Worth reading
59In 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
39.6
% (year-on-year decline in operating income)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales91,013¥ millionYear on year -15.2%Progress 43.3%
Operating profit3,980¥ millionYear on year -39.6%Progress 33.2%
Ordinary income4,422¥ millionYear on year -34.0%Progress 35.7%
Net income attributable to owners of the parent3,936¥ millionYear on year -20.7%
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¥124.01
Financial position at period-end
Total assets194,044¥ million
of which net assets 93,912 ¥ millionEquity ratio 48.3%vs. prior year-end -3.2pt
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+6,142
Investment+553
Financials-4,252
Net change+2,443
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¥55,004 million
Segment revenuePlant and Energy Business ¥10,938 million (YoY +2.9%), Energy Solutions Business ¥10,244 million (YoY -54.0%), Industrial machinery business ¥12,188 million (YoY -5.1%), Electronics Business ¥25,225 million (YoY +10.0%), Automotive ¥17,043 million (YoY -27.5%), Healthcare Business ¥11,334 million (YoY +3.8%), Aerospace and Infrastructure Business ¥4,026 million (YoY -4.0%)
Segment profitPlant and Energy Business ¥302 million (YoY -57.9%), Energy Solutions Business ¥566 million (YoY -55.7%), Industrial machinery business ¥293 million (YoY +46.5%), Electronics Business ¥1,179 million (YoY -4.2%), Automotive ¥578 million (YoY -65.0%), Healthcare Business ¥1,062 million (YoY +0.3%), Aerospace and Infrastructure Business ¥183 million (YoY -53.2%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥210,000 million (YoY -4.2%)
Operating profit¥12,000 million (YoY -12.4%)
Ordinary income¥12,400 million (YoY -13.6%)
Profit attributable to owners of the parent¥9,400 million (YoY -5.5%)
Annual Dividend Forecast¥125 → ¥125（0.0%）
Shareholder Return PolicyThe Company will provide continuous and stable dividends based on the higher of the amounts calculated under either of the following criteria: a consolidated dividend payout ratio of 40% or a dividend on equity (DOE) ratio of 4.0%.
Factors Behind Changes in Business Performance
Operating profit declined as the Energy Solutions and Automotive businesses, which recorded large projects in the year-earlier period, experienced a reactionary decline, gross profit decreased in line with the decrease in revenue, and selling, general and administrative expenses increased due to higher personnel expenses associated with base-pay increases, among other factors. Meanwhile, order intake reached a record high as the company secured large projects related to storage batteries and demand for production equipment related to AI semiconductors and data centers.
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 / Excluded 0 / Company name Not applicable
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities ¥1,369 million / Extraordinary loss Not disclosed
Depreciation and amortization¥612 million
Orders received and order backlogOrders received ¥148,904 million / Order backlog Not disclosed
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End32,759,200
Treasury Shares at Period-End1,307,361
| 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 | ¥91,013 million (YoY -15.2%) |
| Operating profit | ¥3,980 million (YoY -39.6%) |
| Ordinary income | ¥4,422 million (YoY -34.0%) |
| Profit attributable to owners of the parent | ¥3,936 million (YoY -20.7%) |
| Net income per share | ¥124.01 |
| Equity ratio | End of the current fiscal period 48.3 / End of previous period 51.5 |
| Total assets | ¥194,044 million |
| Net assets | ¥93,912 million |
| Cash flows from operating activities | ¥6,142 million |
| Cash flows from investing activities | ¥553 million |
| Cash flows from financing activities | ¥-4,252 million |
| Cash and cash equivalents at end of period | ¥55,004 million |
| Full-year earnings forecast | Net Sales ¥210,000 million (YoY -4.2%) / Operating profit ¥12,000 million (YoY -12.4%) / Ordinary income ¥12,400 million (YoY -13.6%) / Profit attributable to owners of the parent ¥9,400 million (YoY -5.5%) |
| Annual Dividend Forecast | ¥125 → ¥125（0.0%） |
| Shareholder Return Policy | The Company will provide continuous and stable dividends based on the higher of the amounts calculated under either of the following criteria: a consolidated dividend payout ratio of 40% or a dividend on equity (DOE) ratio of 4.0%. |
| Segment revenue | Plant and Energy Business ¥10,938 million (YoY +2.9%), Energy Solutions Business ¥10,244 million (YoY -54.0%), Industrial machinery business ¥12,188 million (YoY -5.1%), Electronics Business ¥25,225 million (YoY +10.0%), Automotive ¥17,043 million (YoY -27.5%), Healthcare Business ¥11,334 million (YoY +3.8%), Aerospace and Infrastructure Business ¥4,026 million (YoY -4.0%) |
| Segment profit | Plant and Energy Business ¥302 million (YoY -57.9%), Energy Solutions Business ¥566 million (YoY -55.7%), Industrial machinery business ¥293 million (YoY +46.5%), Electronics Business ¥1,179 million (YoY -4.2%), Automotive ¥578 million (YoY -65.0%), Healthcare Business ¥1,062 million (YoY +0.3%), Aerospace and Infrastructure Business ¥183 million (YoY -53.2%) |
| Orders received and order backlog | Orders received ¥148,904 million / Order backlog Not disclosed |
| Depreciation and amortization | ¥612 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities ¥1,369 million / Extraordinary loss Not disclosed |
| 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 / Excluded 0 / Company name Not applicable |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 32,759,200 |
| Treasury Shares at Period-End | 1,307,361 |
| Factors Behind Changes in Business Performance | Operating profit declined as the Energy Solutions and Automotive businesses, which recorded large projects in the year-earlier period, experienced a reactionary decline, gross profit decreased in line with the decrease in revenue, and selling, general and administrative expenses increased due to higher personnel expenses associated with base-pay increases, among other factors. Meanwhile, order intake reached a record high as the company secured large projects related to storage batteries and demand for production equipment related to AI semiconductors and data centers. |
Items this document does not state (6)
Operating MarginRevision to Earnings ForecastPayout ratioRegional salesImpairment lossMaterial 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.The Energy Solutions and Automotive businesses, which recorded large projects in the year-earlier period, experienced a reactionary decline; gross profit declined in line with the decrease in revenue; and selling, general and administrative expenses increased due to higher personnel expenses associated with base-pay increases, among other factors.
How to read this page
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