Worth reading
62In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
20.2
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Third quarter1 January 2026 to 30 September 2026ConsolidatedIFRSNet Sales745,937Millions of yenYear on year +12.4%Progress 70.8%
Operating profit83,597Millions of yenYear on year +20.2%Progress 66.9%
Ordinary income101,364Millions of yenYear on year +53.1%Progress 71.4%
Net income attributable to owners of the parent71,476Millions of yenYear on year +60.0%Progress 71.8%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥156.67
Operating Margin11.2
Financial position at period-end
Total assets1,120,470Millions of yen
of which net assets 556,379 Millions of yenEquity ratio 48.6%vs. prior year-end +1.6pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+98,441
Investment-35,473
Financials-49,083
Net change+13,885
Stacked from zero: upward is an increase in cash, downward a decrease (in Millions of yen).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period158,272 Millions of yen
Segment revenue
Precision & Electronics293,56939.4%+31.5%
Energy144,86719.4%-9.1%
Buildings & Industry194,96026.2%+12.4%
Infrastructure43,7815.9%+4.9%
Environment68,0119.1%+4.9%
Segment profit
Precision & Electronics58,19367.2%+77.0%
Energy1,4111.6%-91.7%
Buildings & Industry13,15515.2%+24.1%
Infrastructure4,7465.5%+29.4%
Environment9,03610.4%+24.2%
Regional salesBy location Japan ¥3,761 100 million / North America ¥1,258 100 million / Asia (excluding Japan) ¥1,814 100 million / Other ¥625 100 million / Regional breakdown Japan ¥2,395 100 million / China ¥1,243 100 million / Taiwan, South Korea and Other Asia ¥1,863 100 million / North America ¥868 100 million / Europe ¥514 100 million / Middle East ¥285 100 million / Other ¥288 100 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales1,053,000 Millions of yen (YoY +9.9%)
Operating profit125,000 Millions of yen (YoY +9.8%)
Ordinary income142,000 Millions of yen (YoY +28.0%)
Net income99,500 Millions of yen (YoY +29.8%)
Revision to Earnings ForecastOrders received ¥12,450 100 million → ¥12,950 100 million（+4.0%） / Net Sales ¥10,530 100 million → ¥10,530 100 million / Operating profit ¥1,250 100 million → ¥1,250 100 million / Ordinary income ¥1,420 100 million → ¥1,420 100 million / Net income ¥995 100 million → ¥995 100 million / Segment profit breakdown Precision & Electronics ¥770 100 million → ¥790 100 million / Energy ¥180 100 million → ¥130 100 million / Buildings & Industry ¥190 100 million → ¥190 100 million / Infrastructure ¥55 100 million → ¥60 100 million / Environment ¥130 100 million → ¥135 100 million / Other ¥-75 100 million → ¥-55 100 million
Annual Dividend Forecast59 Yen → 66 Yen
Factors Behind Changes in Business Performance
In Precision & Electronics, customer factory utilization rates continued to rise and investment to expand production continued, driven by demand for AI-related products, while Construction & Industrial, Environment and other segments also remained firm. In addition to the other segments offsetting the decline in revenue and profit in Energy, the company recorded ¥3.4 billion in financial income and ¥17.2 billion in gains on the sale of investments in connection with the transfer of shares in 水ing.
Disclosure regarding the going concern assumption
No applicable items
Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 Not disclosed
Changes in the scope of consolidationNew 0 / Excluded 0 / Company name None
Material subsequent eventsOn 28 October 2026, the company issued the 14th series of unsecured straight bonds with a total value of ¥20 billion. In addition, at a meeting of the Board of Directors held on 13 November 2026, the company resolved to repurchase up to 1.7 million shares for a maximum of ¥5 billion.
Impairment loss18 Millions of yen
Breakdown of extraordinary income (loss)Extraordinary income Not disclosed / Extraordinary loss Not disclosed / Significant one-off items Item Gain on sale of investments accounted for under the equity method / Amount 17,225 Millions of yen
Depreciation and amortization30,939 Millions of yen
Orders received and order backlogOrders received 979,050 Millions of yen / Order backlog ¥11,389 100 million
Availability of Supplementary Financial Results MaterialsAvailable
Availability of Financial Results BriefingYes (for securities analysts and institutional investors)
Issued Shares at Period-End457,449,185
Treasury Shares at Period-End2,051,665
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026 to 30 September 2026 |
| Net Sales | 745,937 Millions of yen (YoY +12.4%) |
| Operating profit | 83,597 Millions of yen (YoY +20.2%) |
| Ordinary income | 101,364 Millions of yen (YoY +53.1%) |
| Profit attributable to owners of the parent | 71,476 Millions of yen (YoY +60.0%) |
| Net income per share | ¥156.67 |
| Operating Margin | 11.2 |
| Equity ratio | End of the current fiscal period 48.6 / End of previous period 47 |
| Total assets | 1,120,470 Millions of yen |
| Net assets | 556,379 Millions of yen |
| Cash flows from operating activities | 98,441 Millions of yen |
| Cash flows from investing activities | -35,473 Millions of yen |
| Cash flows from financing activities | -49,083 Millions of yen |
| Cash and cash equivalents at end of period | 158,272 Millions of yen |
| Full-year earnings forecast | Net Sales 1,053,000 Millions of yen (YoY +9.9%) / Operating profit 125,000 Millions of yen (YoY +9.8%) / Ordinary income 142,000 Millions of yen (YoY +28.0%) / Net income 99,500 Millions of yen (YoY +29.8%) |
| Revision to Earnings Forecast | Orders received ¥12,450 100 million → ¥12,950 100 million（+4.0%） / Net Sales ¥10,530 100 million → ¥10,530 100 million / Operating profit ¥1,250 100 million → ¥1,250 100 million / Ordinary income ¥1,420 100 million → ¥1,420 100 million / Net income ¥995 100 million → ¥995 100 million / Segment profit breakdown Precision & Electronics ¥770 100 million → ¥790 100 million / Energy ¥180 100 million → ¥130 100 million / Buildings & Industry ¥190 100 million → ¥190 100 million / Infrastructure ¥55 100 million → ¥60 100 million / Environment ¥130 100 million → ¥135 100 million / Other ¥-75 100 million → ¥-55 100 million |
| Annual Dividend Forecast | 59 Yen → 66 Yen |
| Segment revenue | Precision & Electronics 293,569 Millions of yen (YoY +31.5%) / Energy 144,867 Millions of yen (YoY -9.1%) / Buildings & Industry 194,960 Millions of yen (YoY +12.4%) / Infrastructure 43,781 Millions of yen (YoY +4.9%) / Environment 68,011 Millions of yen (YoY +4.9%) |
| Segment profit | Precision & Electronics 58,193 Millions of yen (YoY +77.0%) / Energy 1,411 Millions of yen (YoY -91.7%) / Buildings & Industry 13,155 Millions of yen (YoY +24.1%) / Infrastructure 4,746 Millions of yen (YoY +29.4%) / Environment 9,036 Millions of yen (YoY +24.2%) |
| Regional sales | By location Japan ¥3,761 100 million / North America ¥1,258 100 million / Asia (excluding Japan) ¥1,814 100 million / Other ¥625 100 million / Regional breakdown Japan ¥2,395 100 million / China ¥1,243 100 million / Taiwan, South Korea and Other Asia ¥1,863 100 million / North America ¥868 100 million / Europe ¥514 100 million / Middle East ¥285 100 million / Other ¥288 100 million |
| Orders received and order backlog | Orders received 979,050 Millions of yen / Order backlog ¥11,389 100 million |
| Depreciation and amortization | 30,939 Millions of yen |
| Impairment loss | 18 Millions of yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Not disclosed / Extraordinary loss Not disclosed / Significant one-off items Item Gain on sale of investments accounted for under the equity method / Amount 17,225 Millions of yen |
| Disclosure regarding the going concern assumption | No applicable items |
| Change in accounting policy | Changes due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement Not disclosed |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Company name None |
| Material subsequent events | On 28 October 2026, the company issued the 14th series of unsecured straight bonds with a total value of ¥20 billion. In addition, at a meeting of the Board of Directors held on 13 November 2026, the company resolved to repurchase up to 1.7 million shares for a maximum of ¥5 billion. |
| Availability of Supplementary Financial Results Materials | Available |
| Availability of Financial Results Briefing | Yes (for securities analysts and institutional investors) |
| Issued Shares at Period-End | 457,449,185 |
| Treasury Shares at Period-End | 2,051,665 |
| Factors Behind Changes in Business Performance | In Precision & Electronics, customer factory utilization rates continued to rise and investment to expand production continued, driven by demand for AI-related products, while Construction & Industrial, Environment and other segments also remained firm. In addition to the other segments offsetting the decline in revenue and profit in Energy, the company recorded ¥3.4 billion in financial income and ¥17.2 billion in gains on the sale of investments in connection with the transfer of shares in 水ing. |
Items this document does not state (2)
Payout ratioShareholder Return Policy
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 Precision & Electronics, customer factory utilization rates continued to rise and investment to expand production continued, driven by demand for AI-related products. Construction & Industrial and Environment also remained firm, with the other segments offsetting the decline in revenue and profit in Energy. In addition, financial income and a gain on the sale of investments accounted for under the equity method were recorded in connection with the transfer of shares in 水ing.
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