Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
5281
¥ millionWording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales82,670¥ millionYear on year +13.9%Progress 47.8%
Operating profit16,053¥ millionYear on year +49.0%Progress 50.2%
Ordinary income15,982¥ millionYear on year +40.5%Progress 49.9%
Net income attributable to owners of the parent12,073¥ millionYear on year +47.3%
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¥173.71
Financial position at period-end
Total assets285,271¥ million
of which net assets 151,068 ¥ millionEquity ratio 52.7%vs. prior year-end +1.4pt
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+20,465
Investment-6,070
Financials-4,190
Net change+10,205
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¥129,325 million
Segment revenueNew vessels ¥64,505 million (YoY +11.6%), Repair Vessels ¥10,735 million (YoY +21.5%), Steel Structures and Machinery ¥3,916 million (YoY +35.2%), Other ¥3,514 million (YoY +14.0%)
Segment profitNew vessels ¥16,407 million (YoY +48.5%), Repair Vessels ¥593 million (YoY -16.7%), Steel Structures and Machinery ¥414 million (YoY +151.9%), Other ¥523 million (YoY +30.8%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥173,000 million (YoY +8.8%)
Operating profit¥32,000 million (YoY +13.9%)
Ordinary income¥32,000 million (YoY +8.3%)
Profit attributable to owners of parent¥23,000 million (YoY +6.5%)
Revision to Earnings ForecastNot disclosed → Net Sales ¥173,000 million / Operating profit ¥32,000 million / Ordinary income ¥32,000 million / Profit attributable to owners of parent ¥23,000 million
Annual Dividend Forecast¥50 → ¥70
Factors Behind Changes in Business Performance
The weaker yen, the shift toward a product mix centered on large bulk carriers, high operating rates, shorter dry-dock and outfitting periods, and the review of the supply chain contributed to higher sales and profits. Repair vessels have lower profit margins, resulting in lower profit.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 None
Changes in the scope of consolidationNew — companies / Excluded — companies / Company name Not disclosed
Impairment lossNone (impairment loss on fixed assets)
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities ¥1,399 million / Extraordinary loss Not disclosed
Depreciation and amortization¥1,999 million
Orders received and order backlogOrders received Not disclosed / Order backlog New vessels ¥473,217 million (YoY +9.4%), Repair Vessels ¥12,485 million (YoY +26.4%), Steel Structures and Machinery ¥10,817 million (YoY +95.6%), Other ¥1,569 million (YoY -7.1%)
Availability of Supplementary Financial Results MaterialsNone
Availability of Financial Results BriefingYes (for institutional investors and securities analysts)
Issued Shares at Period-End69,555,351
Treasury Shares at Period-End5,864
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 September 2026 |
| Net Sales | ¥82,670 million (YoY +13.9%) |
| Operating profit | ¥16,053 million (YoY +49.0%) |
| Ordinary income | ¥15,982 million (YoY +40.5%) |
| Profit attributable to owners of the parent | ¥12,073 million (YoY +47.3%) |
| Net income per share | ¥173.71 |
| Equity ratio | End of the current fiscal period 52.7 / End of previous period 51.3 |
| Total assets | ¥285,271 million |
| Net assets | ¥151,068 million |
| Cash flows from operating activities | ¥20,465 million |
| Cash flows from investing activities | ¥-6,070 million |
| Cash flows from financing activities | ¥-4,190 million |
| Cash and cash equivalents at end of period | ¥129,325 million |
| Full-year earnings forecast | Net Sales ¥173,000 million (YoY +8.8%) / Operating profit ¥32,000 million (YoY +13.9%) / Ordinary income ¥32,000 million (YoY +8.3%) / Profit attributable to owners of parent ¥23,000 million (YoY +6.5%) |
| Revision to Earnings Forecast | Not disclosed → Net Sales ¥173,000 million / Operating profit ¥32,000 million / Ordinary income ¥32,000 million / Profit attributable to owners of parent ¥23,000 million |
| Annual Dividend Forecast | ¥50 → ¥70 |
| Segment revenue | New vessels ¥64,505 million (YoY +11.6%), Repair Vessels ¥10,735 million (YoY +21.5%), Steel Structures and Machinery ¥3,916 million (YoY +35.2%), Other ¥3,514 million (YoY +14.0%) |
| Segment profit | New vessels ¥16,407 million (YoY +48.5%), Repair Vessels ¥593 million (YoY -16.7%), Steel Structures and Machinery ¥414 million (YoY +151.9%), Other ¥523 million (YoY +30.8%) |
| Orders received and order backlog | Orders received Not disclosed / Order backlog New vessels ¥473,217 million (YoY +9.4%), Repair Vessels ¥12,485 million (YoY +26.4%), Steel Structures and Machinery ¥10,817 million (YoY +95.6%), Other ¥1,569 million (YoY -7.1%) |
| Depreciation and amortization | ¥1,999 million |
| Impairment loss | None (impairment loss on fixed assets) |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities ¥1,399 million / Extraordinary loss Not disclosed |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement None |
| Changes in the scope of consolidation | New — companies / Excluded — companies / Company name Not disclosed |
| Availability of Supplementary Financial Results Materials | None |
| Availability of Financial Results Briefing | Yes (for institutional investors and securities analysts) |
| Issued Shares at Period-End | 69,555,351 |
| Treasury Shares at Period-End | 5,864 |
| Factors Behind Changes in Business Performance | The weaker yen, the shift toward a product mix centered on large bulk carriers, high operating rates, shorter dry-dock and outfitting periods, and the review of the supply chain contributed to higher sales and profits. Repair vessels have lower profit margins, resulting in lower profit. |
Items this document does not state (5)
Operating MarginPayout ratioShareholder Return PolicyRegional salesMaterial subsequent events
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.This was due to the continued shift toward a product mix centered on large bulk carriers, high operating rates, shorter dry-dock and post-launch outfitting periods, and progress in reviewing the supply chain, in addition to the weaker yen. Despite the impact of higher materials prices and labor costs, sales and profits increased.
How to read this page
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