Komori
Earnings7521MUSASHI CO.,LTD.Trading & Wholesale

Financial Results Summary for the Fiscal Year Ending March 2026 [Japanese GAAP] (Consolidated)

For the fiscal year ended March 2026, net sales and operating profit increased, driven by higher sales of election-related equipment, while ordinary profit and net income declined due to deterioration in the share of profit or loss of equity-method investments and impairment losses. For the fiscal year ending March 2027, the Company expects lower net sales and lower profits, as no national elections are scheduled.

Worth reading
54Recurring
Scored from 5 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
39.4
Year-on-year change in operating income (%)
Wording
Conditional
How definitive the wording is.

Results for this period

Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAP
Net Sales40,586¥ millionYear on year +8.5%Progress 119.5%
Operating profit4,677¥ millionYear on year +39.4%Progress 784.7%
Ordinary income4,716¥ millionYear on year -0.5%Progress 644.3%
Net income attributable to owners of the parent2,803¥ millionYear on year -18.3%Progress 716.9%

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¥411.42
Operating Margin11.5%
Financial position at period-end
Total assets52,849¥ million
of which net assets 36,939 ¥ millionEquity ratio 69.9%vs. prior year-end +1.7pt

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+2,557
Investment+498
Financials-483
Net change+2,572

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¥23,477 million
Segment revenueInformation, Printing and Industrial Systems Equipment ¥17,807 million (YoY -5.3%), Financial General-Purpose and Election Systems Equipment ¥13,880 million (YoY +47.5%), Paper and paper-processed products ¥8,625 million (YoY -3.0%), Real Estate Leasing and Other Businesses ¥659 million (YoY +7.5%)
Segment profitInformation, Printing and Industrial Systems Equipment ¥12 million (YoY -98.5%), Financial General-Purpose and Election Systems Equipment ¥4,315 million (YoY +102.6%), Paper and paper-processed products ¥133 million (YoY -24.4%), Real Estate Leasing and Other Businesses ¥214 million (YoY -0.6%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥33,959 million (YoY -16.3%)
Operating profit¥596 million (YoY -87.3%)
Ordinary income¥732 million (YoY -84.5%)
Net income¥391 million (YoY -86.1%)
Annual Dividend Forecast¥76 → ¥36(-52.6%)
Payout ratio62.7%
Factors Behind Changes in Business Performance

In election systems equipment, sales of equipment, sales of vote-counting and election administration systems, and support services related to the Tokyo Metropolitan Assembly election, House of Councillors election and House of Representatives election increased. In Information, Printing and Industrial Systems Equipment, orders for document digitization services declined and profit margins on printing systems equipment decreased. In Paper and Paper Products, demand for printing paper and information paper declined. Ordinary profit and net income were affected by the share of profit or loss of equity-method investments.

Disclosure regarding the going concern assumption

Not applicable.

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 No
Changes in the scope of consolidationNew Not disclosed / Excluded Not disclosed / Company name Not disclosed / Material changes No
Material subsequent eventsNot applicable.
Impairment loss¥204 million
Breakdown of extraordinary income (loss)Gain on sale of investment securities ¥3 million, Loss on Disposal of Fixed Assets ¥22 million, Impairment Losses ¥204 million
Depreciation and amortization¥429 million
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingWhether applicable Yes / Subject person Institutional investors and analysts
Issued Shares at Period-End7,950,000 Shares
Treasury Shares at Period-End1,135,745 Shares
Results for this period
ItemDetails
Fiscal Period ClassificationFull year
Accounting standardsJapanese GAAP
Consolidated / non-consolidatedConsolidated
Period Covered1 April 2025–31 March 2026
Net Sales¥40,586 million (YoY +8.5%)
Operating profit¥4,677 million (YoY +39.4%)
Ordinary income¥4,716 million (YoY -0.5%)
Profit attributable to owners of the parent¥2,803 million (YoY -18.3%)
Net income per share¥411.42
Operating Margin11.5%
Equity ratioEnd of the current fiscal period 69.9% / End of previous period 68.2%
Total assets¥52,849 million
Net assets¥36,939 million
Cash flows from operating activities¥2,557 million
Cash flows from investing activities¥498 million
Cash flows from financing activities¥-483 million
Cash and cash equivalents at end of period¥23,477 million
Full-year earnings forecastNet Sales ¥33,959 million (YoY -16.3%) / Operating profit ¥596 million (YoY -87.3%) / Ordinary income ¥732 million (YoY -84.5%) / Net income ¥391 million (YoY -86.1%)
Annual Dividend Forecast¥76 → ¥36(-52.6%)
Payout ratio62.7%
Segment revenueInformation, Printing and Industrial Systems Equipment ¥17,807 million (YoY -5.3%), Financial General-Purpose and Election Systems Equipment ¥13,880 million (YoY +47.5%), Paper and paper-processed products ¥8,625 million (YoY -3.0%), Real Estate Leasing and Other Businesses ¥659 million (YoY +7.5%)
Segment profitInformation, Printing and Industrial Systems Equipment ¥12 million (YoY -98.5%), Financial General-Purpose and Election Systems Equipment ¥4,315 million (YoY +102.6%), Paper and paper-processed products ¥133 million (YoY -24.4%), Real Estate Leasing and Other Businesses ¥214 million (YoY -0.6%)
Depreciation and amortization¥429 million
Impairment loss¥204 million
Breakdown of extraordinary income (loss)Gain on sale of investment securities ¥3 million, Loss on Disposal of Fixed Assets ¥22 million, Impairment Losses ¥204 million
Disclosure regarding the going concern assumptionNot applicable.
Change in accounting policyChanges due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No
Changes in the scope of consolidationNew Not disclosed / Excluded Not disclosed / Company name Not disclosed / Material changes No
Material subsequent eventsNot applicable.
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingWhether applicable Yes / Subject person Institutional investors and analysts
Issued Shares at Period-End7,950,000 Shares
Treasury Shares at Period-End1,135,745 Shares
Factors Behind Changes in Business PerformanceIn election systems equipment, sales of equipment, sales of vote-counting and election administration systems, and support services related to the Tokyo Metropolitan Assembly election, House of Councillors election and House of Representatives election increased. In Information, Printing and Industrial Systems Equipment, orders for document digitization services declined and profit margins on printing systems equipment decreased. In Paper and Paper Products, demand for printing paper and information paper declined. Ordinary profit and net income were affected by the share of profit or loss of equity-method investments.
Items this document does not state (4)
Revision to Earnings ForecastShareholder Return PolicyRegional salesOrders 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, sales of election systems equipment, systems and support services related to the Tokyo Metropolitan Assembly election, House of Councillors election and House of Representatives election increased. Ordinary profit and net income attributable to owners of the parent were affected by the share of profit or loss of equity-method investments. For the next fiscal year, no national elections are scheduled, and demand for printing paper and information paper is also expected to continue declining.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Financial Results Summary for the Fiscal Year Ending March 2026 [Japanese GAAP] (Consolidated) | MUSASHI CO.,LTD. (7521) timely disclosure | Komori