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Financial results presentationFY2025 full year (fiscal year ending March 2026)14 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥100,900 million+3.9%
Operating profit¥6,526 million+14.5%
Ordinary income¥6,567 million+21.9%
Net income¥5,777 million+64.9%
Operating profit margin6.5 %
Selling, general and administrative expensesIncreases in personnel costs, logistics expenses and fees paid, as well as reductions resulting from organizational restructuring overseas, are described. Some amounts are shown in the bridge analysis, but total SG&A expenses and the SG&A-to-revenue ratio are Not disclosed
Results for the three months of the current quarterRevenue of ¥28,813 million and operating profit of ¥2,168 million. Presented as part of the quarterly trend
Full-year earnings forecast
Net Sales
¥101,000 million
Operating profit
¥8,100 million
Profit attributable to owners of the parent
¥4,800 million
ROE
8.5 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The second-year target of the medium-term management plan was achieved. FY2026 operating profit is expected to fall below the target for the final year of the medium-term planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- FY2025 domestic operating profit+¥0.9 billionFactorsRevenue up
- FY2025 domestic operating profit+¥0.62 billionFactorsGross margin improvement
- FY2025 domestic operating profit-¥0.81 billionFactorsIncrease in SG&A expenses
- FY2025 overseas operating profit+¥90 millionFactorsHigher revenue (on a USD basis)
- FY2025 overseas operating profit-¥0.64 billionFactorsDeterioration in Gross Margin
- FY2025 overseas operating profit+¥0.75 billionFactorsDecrease in selling, general and administrative expenses
- FY2025 overseas operating profit+¥70 millionFactorsForeign exchange (USD/JPY)
- FY2026 operating profit versus the medium-term plan+¥3.0 billionFactorsHigher revenue and improved gross margin
- FY2026 operating profit versus the medium-term plan-¥1.75 billionFactorsHigher raw material and component prices
- FY2026 operating profit versus the medium-term plan-¥1.65 billionFactorsIncrease in SG&A expenses
- FY2026 operating profit versus the medium-term plan+¥0.3 billionFactorsForeign exchange (USD/JPY)
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Assumed exchange rate (JPY/USD)155
- Meter replacement rate among Australian regional power utilities15% in 2026, 24% in 2027, 24% in 2028, 20% in 2029, and 16% in 2030
New initiatives
- Exploring entry into the US market and conducting demonstration projects with multiple power companies
- Exploring entry into the battery storage business and grid-scale battery storage facilities
- Launching and expanding sales of SmaRe:C, an energy management service using AI and battery storage
- Transforming business processes through DX investments
- Fully automating the main production processes for second-generation smart meters
- Strengthening sales of NEOS, the company's next-generation smart meter for overseas markets
Key KPIsA metric the company considers important as a management benchmark.
- ROE10.6 %Year on year against the same period last yearUp from 6.9% in FY2024
- Equity ratio56.9 %Year on year against the same period last year+5.0 percentage points
- PBR1.31 times
- TSR (total shareholder return)294.6 %Year on year against the same period last yearUp from 169.7% in the previous fiscal year
- Number of IR/SR meetings132 meetings as of Q3 FY2025Year on year against the same period last yearUp from 31 meetings in FY2022
Segment results
- Domestic measurement and control businessNet Sales59,732Revenue unit¥ millionYear-on-year sales6.5Operating profit4,676Operating profit unit¥ millionYear-on-year operating profit17.9
- Overseas measurement and control businessNet Sales41,566Revenue unit¥ millionYear-on-year sales-0.4Operating profit1,743Operating profit unit¥ millionYear-on-year operating profit17.9
- Real Estate BusinessNet Sales435Revenue unit¥ millionYear-on-year sales-22.4Operating profit103Operating profit unit¥ millionYear-on-year operating profit-61.5
Medium-term management plan targets
FY2025
Net Sales¥980 100 million partly %
Operating profit¥58 100 million partly %
Operating profit margin¥5.9 100 million partly %
Net income for the current fiscal year¥36 100 million partly %
ROE¥7 100 million partly %
Fiscal 2026
Net Sales¥1,000 100 million partly %
Operating profit¥90 100 million partly %
Operating profit margin¥9 100 million partly %
Net income for the current fiscal year¥55 100 million partly %
ROE¥10 100 million partly %
Comparison with actual resultsFY2025 results exceeded the targets, with revenue of ¥100.9 billion, operating profit of ¥6.5 billion, net income of ¥5.8 billion and ROE of 10.6%
Financial targets
Medium-term management plan ROE target7.0% in FY2025 and 10.0% in FY2026
Actual ROE10.6% in FY2025
Actual equity ratio56.9%
Market Size / Share
There are approximately 3,000 midsize regional power utilities in the US. The US market is approximately 10 times the size of Australia's. The company is stated to hold the top share of the smart lock market for rental housingNumber of employees
EDMI reduced its workforce by 16% as of the end of December 2025 compared with December 2023Capital expenditures
¥5,889 million FY2025 actual
Annual Dividend
FY2025
Annual¥49 per share
Interim¥17 per share
End of period¥32 per share
FY2026 forecast
Annual¥49 per share
Interim¥29 per share
End of period¥20 per share
Payout ratio
The dividend policy uses the higher of a 3% DOE and a 30% dividend payout ratio as a guideline. The forecast dividend payout ratio for FY2026 is 30.0%, and the total payout ratio is 90.9%Acquisition of treasury shares
Buyback limitUp to ¥2.5 billion and up to 1.5 million shares
PeriodFebruary–September 2026
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | FY2025 full year (fiscal year ending March 2026) |
| Net Sales | ¥100,900 million (YoY +3.9%) |
| Operating profit | ¥6,526 million (YoY +14.5%) |
| Ordinary income | ¥6,567 million (YoY +21.9%) |
| Net income | ¥5,777 million (YoY +64.9%) |
| Operating profit margin | 6.5 % |
| Selling, general and administrative expenses | Increases in personnel costs, logistics expenses and fees paid, as well as reductions resulting from organizational restructuring overseas, are described. Some amounts are shown in the bridge analysis, but total SG&A expenses and the SG&A-to-revenue ratio are Not disclosed |
| Results for the three months of the current quarter | Revenue of ¥28,813 million and operating profit of ¥2,168 million. Presented as part of the quarterly trend |
| Full-year earnings forecast | Net Sales ¥101,000 million / Operating profit ¥8,100 million / Profit attributable to owners of the parent ¥4,800 million / ROE 8.5 % |
| Self-assessment against the plan | The second-year target of the medium-term management plan was achieved. FY2026 operating profit is expected to fall below the target for the final year of the medium-term plan |
| Segment results | Segment Domestic measurement and control business / Net Sales 59,732 / Revenue unit ¥ million / Year-on-year sales 6.5 / Operating profit 4,676 / Operating profit unit ¥ million / Year-on-year operating profit 17.9, Segment Overseas measurement and control business / Net Sales 41,566 / Revenue unit ¥ million / Year-on-year sales -0.4 / Operating profit 1,743 / Operating profit unit ¥ million / Year-on-year operating profit 17.9, Segment Real Estate Business / Net Sales 435 / Revenue unit ¥ million / Year-on-year sales -22.4 / Operating profit 103 / Operating profit unit ¥ million / Year-on-year operating profit -61.5 |
| Breakdown of Factors Affecting the Change | Subject FY2025 domestic operating profit / Factors Revenue up / Amount +¥0.9 billion, Subject FY2025 domestic operating profit / Factors Gross margin improvement / Amount +¥0.62 billion, Subject FY2025 domestic operating profit / Factors Increase in SG&A expenses / Amount -¥0.81 billion, Subject FY2025 overseas operating profit / Factors Higher revenue (on a USD basis) / Amount +¥90 million, Subject FY2025 overseas operating profit / Factors Deterioration in Gross Margin / Amount -¥0.64 billion, Subject FY2025 overseas operating profit / Factors Decrease in selling, general and administrative expenses / Amount +¥0.75 billion, Subject FY2025 overseas operating profit / Factors Foreign exchange (USD/JPY) / Amount +¥70 million, Subject FY2026 operating profit versus the medium-term plan / Factors Higher revenue and improved gross margin / Amount +¥3.0 billion, Subject FY2026 operating profit versus the medium-term plan / Factors Higher raw material and component prices / Amount -¥1.75 billion, Subject FY2026 operating profit versus the medium-term plan / Factors Increase in SG&A expenses / Amount -¥1.65 billion, Subject FY2026 operating profit versus the medium-term plan / Factors Foreign exchange (USD/JPY) / Amount +¥0.3 billion |
| Key KPIs | Indicator ROE / Value 10.6 % / Year on year against the same period last year Up from 6.9% in FY2024, Indicator Equity ratio / Value 56.9 % / Year on year against the same period last year +5.0 percentage points, Indicator PBR / Value 1.31 times / Year on year against the same period last year Not disclosed, Indicator TSR (total shareholder return) / Value 294.6 % / Year on year against the same period last year Up from 169.7% in the previous fiscal year, Indicator Number of IR/SR meetings / Value 132 meetings (as of Q3 FY2025) / Year on year against the same period last year Up from 31 meetings in FY2022 |
| Number of employees | EDMI reduced its workforce by 16% as of the end of December 2025 compared with December 2023 |
| Assumptions Underlying the Business Outlook | Item Assumed exchange rate (JPY/USD) / Value 155, Item Meter replacement rate among Australian regional power utilities / Value 15% in 2026, 24% in 2027, 24% in 2028, 20% in 2029, and 16% in 2030 |
| Medium-term management plan targets | FY2025 Net Sales ¥980 100 million (partly %) / Operating profit ¥58 100 million (partly %) / Operating profit margin ¥5.9 100 million (partly %) / Net income for the current fiscal year ¥36 100 million (partly %) / ROE ¥7 100 million (partly %) / Fiscal 2026 Net Sales ¥1,000 100 million (partly %) / Operating profit ¥90 100 million (partly %) / Operating profit margin ¥9 100 million (partly %) / Net income for the current fiscal year ¥55 100 million (partly %) / ROE ¥10 100 million (partly %) / Comparison with actual results FY2025 results exceeded the targets, with revenue of ¥100.9 billion, operating profit of ¥6.5 billion, net income of ¥5.8 billion and ROE of 10.6% |
| Financial targets | Medium-term management plan ROE target 7.0% in FY2025 and 10.0% in FY2026 / Actual ROE 10.6% in FY2025 / Actual equity ratio 56.9% |
| Annual Dividend | FY2025 Annual ¥49 per share / Interim ¥17 per share / End of period ¥32 per share / FY2026 forecast Annual ¥49 per share / Interim ¥29 per share / End of period ¥20 per share |
| Payout ratio | The dividend policy uses the higher of a 3% DOE and a 30% dividend payout ratio as a guideline. The forecast dividend payout ratio for FY2026 is 30.0%, and the total payout ratio is 90.9% |
| Acquisition of treasury shares | Buyback limit Up to ¥2.5 billion and up to 1.5 million shares / Period February–September 2026 |
| Capital expenditures | ¥5,889 million (FY2025 actual) |
| Market Size / Share | There are approximately 3,000 midsize regional power utilities in the US. The US market is approximately 10 times the size of Australia's. The company is stated to hold the top share of the smart lock market for rental housing |
| New initiatives | Exploring entry into the US market and conducting demonstration projects with multiple power companies, Exploring entry into the battery storage business and grid-scale battery storage facilities, Launching and expanding sales of SmaRe:C, an energy management service using AI and battery storage, Transforming business processes through DX investments, Fully automating the main production processes for second-generation smart meters, Strengthening sales of NEOS, the company's next-generation smart meter for overseas markets |
Items this document does not state (7)
Gross Profit MarginProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsRisk 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.The increases in revenue and profit in FY2025 were attributable to expanded sales of second-generation smart meters, higher sales in the UK, the Middle East and Africa, improved profitability in the domestic smart meter business, improved margins in the switchboard business, and lower SG&A expenses following organizational restructuring overseas. The reasons cited for FY2026 operating profit falling below the medium-term plan target include higher prices for raw materials and components, such as copper products, petrochemical products and electronic components, as well as higher SG&A expenses due to DX investments, personnel costs and costs related to exploring entry into the US market.
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