Komori
Financial results presentation9435HIKARI TSUSHIN,INC.Information and Communications, Services and Others

Financial Results Presentation for the Fiscal Year Ending March 2026

For the fiscal year ended March 2026, revenue, stock profit, operating profit, profit before tax and net profit exceeded the previous fiscal year, with operating profit and other metrics reaching record highs. For the fiscal year ending March 2027, operating profit is expected to reach another record high, while profit before tax and net profit are expected to decline due to the reversal of foreign exchange gains. The company also increased its dividend and established a share repurchase program.

Worth reading
67In 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
116
¥100 million (year-on-year increase in operating income)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ending March 2026, full year11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥7,347 100 million+7.0%
Operating profit¥1,166 100 million+11.0%
Ordinary income¥1,990 100 million +32.0%profit before tax
Net income¥1,510 100 million +28.0%profit for the year attributable to owners of the parent
Full-year earnings forecast
Revenue
¥7,750 100 million
Stock profit
¥2,015 100 million
Operating profit
¥1,300 100 million
Income before taxes
¥1,775 100 million
Profit before tax excluding foreign exchange gains or losses
¥1,797 100 million
Profit for the period attributable to owners of the parent
¥1,200 100 million
Acquisition costs excluding one-time gains or losses and other items
¥715 100 million
Operating profit excluding one-time gains or losses and other items
¥1,300 100 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Foreign Exchange Gains¥24.5 billion
  • Unrealized gains on securities¥93.8 billion
  • Gains or losses on securities sales¥40.7 billion
  • Gain on business sale¥3.9 billion
  • Impairment Losses-¥400 million
  • Increase in operating profit¥11.6 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Assumed USD/JPY exchange rate¥157
  • EBITDA growth rate10 %
  • Net debt/EBITDA ratio4.0x or lower
New initiatives
  • Begin collaboration with Sinanen Holdings in the LP gas business, with operations scheduled to change from the company to Sinanen at the end of June 2026
  • Expand infrastructure utilization and cross-selling in the LP gas business
  • Establish a share repurchase program for up to ¥10 billion and 3.5 million shares
  • Increase the year-end dividend by ¥5 per share
Key KPIsA metric the company considers important as a management benchmark.
  • Stock profit¥1,863 100 million
    Year on year against the same period last year+11.0%
  • Number of proprietary products acquired (electricity and low voltage)122 % year-on-year
  • Number of proprietary products acquired (communications and content)109 % year-on-year
  • Number of proprietary products acquired (insurance and small-amount short-term insurance)115 % year-on-year
  • Number of listed equity-method affiliates42 companies
    Year on year against the same period last yearDown 1 company versus end-December 2025
  • Market value of pure investments¥14,784 100 million
    Year on year against the same period last year+26.0%
  • Share of operating profit (most recent 12 months)¥1,399 100 million
    Year on year against the same period last year+21.0%
  • Earnings Yield16.3 %
    Year on year against the same period last year+3.0%
Segment results
Electricity and gas
Net Sales
¥3,195 100 million+10.0%
Stock profit
¥689 100 million+12.0%
Acquisition costs
¥331 100 million+28.0%
Operating profit
¥358 100 million+1.0%
Communications
Net Sales
¥1,275 100 million+4.0%
Stock profit
¥424 100 million+7.0%
Acquisition costs
¥138 100 million0.0%
Operating profit
¥285 100 million+11.0%
Beverages
Net Sales
¥853 100 million+7.0%
Stock profit
¥344 100 million+12.0%
Acquisition costs
¥242 100 million+9.0%
Operating profit
¥101 100 million+18.0%
Insurance
Net Sales
¥314 100 million+16.0%
Stock profit
¥177 100 million+35.0%
Acquisition costs
¥83 100 million+66.0%
Operating profit
¥93 100 million+15.0%
Finance
Net Sales
¥455 100 million+37.0%
Acquisition costs
¥220 100 million+23.0%
Operating profit
¥220 100 million+23.0%
Solutions
Net Sales
¥268 100 million-4.0%
Stock profit
¥94 100 million+10.0%
Acquisition costs
¥61 100 million+9.0%
Operating profit
¥33 100 million+12.0%
Agency sales
Net Sales
¥984 100 million-8.0%
Stock profit
¥132 100 million-4.0%
Acquisition costs
¥31 100 million+35.0%
Operating profit
¥100 100 million-12.0%
Financial targets
Net debt/EBITDA ratioTo remain at 4.0x or lower
Equity ratio
41.5 %
Actual value41.5
ROE
18.8 % pro forma consolidated ROE
Actual value18.8
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
¥252 100 million
DetailsYear-on-year increase in foreign exchange losses
Market Size / Share
Domestic LP gas sales market shareNo. 3
LP gas customersApproximately 560,000 households
Number of employees
Number of Employees4,835 people average
Annual Dividend
Annual dividend per share¥751
Interim and Year-End BreakdownQ1 ¥181, Q2 ¥185, Q3 ¥190, Q4 ¥195
Acquisition of treasury shares
Amount under the acquisition limit100
Amount unit¥100 million (maximum)
Number of shares under the acquisition limit35
Share unit10,000 shares (maximum)
Period1 July 2026–30 June 2027
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFiscal year ending March 2026, full year
Net Sales¥7,347 100 million (YoY +7.0%)
Operating profit¥1,166 100 million (YoY +11.0%)
Ordinary income¥1,990 100 million (profit before tax) (YoY +32.0%)
Net income¥1,510 100 million (profit for the year attributable to owners of the parent) (YoY +28.0%)
Full-year earnings forecastRevenue ¥7,750 100 million / Stock profit ¥2,015 100 million / Operating profit ¥1,300 100 million / Income before taxes ¥1,775 100 million / Profit before tax excluding foreign exchange gains or losses ¥1,797 100 million / Profit for the period attributable to owners of the parent ¥1,200 100 million / Acquisition costs excluding one-time gains or losses and other items ¥715 100 million / Operating profit excluding one-time gains or losses and other items ¥1,300 100 million
Segment resultsElectricity and gas Net Sales ¥3,195 100 million (YoY +10.0%) / Stock profit ¥689 100 million (YoY +12.0%) / Acquisition costs ¥331 100 million (YoY +28.0%) / Operating profit ¥358 100 million (YoY +1.0%) / Communications Net Sales ¥1,275 100 million (YoY +4.0%) / Stock profit ¥424 100 million (YoY +7.0%) / Acquisition costs ¥138 100 million (YoY 0.0%) / Operating profit ¥285 100 million (YoY +11.0%) / Beverages Net Sales ¥853 100 million (YoY +7.0%) / Stock profit ¥344 100 million (YoY +12.0%) / Acquisition costs ¥242 100 million (YoY +9.0%) / Operating profit ¥101 100 million (YoY +18.0%) / Insurance Net Sales ¥314 100 million (YoY +16.0%) / Stock profit ¥177 100 million (YoY +35.0%) / Acquisition costs ¥83 100 million (YoY +66.0%) / Operating profit ¥93 100 million (YoY +15.0%) / Finance Net Sales ¥455 100 million (YoY +37.0%) / Acquisition costs ¥220 100 million (YoY +23.0%) / Operating profit ¥220 100 million (YoY +23.0%) / Solutions Net Sales ¥268 100 million (YoY -4.0%) / Stock profit ¥94 100 million (YoY +10.0%) / Acquisition costs ¥61 100 million (YoY +9.0%) / Operating profit ¥33 100 million (YoY +12.0%) / Agency sales Net Sales ¥984 100 million (YoY -8.0%) / Stock profit ¥132 100 million (YoY -4.0%) / Acquisition costs ¥31 100 million (YoY +35.0%) / Operating profit ¥100 100 million (YoY -12.0%)
Breakdown of Factors Affecting the ChangeFactors Foreign Exchange Gains / Amount ¥24.5 billion, Factors Unrealized gains on securities / Amount ¥93.8 billion, Factors Gains or losses on securities sales / Amount ¥40.7 billion, Factors Gain on business sale / Amount ¥3.9 billion, Factors Impairment Losses / Amount -¥400 million, Factors Increase in operating profit / Amount ¥11.6 billion
Key KPIsIndicator name Stock profit / Value ¥1,863 100 million / Year on year against the same period last year ¥11 100 million, Indicator name Number of proprietary products acquired (electricity and low voltage) / Value 122 % year-on-year / Year on year against the same period last year Not disclosed, Indicator name Number of proprietary products acquired (communications and content) / Value 109 % year-on-year / Year on year against the same period last year Not disclosed, Indicator name Number of proprietary products acquired (insurance and small-amount short-term insurance) / Value 115 % year-on-year / Year on year against the same period last year Not disclosed, Indicator name Number of listed equity-method affiliates / Value 42 companies / Year on year against the same period last year Down 1 company versus end-December 2025, Indicator name Market value of pure investments / Value ¥14,784 100 million / Year on year against the same period last year ¥26 100 million, Indicator name Share of operating profit (most recent 12 months) / Value ¥1,399 100 million / Year on year against the same period last year ¥21 100 million, Indicator name Earnings Yield / Value 16.3 % / Year on year against the same period last year 3 %
Number of employeesNumber of Employees 4,835 people (average) / Change during the period Not disclosed / Hiring plan Not disclosed
Assumptions Underlying the Business OutlookItem Assumed USD/JPY exchange rate / Value ¥157, Item EBITDA growth rate / Value 10 %, Item Net debt/EBITDA ratio / Value 4.0x or lower
Risk amount incorporated into the outlookAmount ¥252 100 million / Details Year-on-year increase in foreign exchange losses
Financial targetsNet debt/EBITDA ratio To remain at 4.0x or lower / Equity ratio 41.5 % / ROE 18.8 % (pro forma consolidated ROE)
Annual DividendAnnual dividend per share ¥751 / Interim and Year-End Breakdown Q1 ¥181, Q2 ¥185, Q3 ¥190, Q4 ¥195
Acquisition of treasury sharesAmount under the acquisition limit 100 / Amount unit ¥100 million (maximum) / Number of shares under the acquisition limit 35 / Share unit 10,000 shares (maximum) / Period 1 July 2026–30 June 2027
Market Size / ShareDomestic LP gas sales market share No. 3 / LP gas customers Approximately 560,000 households
New initiativesBegin collaboration with Sinanen Holdings in the LP gas business, with operations scheduled to change from the company to Sinanen at the end of June 2026, Expand infrastructure utilization and cross-selling in the LP gas business, Establish a share repurchase program for up to ¥10 billion and 3.5 million shares, Increase the year-end dividend by ¥5 per share
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsMedium-term management plan targetsPayout 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.

For the fiscal year ended March 2026, results benefited from an increase in customers held in the electricity, insurance and beverage businesses, strong performance in communications content, foreign exchange gains, and unrealized gains and realized gains or losses on securities. For the fiscal year ending March 2027, the company expects growth in low-voltage electricity contracts, overseas financial services, expanded insurance distribution channels, and an increase in beverage customers together with greater cost efficiency, while assuming a ¥25.2 billion year-on-year increase in foreign exchange losses.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Financial Results Presentation for the Fiscal Year Ending March 2026 | HIKARI TSUSHIN,INC. (9435) timely disclosure | Komori