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
5.2
Year-on-year change in revenue (%)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal 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¥11,533 million+5.2%
Operating profit¥634 million-3.8%
Ordinary income¥826 million+21.7%
Net income¥464 million+14.3%
Gross Profit Margin
Rate15.4%
Year-on-year change (points)Down 0.1 percentage points from 15.5%
Operating profit margin
Rate5.5%
Year-on-year change (points)Down 0.5 percentage points from 6.0%
Full-year earnings forecast
Fiscal Period CoveredFiscal year ending March 2027
Net Sales
¥12,125 million
Operating profit
¥740 million
Ordinary income
¥751 million
Profit attributable to owners of the parent
¥508 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Achieved the financial results plan for the fiscal year ended March 2026Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Acquisition through M&A of 2 welfare equipment sales offices
- Opening of 1 new group home
- Stronger sales efforts and service reviews at existing facilities
- Higher prices and rising labor costs
- Costs of opening new facilities
- Impairment Losses
The company identifies the factors but does not state the amount attributable to each one.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The presentation cites higher prices, rising labor costs, higher construction costs and the possibility of further price increases due to the situation in the Middle East. Numerical assumptions are not disclosed.New initiatives
- Renovate an existing fee-based senior housing facility and convert and open it as a group home in March 2027
- Consider and expand M&A targeting companies in the same industry
- Expand acceptance of overseas personnel
- Increase revenue in the welfare equipment business by utilizing the Company's own rental products
Key KPIsA metric the company considers important as a management benchmark.
- Number of users of the welfare equipment business27,585 People
- Number of users of the nursing care business2,686 People
- Number of operating locations117 Location
- Consolidated number of employees993 people
Segment results
- Assistive-products businessNet Sales¥4,974 millionYear-on-year change in revenue8.4Operating profit¥320 millionYear-on-year operating profit growth2.3
- Nursing Care BusinessNet Sales¥6,559 millionYear-on-year change in revenue2.8Operating profit¥313 millionYear-on-year operating profit growth-9.4
Medium-term management plan targets
Target fiscal yearFiscal year ending March 2029
Net Sales
¥15,000 million
Adjusted operating profit
¥1,000 million
M&A allocation
¥1,000 million
Financial targets
Equity ratioTargeting approximately 50%
Actual results
End of March 202642.1%
Market Size / Share
The presentation states that the Company aims to increase its regional market share, but market share figures and market size are not disclosedNumber of stores and locations
End of period117
Store openings during the periodOpened 1 new group home and acquired 2 welfare equipment sales offices through M&A
Store closures during the periodWithdrew from intensive home-visit nursing care
Number of employees
Consolidated993
Average number of temporary employees310
Hiring planRecruitment will be expanded. Acceptance of overseas personnel will be increased.
Annual Dividend
Forecast for the fiscal year ending March 2027
Annual¥43
Interim¥18
End of period¥25
Actual results for the fiscal year ending March 2026
Annual¥38
Interim¥13
End of period¥25
Payout ratio
Forecast consolidated dividend payout ratio of 20.6%; while the equity ratio remains below 50%, the Company aims for a consolidated dividend payout ratio of 25%Acquisition of treasury shares
The Company has disclosed past share repurchases and references to share repurchases and cancellations, but the amount, number of shares and period for the repurchase program are not disclosed| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥11,533 million (YoY +5.2%) |
| Operating profit | ¥634 million (YoY -3.8%) |
| Ordinary income | ¥826 million (YoY +21.7%) |
| Net income | ¥464 million (YoY +14.3%) |
| Gross Profit Margin | Rate 15.4% / Year-on-year change (points) Down 0.1 percentage points from 15.5% |
| Operating profit margin | Rate 5.5% / Year-on-year change (points) Down 0.5 percentage points from 6.0% |
| Full-year earnings forecast | Fiscal Period Covered Fiscal year ending March 2027 / Net Sales ¥12,125 million / Operating profit ¥740 million / Ordinary income ¥751 million / Profit attributable to owners of the parent ¥508 million |
| Self-assessment against the plan | Achieved the financial results plan for the fiscal year ended March 2026 |
| Segment results | Segment Assistive-products business / Net Sales ¥4,974 million / Year-on-year change in revenue 8.4 / Operating profit ¥320 million / Year-on-year operating profit growth 2.3, Segment Nursing Care Business / Net Sales ¥6,559 million / Year-on-year change in revenue 2.8 / Operating profit ¥313 million / Year-on-year operating profit growth -9.4 |
| Breakdown of Factors Affecting the Change | Factors Acquisition through M&A of 2 welfare equipment sales offices / Amount Not disclosed, Factors Opening of 1 new group home / Amount Not disclosed, Factors Stronger sales efforts and service reviews at existing facilities / Amount Not disclosed, Factors Higher prices and rising labor costs / Amount Not disclosed, Factors Costs of opening new facilities / Amount Not disclosed, Factors Impairment Losses / Amount Not disclosed |
| Key KPIs | Indicator name Number of users of the welfare equipment business / Value 27,585 People / Year on year against the same period last year Not disclosed, Indicator name Number of users of the nursing care business / Value 2,686 People / Year on year against the same period last year Not disclosed, Indicator name Number of operating locations / Value 117 Location / Year on year against the same period last year Not disclosed, Indicator name Consolidated number of employees / Value 993 people / Year on year against the same period last year Not disclosed |
| Number of stores and locations | End of period 117 / Store openings during the period Opened 1 new group home and acquired 2 welfare equipment sales offices through M&A / Store closures during the period Withdrew from intensive home-visit nursing care |
| Number of employees | Consolidated 993 / Average number of temporary employees 310 / Change during the period Not disclosed / Hiring plan Recruitment will be expanded. Acceptance of overseas personnel will be increased. |
| Assumptions Underlying the Business Outlook | The presentation cites higher prices, rising labor costs, higher construction costs and the possibility of further price increases due to the situation in the Middle East. Numerical assumptions are not disclosed. |
| Medium-term management plan targets | Target fiscal year Fiscal year ending March 2029 / Net Sales ¥15,000 million / Adjusted operating profit ¥1,000 million / M&A allocation ¥1,000 million |
| Financial targets | Equity ratio Targeting approximately 50% / Actual results End of March 2026 42.1% |
| Annual Dividend | Forecast for the fiscal year ending March 2027 Annual ¥43 / Interim ¥18 / End of period ¥25 / Actual results for the fiscal year ending March 2026 Annual ¥38 / Interim ¥13 / End of period ¥25 |
| Payout ratio | Forecast consolidated dividend payout ratio of 20.6%; while the equity ratio remains below 50%, the Company aims for a consolidated dividend payout ratio of 25% |
| Acquisition of treasury shares | The Company has disclosed past share repurchases and references to share repurchases and cancellations, but the amount, number of shares and period for the repurchase program are not disclosed |
| Market Size / Share | The presentation states that the Company aims to increase its regional market share, but market share figures and market size are not disclosed |
| New initiatives | Renovate an existing fee-based senior housing facility and convert and open it as a group home in March 2027, Consider and expand M&A targeting companies in the same industry, Expand acceptance of overseas personnel, Increase revenue in the welfare equipment business by utilizing the Company's own rental products |
Items this document does not state (8)
Selling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastUnit price and quantity metricsRisk amount incorporated into the outlookCapital 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.Revenue growth was driven by the acquisition through M&A of 2 welfare equipment sales offices, the opening of new nursing care facilities, and stronger sales efforts at existing facilities. In the nursing care business, the Company pursued improvements by providing refresher training in care techniques and customer service and reviewing service delivery and operational management. However, higher prices, rising labor costs, the costs of opening new facilities and impairment losses weighed on profits. For the fiscal year ending March 2027, the Company aims to increase revenue and operating profit through the revitalization of existing facilities, the conversion of nursing care facilities and M&A of companies in the same industry.
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