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
60
¥100 millionWording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFY2026 second quarter9 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,750 100 million
Operating profit¥207 100 million
Ordinary income¥240 100 million
Net income¥174 100 million
Operating profit margin11.9%, down 0.1 percentage points in real terms year on year (shown as “-” in the source material)
Full-year earnings forecast
Orders received
¥3,700 100 million
Net Sales
¥3,700 100 million
Operating profit
¥400 100 million
Ordinary income
¥460 100 million
Profit attributable to owners of the parent
¥330 100 million
Free CF
¥140 100 million
Interest-bearing debt
¥950 100 million
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。
Orders received43%
Net Sales47%
Operating profit52%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Orders received and revenue were generally in line with plan company-wide, while operating profit was revised upward substantiallyAssumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Assumed exchange rateUS$1 = ¥152
Foreign-exchange sensitivityA ¥1 change in the US dollar exchange rate has virtually no impact on operating profit
New initiatives
- First order for 6 LNG dual-fuel engines for an Indian shipyard
- Launch of sales and commercialisation of a thrust measurement system
- Ending the parent-subsidiary dual listing through the transfer of 加地テック shares
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥1,580 100 millionYear on year against the same period last year+¥12.0 billion
- Order backlog (marine engines)350 10,000 hpYear on year against the same period last year-180,000 horsepower
- Production volume (marine engines)66 unitsYear on year against the same period last year-3 units
- Consolidated headcount6,081 peopleYear on year against the same period last year+20 people
Segment results
Growth Business Promotion
Orders received
¥218 100 million
Year on year against the same period last year+¥1.8 billion
Net Sales
¥229 100 million
Year on year against the same period last year+¥5.0 billion
Operating profit
¥52 100 million
Year on year against the same period last year+¥2.3 billion
Marine Propulsion Systems
Orders received
¥812 100 million
Year on year against the same period last year+¥18.4 billion
Net Sales
¥727 100 million
Year on year against the same period last year-¥2.4 billion
Operating profit
¥56 100 million
Year on year against the same period last year-¥3.4 billion
Logistics Systems
Orders received
¥197 100 million
Year on year against the same period last year-¥13.1 billion
Net Sales
¥333 100 million
Year on year against the same period last year+¥2.2 billion
Operating profit
¥78 100 million
Year on year against the same period last year+¥1.1 billion
Adjacent Services
Orders received
¥352 100 million
Year on year against the same period last year+¥4.9 billion
Net Sales
¥460 100 million
Year on year against the same period last year+¥4.7 billion
Operating profit
¥27 100 million
Year on year against the same period last year+¥1 billion
Other
Orders received
¥1 100 million
Year on year against the same period last year-¥0.0 billion
Net Sales
¥1 100 million
Year on year against the same period last year-¥0.0 billion
Operating profit
¥-5 100 million
Year on year against the same period last year-¥0.0 billion
Orders received and order backlog
Orders received
¥1,580 100 million
Marine Engine Order Backlog
135 units
Horsepower of Marine Engine Order Backlog
350 10,000 hp
Number of employees
Number of Employees6,081 people
Capital expenditures
¥35 billion FY2026 second-quarter results
Acquisition of treasury shares
The subsidiary 加地テック plans to acquire treasury shares around March 2027. The treasury share acquisition price is planned at ¥5,988 per share, and the planned transfer price from the company is ¥5,057 million| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | FY2026 second quarter |
| Net Sales | ¥1,750 100 million |
| Operating profit | ¥207 100 million |
| Ordinary income | ¥240 100 million |
| Net income | ¥174 100 million |
| Operating profit margin | 11.9%, down 0.1 percentage points in real terms year on year (shown as “-” in the source material) |
| Full-year earnings forecast | Orders received ¥3,700 100 million / Net Sales ¥3,700 100 million / Operating profit ¥400 100 million / Ordinary income ¥460 100 million / Profit attributable to owners of the parent ¥330 100 million / Free CF ¥140 100 million / Interest-bearing debt ¥950 100 million |
| Progress against full-year forecast | Orders received 43% / Net Sales 47% / Operating profit 52% |
| Self-assessment against the plan | Orders received and revenue were generally in line with plan company-wide, while operating profit was revised upward substantially |
| Segment results | Growth Business Promotion Orders received ¥218 100 million / Net Sales ¥229 100 million / Operating profit ¥52 100 million / Marine Propulsion Systems Orders received ¥812 100 million / Net Sales ¥727 100 million / Operating profit ¥56 100 million / Logistics Systems Orders received ¥197 100 million / Net Sales ¥333 100 million / Operating profit ¥78 100 million / Adjacent Services Orders received ¥352 100 million / Net Sales ¥460 100 million / Operating profit ¥27 100 million / Other Orders received ¥1 100 million / Net Sales ¥1 100 million / Operating profit ¥-5 100 million |
| Key KPIs | Indicator Orders received / Value ¥1,580 100 million / Year on year against the same period last year +¥12.0 billion, Indicator Order backlog (marine engines) / Value 350 10,000 hp / Year on year against the same period last year -180,000 horsepower, Indicator Production volume (marine engines) / Value 66 units / Year on year against the same period last year -3 units, Indicator Consolidated headcount / Value 6,081 people / Year on year against the same period last year +20 people |
| Number of employees | Number of Employees 6,081 people / Change during the period Not disclosed / Hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | Assumed exchange rate US$1 = ¥152 / Foreign-exchange sensitivity A ¥1 change in the US dollar exchange rate has virtually no impact on operating profit |
| Acquisition of treasury shares | The subsidiary 加地テック plans to acquire treasury shares around March 2027. The treasury share acquisition price is planned at ¥5,988 per share, and the planned transfer price from the company is ¥5,057 million |
| Capital expenditures | ¥35 billion (FY2026 second-quarter results) |
| Orders received and order backlog | Orders received ¥1,580 100 million / Marine Engine Order Backlog 135 units / Horsepower of Marine Engine Order Backlog 350 10,000 hp |
| New initiatives | First order for 6 LNG dual-fuel engines for an Indian shipyard, Launch of sales and commercialisation of a thrust measurement system, Ending the parent-subsidiary dual listing through the transfer of 加地テック shares |
Items this document does not state (13)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioMarket 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.The gas turbine after-sales business and other operations in the Growth Business Promotion segment performed steadily, while difficult construction projects in the Logistics Systems segment progressed smoothly and are expected to improve project profitability. In the Marine Propulsion Systems segment, development and launch costs for new-model products increased more than expected, resulting in a ¥1.0 billion downward revision to the operating profit forecast.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.