Results for this period
Full year1 February 2025–31 January 2026ConsolidatedJapanese GAAPThe 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.
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.
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Lower sales volumes resulting from stagnant EV demand, the exclusion of WCP from the scope of consolidation, and delays in receiving orders for new projects in the Ion-Exchange Membrane Business. The operating loss was affected by lower revenue, an equity-method investment loss, an impairment loss and a loss on sale of shares in affiliates.
A description of significant events and conditions is included. A significant doubt has arisen from the substantial decline in revenue and continuing material operating losses, but the Company determined that no material uncertainty exists in light of its funding position. There are no applicable matters to disclose in the notes.
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 February 2025–31 January 2026 |
| Net Sales | ¥3,630 million (YoY -88.3%) |
| Operating profit | ¥-4,919 million |
| Ordinary income | ¥-11,412 million |
| Profit attributable to owners of the parent | ¥-12,465 million |
| Net income per share | −¥225.88 |
| Operating Margin | △135.5% |
| Equity ratio | End of the current fiscal period 78.5% / End of previous period 82.5% |
| Total assets | ¥52,004 million |
| Net assets | ¥40,933 million |
| Cash flows from operating activities | ¥745 million |
| Cash flows from investing activities | ¥-727 million |
| Cash flows from financing activities | ¥22 million |
| Cash and cash equivalents at end of period | ¥271 million |
| Full-year earnings forecast | Net Sales ¥6,000 million (YoY +65.2%) / Operating profit ¥-2,400 million / Ordinary income ¥-4,400 million / Net income ¥-4,400 million |
| Annual Dividend Forecast | ¥0 → ¥0（0.0%） |
| Segment revenue | Segment Separator Business / Net Sales ¥2,211 million / yoy_pct ¥7.4 million, Segment Ion-Exchange Membrane Business / Net Sales ¥1,419 million / yoy_pct ¥106.3 million |
| Segment profit | Segment Separator Business / Segment profit ¥-4,476 million / yoy_pct Not disclosed, Segment Ion-Exchange Membrane Business / Segment profit ¥504 million / yoy_pct Not disclosed |
| Depreciation and amortization | ¥1,533 million |
| Impairment loss | ¥579 million, W-SCOPE KOREA CO., LTD. (Separator Business) |
| Breakdown of extraordinary income (loss) | Extraordinary income Not disclosed / Extraordinary loss Item Impairment Losses / Amount ¥579 million, Item Loss on sale of shares of subsidiaries and affiliates / Amount ¥468 million |
| Disclosure regarding the going concern assumption | A description of significant events and conditions is included. A significant doubt has arisen from the substantial decline in revenue and continuing material operating losses, but the Company determined that no material uncertainty exists in light of its funding position. There are no applicable matters to disclose in the notes. |
| Change in accounting policy | Changes due to revisions to standards Yes / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 companies / Excluded 0 companies / Company name None |
| Material subsequent events | The market capitalization of tradable shares was ¥9,506 million, below the ¥10,000 million continued-listing criterion for the Prime Market. Accordingly, the fiscal year ending January 2027 became the improvement grace period. The Company plans to disclose a plan to achieve compliance with the continued-listing criteria by 30 April 2026 and is also considering changing its market segment to the Standard Market. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Institutional investors and analysts |
| Issued Shares at Period-End | 58,025,700 |
| Treasury Shares at Period-End | 300,618 |
| Factors Behind Changes in Business Performance | Lower sales volumes resulting from stagnant EV demand, the exclusion of WCP from the scope of consolidation, and delays in receiving orders for new projects in the Ion-Exchange Membrane Business. The operating loss was affected by lower revenue, an equity-method investment loss, an impairment loss and a loss on sale of shares in affiliates. |
Items this document does not state (5)
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 decline in revenue was attributable to lower sales volumes resulting from stagnant EV demand, the exclusion of W-SCOPE CHUNGJU PLANT CO., LTD. (WCP) from the scope of consolidation, and delays in receiving orders for other new projects. Although expenses declined due to reduced production volumes accompanying the fall in sales volumes and the exclusion of WCP from consolidation, the impact of lower revenue was substantial. The Company also recorded an equity-method investment loss of ¥6,331 million and an impairment loss of ¥579 million, among other items.