Worth reading
54Recurring
Scored from 4 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
46.9
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales346,808¥ millionYear on year +9.4%Progress 95.8%
Operating profit30,250¥ millionYear on year +46.9%Progress 87.7%
Ordinary income38,456¥ millionYear on year +67.0%Progress 102.5%
Net income attributable to owners of the parent31,100¥ millionYear on year +30.3%
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¥127.48
Operating Margin8.7%
Financial position at period-end
Total assets468,303¥ million
of which net assets 302,132 ¥ millionEquity ratio 62.6%vs. prior year-end +1.0pt
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+38,822
Investment-15,478
Financials-17,668
Net change+5,676
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¥103,986 million
Segment revenueClock Business ¥197,061 million (YoY +10.0%), Machine-tool Business ¥86,292 million (YoY +16.1%), Device business ¥63,455 million (YoY +0.2%)
Segment profitClock Business ¥25,072 million (YoY +38.1%), Machine-tool Business ¥7,736 million (YoY +36.4%), Device business ¥3,766 million (YoY +26.9%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥362,000 million (YoY +4.4%)
Operating profit¥34,500 million (YoY +14.0%)
Ordinary income¥37,500 million (YoY -2.5%)
Profit attributable to owners of the parent¥27,500 million (YoY -11.6%)
Annual Dividend Forecast¥45 → ¥50（+11.1%）
Payout ratio36.9% (actual for the fiscal year ended March 2026), 44.4% (forecast for the fiscal year ending March 2027)
Factors Behind Changes in Business Performance
Revenue and operating profit increased mainly because the Watch and Machine Tools businesses performed strongly. Ordinary profit and net income attributable to owners of the parent also increased due to higher foreign exchange gains, gains on the sale of investment securities, and a review of the recoverability of deferred tax assets.
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 No
Changes in the scope of consolidationNew Number of companies 1 / Company name Manufacture Arnold & Son-Angelus SA / Excluded Number of companies 0 / Company name Not disclosed
Material subsequent eventsNo applicable matters.
Impairment loss¥1,778 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities ¥5,852 million, Gain on sale of non-current assets ¥103 million, Reversal of provision for business restructuring expenses ¥26 million, Other ¥157 million / Extraordinary loss Loss on sale of fixed assets ¥7 million, Loss on Disposal of Fixed Assets ¥338 million, Impairment Losses ¥1,778 million, Impairment Loss on Investment Securities ¥36 million, Business restructuring expenses ¥7 million, Additional retirement benefits ¥93 million, Customs duties and other charges relating to prior years ¥2,752 million, Provision for customs duties and other charges relating to prior years ¥3,315 million, Other ¥139 million
Depreciation and amortization¥14,400 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person Institutional investors and analysts
Issued Shares at Period-End246,000,000
Treasury Shares at Period-End2,006,134
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥346,808 million (YoY +9.4%) |
| Operating profit | ¥30,250 million (YoY +46.9%) |
| Ordinary income | ¥38,456 million (YoY +67.0%) |
| Profit attributable to owners of the parent | ¥31,100 million (YoY +30.3%) |
| Net income per share | ¥127.48 |
| Operating Margin | 8.7% |
| Equity ratio | End of the current fiscal period 62.6% / End of previous period 61.6% |
| Total assets | ¥468,303 million |
| Net assets | ¥302,132 million |
| Cash flows from operating activities | ¥38,822 million |
| Cash flows from investing activities | ¥-15,478 million |
| Cash flows from financing activities | ¥-17,668 million |
| Cash and cash equivalents at end of period | ¥103,986 million |
| Full-year earnings forecast | Net Sales ¥362,000 million (YoY +4.4%) / Operating profit ¥34,500 million (YoY +14.0%) / Ordinary income ¥37,500 million (YoY -2.5%) / Profit attributable to owners of the parent ¥27,500 million (YoY -11.6%) |
| Annual Dividend Forecast | ¥45 → ¥50（+11.1%） |
| Payout ratio | 36.9% (actual for the fiscal year ended March 2026), 44.4% (forecast for the fiscal year ending March 2027) |
| Segment revenue | Clock Business ¥197,061 million (YoY +10.0%), Machine-tool Business ¥86,292 million (YoY +16.1%), Device business ¥63,455 million (YoY +0.2%) |
| Segment profit | Clock Business ¥25,072 million (YoY +38.1%), Machine-tool Business ¥7,736 million (YoY +36.4%), Device business ¥3,766 million (YoY +26.9%) |
| Depreciation and amortization | ¥14,400 million |
| Impairment loss | ¥1,778 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities ¥5,852 million, Gain on sale of non-current assets ¥103 million, Reversal of provision for business restructuring expenses ¥26 million, Other ¥157 million / Extraordinary loss Loss on sale of fixed assets ¥7 million, Loss on Disposal of Fixed Assets ¥338 million, Impairment Losses ¥1,778 million, Impairment Loss on Investment Securities ¥36 million, Business restructuring expenses ¥7 million, Additional retirement benefits ¥93 million, Customs duties and other charges relating to prior years ¥2,752 million, Provision for customs duties and other charges relating to prior years ¥3,315 million, Other ¥139 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 No |
| Changes in the scope of consolidation | New Number of companies 1 / Company name Manufacture Arnold & Son-Angelus SA / Excluded Number of companies 0 / Company name Not disclosed |
| Material subsequent events | No applicable matters. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Institutional investors and analysts |
| Issued Shares at Period-End | 246,000,000 |
| Treasury Shares at Period-End | 2,006,134 |
| Factors Behind Changes in Business Performance | Revenue and operating profit increased mainly because the Watch and Machine Tools businesses performed strongly. Ordinary profit and net income attributable to owners of the parent also increased due to higher foreign exchange gains, gains on the sale of investment securities, and a review of the recoverability of deferred tax assets. |
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.This was mainly due to strong performance in the Watch and Machine Tools businesses, an increase in foreign exchange gains, gains on the sale of investment securities, and a review of the recoverability of deferred tax assets. For the following fiscal year, the Company assumes resilient personal consumption but expects uncertainty from higher crude oil prices and accelerating inflation resulting from heightened tensions in the Middle East.
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