Worth reading
49Recurring
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
2790
Millions of yen (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentation2025年12月期 中間期（第2四半期）8 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥41,096 million+7.3%
Operating profit¥1,320 million-42.0%
Ordinary income¥1,493 million-30.3%
Net income¥1,653 million +2.7%interim net income attributable to owners of the parent
Gross Profit Margin
Rate31.0%
Year-on-year change (points)+1.0ポイント（30.0%から31.0%）
Operating profit margin
Rate3.2%
Year-on-year change (points)-2.7ポイント（5.9%から3.2%）
Full-year earnings forecast
Net Sales
¥85,000 million
Operating profit
¥3,600 million
Ordinary income
¥3,200 million
Profit attributable to owners of the parent
¥5,500 million
EBITDA（営業利益ベース）
¥5,850 million
Annual dividend per share
60 Yen普通配当14円、特別配当46円
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales48.3%
Operating profit36.7%
Ordinary income46.7%
Interim net profit attributable to owners of the parent30.1%
EBITDA（営業利益ベース）39.5%
EBITDA（経常利益ベース）45.8%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
新規企業連結による影響約29.9億円
Raw Material Costs+530百万円
Product Procurement+¥77 million
Outsourced processing costs+¥138 million
Transportation, royalty and storage costs+¥34 million
Other costs+¥234 million
その他の販売費+¥193 million
Personnel Expenses+1,588百万円
Depreciation and amortization+¥70 million
Goodwill amortization+¥47 million
Rent expense+274百万円
Taxes and dues-JPY 7 million
Credit costs+¥18 million
その他の経費+¥543 million
Interest expenses+¥140 million
Share of Profit or Loss of Investments Accounted for Using the Equity Method+¥66 million
その他の営業外費用+¥220 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Higher Labor Costs
- Rising cost of sales
- Higher interest rates
- 生産性向上で対応
New initiatives
- シルキー・アクトの子会社化
- トラストの子会社化
- 美松堂と共同製本の合併（2025年8月1日）
- 印刷製造事業の設備移転・投資
- 事業拠点の集約・統合
- 不動産売却と売却益の生産性向上への活用
- 長期借入への切り替えによる資金の固定化
- 新人事システムの稼働（2025年7月）
- 名古屋のグループ営業拠点開設（10月予定）
Key KPIsA metric the company considers important as a management benchmark.
- Number of consolidated subsidiaries40 companiesYear on year against the same period last year前年38社から増加
- Number of new graduate hires139 People
Number of employees
新卒139名の入社のみ記載。総従業員数はNot disclosedAnnual Dividend
Annual dividend per share¥60
Breakdown
Regular dividend14
Special dividend46
Payout ratio
50.8%（2025年12月期の資料掲載値）Acquisition of treasury shares
自己株式買付金額630百万円（2025年12月期の掲載値）。取得株数・期間はNot disclosed| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | 2025年12月期 中間期（第2四半期） |
| Net Sales | ¥41,096 million (YoY +7.3%) |
| Operating profit | ¥1,320 million (YoY -42.0%) |
| Ordinary income | ¥1,493 million (YoY -30.3%) |
| Net income | ¥1,653 million (interim net income attributable to owners of the parent) (YoY +2.7%) |
| Gross Profit Margin | Rate 31.0% / Year-on-year change (points) +1.0ポイント（30.0%から31.0%） |
| Operating profit margin | Rate 3.2% / Year-on-year change (points) -2.7ポイント（5.9%から3.2%） |
| Full-year earnings forecast | Net Sales ¥85,000 million / Operating profit ¥3,600 million / Ordinary income ¥3,200 million / Profit attributable to owners of the parent ¥5,500 million / EBITDA（営業利益ベース） ¥5,850 million / Annual dividend per share 60 円（普通配当14円、特別配当46円） |
| Progress against full-year forecast | Net Sales 48.3% / Operating profit 36.7% / Ordinary income 46.7% / Interim net profit attributable to owners of the parent 30.1% / EBITDA（営業利益ベース） 39.5% / EBITDA（経常利益ベース） 45.8% |
| Breakdown of Factors Affecting the Change | Net Sales 新規企業連結による影響 約29.9億円 / Raw Material Costs +530百万円 / Product Procurement +¥77 million / Outsourced processing costs +¥138 million / Transportation, royalty and storage costs +¥34 million / Other costs +¥234 million / その他の販売費 +¥193 million / Personnel Expenses +1,588百万円 / Depreciation and amortization +¥70 million / Goodwill amortization +¥47 million / Rent expense +274百万円 / Taxes and dues -JPY 7 million / Credit costs +¥18 million / その他の経費 +¥543 million / Interest expenses +¥140 million / Share of Profit or Loss of Investments Accounted for Using the Equity Method +¥66 million / その他の営業外費用 +¥220 million |
| Key KPIs | Indicator name Number of consolidated subsidiaries / Value 40 companies / Year on year against the same period last year 前年38社から増加, Indicator name Number of new graduate hires / Value 139 People / Year on year against the same period last year Not disclosed |
| Number of employees | 新卒139名の入社のみ記載。総従業員数はNot disclosed |
| Assumptions Underlying the Business Outlook | Higher Labor Costs, Rising cost of sales, Higher interest rates, 生産性向上で対応 |
| Annual Dividend | Annual dividend per share ¥60 / Breakdown Regular dividend 14 / Special dividend 46 |
| Payout ratio | 50.8%（2025年12月期の資料掲載値） |
| Acquisition of treasury shares | 自己株式買付金額630百万円（2025年12月期の掲載値）。取得株数・期間はNot disclosed |
| New initiatives | シルキー・アクトの子会社化, トラストの子会社化, 美松堂と共同製本の合併（2025年8月1日）, 印刷製造事業の設備移転・投資, 事業拠点の集約・統合, 不動産売却と売却益の生産性向上への活用, 長期借入への切り替えによる資金の固定化, 新人事システムの稼働（2025年7月）, 名古屋のグループ営業拠点開設（10月予定） |
Items this document does not state (13)
Selling, general and administrative expensesResults for the three months of the current quarterSelf-assessment against the planSegment resultsUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsCapital 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.売上高の増加は新規連結会社の寄与が主因で、約29.9億円の増加影響が示されている。営業利益の減少については、人件費、賃借料、その他の経費、減価償却費、のれん償却費などの増加が示され、会社は付加価値の増加・内製化率向上に先行して人件費を見直したと説明している。
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.