Worth reading
42Recurring
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
2.3
% (year-on-year change in net sales)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales24,584¥ millionYear on year +2.3%Progress 49.2%
Operating profit2,010¥ millionYear on year -2.3%Progress 49.0%
Ordinary income1,985¥ millionYear on year -7.5%Progress 48.4%
Net income attributable to owners of the parent1,338¥ millionYear on year -1.0%
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¥478.20
Financial position at period-end
Total assets71,064¥ million
of which net assets 41,697 ¥ millionEquity ratio 57.5%vs. prior year-end -1.1pt
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+262
Investment-19
Financials-1,000
Net change-757
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¥7,899 million
Segment revenueCollagen and casing business ¥4,915 million (YoY +5.3%), Gelatin-related business ¥6,171 million (YoY +0.5%), Cosmetics-related business ¥4,429 million (YoY +10.1%), Leather-Related Business ¥2,953 million (YoY -3.4%), Rental and real estate business ¥527 million (YoY -0.6%), Food and other businesses ¥5,586 million (YoY -0.2%)
Segment profitCollagen and casing business ¥438 million (YoY +32.8%), Gelatin-related business ¥1,027 million (YoY -12.1%), Cosmetics-related business ¥694 million (YoY +19.3%), Leather-Related Business ¥124 million (YoY +52.4%), Rental and real estate business ¥411 million (YoY -0.9%), Food and other businesses ¥244 million (YoY -35.1%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥50,000 million (YoY +5.8%)
Operating profit¥4,100 million (YoY -1.3%)
Ordinary income¥4,100 million (YoY -2.5%)
Profit attributable to owners of the parent¥2,800 million (YoY -1.1%)
Annual Dividend Forecast¥696 → ¥701（+0.7%）
Factors Behind Changes in Business Performance
In the collagen casing business, export sales to North America remained strong. In the cosmetics-related business, sales promotion resulted in higher revenue and earnings. Meanwhile, earnings declined in the gelatin-related and food and other businesses due to higher raw material prices and utility costs, price competition, and sluggish sales of reagent-related products.
Disclosure regarding the going concern assumption
None
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 0 companies (no company names provided) / Excluded 0 companies (no company names provided)
Impairment lossNone
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥0 million, Gain on sale of investment securities ¥28 million / Extraordinary loss Loss on disposal of fixed assets ¥0 million, Impairment loss ―
Depreciation and amortization¥453 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable No / Subject person Not disclosed
Issued Shares at Period-End2,889,000 shares
Treasury Shares at Period-End89,121 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 September 2026 |
| Net Sales | ¥24,584 million (YoY +2.3%) |
| Operating profit | ¥2,010 million (YoY -2.3%) |
| Ordinary income | ¥1,985 million (YoY -7.5%) |
| Profit attributable to owners of the parent | ¥1,338 million (YoY -1.0%) |
| Net income per share | ¥478.20 |
| Equity ratio | End of the current fiscal period 57.5% / End of previous period 58.6% |
| Total assets | ¥71,064 million |
| Net assets | ¥41,697 million |
| Cash flows from operating activities | ¥262 million |
| Cash flows from investing activities | ¥-19 million |
| Cash flows from financing activities | ¥-1,000 million |
| Cash and cash equivalents at end of period | ¥7,899 million |
| Full-year earnings forecast | Net Sales ¥50,000 million (YoY +5.8%) / Operating profit ¥4,100 million (YoY -1.3%) / Ordinary income ¥4,100 million (YoY -2.5%) / Profit attributable to owners of the parent ¥2,800 million (YoY -1.1%) |
| Annual Dividend Forecast | ¥696 → ¥701（+0.7%） |
| Segment revenue | Collagen and casing business ¥4,915 million (YoY +5.3%), Gelatin-related business ¥6,171 million (YoY +0.5%), Cosmetics-related business ¥4,429 million (YoY +10.1%), Leather-Related Business ¥2,953 million (YoY -3.4%), Rental and real estate business ¥527 million (YoY -0.6%), Food and other businesses ¥5,586 million (YoY -0.2%) |
| Segment profit | Collagen and casing business ¥438 million (YoY +32.8%), Gelatin-related business ¥1,027 million (YoY -12.1%), Cosmetics-related business ¥694 million (YoY +19.3%), Leather-Related Business ¥124 million (YoY +52.4%), Rental and real estate business ¥411 million (YoY -0.9%), Food and other businesses ¥244 million (YoY -35.1%) |
| Depreciation and amortization | ¥453 million |
| Impairment loss | None |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥0 million, Gain on sale of investment securities ¥28 million / Extraordinary loss Loss on disposal of fixed assets ¥0 million, Impairment loss ― |
| Disclosure regarding the going concern assumption | None |
| 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 0 companies (no company names provided) / Excluded 0 companies (no company names provided) |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 2,889,000 shares |
| Treasury Shares at Period-End | 89,121 shares |
| Factors Behind Changes in Business Performance | In the collagen casing business, export sales to North America remained strong. In the cosmetics-related business, sales promotion resulted in higher revenue and earnings. Meanwhile, earnings declined in the gelatin-related and food and other businesses due to higher raw material prices and utility costs, price competition, and sluggish sales of reagent-related products. |
Items this document does not state (7)
Operating MarginRevision to Earnings ForecastPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogMaterial subsequent events
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.Revenue increased on strong export sales to North America and sales promotion in the cosmetics-related business, while profitability remained sluggish in the gelatin-related and food and other businesses due to higher costs of raw materials and other inputs.
How to read this page
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