Worth reading
53Recurring
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
30.8
%Wording
Conditional
How definitive the wording is.Results for this period
First quarter1 April 2026 to 30 June 2026ConsolidatedJapanese GAAPNet Sales42,183Millions of yenYear on year +10.7%Progress 21.1%
Operating profit6,612Millions of yenYear on year -4.9%Progress 16.5%
Ordinary income6,762Millions of yenYear on year +4.5%Progress 16.9%
Net income attributable to owners of the parent3,436Millions of yenYear on year -5.7%Progress 11.5%
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¥74.73
Financial position at period-end
Total assets221,707Millions of yen
of which net assets 141,890 Millions of yenEquity ratio 64.0%vs. prior year-end +0.4pt
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.
Segment revenueWater Treatment Engineering Business 34,923 Millions of yen (YoY +8.8%), Functional Products Business 7,259 Millions of yen (YoY +20.8%)
Segment profitWater Treatment Engineering Business 5,702 Millions of yen (YoY -6.7%), Functional Products Business 910 Millions of yen (YoY +8.0%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales200,000 Millions of yen (YoY +12.6%)
Operating profit40,000 Millions of yen (YoY +6.2%)
Ordinary income40,000 Millions of yen (YoY +4.9%)
Net income30,000 Millions of yen (YoY +5.6%)
Revision to Earnings ForecastOrders received (cumulative through the second quarter) Not disclosed → 170,000 Millions of yen（+30.8%） / Orders received (full year) Not disclosed → 300,000 Millions of yen（+30.4%） / Net sales and each profit measure No change from the previously announced forecast
Annual Dividend Forecast¥200 (actual for the fiscal year ended March 2026) → ¥220 (excluding the impact of the stock split; the stated annual total is —)
Factors Behind Changes in Business Performance
Against a backdrop of rapidly expanding demand related to generative AI and the full-scale commencement of data center investment, demand for advanced semiconductors remained high, while large-scale projects in Taiwan and the United States and solution projects drove increases in sales and orders. On the other hand, the gross profit margin declined following the year-earlier contribution from highly profitable plant projects, and selling, general and administrative expenses increased due to higher personnel costs and IT-related spending.
Disclosure regarding the going concern assumption
No applicable matters.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 0 / Company name Not disclosed / Excluded Number of companies 0 / Company name Not disclosed
Material subsequent eventsA stock split at a ratio of 5 common shares for each share will be conducted, with 1 October 2026 as the effective date. The total number of authorized shares will be changed accordingly.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 0 Millions of yen / Extraordinary loss Loss on sale of fixed assets 0 Millions of yen, Loss on disposal of fixed assets 0 Millions of yen
Depreciation and amortization495 Millions of yen
Orders received and order backlogOrders received 110,235 Millions of yen / Carried-forward order backlog 165,132 Millions of yen
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingNone (対象者：Not disclosed)
Issued Shares at Period-End46,359,700 Shares
Treasury Shares at Period-End377,352 Shares
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 June 2026 |
| Net Sales | 42,183 Millions of yen (YoY +10.7%) |
| Operating profit | 6,612 Millions of yen (YoY -4.9%) |
| Ordinary income | 6,762 Millions of yen (YoY +4.5%) |
| Profit attributable to owners of the parent | 3,436 Millions of yen (YoY -5.7%) |
| Net income per share | ¥74.73 |
| Equity ratio | End of the current fiscal period 64.0% / End of previous period 63.6% |
| Total assets | 221,707 Millions of yen |
| Net assets | 141,890 Millions of yen |
| Full-year earnings forecast | Net Sales 200,000 Millions of yen (YoY +12.6%) / Operating profit 40,000 Millions of yen (YoY +6.2%) / Ordinary income 40,000 Millions of yen (YoY +4.9%) / Net income 30,000 Millions of yen (YoY +5.6%) |
| Revision to Earnings Forecast | Orders received (cumulative through the second quarter) Not disclosed → 170,000 Millions of yen（+30.8%） / Orders received (full year) Not disclosed → 300,000 Millions of yen（+30.4%） / Net sales and each profit measure No change from the previously announced forecast |
| Annual Dividend Forecast | ¥200 (actual for the fiscal year ended March 2026) → ¥220 (excluding the impact of the stock split; the stated annual total is —) |
| Segment revenue | Water Treatment Engineering Business 34,923 Millions of yen (YoY +8.8%), Functional Products Business 7,259 Millions of yen (YoY +20.8%) |
| Segment profit | Water Treatment Engineering Business 5,702 Millions of yen (YoY -6.7%), Functional Products Business 910 Millions of yen (YoY +8.0%) |
| Orders received and order backlog | Orders received 110,235 Millions of yen / Carried-forward order backlog 165,132 Millions of yen |
| Depreciation and amortization | 495 Millions of yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 0 Millions of yen / Extraordinary loss Loss on sale of fixed assets 0 Millions of yen, Loss on disposal of fixed assets 0 Millions of yen |
| Disclosure regarding the going concern assumption | No applicable matters. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 0 / Company name Not disclosed / Excluded Number of companies 0 / Company name Not disclosed |
| Material subsequent events | A stock split at a ratio of 5 common shares for each share will be conducted, with 1 October 2026 as the effective date. The total number of authorized shares will be changed accordingly. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | None (対象者：Not disclosed) |
| Issued Shares at Period-End | 46,359,700 Shares |
| Treasury Shares at Period-End | 377,352 Shares |
| Factors Behind Changes in Business Performance | Against a backdrop of rapidly expanding demand related to generative AI and the full-scale commencement of data center investment, demand for advanced semiconductors remained high, while large-scale projects in Taiwan and the United States and solution projects drove increases in sales and orders. On the other hand, the gross profit margin declined following the year-earlier contribution from highly profitable plant projects, and selling, general and administrative expenses increased due to higher personnel costs and IT-related spending. |
Items this document does not state (9)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioShareholder Return PolicyRegional salesImpairment loss
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.The upward revision to the order forecasts reflects an increase in investment projects, mainly in the overseas electronics industry, an expansion in the scope of work for projects in the United States, and the timing of orders moving forward because delivery periods were set longer for certain projects. The decline in operating income was attributed to a lower gross profit margin following the year-earlier recognition of revenue from highly profitable plant projects, as well as higher selling, general and administrative expenses due to increases in personnel costs and IT-related spending.
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