 billion or more
Integration synergies, FY2031
Revenue synergies¥25 billion (50% progress)
Operating profit synergies¥5.8 billion (72% synergy progress)
Corporate cost reduction¥2.2 billion (100% progress)
Financial targets
ROICApproximately 7% (forecast for the fiscal year ending March 2027)
ROEMid-8% range (forecast for the fiscal year ending March 2027)
DOE3.5% floor
Orders received and order backlog
Orders received
¥833 100 million
Order backlog
¥3,490 100 million
Annual Dividend
Annual¥93 per share (planned)
End of period¥88 per share + ¥5 per share commemorative dividend
Payout ratio
Total payout ratio50% or more
DOE3.5% floor
Acquisition of treasury shares
Repurchase authorization amount¥3 billion (maximum total acquisition amount)
Number of shares under the buyback program1 million shares (maximum number of shares to be acquired)
Period5 October 2026–19 March 2027
Additional acquisition after integrationUnder consideration: additional acquisitions totaling approximately ¥25 billion
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥578 100 million (YoY +2.1%) |
| Operating profit | ¥12 100 million (YoY -25.0%) |
| Net income | ¥29 100 million (YoY -75.4%) |
| Operating profit margin | 2.1 % |
| Full-year earnings forecast | Orders received ¥2,000 100 million / Order backlog ¥3,715 100 million / Net Sales ¥1,520 100 million / Operating profit ¥110 100 million / Profit attributable to owners of the parent ¥85 100 million / EBITDA ¥146 100 million / ROIC 7 Approximately % / ROE Mid-8% range |
| Progress against full-year forecast | Orders received 41.7% / Net Sales 38.0% / Operating profit 10.9% / Profit attributable to owners of the parent 34.1% / EBITDA 20.5% |
| Self-assessment against the plan | Business performance is progressing smoothly |
| Segment results | Water Environment Orders received ¥636 100 million / Net Sales ¥376 100 million / Operating profit ¥4 100 million / Industry Orders received ¥197 100 million / Net Sales ¥202 100 million / Operating profit ¥12 100 million |
| Breakdown of Factors Affecting the Change | Operating profit Sales impact +¥200 million / Profit margin effect +¥200 million / Selling, general and administrative expenses ¥0 / Other -¥300 million / Factors behind lower profit Approximately ¥400 million in costs related to the business integration with Mitsubishi Kakoki Kaisha, lower income due to the sale of logistics facilities, and the absence of the reversal of the allowance for doubtful accounts recorded in the previous fiscal year |
| Key KPIs | Orders received ¥833 100 million, Order backlog ¥3,490 100 million, After-sales ratio (Water Environment) 24 %, After-sales ratio (Industrial) 13 % |
| Medium-term management plan targets | Combined company, fiscal year ending March 2036 Net Sales ¥350 billion / Operating profit ¥30 billion or more / Integration synergies, FY2031 Revenue synergies ¥25 billion (50% progress) / Operating profit synergies ¥5.8 billion (72% synergy progress) / Corporate cost reduction ¥2.2 billion (100% progress) |
| Financial targets | ROIC Approximately 7% (forecast for the fiscal year ending March 2027) / ROE Mid-8% range (forecast for the fiscal year ending March 2027) / DOE 3.5% floor |
| Annual Dividend | Annual ¥93 per share (planned) / Interim Not disclosed / End of period ¥88 per share + ¥5 per share commemorative dividend |
| Payout ratio | Total payout ratio 50% or more / DOE 3.5% floor |
| Acquisition of treasury shares | Repurchase authorization amount ¥3 billion (maximum total acquisition amount) / Number of shares under the buyback program 1 million shares (maximum number of shares to be acquired) / Period 5 October 2026–19 March 2027 / Additional acquisition after integration Under consideration: additional acquisitions totaling approximately ¥25 billion |
| Orders received and order backlog | Orders received ¥833 100 million / Order backlog ¥3,490 100 million |
| New initiatives | Business integration with Mitsubishi Kakoki Kaisha, Consideration of treasury share acquisitions by the integrated company, Discussions on more proactive shareholder returns by the integrated company, Consideration of introducing a shareholder benefit program at the integrated company, Disclosure of aspiration figures for integration synergies for FY2031 |
Items this document does not state (12)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookCapital expendituresMarket 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.Order intake increased due to the acquisition of a large project in the Water Environment business. Although the effects of higher revenue and improved profitability supported operating profit, profit declined due to approximately ¥400 million in costs related to the business integration with Mitsubishi Kakoki Kaisha, lower real estate rental income following the sale of logistics facilities in the previous fiscal year, and other factors. Interim net profit declined due to the absence of the gain on the sale of fixed assets arising from the sale of logistics facilities 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.