Worth reading
75Important
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
30749
¥ million (year-on-year increase in net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 2026, full year14 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥209,844 million+17.2%
Operating profit¥12,879 million+21.2%
Ordinary income¥13,175 million+32.4%
Net income¥9,136 million+33.3%
Gross Profit Margin
Rate22.4%
Year on year against the same period last year+0.8 percentage points (21.6% → 22.4%)
Operating profit margin
Rate6.1%
Year on year against the same period last year+0.2 percentage points (5.9% → 6.1%)
Results for the three months of the current quarterA quarterly revenue mix and quarterly operating profit trend chart is provided, but the full set of profit and loss items for the three-month period alone is Not disclosed
Full-year earnings forecast
Orders received
¥246,000 million
Net Sales
¥240,000 million
Operating profit
¥15,000 million
Ordinary income
¥14,500 million
Profit attributable to owners of the parent
¥10,000 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Generally in line with the revised forecast announced when the second-quarter results were releasedBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Strong performance in the Overseas business
¥19,031 million
Foreign Exchange Effects
¥-694 million
Operating profit
Effect of higher revenue
¥6,646 million
Gross profit margin improvement
¥1,690 million
Increase in SG&A expenses
¥-6,084 million
Non-Operating Income and Expenses
Foreign-Exchange Gains and Losses
¥768 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Exchange rate
Fiscal year ending March 2026¥149.6/USD
Forecast for the fiscal year ending March 2027¥150.0/USD
New initiatives
- TOB for SUIDO KIKO KAISHA,LTD. and a capital and business alliance among Toray and SUIDO KIKO KAISHA,LTD.
- Orders received for PFAS removal facilities
- Making E&P Anlagenbau and Schwing Bioset consolidated subsidiaries
- Exclusive domestic license agreement for Nereda® technology
- Demonstration testing with the NTT Group to automate maintenance and inspections using IoT and AI
- Participation in the operations business for the western treatment district of Ube City's public sewerage system
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥274,532 millionYear on year against the same period last year+23.3%
- Order backlog¥389,299 millionYear on year against the same period last year+¥70,598 million
- ROE10.7 %
- ROIC7.2 %
- Equity ratio40.6 %
- D/E ratio0.47 times
Segment results
Environmental Engineering business
Orders received
¥75,410 million+45.3%
Net Sales
¥58,475 million+11.7%
Operating profit
¥4,543 million+92.3%
Systems Solutions Business
Orders received
¥86,880 million+36.9%
Net Sales
¥61,154 million+6.9%
Operating profit
¥2,625 million-23.3%
Operations Business
Orders received
¥48,555 million-13.1%
Net Sales
¥33,455 million+5.2%
Operating profit
¥2,425 million+9.3%
Overseas Operations
Orders received
¥63,686 million+23.7%
Net Sales
¥56,759 million+50.4%
Operating profit
¥3,285 million+25.3%
Medium-term management plan targets
Initial target
Target fiscal yearFiscal year ending March 2028
Orders received¥200 billion or more
Net Sales¥200 billion
Operating profit¥13 billion (6.5% operating margin)
Net income for the current fiscal year¥8.5 billion
ROE10% or higher
Revised targets
Target fiscal yearFiscal year ending March 2028
Orders received¥250 billion or more
Net Sales¥245 billion
Operating profit¥16.5 billion (6.7% operating margin)
Net income for the current fiscal year¥11 billion
ROE11% or higher
Financial targets
ROE
Target10% or higher
FY2025 actual10.7%
ROIC
TargetROIC＞WACC
FY2025 actual7.2%（WACC 6.6%）
Equity ratio
Target40% or more but less than 50%
FY2025 actual40.6%
Debt-to-equity ratio
TargetLess than 0.8x
FY2025 actual0.47x
Orders received and order backlog
Orders received
¥274,532 million
Order backlog
¥389,299 million
Number of stores and locations
52 domestic locations in total (the number of locations opened or closed during the period is Not disclosed)Capital expenditures
6,868 Millions of yen fiscal year ended March 2026 actual
Annual Dividend
Annual dividend per share¥80 per share (forecast)
Interim¥40 (planned)
End of period¥40 (planned)
Payout ratio
30–40% (basic policy and guideline)Acquisition of treasury shares
A policy of flexible share repurchases is stated. The repurchase amount, number of shares and period are Not disclosed. The company also reports its share cancellation record.| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥209,844 million (YoY +17.2%) |
| Operating profit | ¥12,879 million (YoY +21.2%) |
| Ordinary income | ¥13,175 million (YoY +32.4%) |
| Net income | ¥9,136 million (YoY +33.3%) |
| Gross Profit Margin | Rate 22.4% / Year on year against the same period last year +0.8 percentage points (21.6% → 22.4%) |
| Operating profit margin | Rate 6.1% / Year on year against the same period last year +0.2 percentage points (5.9% → 6.1%) |
| Results for the three months of the current quarter | A quarterly revenue mix and quarterly operating profit trend chart is provided, but the full set of profit and loss items for the three-month period alone is Not disclosed |
| Full-year earnings forecast | Orders received ¥246,000 million / Net Sales ¥240,000 million / Operating profit ¥15,000 million / Ordinary income ¥14,500 million / Profit attributable to owners of the parent ¥10,000 million |
| Self-assessment against the plan | Generally in line with the revised forecast announced when the second-quarter results were released |
| Segment results | Environmental Engineering business Orders received ¥75,410 million (YoY +45.3%) / Net Sales ¥58,475 million (YoY +11.7%) / Operating profit ¥4,543 million (YoY +92.3%) / Systems Solutions Business Orders received ¥86,880 million (YoY +36.9%) / Net Sales ¥61,154 million (YoY +6.9%) / Operating profit ¥2,625 million (YoY -23.3%) / Operations Business Orders received ¥48,555 million (YoY -13.1%) / Net Sales ¥33,455 million (YoY +5.2%) / Operating profit ¥2,425 million (YoY +9.3%) / Overseas Operations Orders received ¥63,686 million (YoY +23.7%) / Net Sales ¥56,759 million (YoY +50.4%) / Operating profit ¥3,285 million (YoY +25.3%) |
| Breakdown of Factors Affecting the Change | Net Sales Strong performance in the Overseas business ¥19,031 million / Foreign Exchange Effects ¥-694 million / Operating profit Effect of higher revenue ¥6,646 million / Gross profit margin improvement ¥1,690 million / Increase in SG&A expenses ¥-6,084 million / Non-Operating Income and Expenses Foreign-Exchange Gains and Losses ¥768 million |
| Key KPIs | Orders received ¥274,532 million, Order backlog ¥389,299 million, ROE 10.7 %, ROIC 7.2 %, Equity ratio 40.6 %, D/E ratio 0.47 times |
| Number of stores and locations | 52 domestic locations in total (the number of locations opened or closed during the period is Not disclosed) |
| Assumptions Underlying the Business Outlook | Exchange rate Fiscal year ending March 2026 ¥149.6/USD / Forecast for the fiscal year ending March 2027 ¥150.0/USD |
| Medium-term management plan targets | Initial target Target fiscal year Fiscal year ending March 2028 / Orders received ¥200 billion or more / Net Sales ¥200 billion / Operating profit ¥13 billion (6.5% operating margin) / Net income for the current fiscal year ¥8.5 billion / ROE 10% or higher / Revised targets Target fiscal year Fiscal year ending March 2028 / Orders received ¥250 billion or more / Net Sales ¥245 billion / Operating profit ¥16.5 billion (6.7% operating margin) / Net income for the current fiscal year ¥11 billion / ROE 11% or higher |
| Financial targets | ROE Target 10% or higher / FY2025 actual 10.7% / ROIC Target ROIC＞WACC / FY2025 actual 7.2%（WACC 6.6%） / Equity ratio Target 40% or more but less than 50% / FY2025 actual 40.6% / Debt-to-equity ratio Target Less than 0.8x / FY2025 actual 0.47x |
| Annual Dividend | Annual dividend per share ¥80 per share (forecast) / Interim ¥40 (planned) / End of period ¥40 (planned) |
| Payout ratio | 30–40% (basic policy and guideline) |
| Acquisition of treasury shares | A policy of flexible share repurchases is stated. The repurchase amount, number of shares and period are Not disclosed. The company also reports its share cancellation record. |
| Capital expenditures | 6,868 Millions of yen (fiscal year ended March 2026 actual) |
| Orders received and order backlog | Orders received ¥274,532 million / Order backlog ¥389,299 million |
| New initiatives | TOB for SUIDO KIKO KAISHA,LTD. and a capital and business alliance among Toray and SUIDO KIKO KAISHA,LTD., Orders received for PFAS removal facilities, Making E&P Anlagenbau and Schwing Bioset consolidated subsidiaries, Exclusive domestic license agreement for Nereda® technology, Demonstration testing with the NTT Group to automate maintenance and inspections using IoT and AI, Participation in the operations business for the western treatment district of Ube City's public sewerage system |
Items this document does not state (7)
Selling, general and administrative expensesProgress against full-year forecastUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookMarket 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.For the fiscal year ended March 2026, the Environmental Engineering, Operations and Overseas businesses, including the North American subsidiary, performed well, resulting in higher revenue across all segments. In the Environmental Engineering and Overseas businesses, the effect of higher revenue and an improved gross profit margin more than offset increases in SG&A expenses, including R&D expenses, personnel expenses and IT investments, resulting in higher operating profit. Orders received benefited from a large, unbudgeted project in the Systems Solutions business.
How to read this page
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