Worth reading
69In focus
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
-5.7
Year-on-year change in net sales (%)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentation materialsFirst quarter of the fiscal year ending June 202715 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales17,678 Millions of yen-5.7%
Operating profit3,171 Millions of yen-6.3%
Ordinary income2,954 Millions of yen-20.2%
Net income2,884 Millions of yen+11.9%
Selling, general and administrative expenses3,601 Millions of yen
Gross Profit Margin
Rate38.3%
Year-on-year change (points)+1.5 percentage points
Operating profit margin
Rate17.9%
Year-on-year change (points)-0.2 percentage points
Results for the three months of the current quarterNet sales ¥17,678 million, operating profit ¥3,171 million, EBITDA ¥4,091 million, ordinary profit ¥2,954 million, net income attributable to owners of the parent ¥2,884 million
Full-year earnings forecast
Net Sales
73,500 Millions of yen
Operating profit
12,500 Millions of yen
EBITDA
16,600 Millions of yen
Ordinary income
12,900 Millions of yen
Profit attributable to owners of the parent
9,600 Millions of yen
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 Sales24.1%
Operating profit25.4%
EBITDA24.6%
Ordinary income22.9%
Profit attributable to owners of the parent30.0%
By segment
Social Infrastructure business
Net Sales24.0%
Operating profit24.8%
Industry Infrastructure business
Net Sales24.1%
Operating profit26.0%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Performance at each company other than Kushiro High Meal was broadly in line with plan. The fishmeal business fell well short of its performance target.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Lower sales△¥399 million
- Higher gross margin+¥275 million
- Increase in SG&A expenses¥90 million loss
- Increase in personnel expenses+¥60 million
- Lower selling expenses-¥85 million
- Higher general and administrative expenses+¥116 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Quantitative assumptions for foreign exchange rates, raw material prices, interest rates and volumes: Not disclosed. In response to higher raw material and fuel prices amid uncertainty over the situation in the Middle East, the company is implementing sales price adjustments and strengthening its purchasing capabilities.New initiatives
- Making Nagoya Yuka a subsidiary and incorporating it into the consolidated balance sheet (first quarter), followed by its reflection in the consolidated income statement (second quarter)
- Share buyback (up to ¥3 billion and 1.5 million shares)
- Expansion of production capacity, including the addition of a coating line at the BBS Yokkaichi Plant
- Business development and an M&A strategy aligned with new demand in areas including disaster prevention, defense, semiconductors and GX
Key KPIsA metric the company considers important as a management benchmark.
- ROE13.2%
- ROIC12.4%
- WACC8.1%
- ROIC spread4.2%
- Overseas Sales Ratio Target30%
Segment results
Social Infrastructure business
Net Sales
11,299 Millions of yen-8.7%
Operating profit
2,305 Millions of yen-7.4%
Industry Infrastructure business
Net Sales
6,378 Millions of yen+0.3%
Operating profit
1,297 Millions of yen+3.0%
Medium-term management plan targets
Net Sales
Target fiscal yearFiscal year ending June 2027
Target value¥70 billion (initial plan)
Forecast¥73.5 billion
Operating profit
Target fiscal yearFiscal year ending June 2027
Target value¥12 billion (initial plan)
Forecast¥12.5 billion
EBITDA
Target fiscal yearFiscal year ending June 2027
Target value¥15 billion (initial plan)
Forecast¥16.6 billion
Profit attributable to owners of the parent
Target fiscal yearFiscal year ending June 2027
Target value¥8 billion (initial plan)
Forecast¥9.6 billion
Capital expenditure budget¥15 billion (total for 4 years)
M&A investment envelope¥20 billion (total for 4 years)
Financial targets
ROE
Target12% or more
Actual results13.2% (fiscal year ended June 2026)
Forecast12% (fiscal year ending June 2027)
ROIC
Actual results12.4% (fiscal year ended June 2026)
Market Size / Share
Business scale of approximately ¥20 trillion under the National Resilience Implementation Mid-Term Plan
Number of stores and locations
End of period14 business offices and 5 factories
Number of employees
Number of Employees1,883 people (including officers, contract and part-time employees, trainees and dispatched workers)
Capital expenditures
¥4,800 million fiscal year ending June 2027 plan
Annual Dividend
Annual dividend per share¥32 (forecast)
Interim¥16 (up ¥2 year on year)
End of period¥16 (unchanged year on year)
Payout ratio
Total payout ratio53.1% (reference)
DOE2.8% (forecast)
Acquisition of treasury shares
Share buyback authorization amount¥3 billion (maximum)
Number of shares under the buyback program1.5 million shares (maximum)
Period2026/11/16～2026/11/30
| Item | Details |
|---|---|
| Document type | Earnings presentation materials |
| Fiscal Period Covered | First quarter of the fiscal year ending June 2027 |
| Net Sales | 17,678 Millions of yen (YoY -5.7%) |
| Operating profit | 3,171 Millions of yen (YoY -6.3%) |
| Ordinary income | 2,954 Millions of yen (YoY -20.2%) |
| Net income | 2,884 Millions of yen (YoY +11.9%) |
| Gross Profit Margin | Rate 38.3% / Year-on-year change (points) +1.5 percentage points |
| Operating profit margin | Rate 17.9% / Year-on-year change (points) -0.2 percentage points |
| Selling, general and administrative expenses | 3,601 Millions of yen |
| Results for the three months of the current quarter | Net sales ¥17,678 million, operating profit ¥3,171 million, EBITDA ¥4,091 million, ordinary profit ¥2,954 million, net income attributable to owners of the parent ¥2,884 million |
| Full-year earnings forecast | Net Sales 73,500 Millions of yen / Operating profit 12,500 Millions of yen / EBITDA 16,600 Millions of yen / Ordinary income 12,900 Millions of yen / Profit attributable to owners of the parent 9,600 Millions of yen |
| Progress against full-year forecast | Net Sales 24.1% / Operating profit 25.4% / EBITDA 24.6% / Ordinary income 22.9% / Profit attributable to owners of the parent 30.0% / By segment Social Infrastructure business Net Sales 24.0% / Operating profit 24.8% / Industry Infrastructure business Net Sales 24.1% / Operating profit 26.0% |
| Self-assessment against the plan | Performance at each company other than Kushiro High Meal was broadly in line with plan. The fishmeal business fell well short of its performance target. |
| Segment results | Social Infrastructure business Net Sales 11,299 Millions of yen (YoY -8.7%) / Operating profit 2,305 Millions of yen (YoY -7.4%) / Industry Infrastructure business Net Sales 6,378 Millions of yen (YoY +0.3%) / Operating profit 1,297 Millions of yen (YoY +3.0%) |
| Breakdown of Factors Affecting the Change | Factors Lower sales / Amount △¥399 million, Factors Higher gross margin / Amount +¥275 million, Factors Increase in SG&A expenses / Amount ¥90 million loss, Factors Increase in personnel expenses / Amount +¥60 million, Factors Lower selling expenses / Amount -¥85 million, Factors Higher general and administrative expenses / Amount +¥116 million |
| Key KPIs | Indicator name ROE / Value 13.2% / Year on year against the same period last year Not disclosed, Indicator name ROIC / Value 12.4% / Year on year against the same period last year Not disclosed, Indicator name WACC / Value 8.1% / Year on year against the same period last year Not disclosed, Indicator name ROIC spread / Value 4.2% / Year on year against the same period last year Not disclosed, Indicator name Overseas Sales Ratio Target / Value 30% / Year on year against the same period last year Not disclosed |
| Number of stores and locations | End of period 14 business offices and 5 factories / Number of store openings and closures during the period Not disclosed |
| Number of employees | Number of Employees 1,883 people (including officers, contract and part-time employees, trainees and dispatched workers) / Change during the period Not disclosed / Hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | Quantitative assumptions for foreign exchange rates, raw material prices, interest rates and volumes: Not disclosed. In response to higher raw material and fuel prices amid uncertainty over the situation in the Middle East, the company is implementing sales price adjustments and strengthening its purchasing capabilities. |
| Medium-term management plan targets | Net Sales Target fiscal year Fiscal year ending June 2027 / Target value ¥70 billion (initial plan) / Forecast ¥73.5 billion / Operating profit Target fiscal year Fiscal year ending June 2027 / Target value ¥12 billion (initial plan) / Forecast ¥12.5 billion / EBITDA Target fiscal year Fiscal year ending June 2027 / Target value ¥15 billion (initial plan) / Forecast ¥16.6 billion / Profit attributable to owners of the parent Target fiscal year Fiscal year ending June 2027 / Target value ¥8 billion (initial plan) / Forecast ¥9.6 billion / Capital expenditure budget ¥15 billion (total for 4 years) / M&A investment envelope ¥20 billion (total for 4 years) |
| Financial targets | ROE Target 12% or more / Actual results 13.2% (fiscal year ended June 2026) / Forecast 12% (fiscal year ending June 2027) / ROIC Actual results 12.4% (fiscal year ended June 2026) |
| Annual Dividend | Annual dividend per share ¥32 (forecast) / Interim ¥16 (up ¥2 year on year) / End of period ¥16 (unchanged year on year) |
| Payout ratio | Rate Not disclosed / Total payout ratio 53.1% (reference) / DOE 2.8% (forecast) |
| Acquisition of treasury shares | Share buyback authorization amount ¥3 billion (maximum) / Number of shares under the buyback program 1.5 million shares (maximum) / Period 2026/11/16～2026/11/30 |
| Capital expenditures | ¥4,800 million (fiscal year ending June 2027 plan) |
| Market Size / Share | Market Size Business scale of approximately ¥20 trillion under the National Resilience Implementation Mid-Term Plan / Share Not disclosed |
| New initiatives | Making Nagoya Yuka a subsidiary and incorporating it into the consolidated balance sheet (first quarter), followed by its reflection in the consolidated income statement (second quarter), Share buyback (up to ¥3 billion and 1.5 million shares), Expansion of production capacity, including the addition of a coating line at the BBS Yokkaichi Plant, Business development and an M&A strategy aligned with new demand in areas including disaster prevention, defense, semiconductors and GX |
Items this document does not state (4)
Unit price and quantity metricsRisk amount incorporated into the outlookOrders received and order backlogKey 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 decline in net sales was mainly due to lower revenue from the social infrastructure business. In the fishmeal business, a shortage of sardines for raw materials caused by global warming led to weaker performance than both the plan and the year-earlier period. Operating profit was weighed down by lower sales and higher SG&A expenses, while an improved gross margin provided support.
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.