Presentation Materials for the Fiscal Year Ended March 2026 Financial Results and the Fiscal Year Ending March 2027 Business Plan | MAX CO.,LTD. (6454) timely disclosure

Worth reading

88Important

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

8.5

Year-on-year revenue growth (%)

Wording

Conditional

How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ending March 202614 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥99,607 million+8.5%

Operating profit¥17,571 million+21.4%

Ordinary income¥18,382 million+24.1%

Net income¥13,891 million+23.8%

Gross Profit Margin49.3 %

Operating profit margin17.6 %

Results for the three months of the current quarterIncludes quarterly net sales, segment sales, overseas regional sales, and quarterly volume trends for rebar tiers

Full-year earnings forecast

Net Sales

¥105,500 million

Operating profit

¥18,800 million

Ordinary income

¥19,100 million

Net income

¥14,200 million

Operating profit margin

17.8 %

Ordinary income margin

18.1 %

Net profit margin

13.5 %

ROE

12.3 %

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。

Sales of tools for concrete structures119%

Industrial equipment segment sales102.4%

Industrial equipment segment profit103.0%

Office equipment segment sales101.1%

Office equipment segment profit99.6%

HCR equipment segment sales97.8%

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

Tools for concrete structures, centered on rebar tiers, are progressing smoothly. Strengthening the domestic business remains a challenge, and the commercialization of new businesses is still in progress.

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Change in operating profit

Foreign exchange impact on sales972

Foreign exchange impact on costs421

Volume and mix differences, and other factors4,292

Higher selling prices1,451

Higher costs1,097

Increase in SG&A expenses-2,094

Foreign exchange translation differences60

Increase in operating profit3,103

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Assumed Exchange Rates

US dollars150

Euro175

Sales foreign exchange sensitivity

US dollars¥240 million, annualized

Euro¥110 million, annualized

Profit foreign exchange sensitivity

US dollars¥90 million, annualized

Euro¥110 million, annualized

New initiatives

Acquisition of all shares of Nordic distributor Bo Fastening AB
Acquisition of all shares of parts processor 藤工業株式会社
Launch and overseas expansion of the tube marker “Letatwin LM-3000PRO”
Expansion of the “Twintier” rebar tier lineup, including large-diameter and extra-large-diameter models
Investment in additional production capacity for tie wire

Key KPIsA metric the company considers important as a management benchmark.

Overseas revenue520 Hundreds of millions of yen
Year on year against the same period last year+17%
Overseas revenue ratio52.3 %
Sales of tools for concrete structures427 Hundreds of millions of yen
Year on year against the same period last year+23%
ROE12.6 %
PBR2.5 times

Unit price and quantity metricsThese figures show sales broken down by price and volume.

Quarterly volume trends for rebar tier machines and consumables are provided, but detailed figures are not disclosed in the text excerpt

Segment results

Industrial Equipment Division

Net Sales

¥75,156 million+12.7%

Segment profit

¥18,955 million+29.9%

Office Equipment Division

Net Sales

¥21,438 million-2.0%

Segment profit

¥3,587 million-19.9%

HCR Equipment Division

Net Sales

¥3,012 million-7.4%

Segment profit

¥-42 million

Medium-term management plan targets

Target vision for fiscal 2030

Net SalesMore than ¥110 billion

Operating profitMore than ¥20 billion

ROEMore than 12%

PBRMore than 2x

Overseas revenue ratioMore than 55%

Fiscal year ending March 2027: plan

Net Sales¥105.5 billion

Operating profit¥18.8 billion

ROE12.3%

Overseas revenue ratio53%

Financial targets

ROE

Actual results for the fiscal year ending March 202612.6%

Fiscal year ending March 2027: plan12.3%

PBR

Actual results for the fiscal year ending March 20262.5x

Fiscal year ending March 2027: plan3.0x

Market Size / Share

Estimated market size for tools for concrete structures¥47.0 billion for the fiscal year ending March 2027; estimated future market size of ¥80–90 billion

Capital expenditures

3,039 Millions of yen fiscal year ended March 2026 actual

Annual Dividend

Fiscal year ending March 2026

Annual¥148

End of period¥148

Fiscal year ending March 2027

Annual¥40

Payout ratio

Fiscal year ending March 202648.3%

New dividend policyA payout ratio of approximately 50% and a dividend-on-equity ratio of approximately 6.0%

Acquisition of treasury shares

¥7.1 billion (maximum)

Number of Shares4,000,000 shares (maximum)

Period1 May 2026 to 31 December 2026

Contents of this document
Item	Details
Document type	Financial results presentation
Fiscal Period Covered	Fiscal year ending March 2026
Net Sales	¥99,607 million (YoY +8.5%)
Operating profit	¥17,571 million (YoY +21.4%)
Ordinary income	¥18,382 million (YoY +24.1%)
Net income	¥13,891 million (YoY +23.8%)
Gross Profit Margin	49.3 %
Operating profit margin	17.6 %
Results for the three months of the current quarter	Includes quarterly net sales, segment sales, overseas regional sales, and quarterly volume trends for rebar tiers
Full-year earnings forecast	Net Sales ¥105,500 million / Operating profit ¥18,800 million / Ordinary income ¥19,100 million / Net income ¥14,200 million / Operating profit margin 17.8 % / Ordinary income margin 18.1 % / Net profit margin 13.5 % / ROE 12.3 %
Progress against full-year forecast	Sales of tools for concrete structures 119% / Industrial equipment segment sales 102.4% / Industrial equipment segment profit 103.0% / Office equipment segment sales 101.1% / Office equipment segment profit 99.6% / HCR equipment segment sales 97.8%
Self-assessment against the plan	Tools for concrete structures, centered on rebar tiers, are progressing smoothly. Strengthening the domestic business remains a challenge, and the commercialization of new businesses is still in progress.
Segment results	Industrial Equipment Division Net Sales ¥75,156 million (YoY +12.7%) / Segment profit ¥18,955 million (YoY +29.9%) / Office Equipment Division Net Sales ¥21,438 million (YoY -2.0%) / Segment profit ¥3,587 million (YoY -19.9%) / HCR Equipment Division Net Sales ¥3,012 million (YoY -7.4%) / Segment profit ¥-42 million
Breakdown of Factors Affecting the Change	Change in operating profit Foreign exchange impact on sales 972 / Foreign exchange impact on costs 421 / Volume and mix differences, and other factors 4,292 / Higher selling prices 1,451 / Higher costs 1,097 / Increase in SG&A expenses -2,094 / Foreign exchange translation differences 60 / Increase in operating profit 3,103
Key KPIs	Indicator name Overseas revenue / Value 520 Hundreds of millions of yen / Year on year against the same period last year +17%, Indicator name Overseas revenue ratio / Value 52.3 % / Year on year against the same period last year Not disclosed, Indicator name Sales of tools for concrete structures / Value 427 Hundreds of millions of yen / Year on year against the same period last year +23%, Indicator name ROE / Value 12.6 % / Year on year against the same period last year Not disclosed, Indicator name PBR / Value 2.5 times / Year on year against the same period last year Not disclosed
Unit price and quantity metrics	Quarterly volume trends for rebar tier machines and consumables are provided, but detailed figures are not disclosed in the text excerpt
Assumptions Underlying the Business Outlook	Assumed Exchange Rates US dollars 150 / Euro 175 / Sales foreign exchange sensitivity US dollars ¥240 million, annualized / Euro ¥110 million, annualized / Profit foreign exchange sensitivity US dollars ¥90 million, annualized / Euro ¥110 million, annualized
Medium-term management plan targets	Target vision for fiscal 2030 Net Sales More than ¥110 billion / Operating profit More than ¥20 billion / ROE More than 12% / PBR More than 2x / Overseas revenue ratio More than 55% / Fiscal year ending March 2027: plan Net Sales ¥105.5 billion / Operating profit ¥18.8 billion / ROE 12.3% / Overseas revenue ratio 53%
Financial targets	ROE Actual results for the fiscal year ending March 2026 12.6% / Fiscal year ending March 2027: plan 12.3% / PBR Actual results for the fiscal year ending March 2026 2.5x / Fiscal year ending March 2027: plan 3.0x
Annual Dividend	Fiscal year ending March 2026 Annual ¥148 / Interim Not disclosed / End of period ¥148 / Fiscal year ending March 2027 Annual ¥40 / Interim Not disclosed / End of period Not disclosed
Payout ratio	Fiscal year ending March 2026 48.3% / New dividend policy A payout ratio of approximately 50% and a dividend-on-equity ratio of approximately 6.0%
Acquisition of treasury shares	Number of Shares 4,000,000 shares (maximum) / Amount ¥7.1 billion (maximum) / Period 1 May 2026 to 31 December 2026
Capital expenditures	3,039 Millions of yen (fiscal year ended March 2026 actual)
Market Size / Share	Estimated market size for tools for concrete structures ¥47.0 billion for the fiscal year ending March 2027; estimated future market size of ¥80–90 billion
New initiatives	Acquisition of all shares of Nordic distributor Bo Fastening AB, Acquisition of all shares of parts processor 藤工業株式会社, Launch and overseas expansion of the tube marker “Letatwin LM-3000PRO”, Expansion of the “Twintier” rebar tier lineup, including large-diameter and extra-large-diameter models, Investment in additional production capacity for tie wire

Items this document does not state (6)

Selling, general and administrative expensesNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookOrders received and order backlogKey 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.

Overseas sales of rebar tiers and their consumables increased significantly, driven by demand for mechanization amid labor shortages and promotional activities. Foreign exchange effects, higher selling prices, and volume and mix differences also contributed to the increase in operating profit. Meanwhile, the domestic office business was affected by parts shortages and other factors, while the HCR equipment segment was affected by the downturn in China's rental market and defects in new products launched in Japan.

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.