Worth reading
70In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
31.3
% (year-on-year decline in operating profit for the fiscal year ending March 2027)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedIFRSNet Sales481,529¥ millionYear on year +9.9%Progress 98.4%
Operating profit34,932¥ millionYear on year +54.1%Progress 145.6%
Ordinary income34,928¥ millionYear on year +58.8%Progress 158.8%
Net income attributable to owners of the parent29,036¥ millionYear on year +94.9%Progress 181.5%
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¥631.99
Operating Margin7.3%
Financial position at period-end
Total assets493,726¥ million
of which net assets 259,904 ¥ millionEquity ratio 50.6%vs. prior year-end +1.9pt
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+19,506
Investment-6,616
Financials-12,320
Net change+570
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¥50,176 million
Segment revenueAC Business ¥344,066 million (YoY +11.8%), HC business ¥123,869 million (YoY +6.6%), Aircraft Equipment Business ¥6,721 million (YoY +82.7%)
Segment profitAC Business ¥23,358 million, HC business ¥4,461 million, Aircraft Equipment Business ¥440 million
Regional sales¥184,101 million, ¥100,713 million, ¥55,842 million, ¥29,483 million, ¥33,403 million, ¥77,988 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥489,500 million (YoY +1.7%)
Operating profit¥24,000 million (YoY -31.3%)
Ordinary income¥22,000 million (YoY -37.0%)
Net income¥16,000 million (YoY -44.9%)
Annual Dividend Forecast¥156 per share (before taking the stock split into account) → ¥162 per share (before taking the stock split into account)（+3.8%）
Payout ratio24.7% (actual for the fiscal year ended March 2026), 41.3% (forecast for the fiscal year ending March 2027)
Shareholder Return PolicyThe Company aims to provide stable and sustained dividends, targeting a consolidated payout ratio of 30% or more.
Factors Behind Changes in Business Performance
Firm demand for automotive products and steady production, shipments of products for construction machinery exceeding initial expectations despite the impact of U.S. tariff policies, and recognition of a gain on negative goodwill arising from the acquisition of Chita Kogyo Co., Ltd. as a wholly owned subsidiary.
Disclosure regarding the going concern assumption
No applicable matters
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 Not disclosed
Changes in the scope of consolidationNew Number of companies 4 / Company name 知多鋼業株式会社 and 2 subsidiaries, and KYB India Private Limited / Excluded Number of companies 0 / Company name Not disclosed
Material subsequent eventsCancellation of 9,869,864 treasury shares, acquisition and cancellation of 125 Class A preferred shares, a stock split under which 1 common share was split into 3 shares, and amendments to the Articles of Incorporation
Impairment loss¥6,332 million
Breakdown of extraordinary income (loss)Gain on bargain purchase ¥6,148 million, Impairment Losses ¥6,332 million
Depreciation and amortization¥19,428 million
Availability of Financial Results BriefingHeld (対象者：Not disclosed)
Issued Shares at Period-End50,468,662 Shares
Treasury Shares at Period-End7,299,011 Shares
Supplementary financial results materialsYes
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥481,529 million (YoY +9.9%) |
| Operating profit | ¥34,932 million (YoY +54.1%) |
| Ordinary income | ¥34,928 million (YoY +58.8%) |
| Profit attributable to owners of the parent | ¥29,036 million (YoY +94.9%) |
| Net income per share | ¥631.99 |
| Operating Margin | 7.3% |
| Equity ratio | End of the current fiscal period 50.6% / End of previous period 48.7% |
| Total assets | ¥493,726 million |
| Net assets | ¥259,904 million |
| Cash flows from operating activities | ¥19,506 million |
| Cash flows from investing activities | ¥-6,616 million |
| Cash flows from financing activities | ¥-12,320 million |
| Cash and cash equivalents at end of period | ¥50,176 million |
| Full-year earnings forecast | Net Sales ¥489,500 million (YoY +1.7%) / Operating profit ¥24,000 million (YoY -31.3%) / Ordinary income ¥22,000 million (YoY -37.0%) / Net income ¥16,000 million (YoY -44.9%) |
| Annual Dividend Forecast | ¥156 per share (before taking the stock split into account) → ¥162 per share (before taking the stock split into account)（+3.8%） |
| Payout ratio | 24.7% (actual for the fiscal year ended March 2026), 41.3% (forecast for the fiscal year ending March 2027) |
| Shareholder Return Policy | The Company aims to provide stable and sustained dividends, targeting a consolidated payout ratio of 30% or more. |
| Segment revenue | AC Business ¥344,066 million (YoY +11.8%), HC business ¥123,869 million (YoY +6.6%), Aircraft Equipment Business ¥6,721 million (YoY +82.7%) |
| Segment profit | AC Business ¥23,358 million, HC business ¥4,461 million, Aircraft Equipment Business ¥440 million |
| Regional sales | ¥184,101 million, ¥100,713 million, ¥55,842 million, ¥29,483 million, ¥33,403 million, ¥77,988 million |
| Depreciation and amortization | ¥19,428 million |
| Impairment loss | ¥6,332 million |
| Breakdown of extraordinary income (loss) | Gain on bargain purchase ¥6,148 million, Impairment Losses ¥6,332 million |
| Disclosure regarding the going concern assumption | No applicable matters |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement Not disclosed |
| Changes in the scope of consolidation | New Number of companies 4 / Company name 知多鋼業株式会社 and 2 subsidiaries, and KYB India Private Limited / Excluded Number of companies 0 / Company name Not disclosed |
| Material subsequent events | Cancellation of 9,869,864 treasury shares, acquisition and cancellation of 125 Class A preferred shares, a stock split under which 1 common share was split into 3 shares, and amendments to the Articles of Incorporation |
| Supplementary financial results materials | Yes |
| Availability of Financial Results Briefing | Held (対象者：Not disclosed) |
| Issued Shares at Period-End | 50,468,662 Shares |
| Treasury Shares at Period-End | 7,299,011 Shares |
| Factors Behind Changes in Business Performance | Firm demand for automotive products and steady production, shipments of products for construction machinery exceeding initial expectations despite the impact of U.S. tariff policies, and recognition of a gain on negative goodwill arising from the acquisition of Chita Kogyo Co., Ltd. as a wholly owned subsidiary. |
Items this document does not state (2)
Revision to Earnings ForecastOrders received and order backlog
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.During the fiscal year, demand for automotive products remained firm, and shipments of products for construction machinery exceeded initial expectations despite the impact of U.S. tariff policies. In addition, the Company recognized a gain on negative goodwill arising from the acquisition of Chita Kogyo Co., Ltd. as a wholly owned subsidiary. For the next fiscal year, amid expectations of uncertainty in the global economy and geopolitical risks, no significant increase in demand is expected in either the AC or HC business.
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