Worth reading
77Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-26.8
% (full-year consolidated net income attributable to owners of the parent)Wording
Conditional
How definitive the wording is.Revised forecast
Fiscal year ending March 2027 · Second quarter (interim period) and full yearPrevious forecast published 15 May 2026Net SalesInterim period—consolidated134,900→—million
-8.4%
Net SalesInterim period—non-consolidated118,100→—million
-8.0%
Net SalesFull year—consolidated274,600→259,400million
-5.5%
Net SalesFull year—non-consolidated238,900→225,700million
-5.5%
Operating profitInterim period—consolidated2,800→—million
-33.4%
Operating profitInterim period—non-consolidated2,000→—million
-34.5%
Operating profitFull year—consolidated6,300→4,800million
-23.8%
Operating profitFull year—non-consolidated4,400→3,100million
-29.5%
Ordinary incomeInterim period—consolidated2,700→—million
-23.7%
Ordinary incomeInterim period—non-consolidated1,900→—million
-27.6%
Ordinary incomeFull year—consolidated6,200→4,600million
-25.8%
Ordinary incomeFull year—non-consolidated4,300→2,800million
-34.9%
Profit attributable to owners of the parentInterim period—consolidated1,800→—million
-28.1%
Profit attributable to owners of the parentInterim period—non-consolidated1,300→—million
-29.1%
Profit attributable to owners of the parentFull year—consolidated4,100→3,000million
-26.8%
Profit attributable to owners of the parentFull year—non-consolidated3,000→2,000million
-33.3%
Net income per shareInterim period—consolidated73.67→—Yen / sen
—
Net income per shareInterim period—non-consolidated53.2→—Yen / sen
—
Net income per shareFull year—consolidated167.8→122.73Yen / sen
-26.9%
Net income per shareFull year—non-consolidated122.78→81.82Yen / sen
-33.4%
The 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.
Reason for the revision
In the steel business, market conditions remained on an upward price trend led by manufacturers, but demand was weak and sales volumes fell below expectations. In the construction business, construction progress was delayed and sales declined due to the replanning of construction projects and other factors against a backdrop of higher raw material prices, labor costs and other construction costs. Profit declined as a result of lower sales, and because a substantial improvement in the demand environment for the steel business is difficult to envisage, full-year results are expected to fall below the initial forecasts.
Previous-period resultsInterim period—consolidated Net Sales 125,123 / Operating profit 1,946 / Ordinary income 1,977 / Interim net income attributable to owners of the parent 1,241 / Interim net profit per share 49.75 / Interim period—non-consolidated Net Sales 106,989 / Operating profit 1,136 / Ordinary income 1,141 / Interim net profit 742 / Interim net profit per share 29.73 / Full year—consolidated Net Sales 253,115 / Operating profit 4,740 / Ordinary income 4,711 / Profit attributable to owners of the parent -2,218 / Net income per share -89.57 / Full year—non-consolidated Net Sales 217,904 / Operating profit 3,033 / Ordinary income 2,884 / Net income for the current fiscal year -3,335 / Net income per share -134.67
Dividend forecast revisionLeave the dividend forecast announced at the start of the fiscal year unchanged
Consolidated / non-consolidatedConsolidated / non-consolidated (standalone)
| Item | Details |
|---|---|
| Net Sales | Interim period—consolidated 134,900 / Interim period—non-consolidated 118,100 / Full year—consolidated 274,600 / Full year—non-consolidated 238,900 → Interim period—consolidated Not disclosed / Interim period—non-consolidated Not disclosed / Full year—consolidated 259,400 / Full year—non-consolidated 225,700（Interim period—consolidated -8.4 / Interim period—non-consolidated -8 / Full year—consolidated -5.5 / Full year—non-consolidated -5.5） |
| Operating profit | Interim period—consolidated 2,800 / Interim period—non-consolidated 2,000 / Full year—consolidated 6,300 / Full year—non-consolidated 4,400 → Interim period—consolidated Not disclosed / Interim period—non-consolidated Not disclosed / Full year—consolidated 4,800 / Full year—non-consolidated 3,100（Interim period—consolidated -33.4 / Interim period—non-consolidated -34.5 / Full year—consolidated -23.8 / Full year—non-consolidated -29.5） |
| Ordinary income | Interim period—consolidated 2,700 / Interim period—non-consolidated 1,900 / Full year—consolidated 6,200 / Full year—non-consolidated 4,300 → Interim period—consolidated Not disclosed / Interim period—non-consolidated Not disclosed / Full year—consolidated 4,600 / Full year—non-consolidated 2,800（Interim period—consolidated -23.7 / Interim period—non-consolidated -27.6 / Full year—consolidated -25.8 / Full year—non-consolidated -34.9） |
| Profit attributable to owners of the parent | Interim period—consolidated 1,800 / Interim period—non-consolidated 1,300 / Full year—consolidated 4,100 / Full year—non-consolidated 3,000 → Interim period—consolidated Not disclosed / Interim period—non-consolidated Not disclosed / Full year—consolidated 3,000 / Full year—non-consolidated 2,000（Interim period—consolidated -28.1 / Interim period—non-consolidated -29.1 / Full year—consolidated -26.8 / Full year—non-consolidated -33.3） |
| Net income per share | Interim period—consolidated 73.67 / Interim period—non-consolidated 53.2 / Full year—consolidated 167.8 / Full year—non-consolidated 122.78 → Interim period—consolidated Not disclosed / Interim period—non-consolidated Not disclosed / Full year—consolidated 122.73 / Full year—non-consolidated 81.82 |
| Fiscal Period Covered | Fiscal year ending March 2027 |
| Period Covered | Second quarter (interim period) and full year |
| Publication date of previous forecast | 15 May 2026 |
| Previous-period results | Interim period—consolidated Net Sales 125,123 / Operating profit 1,946 / Ordinary income 1,977 / Interim net income attributable to owners of the parent 1,241 / Interim net profit per share 49.75 / Interim period—non-consolidated Net Sales 106,989 / Operating profit 1,136 / Ordinary income 1,141 / Interim net profit 742 / Interim net profit per share 29.73 / Full year—consolidated Net Sales 253,115 / Operating profit 4,740 / Ordinary income 4,711 / Profit attributable to owners of the parent -2,218 / Net income per share -89.57 / Full year—non-consolidated Net Sales 217,904 / Operating profit 3,033 / Ordinary income 2,884 / Net income for the current fiscal year -3,335 / Net income per share -134.67 |
| Reason for the revision | In the steel business, market conditions remained on an upward price trend led by manufacturers, but demand was weak and sales volumes fell below expectations. In the construction business, construction progress was delayed and sales declined due to the replanning of construction projects and other factors against a backdrop of higher raw material prices, labor costs and other construction costs. Profit declined as a result of lower sales, and because a substantial improvement in the demand environment for the steel business is difficult to envisage, full-year results are expected to fall below the initial forecasts. |
| Dividend forecast revision | Leave the dividend forecast announced at the start of the fiscal year unchanged |
| Consolidated / non-consolidated | Consolidated / non-consolidated (standalone) |
Items this document does not state (1)
Details and amount of extraordinary loss
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.In the steel business, demand was weak and sales volumes fell below expectations. In the construction business, construction projects were replanned against a backdrop of higher raw material prices, labor costs and other costs, resulting in delays in construction progress. Profit also declined as a result of lower sales, and the company says a substantial improvement in the demand environment for the steel business is difficult to envisage.
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