Komori
Financial results presentation8084RYODEN CORPORATIONTrading & Wholesale

Presentation materials for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2027

For the interim period of the fiscal year ending March 2027, net sales, operating income and ordinary income exceeded the year-earlier period, driven by expanding demand for semiconductor manufacturing equipment and data center-related products, as well as the effects of M&A. The full-year forecasts call for net sales of ¥252.0 billion and operating income of ¥7.5 billion, while growth investments, including M&A in the FA business and the establishment of new organisational units, are also under way.

Worth reading
73In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
84.9
Year-on-year change in operating profit (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationSecond quarter (interim period) of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales124,030 Millions of yen+21.5%
Operating profit4,499 Millions of yen+84.9%
Ordinary income4,630 Millions of yen+73.6%
Net income3,147 Millions of yen+44.9%
Selling, general and administrative expenses680 Millions of yen increase
Full-year earnings forecast
Net Sales
252,000 Millions of yen
Operating profit
7,500 Millions of yen
FA Systems revenue
67,400 Millions of yen
FA systems operating profit
3,500 Millions of yen
Heating, Cooling & Building Systems Revenue
40,900 Millions of yen
Heating, Cooling & Building Systems Operating Profit
2,600 Millions of yen
X-Tech net sales
9,400 Millions of yen
X-Tech operating profit
200 Millions of yen
Electronics revenue
134,300 Millions of yen
Electronics operating profit
4,100 Millions of yen
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。
Company-wide revenue49.2
Consolidated operating profit60
FA Systems revenue49.6
FA systems operating profit49.7
Heating, Cooling & Building Systems Revenue47.1
Heating, Cooling & Building Systems Operating Profit53
X-Tech net sales42.1
X-Tech operating profit13
Electronics revenue50.2
Electronics operating profit62.8
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year-on-year change in operating profit
Gross Profit Margin Change (Excluding Foreign Exchange Effects)568
Gross Profit Impact of Sales Changes (Excluding Foreign Exchange Effects)1,828
Foreign exchange factors350
Increase in selling expenses-680
New initiatives
  • Making 四国三菱電機販売株式会社 a subsidiary through the acquisition of all its shares, followed by an absorption-type merger (scheduled for 5 January 2027)
  • Establishment of the Division overseeing investment strategy promotion (1 October 2026)
  • Establishment of the SI Business Promotion Office and full-scale entry into the IoT instrumentation systems business
  • Introduction of ROIC as a management metric for each business division
  • Implementation of progressive dividends and a policy of maintaining DOE at 4.5% or higher during the period of the medium-term management plan
Key KPIsA metric the company considers important as a management benchmark.
  • Equity ratio52.7 %
  • ROE5.7 %
  • PBR1.04 Times
  • PER18.09 Times
  • Book value per share2,258.1 Yen
  • Closing Share Price2,352 Yen
Segment results
FA system
Net Sales
33,404 Millions of yen+41.3%
Operating profit
1,738 Millions of yen
Heating, Cooling & Building Systems
Net Sales
19,282 Millions of yen+9.2%
Operating profit
1,379 Millions of yen
X-Tech
Net Sales
3,955 Millions of yen+2.1%
Operating profit
26 Millions of yen
Electronics
Net Sales
67,412 Millions of yen+18.5%
Operating profit
2,576 Millions of yen
Medium-term management plan targets
ROEAt least 10.0% (FY2029 target)
PBRAt least 1.0x
Business Investment in Growth Drivers¥25.0 billion–¥35.0 billion (cumulative for FY2025–FY2029)
Financial targets
ROE targetAt least 10%
Actual ROE5.7%
P/B ratio targetAt least 1.0x
Actual PBR1.04x year on year
Cost of equity7.41%
Market Size / Share
Commercial HVAC Equipment Market Size¥499.7 billion in FY2024, with ¥566.8 billion forecast for FY2030
Plant-Factory Vegetable Sales ShareLeading market share (percentage Not disclosed)
Sales value of semiconductor manufacturing equipment made in JapanFY2026, forecast to increase 26% year on year
Number of stores and locations
31 domestic locations and 21 overseas locations (as of October 2026). Number of locations opened or closed during the period: Not disclosed
Number of employees
Number of EmployeesApproximately 1,500 people
As ofAs of October 2026
Annual Dividend
Annual¥85 (forecast)
Interim¥85 (before the stock split)
End of period¥42.5 (after the stock split)
Acquisition of treasury shares
The disclosure states that the company announced the implementation in July 2026, but the amount, number of shares and period for the acquisition program are Not disclosed.
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredSecond quarter (interim period) of the fiscal year ending March 2027
Net Sales124,030 Millions of yen (YoY +21.5%)
Operating profit4,499 Millions of yen (YoY +84.9%)
Ordinary income4,630 Millions of yen (YoY +73.6%)
Net income3,147 Millions of yen (YoY +44.9%)
Selling, general and administrative expenses680 Millions of yen (increase)
Full-year earnings forecastNet Sales 252,000 Millions of yen / Operating profit 7,500 Millions of yen / FA Systems revenue 67,400 Millions of yen / FA systems operating profit 3,500 Millions of yen / Heating, Cooling & Building Systems Revenue 40,900 Millions of yen / Heating, Cooling & Building Systems Operating Profit 2,600 Millions of yen / X-Tech net sales 9,400 Millions of yen / X-Tech operating profit 200 Millions of yen / Electronics revenue 134,300 Millions of yen / Electronics operating profit 4,100 Millions of yen
Progress against full-year forecastCompany-wide revenue 49.2 / Consolidated operating profit 60 / FA Systems revenue 49.6 / FA systems operating profit 49.7 / Heating, Cooling & Building Systems Revenue 47.1 / Heating, Cooling & Building Systems Operating Profit 53 / X-Tech net sales 42.1 / X-Tech operating profit 13 / Electronics revenue 50.2 / Electronics operating profit 62.8
Segment resultsFA system Net Sales 33,404 Millions of yen (YoY +41.3%) / Operating profit 1,738 Millions of yen / Heating, Cooling & Building Systems Net Sales 19,282 Millions of yen (YoY +9.2%) / Operating profit 1,379 Millions of yen / X-Tech Net Sales 3,955 Millions of yen (YoY +2.1%) / Operating profit 26 Millions of yen / Electronics Net Sales 67,412 Millions of yen (YoY +18.5%) / Operating profit 2,576 Millions of yen
Breakdown of Factors Affecting the ChangeYear-on-year change in operating profit Gross Profit Margin Change (Excluding Foreign Exchange Effects) 568 / Gross Profit Impact of Sales Changes (Excluding Foreign Exchange Effects) 1,828 / Foreign exchange factors 350 / Increase in selling expenses -680
Key KPIsIndicator name Equity ratio / Value 52.7 % / Year on year against the same period last year Not disclosed, Indicator name ROE / Value 5.7 % / Year on year against the same period last year Not disclosed, Indicator name PBR / Value 1.04 Times / Year on year against the same period last year Not disclosed, Indicator name PER / Value 18.09 Times / Year on year against the same period last year Not disclosed, Indicator name Book value per share / Value 2,258.1 Yen / Year on year against the same period last year Not disclosed, Indicator name Closing Share Price / Value 2,352 Yen / Year on year against the same period last year Not disclosed
Number of stores and locations31 domestic locations and 21 overseas locations (as of October 2026). Number of locations opened or closed during the period: Not disclosed
Number of employeesNumber of Employees Approximately 1,500 people / As of As of October 2026 / Changes during the period and hiring plan Not disclosed
Medium-term management plan targetsROE At least 10.0% (FY2029 target) / PBR At least 1.0x / Business Investment in Growth Drivers ¥25.0 billion–¥35.0 billion (cumulative for FY2025–FY2029)
Financial targetsROE target At least 10% / Actual ROE 5.7% / P/B ratio target At least 1.0x / Actual PBR 1.04x year on year / Cost of equity 7.41%
Annual DividendAnnual ¥85 (forecast) / Interim ¥85 (before the stock split) / End of period ¥42.5 (after the stock split)
Acquisition of treasury sharesThe disclosure states that the company announced the implementation in July 2026, but the amount, number of shares and period for the acquisition program are Not disclosed.
Market Size / ShareCommercial HVAC Equipment Market Size ¥499.7 billion in FY2024, with ¥566.8 billion forecast for FY2030 / Plant-Factory Vegetable Sales Share Leading market share (percentage Not disclosed) / Sales value of semiconductor manufacturing equipment made in Japan FY2026, forecast to increase 26% year on year
New initiativesMaking 四国三菱電機販売株式会社 a subsidiary through the acquisition of all its shares, followed by an absorption-type merger (scheduled for 5 January 2027), Establishment of the Division overseeing investment strategy promotion (1 October 2026), Establishment of the SI Business Promotion Office and full-scale entry into the IoT instrumentation systems business, Introduction of ROIC as a management metric for each business division, Implementation of progressive dividends and a policy of maintaining DOE at 4.5% or higher during the period of the medium-term management plan
Items this document does not state (11)
Gross Profit MarginOperating profit marginResults for the three months of the current quarterSelf-assessment against the planUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout ratioCapital expendituresOrders 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.

Increased orders for semiconductor manufacturing equipment, higher machine tool production, data center-related demand, increased shipments of air-conditioning products and the expansion of the sales territory through M&A contributed to higher revenue and earnings. In addition, the increase in gross profit resulting from higher sales pushed up operating income.

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