Revised forecast
the fiscal year ending March 2027 · Full yearPrevious forecast published 20 May 2026The bar length represents the relative magnitude of change, based on the item that changed the most in this document. The percentage change shown by the dotted line is calculated from the two reported figures because the company did not provide the rate.
Net sales, operating profit and ordinary profit are expected to exceed the previous forecast because the recovery trend in railway operators' capital investment has continued and the order environment has remained stronger than assumed in the previous forecast. The impact of risks such as worsening conditions in the Middle East and rising raw material prices was also more limited than expected in the first half. Meanwhile, net profit attributable to owners of the parent is expected to fall below the previous forecast because gains on the sale of investment securities are expected to be lower than previously estimated based on the planned sale of cross-shareholdings.
| Item | Details |
|---|---|
| Net Sales | ¥25,700 million → ¥26,200 million（+1.9%） |
| Operating profit | ¥1,800 million → ¥2,060 million（+14.4%） |
| Ordinary income | ¥1,900 million → ¥2,310 million（+21.6%） |
| Profit attributable to owners of the parent | ¥1,900 million → ¥1,780 million（-6.3%） |
| Net income per share | 119.66 Yen → 126.42 Yen |
| Fiscal Period Covered | the fiscal year ending March 2027 |
| Period Covered | Full year |
| Publication date of previous forecast | 20 May 2026 |
| Previous-period results | Fiscal year ended March 2026: net sales ¥25,695 million, operating profit ¥2,187 million, ordinary profit ¥2,347 million, net profit attributable to owners of the parent ¥1,791 million, basic earnings per share ¥112.98 |
| Reason for the revision | Net sales, operating profit and ordinary profit are expected to exceed the previous forecast because the recovery trend in railway operators' capital investment has continued and the order environment has remained stronger than assumed in the previous forecast. The impact of risks such as worsening conditions in the Middle East and rising raw material prices was also more limited than expected in the first half. Meanwhile, net profit attributable to owners of the parent is expected to fall below the previous forecast because gains on the sale of investment securities are expected to be lower than previously estimated based on the planned sale of cross-shareholdings. |
| Dividend forecast revision | The year-end dividend forecast was increased by ¥2.00, from ¥36.00 to ¥38.00. The annual dividend forecast was increased from ¥36.00 to ¥38.00. |
| Consolidated / non-consolidated | Consolidated / non-consolidated (standalone) |
Items this document does not state (1)
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 forecasts for net sales, operating profit and ordinary profit were revised upward because the recovery in railway operators' capital investment and the order environment were stronger than expected, while the impact of risks such as worsening conditions in the Middle East and rising raw material prices was limited in the first half. Meanwhile, forecast net profit was revised downward because gains on the sale of investment securities are expected to fall below the previous estimate based on the planned sale of cross-shareholdings. The dividend was increased with reference to a consolidated payout ratio of at least 30%, taking into account the reduction in the number of shares eligible for dividends resulting from share repurchases.