Worth reading
71In focus
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
41
Hundreds of millions of yenWording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFY2026 First Quarter12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales861 Hundreds of millions of yen+1.2%
Operating profit-19 Hundreds of millions of yen
Ordinary income-15 Hundreds of millions of yen
Net income25 Hundreds of millions of yen
Operating profit margin2.2% (down 0.6 percentage points year on year)
Results for the three months of the current quarterRevenue of ¥86.1 billion, an operating loss of ¥1.9 billion, an ordinary loss of ¥1.5 billion, and net income attributable to owners of the parent of ¥2.5 billion (all for the standalone first quarter of FY2026)
Full-year earnings forecast
Net Sales
4,400 Hundreds of millions of yen
Operating profit
220 Hundreds of millions of yen
Ordinary income
220 Hundreds of millions of yen
Net income for the current fiscal year
180 Hundreds of millions of yen
Operating profit margin
5 %
Dividend per share
¥65
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。Public Solutions secured 78% of its full-year revenue target, equivalent to approximately ¥114 billion in secured revenue (as of the end of July)
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Overall progress is on track, with revenue and operating profit getting off to a start broadly in line with expectationsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit
Volume changes and product mix-14
Supply chain impact-4
Changes in fixed costs and other items13
Foreign Exchange Effects0
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
USD
FY2025 actual¥150.8
FY2026 forecast¥155.0
EUR
FY2025 actual¥174.8
FY2026 forecast¥175.0
New initiatives
- Formal order secured for Australia's next-generation general-purpose frigate program
- Expansion of production capacity in the defense and marine sectors through construction of a new building at the Numazu Plant
- Preparation for the establishment of an ATM joint venture with Hitachi, Ltd.
- Launch of CFB mass production
- Establishment of mass-production technology for high-power terahertz devices using dissimilar-material bonding with NTT Innovative Devices Corporation
- Launch of a slim, highly flexible robot cable compatible with temperatures up to 105°C
Segment results
Public Solutions
Net Sales
282 Hundreds of millions of yen+22.0%
Operating profit
11 Hundreds of millions of yen+482.0%
Financial Solutions
Net Sales
274 Hundreds of millions of yen-13.0%
Operating profit
2 Hundreds of millions of yen-88.0%
Components & Manufacturing
Net Sales
299 Hundreds of millions of yen+2.0%
Operating profit
-6 Hundreds of millions of yen
Medium-term management plan targets
Target fiscal yearFiscal 2031
Net Sales¥600 billion or more
Operating profit marginAt least 7%
ROE10% or higher
Equity ratio40% or more
Payout ratio35% or more
Financial targets
ROE
FY2026 forecast10.0%
FY2031 management plan target10% or higher
Equity ratio
FY2026 forecast40.0%
FY2031 management plan target40% or more
Debt-to-equity ratio
End of June FY20260.5x
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
¥400 million negative impact from supply chain issues on first-quarter operating profitOrders received and order backlog
Public Solutions secured approximately ¥114 billion in orders, with a secured order ratio of 78% (as of the end of July)Capital expenditures
33 Hundreds of millions of yen
Annual Dividend
Annual¥65
Payout ratio
FY2031 management plan target: 35% or more| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | FY2026 First Quarter |
| Net Sales | 861 Hundreds of millions of yen (YoY +1.2%) |
| Operating profit | -19 Hundreds of millions of yen |
| Ordinary income | -15 Hundreds of millions of yen |
| Net income | 25 Hundreds of millions of yen |
| Operating profit margin | 2.2% (down 0.6 percentage points year on year) |
| Results for the three months of the current quarter | Revenue of ¥86.1 billion, an operating loss of ¥1.9 billion, an ordinary loss of ¥1.5 billion, and net income attributable to owners of the parent of ¥2.5 billion (all for the standalone first quarter of FY2026) |
| Full-year earnings forecast | Net Sales 4,400 Hundreds of millions of yen / Operating profit 220 Hundreds of millions of yen / Ordinary income 220 Hundreds of millions of yen / Net income for the current fiscal year 180 Hundreds of millions of yen / Operating profit margin 5 % / Dividend per share ¥65 |
| Progress against full-year forecast | Public Solutions secured 78% of its full-year revenue target, equivalent to approximately ¥114 billion in secured revenue (as of the end of July) |
| Self-assessment against the plan | Overall progress is on track, with revenue and operating profit getting off to a start broadly in line with expectations |
| Segment results | Public Solutions Net Sales 282 Hundreds of millions of yen (YoY +22.0%) / Operating profit 11 Hundreds of millions of yen (YoY +482.0%) / Financial Solutions Net Sales 274 Hundreds of millions of yen (YoY -13.0%) / Operating profit 2 Hundreds of millions of yen (YoY -88.0%) / Components & Manufacturing Net Sales 299 Hundreds of millions of yen (YoY +2.0%) / Operating profit -6 Hundreds of millions of yen |
| Breakdown of Factors Affecting the Change | Operating profit Volume changes and product mix -14 / Supply chain impact -4 / Changes in fixed costs and other items 13 / Foreign Exchange Effects 0 |
| Assumptions Underlying the Business Outlook | USD FY2025 actual ¥150.8 / FY2026 forecast ¥155.0 / EUR FY2025 actual ¥174.8 / FY2026 forecast ¥175.0 |
| Risk amount incorporated into the outlook | ¥400 million negative impact from supply chain issues on first-quarter operating profit |
| Medium-term management plan targets | Target fiscal year Fiscal 2031 / Net Sales ¥600 billion or more / Operating profit margin At least 7% / ROE 10% or higher / Equity ratio 40% or more / Payout ratio 35% or more |
| Financial targets | ROE FY2026 forecast 10.0% / FY2031 management plan target 10% or higher / Equity ratio FY2026 forecast 40.0% / FY2031 management plan target 40% or more / Debt-to-equity ratio End of June FY2026 0.5x |
| Annual Dividend | Annual ¥65 / Interim Not disclosed / End of period Not disclosed |
| Payout ratio | FY2031 management plan target: 35% or more |
| Capital expenditures | 33 Hundreds of millions of yen |
| Orders received and order backlog | Public Solutions secured approximately ¥114 billion in orders, with a secured order ratio of 78% (as of the end of July) |
| New initiatives | Formal order secured for Australia's next-generation general-purpose frigate program, Expansion of production capacity in the defense and marine sectors through construction of a new building at the Numazu Plant, Preparation for the establishment of an ATM joint venture with Hitachi, Ltd., Launch of CFB mass production, Establishment of mass-production technology for high-power terahertz devices using dissimilar-material bonding with NTT Innovative Devices Corporation, Launch of a slim, highly flexible robot cable compatible with temperatures up to 105°C |
Items this document does not state (9)
Gross Profit MarginSelling, general and administrative expensesKey KPIsUnit price and quantity metricsNumber of stores and locationsNumber of employeesAcquisition of treasury sharesMarket Size / ShareKey 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.Operating profit was negatively affected by lower volumes and product mix in Financial Solutions, as well as supply chain impacts, while higher profit in Public Solutions provided support. Net income increased due to gains on the sale of strategic shareholdings.
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