Worth reading
76Important
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
2403
¥ million (year-on-year increase in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 202614 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥143,740 million-3.2%
Operating profit¥9,355 million+34.6%
Ordinary income¥10,246 million+41.3%
Net income¥2,486 million -8.1%net income attributable to owners of the parent
Gross Profit Margin35.9%
Operating profit margin6.5%
Results for the three months of the current quarter
Fourth quarter of the fiscal year ended March 2026
Net Sales
¥34,444 million
Operating profit
¥3,081 million
Ceramic siding sales volume
3,725 thousand tsubo
Selling price
¥4,544 /tsubo
Full-year earnings forecast
Net Sales
¥141,000 million
Operating profit
¥9,600 million
Ordinary income
¥9,800 million
Net income
¥8,000 million net income attributable to owners of the parent
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Domestic business operating profit
Sales factor¥10.2 100 million
Change in inventory (manufacturing fixed costs)¥4.3 100 million
Change in materials and energy costs¥2 100 million
Increase in logistics costs¥-1 100 million
Change in fixed costs¥4.7 100 million
Total domestic businesses¥20.2 100 million
U.S. business operating income
Change in sales6.4 US$ million
Change in gross margin2.3 US$ million
Change in inventory-5 US$ million
Change in inventory write-offs3.1 US$ million
Change in fixed costs-2.4 US$ million
U.S. business total4.4 US$ million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
New housing startsDown 0.3% year on year
Industry-wide siding sales volume
23,400 thousand tsubo
Year on year-4.5
Exchange rate
US$1JPY 155.00 (previous fiscal year: JPY 149.62)
1 yuanJPY 22.00 (previous fiscal year: JPY 20.81)
Crude Oil PricesUSD 90/barrel
New initiatives
- Construction of a new logistics warehouse commenced (investment of JPY 4.68 billion, scheduled to begin operations in 2028)
- Development of a new renovation method for the domestic non-residential market
- Expansion of sales of the Plaster Moen exterior-wall fire-resistant construction system and the Nichiha MARC system, among others
- Consideration of CO2 reductions through fuel switching
- Promotion of human capital management and Nichiha's work-style reform initiative
Key KPIsA metric the company considers important as a management benchmark.
- Domestic ceramic siding sales volume14,333 thousand tsuboYear on year against the same period last year-4.4%
- Industry-wide ceramic siding sales volume24,498 thousand tsuboYear on year against the same period last year-2.8%
- Industry share58.5 %Year on year against the same period last year-1.0%
- U.S. commercial premium-product revenue151.4 US$ millionYear on year against the same period last year+6.6%
- U.S. commercial premium-product operating income21.9 US$ millionYear on year against the same period last year+25.7%
- ABI (commercial and industrial)52.5 Index
- Premium-product revenue mix66.3 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Fiber-cement siding
Sales volume
14,333 thousand tsubo
Year on year against the same period last year-4.4%
Fourth quarter of the fiscal year ended March 2026
Sales volume
3,725 thousand tsubo
Selling price
¥4,544 /tsubo
Segment results
Domestic
Net Sales
¥115,269 million
Operating profit
¥6,560 million
Operating profit_yoy_pct44.7
United States
Net Sales
¥29,584 million
Operating profit
¥1,875 million
Operating profit_yoy_pct-6.6
China
Net Sales
¥3,930 million
Operating profit
¥342 million
Operating profit_yoy_pct121
Medium-term management plan targets
Target fiscal yearFiscal year ending March 2027
Net Sales
¥1,610 100 million
U.S. business revenue
¥384 100 million
Operating profit
¥165 100 million
U.S. business operating income
¥79 100 million
Operating profit margin10.2%
Financial targets
Equity ratio
Target70% or less
Actual results for the fiscal year ending March 202672.2%
ROE
Target9%
Actual results for the fiscal year ending March 20262.0%
ROIC
Target8%
Actual results for the fiscal year ending March 20264.8%
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
¥10 100 million
DetailsHigher energy costs resulting from rising crude oil prices amid heightened tensions in the Middle East
Market Size / Share
Domestic new housing starts
711 thousand households
Year on year against the same period last year-12.9%
Industry-wide siding sales volume
24,498 thousand tsubo
Year on year against the same period last year-2.8%
Company market share
58.5 %
Year on year against the same period last yearDown 1.0 percentage points year on year
U.S. housing starts
1,502 thousand units seasonally adjusted annual rate, March
Capital expenditures
6,775 JPY millions forecast for the fiscal year ending March 2027, including JPY 2,029 million for a new logistics warehouse
Annual Dividend
Annual dividend per shareJPY 114 per share
Interim Dividend¥57
Year-end dividend¥57
Payout ratio
47.3% (forecast for the fiscal year ending March 2027)Acquisition of treasury shares
The company plans to repurchase treasury shares when deemed necessary. The repurchase authorization amount, number of shares and period are not disclosed.| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥143,740 million (YoY -3.2%) |
| Operating profit | ¥9,355 million (YoY +34.6%) |
| Ordinary income | ¥10,246 million (YoY +41.3%) |
| Net income | ¥2,486 million (net income attributable to owners of the parent) (YoY -8.1%) |
| Gross Profit Margin | 35.9% |
| Operating profit margin | 6.5% |
| Results for the three months of the current quarter | Subject Fourth quarter of the fiscal year ended March 2026 / Net Sales ¥34,444 million / Operating profit ¥3,081 million / Ceramic siding sales volume 3,725 thousand tsubo / Selling price ¥4,544 /tsubo |
| Full-year earnings forecast | Net Sales ¥141,000 million / Operating profit ¥9,600 million / Ordinary income ¥9,800 million / Net income ¥8,000 million (net income attributable to owners of the parent) |
| Segment results | Domestic Net Sales ¥115,269 million / Operating profit ¥6,560 million / Operating profit_yoy_pct 44.7 / United States Net Sales ¥29,584 million / Operating profit ¥1,875 million / Operating profit_yoy_pct -6.6 / China Net Sales ¥3,930 million / Operating profit ¥342 million / Operating profit_yoy_pct 121 |
| Breakdown of Factors Affecting the Change | Domestic business operating profit Sales factor ¥10.2 100 million / Change in inventory (manufacturing fixed costs) ¥4.3 100 million / Change in materials and energy costs ¥2 100 million / Increase in logistics costs ¥-1 100 million / Change in fixed costs ¥4.7 100 million / Total domestic businesses ¥20.2 100 million / U.S. business operating income Change in sales 6.4 US$ million / Change in gross margin 2.3 US$ million / Change in inventory -5 US$ million / Change in inventory write-offs 3.1 US$ million / Change in fixed costs -2.4 US$ million / U.S. business total 4.4 US$ million |
| Key KPIs | Indicator name Domestic ceramic siding sales volume / Value 14,333 thousand tsubo / Year on year against the same period last year -4.4 thousand tsubo, Indicator name Industry-wide ceramic siding sales volume / Value 24,498 thousand tsubo / Year on year against the same period last year -2.8 thousand tsubo, Indicator name Industry share / Value 58.5 % / Year on year against the same period last year -1 %, Indicator name U.S. commercial premium-product revenue / Value 151.4 US$ million / Year on year against the same period last year 6.6 US$ million, Indicator name U.S. commercial premium-product operating income / Value 21.9 US$ million / Year on year against the same period last year 25.7 US$ million, Indicator name ABI (commercial and industrial) / Value 52.5 Index / Year on year against the same period last year Not disclosed, Indicator name Premium-product revenue mix / Value 66.3 % / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Fiber-cement siding Sales volume 14,333 thousand tsubo / Selling price Not disclosed / Fourth quarter of the fiscal year ended March 2026 Sales volume 3,725 thousand tsubo / Selling price ¥4,544 /tsubo |
| Assumptions Underlying the Business Outlook | New housing starts Down 0.3% year on year / Industry-wide siding sales volume 23,400 thousand tsubo / Exchange rate US$1 JPY 155.00 (previous fiscal year: JPY 149.62) / 1 yuan JPY 22.00 (previous fiscal year: JPY 20.81) / Crude Oil Prices USD 90/barrel |
| Risk amount incorporated into the outlook | Amount ¥10 100 million / Details Higher energy costs resulting from rising crude oil prices amid heightened tensions in the Middle East |
| Medium-term management plan targets | Target fiscal year Fiscal year ending March 2027 / Net Sales ¥1,610 100 million / U.S. business revenue ¥384 100 million / Operating profit ¥165 100 million / U.S. business operating income ¥79 100 million / Operating profit margin 10.2% |
| Financial targets | Equity ratio Target 70% or less / Actual results for the fiscal year ending March 2026 72.2% / ROE Target 9% / Actual results for the fiscal year ending March 2026 2.0% / ROIC Target 8% / Actual results for the fiscal year ending March 2026 4.8% |
| Annual Dividend | Annual dividend per share JPY 114 per share / Interim Dividend ¥57 / Year-end dividend ¥57 |
| Payout ratio | 47.3% (forecast for the fiscal year ending March 2027) |
| Acquisition of treasury shares | The company plans to repurchase treasury shares when deemed necessary. The repurchase authorization amount, number of shares and period are not disclosed. |
| Capital expenditures | 6,775 JPY millions (forecast for the fiscal year ending March 2027, including JPY 2,029 million for a new logistics warehouse) |
| Market Size / Share | Domestic new housing starts 711 thousand households / Industry-wide siding sales volume 24,498 thousand tsubo / Company market share 58.5 % / U.S. housing starts 1,502 thousand units (seasonally adjusted annual rate, March) |
| New initiatives | Construction of a new logistics warehouse commenced (investment of JPY 4.68 billion, scheduled to begin operations in 2028), Development of a new renovation method for the domestic non-residential market, Expansion of sales of the Plaster Moen exterior-wall fire-resistant construction system and the Nichiha MARC system, among others, Consideration of CO2 reductions through fuel switching, Promotion of human capital management and Nichiha's work-style reform initiative |
Items this document does not state (7)
Selling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesOrders 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.In the domestic business, price revisions, manufacturing fixed costs resulting from changes in inventory, improvements in materials and energy costs, and lower fixed costs increased operating income. In contrast, lower sales volumes in Japan and the United States, together with an extraordinary loss of ¥5,401 million associated with the withdrawal from the general-purpose exterior materials business for U.S. housing, reduced net income.
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.