Worth reading
58In 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
-5.9
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales70,034¥ millionYear on year +4.1%Progress 95.9%
Operating profit7,084¥ millionYear on year -5.9%Progress 88.6%
Ordinary income7,473¥ millionYear on year -4.1%Progress 92.3%
Net income attributable to owners of the parent5,879¥ millionYear on year -2.1%Progress 100.0%
The 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.
Net income per share¥270.39
Operating Margin10.1%
Financial position at period-end
Total assets82,922¥ million
of which net assets 61,401 ¥ millionEquity ratio 74.0%vs. prior year-end -0.7pt
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.
Cash inflows and outflows
Operating+5,052
Investment-273
Financials-3,880
Net change+899
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.
Cash and cash equivalents at end of period¥14,695 million
Segment revenueEquipment business ¥59,468 million (YoY +3.4%), Services Business ¥8,327 million (YoY -1.2%), Other Businesses ¥2,747 million (YoY +56.3%)
Segment profitEquipment business ¥6,606 million (YoY -0.1%), Services Business ¥228 million (YoY -71.2%), Other Businesses ¥239 million (YoY +88.7%)
Regional sales¥34,359 million, ¥11,622 million, ¥12,028 million, ¥8,635 million, ¥3,389 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥73,000 million (YoY +4.2%)
Operating profit¥8,000 million (YoY +12.9%)
Ordinary income¥8,100 million (YoY +8.4%)
Net income¥5,880 million (YoY 0.0%)
Annual Dividend Forecast¥95 → ¥115
Payout ratio42.5% (actual for the current fiscal year), 41.8% (forecast for the next fiscal year)
Shareholder Return PolicyA consolidated dividend payout ratio of at least 40%, a total payout ratio of at least 50% over a cumulative three-year period, and no dividend cuts during the period covered by the current medium-term management plan
Factors Behind Changes in Business Performance
Demand for testing expanded in the AI semiconductor and North American satellite communications sectors, while demand for testing for EVs and batteries declined in the automotive sector. Revenue remained strong in Japan, North America and Southeast Asia, but intensified competition in the Chinese market, deteriorating profitability in contract testing services and higher SG&A expenses associated with the increase in orders received weighed on profit.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 companies / Excluded 0 companies / Company name None
Material subsequent eventsNot applicable.
Impairment loss¥223 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥3 million, Gain on sale of investment securities ¥872 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥46 million, Impairment Losses ¥223 million, Loss on sale of fixed assets ¥2 million
Depreciation and amortization¥1,960 million
Orders received and order backlogOrders received ¥72,596 million / Order backlog Not disclosed
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person Institutional investors
Issued Shares at Period-End23,781,394
Treasury Shares at Period-End2,412,636
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥70,034 million (YoY +4.1%) |
| Operating profit | ¥7,084 million (YoY -5.9%) |
| Ordinary income | ¥7,473 million (YoY -4.1%) |
| Profit attributable to owners of the parent | ¥5,879 million (YoY -2.1%) |
| Net income per share | ¥270.39 |
| Operating Margin | 10.1% |
| Equity ratio | End of the current fiscal period 74.0% / End of previous period 74.7% |
| Total assets | ¥82,922 million |
| Net assets | ¥61,401 million |
| Cash flows from operating activities | ¥5,052 million |
| Cash flows from investing activities | ¥-273 million |
| Cash flows from financing activities | ¥-3,880 million |
| Cash and cash equivalents at end of period | ¥14,695 million |
| Full-year earnings forecast | Net Sales ¥73,000 million (YoY +4.2%) / Operating profit ¥8,000 million (YoY +12.9%) / Ordinary income ¥8,100 million (YoY +8.4%) / Net income ¥5,880 million (YoY 0.0%) |
| Annual Dividend Forecast | ¥95 → ¥115 |
| Payout ratio | 42.5% (actual for the current fiscal year), 41.8% (forecast for the next fiscal year) |
| Shareholder Return Policy | A consolidated dividend payout ratio of at least 40%, a total payout ratio of at least 50% over a cumulative three-year period, and no dividend cuts during the period covered by the current medium-term management plan |
| Segment revenue | Equipment business ¥59,468 million (YoY +3.4%), Services Business ¥8,327 million (YoY -1.2%), Other Businesses ¥2,747 million (YoY +56.3%) |
| Segment profit | Equipment business ¥6,606 million (YoY -0.1%), Services Business ¥228 million (YoY -71.2%), Other Businesses ¥239 million (YoY +88.7%) |
| Regional sales | ¥34,359 million, ¥11,622 million, ¥12,028 million, ¥8,635 million, ¥3,389 million |
| Orders received and order backlog | Orders received ¥72,596 million / Order backlog Not disclosed |
| Depreciation and amortization | ¥1,960 million |
| Impairment loss | ¥223 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥3 million, Gain on sale of investment securities ¥872 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥46 million, Impairment Losses ¥223 million, Loss on sale of fixed assets ¥2 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / 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 | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Institutional investors |
| Issued Shares at Period-End | 23,781,394 |
| Treasury Shares at Period-End | 2,412,636 |
| Factors Behind Changes in Business Performance | Demand for testing expanded in the AI semiconductor and North American satellite communications sectors, while demand for testing for EVs and batteries declined in the automotive sector. Revenue remained strong in Japan, North America and Southeast Asia, but intensified competition in the Chinese market, deteriorating profitability in contract testing services and higher SG&A expenses associated with the increase in orders received weighed on profit. |
Items this document does not state (1)
Revision to Earnings Forecast
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.Although profitability improved for custom products, operating profit declined due to deteriorating profitability in the Chinese market and contract testing services, as well as higher SG&A expenses mainly associated with the increase in orders received.
How to read this page
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