Revised forecast
Fiscal year ending March 2026 · Full yearPrevious forecast published 9 May 2025The 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.
Although the timing of revenue recognition for certain projects has been revised to the following fiscal year or later, demand in the domestic bus and railway markets in the core transportation equipment business exceeded expectations. A provision for loss on orders received is expected to be recorded in connection with strategic projects, but the strong performance of domestic projects and ongoing cost reductions are expected to absorb the impact. Ordinary profit and net income attributable to owners of the parent are expected to exceed the previous forecast because, in addition to solid business activity, foreign exchange gains on foreign-currency-denominated assets are expected as a result of yen depreciation.
A provision for loss on orders received is expected to be recorded (amount not disclosed)
| Item | Details |
|---|---|
| Net Sales | ¥24,000 million → ¥23,800 million（△0.8%） |
| Operating profit | ¥1,100 million → ¥1,200 million（9.1%） |
| Ordinary income | ¥1,100 million → ¥1,500 million（36.4%） |
| Profit attributable to owners of the parent | ¥800 million → ¥1,100 million（37.5%） |
| Net income per share | 52.03 yen and sen → 71.27 yen and sen |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Period Covered | Full year |
| Publication date of previous forecast | 9 May 2025 |
| Previous-period results | Net sales: ¥25,931 million; operating profit: ¥3,531 million; ordinary profit: ¥3,483 million; net income attributable to owners of the parent: ¥2,255 million; earnings per share: ¥152.29 (fiscal year ended March 2025) |
| Reason for the revision | Although the timing of revenue recognition for certain projects has been revised to the following fiscal year or later, demand in the domestic bus and railway markets in the core transportation equipment business exceeded expectations. A provision for loss on orders received is expected to be recorded in connection with strategic projects, but the strong performance of domestic projects and ongoing cost reductions are expected to absorb the impact. Ordinary profit and net income attributable to owners of the parent are expected to exceed the previous forecast because, in addition to solid business activity, foreign exchange gains on foreign-currency-denominated assets are expected as a result of yen depreciation. |
| Details and amount of extraordinary loss | A provision for loss on orders received is expected to be recorded (amount not disclosed) |
| Dividend forecast revision | The year-end dividend has been increased from ¥20.00 to ¥24.00 per share. The annual dividend has also been increased from ¥20.00 to ¥24.00 per share. |
| Consolidated / non-consolidated | Consolidated |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Although the timing of revenue recognition for certain projects has been revised to the following fiscal year or later, demand in the domestic bus and railway markets in the core transportation equipment business exceeded expectations. While a provision for loss on orders received is expected to be recorded in connection with strategic projects, the strong performance of domestic projects and ongoing cost reductions are expected to absorb the impact. Ordinary profit and net income have been revised upward because, in addition to solid business activity, foreign exchange gains on foreign-currency-denominated assets are expected as a result of yen depreciation exceeding expectations. The DOE target has also been raised to enhance shareholder returns and capital efficiency, based on improved earnings capacity and a strong financial foundation.