Worth reading
50Recurring
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
29
¥100 million (increase in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFiscal year ending March 2026, full year7 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥3,485 100 million-0.2%
Operating profit¥239 100 million+14.2%
Ordinary income¥239 100 million+21.0%
Net income¥118 100 million-0.4%
Operating profit margin6.9 %
Results for the three months of the current quarter
Net Sales
¥949 100 million
comparison103.2% year on year, 109.9% quarter on quarter
Operating profit
¥78 100 million
comparison147.3% year on year, 128.0% quarter on quarter
Full-year earnings forecast
Fiscal Period CoveredFiscal year ending March 2027
Net Sales
¥3,400 100 million
Operating profit
¥190 100 million
Ordinary income
¥185 100 million
Profit for the period
¥115 100 million
Operating profit margin
5.5 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Revenue impact¥17 100 million
- Impact of material cost ratio¥16 100 million
- Increase in wages, salaries and other costs¥-24 100 million
- Increase in retirement benefit expenses and other costs¥-8 100 million
- Decline in Depreciation Expense¥18 100 million
- Lower logistics costs¥10 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- USD exchange rateFiscal year ending March 2026150.68Fiscal year ending March 2027150
- EUR exchange rateFiscal year ending March 2026174.69Fiscal year ending March 2027175
- CNY exchange rateFiscal year ending March 202621.23Fiscal year ending March 202721
New initiatives
- Establishment of a New Business Office responsible for acquiring growth businesses outside the automotive industry
- Agreement with 東洋電機製造 and 泰平電機 for the joint development of electric door systems for next-generation mobility
- Strengthening technical collaboration through an investment in KGモーターズ株式会社
Key KPIsA metric the company considers important as a management benchmark.
- Two-wheel vehicle salesYear on year against the same period last year+9.0%
- Four-wheel vehicle salesYear on year against the same period last year-5.0%
- Revenue by customerHonda 1,469, TierN 859, etc.Year on year against the same period last yearHonda 103.6%, TierN 100.2%, etc.
- Revenue by businessFour-wheel vehicles 1,834, two-wheel vehicles 1,104, electrification solutions 406Year on year against the same period last yearFour-wheel vehicles 96.1%, two-wheel vehicles 105.6%, electrification solutions 102.5%
- Equity ratio34.4 %Year on year against the same period last yearIncreased from 28.7%
- Net debt-to-equity ratio0.3 timesYear on year against the same period last yearDecreased from 0.6 times
Segment results
- Transportation Equipment-Related BusinessNet Sales¥3,200 100 millionOperating profit¥200 100 millionYear-on-year operating profit10.6
- Information Services BusinessNet Sales¥232 100 millionOperating profit¥29 100 millionYear-on-year operating profit38.3
- Other BusinessesNet Sales¥52 100 millionOperating profit¥8 100 millionYear-on-year operating profit37.1
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
¥14 100 million
DetailsEstimated direct impact of U.S. tariffs
Annual Dividend
Fiscal year ending March 2026
Annual¥25 per share
Breakdown
Interim0
End of period25
Forecast for the fiscal year ending March 2027
Annual¥30 per share
Breakdown
Interim0
End of period30
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥3,485 100 million (YoY -0.2%) |
| Operating profit | ¥239 100 million (YoY +14.2%) |
| Ordinary income | ¥239 100 million (YoY +21.0%) |
| Net income | ¥118 100 million (YoY -0.4%) |
| Operating profit margin | 6.9 % |
| Results for the three months of the current quarter | Net Sales ¥949 100 million / Operating profit ¥78 100 million |
| Full-year earnings forecast | Fiscal Period Covered Fiscal year ending March 2027 / Net Sales ¥3,400 100 million / Operating profit ¥190 100 million / Ordinary income ¥185 100 million / Profit for the period ¥115 100 million / Operating profit margin 5.5 % |
| Segment results | Segment Transportation Equipment-Related Business / Net Sales ¥3,200 100 million / Operating profit ¥200 100 million / Year-on-year operating profit 10.6, Segment Information Services Business / Net Sales ¥232 100 million / Operating profit ¥29 100 million / Year-on-year operating profit 38.3, Segment Other Businesses / Net Sales ¥52 100 million / Operating profit ¥8 100 million / Year-on-year operating profit 37.1 |
| Breakdown of Factors Affecting the Change | Factors Revenue impact / Amount ¥17 100 million, Factors Impact of material cost ratio / Amount ¥16 100 million, Factors Increase in wages, salaries and other costs / Amount ¥-24 100 million, Factors Increase in retirement benefit expenses and other costs / Amount ¥-8 100 million, Factors Decline in Depreciation Expense / Amount ¥18 100 million, Factors Lower logistics costs / Amount ¥10 100 million |
| Key KPIs | Indicator Two-wheel vehicle sales / Value Not disclosed / Year on year against the same period last year 9 Year on year, Indicator Four-wheel vehicle sales / Value Not disclosed / Year on year against the same period last year -5 Year on year, Indicator Revenue by customer / Value Honda 1,469, TierN 859, etc. / Year on year against the same period last year Honda 103.6%, TierN 100.2%, etc., Indicator Revenue by business / Value Four-wheel vehicles 1,834, two-wheel vehicles 1,104, electrification solutions 406 / Year on year against the same period last year Four-wheel vehicles 96.1%, two-wheel vehicles 105.6%, electrification solutions 102.5%, Indicator Equity ratio / Value 34.4 % / Year on year against the same period last year Increased from 28.7%, Indicator Net debt-to-equity ratio / Value 0.3 times / Year on year against the same period last year Decreased from 0.6 times |
| Assumptions Underlying the Business Outlook | Item USD exchange rate / Fiscal year ending March 2026 ¥150.68 / Fiscal year ending March 2027 ¥150, Item EUR exchange rate / Fiscal year ending March 2026 ¥174.69 / Fiscal year ending March 2027 ¥175, Item CNY exchange rate / Fiscal year ending March 2026 ¥21.23 / Fiscal year ending March 2027 ¥21 |
| Risk amount incorporated into the outlook | Amount ¥14 100 million / Details Estimated direct impact of U.S. tariffs |
| Annual Dividend | Fiscal year ending March 2026 Annual ¥25 per share / Breakdown Interim 0 / End of period 25 / Forecast for the fiscal year ending March 2027 Annual ¥30 per share / Breakdown Interim 0 / End of period 30 |
| New initiatives | Establishment of a New Business Office responsible for acquiring growth businesses outside the automotive industry, Agreement with 東洋電機製造 and 泰平電機 for the joint development of electric door systems for next-generation mobility, Strengthening technical collaboration through an investment in KGモーターズ株式会社 |
Items this document does not state (15)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesMedium-term management plan targetsFinancial targetsPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket 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 company attributed the decline in revenue for the fiscal year ended March 2026 to lower sales in the four-wheel vehicle business, particularly in China, and the foreign exchange impact of the stronger yen. The reasons for the increase in operating profit were higher revenue in the two-wheel vehicle business, increased earnings in the information services business, and various cost-saving initiatives. Factors behind the expected decline in revenue and profit for the fiscal year ending March 2027 include sluggish automobile sales by major customers, including those in China, and higher material costs amid the situation in the Middle East and other factors.
How to read this page
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