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
15.4
¥100 million (year-on-year increase in operating income)Wording
Definitive
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal year ending March 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales1,084.8 Hundreds of millions of yen+15.7%
Operating profit80.3 Hundreds of millions of yen+23.8%
Ordinary income90.3 Hundreds of millions of yen+8.9%
Net income75 Hundreds of millions of yen-3.7%
Selling, general and administrative expenses¥-16.2 100 million factors behind the change in net income
Results for the three months of the current quarter
Net Sales
347.5 Hundreds of millions of yen
Operating profit
31.9 Hundreds of millions of yen
Ordinary income
34.9 Hundreds of millions of yen
Net income
28.8 Hundreds of millions of yen
Full-year earnings forecast
Net Sales
1,250 Hundreds of millions of yen
Operating profit
91 Hundreds of millions of yen
Ordinary income
98 Hundreds of millions of yen
Net income
76 Hundreds of millions of yen
Earnings per share
¥215.33
Annual Dividend
¥93
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。
Fiscal year ending March 2026 results versus initial forecast
Net Sales100.4
Operating profit101.6
Ordinary income101.4
Net income102.7
By segment
Energy Business
Net Sales101.2
Segment profit111.3
Industrial-Machinery Business
Net Sales98.8
Segment profit48.6
Product Business
Net Sales101.1
Segment profit105.9
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net income for the current fiscal year
Gross profit31.6
Selling, general and administrative expenses-16.2
Non-Operating Income and Expenses-8
Extraordinary Gains and Losses-8.3
Income Taxes-2
Attributable to non-controlling interests-0.1
Net income for the fiscal year ended March 2025 after deducting negative goodwill68.4
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Organic business growth rate
6 %/year
D/E ratioTargeting 1x
JCR long-term issuer ratingAssuming the JCR long-term issuer rating remains at A-
New initiatives
- Making 旭サナック a subsidiary and advancing the integration process
- Share repurchases from 14 May to 31 August 2026
- Changing the shareholder return policy from a target total payout ratio of 45% to a target consolidated dividend payout ratio of 45%
- Establishing the framework for launching the nuclear power generation equipment business
- Investing in human capital based on a new personnel system and health-oriented management
- Complementary M&A, investments in trading-partner manufacturers, and strengthened collaboration with equity-method affiliates
Key KPIsA metric the company considers important as a management benchmark.
Transaction volume
2,957.2 Hundreds of millions of yen+1.8%
Orders received
1,185.6 Hundreds of millions of yen+14.8%
Order backlog
768.4 Hundreds of millions of yen+15.1%
Equity ratio
27.4 %
ROE
14.8 %
IR meetings
150 Engagements
Shareholders
20,279 People
yoy2.6x compared with fiscal 2022
Equity trading value
¥441.4 million/day
yoy13.4x compared with fiscal 2022
Segment results
Energy Business
Net Sales
384.9 Hundreds of millions of yen+9.5%
Segment profit
40.1 Hundreds of millions of yen+11.5%
Industrial-Machinery Business
Net Sales
355.9 Hundreds of millions of yen+43.4%
Segment profit
1.4 Hundreds of millions of yen
yoyProfitability
Product Business
Net Sales
343.9 Hundreds of millions of yen+1.9%
Segment profit
44.5 Hundreds of millions of yen+23.8%
Medium-term management plan targets
Plan nameVIORB2030 Phase1
Final yearFiscal 2026
Operating profit target
91 Hundreds of millions of yen
Comparison with actual results
FY2025 actual
80.3 Hundreds of millions of yen
FY2026 target
91 Hundreds of millions of yen
Financial targets
ROE target
10 % or higher
Equity ratio
27.4 % actual as of the end of March 2026
D/E ratio
1 Targeting x
Orders received and order backlog
Orders received
1,185.6 Hundreds of millions of yen
Order backlog
768.4 Hundreds of millions of yen
Annual Dividend
¥93
Interim46
End of period47
Payout ratio
45 Targeting %
Forecast43.2
Acquisition of treasury shares
Acquisition amount¥3 billion (maximum)
Number of shares acquired1,050,000 shares (maximum)
Acquisition period14 May 2026–31 August 2026
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | 1,084.8 Hundreds of millions of yen (YoY +15.7%) |
| Operating profit | 80.3 Hundreds of millions of yen (YoY +23.8%) |
| Ordinary income | 90.3 Hundreds of millions of yen (YoY +8.9%) |
| Net income | 75 Hundreds of millions of yen (YoY -3.7%) |
| Selling, general and administrative expenses | ¥-16.2 100 million (factors behind the change in net income) |
| Results for the three months of the current quarter | Net Sales 347.5 Hundreds of millions of yen / Operating profit 31.9 Hundreds of millions of yen / Ordinary income 34.9 Hundreds of millions of yen / Net income 28.8 Hundreds of millions of yen |
| Full-year earnings forecast | Net Sales 1,250 Hundreds of millions of yen / Operating profit 91 Hundreds of millions of yen / Ordinary income 98 Hundreds of millions of yen / Net income 76 Hundreds of millions of yen / Earnings per share ¥215.33 / Annual Dividend ¥93 |
| Progress against full-year forecast | Fiscal year ending March 2026 results versus initial forecast Net Sales 100.4 / Operating profit 101.6 / Ordinary income 101.4 / Net income 102.7 / By segment Energy Business Net Sales 101.2 / Segment profit 111.3 / Industrial-Machinery Business Net Sales 98.8 / Segment profit 48.6 / Product Business Net Sales 101.1 / Segment profit 105.9 |
| Segment results | Energy Business Net Sales 384.9 Hundreds of millions of yen (YoY +9.5%) / Segment profit 40.1 Hundreds of millions of yen (YoY +11.5%) / Industrial-Machinery Business Net Sales 355.9 Hundreds of millions of yen (YoY +43.4%) / Segment profit 1.4 Hundreds of millions of yen / Product Business Net Sales 343.9 Hundreds of millions of yen (YoY +1.9%) / Segment profit 44.5 Hundreds of millions of yen (YoY +23.8%) |
| Breakdown of Factors Affecting the Change | Net income for the current fiscal year Gross profit 31.6 / Selling, general and administrative expenses -16.2 / Non-Operating Income and Expenses -8 / Extraordinary Gains and Losses -8.3 / Income Taxes -2 / Attributable to non-controlling interests -0.1 / Net income for the fiscal year ended March 2025 after deducting negative goodwill 68.4 |
| Key KPIs | Transaction volume 2,957.2 Hundreds of millions of yen (YoY +1.8%) / Orders received 1,185.6 Hundreds of millions of yen (YoY +14.8%) / Order backlog 768.4 Hundreds of millions of yen (YoY +15.1%) / Equity ratio 27.4 % / ROE 14.8 % / IR meetings 150 Engagements / Shareholders 20,279 People / Equity trading value ¥441.4 million/day |
| Assumptions Underlying the Business Outlook | Organic business growth rate 6 %/year / D/E ratio Targeting 1x / JCR long-term issuer rating Assuming the JCR long-term issuer rating remains at A- |
| Medium-term management plan targets | Plan name VIORB2030 Phase1 / Final year Fiscal 2026 / Operating profit target 91 Hundreds of millions of yen / Comparison with actual results FY2025 actual 80.3 Hundreds of millions of yen / FY2026 target 91 Hundreds of millions of yen |
| Financial targets | ROE target 10 % or higher / Equity ratio 27.4 % (actual as of the end of March 2026) / D/E ratio 1 Targeting x |
| Annual Dividend | ¥93 |
| Payout ratio | 45 Targeting % |
| Acquisition of treasury shares | Acquisition amount ¥3 billion (maximum) / Number of shares acquired 1,050,000 shares (maximum) / Acquisition period 14 May 2026–31 August 2026 |
| Orders received and order backlog | Orders received 1,185.6 Hundreds of millions of yen / Order backlog 768.4 Hundreds of millions of yen |
| New initiatives | Making 旭サナック a subsidiary and advancing the integration process, Share repurchases from 14 May to 31 August 2026, Changing the shareholder return policy from a target total payout ratio of 45% to a target consolidated dividend payout ratio of 45%, Establishing the framework for launching the nuclear power generation equipment business, Investing in human capital based on a new personnel system and health-oriented management, Complementary M&A, investments in trading-partner manufacturers, and strengthened collaboration with equity-method affiliates |
Items this document does not state (10)
Gross Profit MarginOperating profit marginSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookCapital expendituresMarket Size / ShareKey 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.Revenue and profit increased due to strong performance trends at consolidated subsidiaries of the Energy Business and Product Business. In the Energy Business, however, segment profit decreased because negative goodwill had been recorded in the previous fiscal year upon the company becoming an equity-method affiliate. Overall, net income decreased, mainly because gains on the sale of cross-shareholdings declined by ¥650 million year on year.
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