Revised forecast
Fiscal year ending March 2027 · First quarter (difference from actual results), second quarter (interim period), and full yearPrevious forecast published Disclosed on 23 April 2026The bar length represents the relative magnitude of change, based on the item that changed the most in this document.
The Company had left its interim and full-year forecasts undetermined because the impact of the situation in the Middle East was difficult to predict. However, it determined that reasonable calculations were now possible because disruption in the construction market had been limited and the outlook for reducing supply risks had improved through diversification of procurement sources and other measures. For the interim period, the Company expects deterioration due to a decline following the increase in defensive stocking demand and the impact of surging naphtha prices on raw-material procurement costs. For the full year, it expects weakness in the housing and construction markets and persistently high raw-material procurement costs.
| Item | Details |
|---|---|
| Net Sales | First quarter 11,820 / Second quarter (interim period) To be determined / Full year To be determined → First-quarter actual results 12,764 / Second quarter (interim period) 24,778 / Full year 48,530（First quarter 8 / Second quarter (interim period) Not disclosed / Full year Not disclosed） |
| Operating profit | First quarter 1,290 / Second quarter (interim period) To be determined / Full year To be determined → First-quarter actual results 1,945 / Second quarter (interim period) 3,343 / Full year 6,232（First quarter 50.8 / Second quarter (interim period) Not disclosed / Full year Not disclosed） |
| Ordinary income | First quarter 1,316 / Second quarter (interim period) To be determined / Full year To be determined → First-quarter actual results 2,006 / Second quarter (interim period) 3,444 / Full year 6,398（First quarter 52.5 / Second quarter (interim period) Not disclosed / Full year Not disclosed） |
| Profit attributable to owners of the parent | First quarter 877 / Second quarter (interim period) To be determined / Full year To be determined → First-quarter actual results 1,379 / Second quarter (interim period) 2,340 / Full year 4,342（First quarter 57.1 / Second quarter (interim period) Not disclosed / Full year Not disclosed） |
| Net income per share | First quarter 54.3 / Second quarter (interim period) To be determined / Full year To be determined → First-quarter actual results 85.31 / Second quarter (interim period) 144.73 / Full year 268.54 |
| Fiscal Period Covered | Fiscal year ending March 2027 |
| Period Covered | First quarter (difference from actual results), second quarter (interim period), and full year |
| Publication date of previous forecast | Disclosed on 23 April 2026 |
| Previous-period results | First quarter: sales of ¥11,677 million, operating profit of ¥1,479 million, ordinary profit of ¥1,513 million, profit attributable to owners of the parent of ¥1,032 million, and quarterly earnings per share of ¥63.98. Interim period: sales of ¥22,946 million, operating profit of ¥3,159 million, ordinary profit of ¥3,252 million, profit attributable to owners of the parent of ¥2,195 million, and interim earnings per share of ¥135.95. Full year: sales of ¥45,673 million, operating profit of ¥6,723 million, ordinary profit of ¥6,899 million, profit attributable to owners of the parent of ¥4,696 million, and earnings per share of ¥290.73. |
| Reason for the revision | The Company had left its interim and full-year forecasts undetermined because the impact of the situation in the Middle East was difficult to predict. However, it determined that reasonable calculations were now possible because disruption in the construction market had been limited and the outlook for reducing supply risks had improved through diversification of procurement sources and other measures. For the interim period, the Company expects deterioration due to a decline following the increase in defensive stocking demand and the impact of surging naphtha prices on raw-material procurement costs. For the full year, it expects weakness in the housing and construction markets and persistently high raw-material procurement costs. |
| Dividend forecast revision | The second-quarter-end dividend will remain unchanged at ¥50 per share. The year-end dividend has been increased by ¥35 from the previous forecast of ¥50 to ¥85 per share, revising the annual dividend from ¥100 to ¥135. |
| Consolidated / non-consolidated | Consolidated |
Items this document does not state (1)
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 first quarter, sales increased as demand for electrical and piping materials rose as a form of defensive stocking in response to heightened risks in the Middle East, while profit increased mainly due to the effect of higher sales. Although the Company expects weakness in the housing and construction markets and higher raw-material procurement costs resulting from surging naphtha prices during the interim period and full year, it determined that reasonable forecasts could be made as a result of diversifying its procurement sources and other measures, and therefore disclosed the forecasts. The dividend forecast was revised in accordance with the Company's profit-return policy, which targets the higher of a 50% payout ratio or a 3% dividend on equity (DOE).