Worth reading
55In 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
13.6
Year-on-year change (operating income decline rate)Wording
Conditional
How definitive the wording is.Results for this period
Third quarter1 September 2025 to 31 May 2026ConsolidatedJapanese GAAPNet Sales7,814¥ millionYear on year +2.5%Progress 72.4%
Operating profit591¥ millionYear on year -13.6%Progress 52.8%
Ordinary income647¥ millionYear on year -4.4%Progress 56.3%
Net income attributable to owners of the parent415¥ millionYear on year +4.5%Progress 60.1%
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¥91.96
Financial position at period-end
Total assets16,251¥ million
of which net assets 4,366 ¥ millionEquity ratio 26.9%vs. prior year-end -1.3pt
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.
Segment revenueEnvironment and Energy ¥4,152 million (YoY +4.0%), Power and Heavy Equipment, among others ¥2,964 million (YoY +0.6%), Disaster Prevention and Safety ¥699 million (YoY -4.0%)
Segment profitEnvironment and Energy ¥132 million (YoY -35.6%), Power and Heavy Equipment, among others ¥516 million (YoY -6.5%), Disaster Prevention and Safety ¥100 million (YoY +7.6%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥10,800 million (YoY +6.8%)
Operating profit¥1,120 million (YoY +22.8%)
Ordinary income¥1,150 million (YoY +16.5%)
Net income¥690 million (YoY +20.3%)
Annual Dividend Forecast¥70 → ¥75
Factors Behind Changes in Business Performance
Revenue increased mainly because of higher sales in the Environment & Energy segment and the contribution of 東鉄工株式会社. Profit declined because multiple large-scale business negotiations at コーベックス株式会社 were carried over to the fourth quarter or later as the company assessed the situation in the Middle East and considered its response, delaying their contribution to revenue and profit for the current quarter, among other factors.
Disclosure regarding the going concern assumption
No applicable matters.
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 1 / Name of newly added company 東鉄工株式会社 / Excluded 0 / Excluded Company Name Not disclosed
Material subsequent eventsAt a meeting of the Board of Directors held on 15 June 2026, the company resolved to acquire all issued shares of マルコ電機技術株式会社 and make it a wholly owned subsidiary. The scheduled acquisition date is 31 July 2026. The acquisition cost comprises the ¥553.700 million purchase price for the shares and approximately ¥34.000 million in advisory and other fees. The post-acquisition ownership ratio will be 100%.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥493 thousand, Gain on negative goodwill ¥59,781 thousand / Extraordinary loss Loss on sale of fixed assets ¥109 thousand, Loss on Disposal of Fixed Assets ¥34,255 thousand
Depreciation and amortization¥228,756 thousand
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingWhether applicable No / Subject person Not disclosed
Issued Shares at Period-End4,700,826 Shares
Treasury Shares at Period-End177,666 Shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 September 2025 to 31 May 2026 |
| Net Sales | ¥7,814 million (YoY +2.5%) |
| Operating profit | ¥591 million (YoY -13.6%) |
| Ordinary income | ¥647 million (YoY -4.4%) |
| Profit attributable to owners of the parent | ¥415 million (YoY +4.5%) |
| Net income per share | ¥91.96 |
| Equity ratio | End of the current fiscal period 26.9 / End of previous period 28.2 |
| Total assets | ¥16,251 million |
| Net assets | ¥4,366 million |
| Full-year earnings forecast | Net Sales ¥10,800 million (YoY +6.8%) / Operating profit ¥1,120 million (YoY +22.8%) / Ordinary income ¥1,150 million (YoY +16.5%) / Net income ¥690 million (YoY +20.3%) |
| Annual Dividend Forecast | ¥70 → ¥75 |
| Segment revenue | Environment and Energy ¥4,152 million (YoY +4.0%), Power and Heavy Equipment, among others ¥2,964 million (YoY +0.6%), Disaster Prevention and Safety ¥699 million (YoY -4.0%) |
| Segment profit | Environment and Energy ¥132 million (YoY -35.6%), Power and Heavy Equipment, among others ¥516 million (YoY -6.5%), Disaster Prevention and Safety ¥100 million (YoY +7.6%) |
| Depreciation and amortization | ¥228,756 thousand |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥493 thousand, Gain on negative goodwill ¥59,781 thousand / Extraordinary loss Loss on sale of fixed assets ¥109 thousand, Loss on Disposal of Fixed Assets ¥34,255 thousand |
| Disclosure regarding the going concern assumption | No applicable matters. |
| 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 1 / Name of newly added company 東鉄工株式会社 / Excluded 0 / Excluded Company Name Not disclosed |
| Material subsequent events | At a meeting of the Board of Directors held on 15 June 2026, the company resolved to acquire all issued shares of マルコ電機技術株式会社 and make it a wholly owned subsidiary. The scheduled acquisition date is 31 July 2026. The acquisition cost comprises the ¥553.700 million purchase price for the shares and approximately ¥34.000 million in advisory and other fees. The post-acquisition ownership ratio will be 100%. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 4,700,826 Shares |
| Treasury Shares at Period-End | 177,666 Shares |
| Factors Behind Changes in Business Performance | Revenue increased mainly because of higher sales in the Environment & Energy segment and the contribution of 東鉄工株式会社. Profit declined because multiple large-scale business negotiations at コーベックス株式会社 were carried over to the fourth quarter or later as the company assessed the situation in the Middle East and considered its response, delaying their contribution to revenue and profit for the current quarter, among other factors. |
Items this document does not state (11)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodRevision to Earnings ForecastPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogImpairment loss
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 increased mainly because of higher sales in the Environment & Energy segment and the contribution of 東鉄工株式会社 to the Power & Heavy Machinery, etc. segment. Profit contributions were limited because multiple large-scale business negotiations at コーベックス株式会社 were carried over to the fourth quarter or later as the company assessed the situation in the Middle East and considered its response.
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