Worth reading
54Recurring
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
53.8
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationFY2025 (fiscal year ending March 2026)9 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales162,278 Millions of yen+1.9%
Operating profit11,249 Millions of yen+53.8%
Ordinary income12,378 Millions of yen+52.8%
Net income8,765 Millions of yen+106.2%
Operating profit margin6.9% (4.5% in the previous fiscal year, up 2.4 percentage points year on year)
Results for the three months of the current quarterFourth quarter of FY2025: revenue of ¥44.2 billion, operating profit of ¥2.9 billion, and an operating margin of 6.6%. Japan recorded revenue of ¥18.8 billion and operating profit of ¥0.6 billion; the US, revenue of ¥12.2 billion and operating profit of ¥0.3 billion; Europe, revenue of ¥1.7 billion and operating profit of ¥0 billion; Asia, revenue of ¥7.2 billion and operating profit of ¥1.4 billion; and China, revenue of ¥4.2 billion and operating profit of ¥0.5 billion.
Full-year earnings forecastFY2026 (fiscal year ending March 2027), consolidated: revenue of ¥163.0 billion, operating profit of ¥11.7 billion, ordinary profit of ¥13.1 billion, and net income attributable to owners of the parent of ¥9.0 billion. Non-consolidated: revenue of ¥85.5 billion, operating profit of ¥4.0 billion, ordinary profit of ¥9.3 billion, and net income of ¥7.2 billion.
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Consolidated ordinary profit increased ¥4,277 million year on year. Selling-price improvements, foreign exchange effects and other factors contributed ¥2,234 million; productivity improvements and other factors contributed ¥68 million; and changes in fixed costs and other items reduced profit by ¥1,021 million.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Foreign exchange assumptions (December 2025 → December 2026): USD/JPY 156.54 → 158.5, THB/JPY 4.95 → 4.95, CNY/JPY 22.37 → 22.99, CZK/JPY 7.6 → 7.52, IDR/JPY 0.0093 → 0.0094, VND/JPY 0.006 → 0.0061, and EUR/JPY 184.26 → 183.49. The latest sales plans collected from customers are also included among the assumptions.Key KPIsA metric the company considers important as a management benchmark.
ROE: 17.2% in FY2025 and 16.3% forecast for FY2026. PBR: 0.9x forecast for FY2025 and 1.0x forecast for FY2026. The US business returned to profitability for the first time in seven periods.Segment results
Japan: revenue of ¥74,712 million (up ¥2,763 million year on year) and operating profit of ¥3,957 million (up ¥1,264 million). US: revenue of ¥43,946 million (down ¥538 million) and operating profit of ¥591 million (up ¥1,169 million). Europe: revenue of ¥5,667 million (up ¥792 million) and operating profit of ¥35 million (down ¥11 million). Asia: revenue of ¥24,299 million (up ¥2,211 million) and operating profit of ¥5,044 million (up ¥790 million). China: revenue of ¥13,330 million (down ¥2,205 million) and operating profit of ¥1,402 million (up ¥747 million). Other: revenue of ¥322 million (up ¥18 million) and operating profit of ¥216 million (down ¥29 million).Financial targets
ROE: 17.2% actual for FY2025 and 16.3% forecast for FY2026.Capital expenditures
FY2025 actual: ¥7,650 million; FY2026 forecast: ¥9,807 million. A separate table states ¥7,381 million for FY2025.Annual Dividend
FY2026 forecast: ¥800 per share (¥400 interim and ¥400 year-end). FY2025 forecast: ¥560 per share (¥160 interim and ¥400 year-end).Payout ratio
FY2026 forecast: 51%. Total payout ratio: 51%; DOE: 8.3%.Acquisition of treasury shares
FY2025 actual: ¥4,294 million. FY2026 forecast: ¥0 million. Repurchase period: Not disclosed.| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | FY2025 (fiscal year ending March 2026) |
| Net Sales | 162,278 Millions of yen (YoY +1.9%) |
| Operating profit | 11,249 Millions of yen (YoY +53.8%) |
| Ordinary income | 12,378 Millions of yen (YoY +52.8%) |
| Net income | 8,765 Millions of yen (YoY +106.2%) |
| Operating profit margin | 6.9% (4.5% in the previous fiscal year, up 2.4 percentage points year on year) |
| Results for the three months of the current quarter | Fourth quarter of FY2025: revenue of ¥44.2 billion, operating profit of ¥2.9 billion, and an operating margin of 6.6%. Japan recorded revenue of ¥18.8 billion and operating profit of ¥0.6 billion; the US, revenue of ¥12.2 billion and operating profit of ¥0.3 billion; Europe, revenue of ¥1.7 billion and operating profit of ¥0 billion; Asia, revenue of ¥7.2 billion and operating profit of ¥1.4 billion; and China, revenue of ¥4.2 billion and operating profit of ¥0.5 billion. |
| Full-year earnings forecast | FY2026 (fiscal year ending March 2027), consolidated: revenue of ¥163.0 billion, operating profit of ¥11.7 billion, ordinary profit of ¥13.1 billion, and net income attributable to owners of the parent of ¥9.0 billion. Non-consolidated: revenue of ¥85.5 billion, operating profit of ¥4.0 billion, ordinary profit of ¥9.3 billion, and net income of ¥7.2 billion. |
| Segment results | Japan: revenue of ¥74,712 million (up ¥2,763 million year on year) and operating profit of ¥3,957 million (up ¥1,264 million). US: revenue of ¥43,946 million (down ¥538 million) and operating profit of ¥591 million (up ¥1,169 million). Europe: revenue of ¥5,667 million (up ¥792 million) and operating profit of ¥35 million (down ¥11 million). Asia: revenue of ¥24,299 million (up ¥2,211 million) and operating profit of ¥5,044 million (up ¥790 million). China: revenue of ¥13,330 million (down ¥2,205 million) and operating profit of ¥1,402 million (up ¥747 million). Other: revenue of ¥322 million (up ¥18 million) and operating profit of ¥216 million (down ¥29 million). |
| Breakdown of Factors Affecting the Change | Consolidated ordinary profit increased ¥4,277 million year on year. Selling-price improvements, foreign exchange effects and other factors contributed ¥2,234 million; productivity improvements and other factors contributed ¥68 million; and changes in fixed costs and other items reduced profit by ¥1,021 million. |
| Key KPIs | ROE: 17.2% in FY2025 and 16.3% forecast for FY2026. PBR: 0.9x forecast for FY2025 and 1.0x forecast for FY2026. The US business returned to profitability for the first time in seven periods. |
| Assumptions Underlying the Business Outlook | Foreign exchange assumptions (December 2025 → December 2026): USD/JPY 156.54 → 158.5, THB/JPY 4.95 → 4.95, CNY/JPY 22.37 → 22.99, CZK/JPY 7.6 → 7.52, IDR/JPY 0.0093 → 0.0094, VND/JPY 0.006 → 0.0061, and EUR/JPY 184.26 → 183.49. The latest sales plans collected from customers are also included among the assumptions. |
| Financial targets | ROE: 17.2% actual for FY2025 and 16.3% forecast for FY2026. |
| Annual Dividend | FY2026 forecast: ¥800 per share (¥400 interim and ¥400 year-end). FY2025 forecast: ¥560 per share (¥160 interim and ¥400 year-end). |
| Payout ratio | FY2026 forecast: 51%. Total payout ratio: 51%; DOE: 8.3%. |
| Acquisition of treasury shares | FY2025 actual: ¥4,294 million. FY2026 forecast: ¥0 million. Repurchase period: Not disclosed. |
| Capital expenditures | FY2025 actual: ¥7,650 million; FY2026 forecast: ¥9,807 million. A separate table states ¥7,381 million for FY2025. |
Items this document does not state (13)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsOrders received and order backlogMarket Size / ShareKey points of the Q&ANew initiatives
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 company cited higher profitability in the domestic business, improved profitability in the US and China, increased profit in ASEAN, the absence of new quality-related and other provisions recognized in the previous fiscal year, and the effects of cost-reduction initiatives.
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