Worth reading
58In focus
Scored from 5 of 6 sectionsDirection
Deterioration
Direction inferred from the company’s description.Scale
26.7
Year-on-year decrease in operating income (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025 to 31 March 2026ConsolidatedJapanese GAAPNet Sales49,724,959¥ thousandYear on year -1.1%
Operating profit1,298,404¥ thousandYear on year -26.7%
Ordinary income1,259,000¥ thousandYear on year -26.6%
Net income attributable to owners of the parent666,569¥ thousandYear on year -28.1%
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.
Net income per share¥60.49
Financial position at period-end
Total assets52,142,707¥ thousand
of which net assets 19,000,149 ¥ thousandEquity ratio 36.4%vs. prior year-end +2.7pt
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.
Cash inflows and outflows
Operating+1,033,626
Investment-1,244,544
Financials+484,756
Net change+273,838
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ thousand).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥7,056,091 thousand
Segment revenueSale of stainless steel and other metal materials ¥47,391,595 thousand (YoY -1.5%), Manufacturing and sale of stainless steel and other metal-processed products ¥1,262,444 thousand (YoY -1.5%), Manufacturing and sale of machinery and equipment, and engineering services ¥1,070,920 thousand (YoY +18.6%)
Segment profitSale of stainless steel and other metal materials ¥1,203,852 thousand (YoY -28.4%), Manufacturing and sale of stainless steel and other metal-processed products ¥-32,254 thousand, Manufacturing and sale of machinery and equipment, and engineering services ¥118,425 thousand (YoY +94.1%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales52,000～57,000
Operating profit1,700～2,100
Ordinary income1,500～1,800
Net income2,500～3,000
Annual Dividend ForecastNot disclosed → ¥22 per share
Shareholder Return PolicyDOE (dividend-on-equity ratio) of at least 1.0%, with a consolidated payout ratio target of 35–40%
Factors Behind Changes in Business Performance
Net sales declined due to lower sales volumes and selling prices, as well as sluggish sales through retail stores. Operating profit declined due to a lower gross profit margin and higher selling, general and administrative expenses. The machinery and equipment business reported higher sales and profit due to the recognition of sales from a large project.
Disclosure regarding the going concern assumption
No applicable matters.
Changes in the scope of consolidation0 new companies and 0 excluded companies. The main text states that shares in a subsidiary were acquired without changing the scope of consolidation.
Material subsequent eventsAcquisition and cancellation of 720,000 treasury shares; disposal of 242,500 restricted shares issued to employees; and expected recognition of approximately ¥2,200 million in extraordinary gains from the sale of investment securities
Impairment lossNot applicable for the current fiscal year
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥22,122 thousand / Extraordinary loss Loss on Disposal of Fixed Assets ¥10,403 thousand, Provision for removal costs of non-current assets ¥79,443 thousand, Costs of removing non-current assets ¥41,850 thousand, Impairment loss on membership rights ¥2,500 thousand
Depreciation and amortization¥441,112 thousand
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025 to 31 March 2026 |
| Net Sales | ¥49,724,959 thousand (YoY -1.1%) |
| Operating profit | ¥1,298,404 thousand (YoY -26.7%) |
| Ordinary income | ¥1,259,000 thousand (YoY -26.6%) |
| Profit attributable to owners of the parent | ¥666,569 thousand (YoY -28.1%) |
| Net income per share | ¥60.49 |
| Equity ratio | End of the current fiscal period 36.4 / End of previous period 33.7 |
| Total assets | ¥52,142,707 thousand |
| Net assets | ¥19,000,149 thousand |
| Cash flows from operating activities | ¥1,033,626 thousand |
| Cash flows from investing activities | ¥-1,244,544 thousand |
| Cash flows from financing activities | ¥484,756 thousand |
| Cash and cash equivalents at end of period | ¥7,056,091 thousand |
| Full-year earnings forecast | Net Sales 52,000～57,000 / Operating profit 1,700～2,100 / Ordinary income 1,500～1,800 / Net income 2,500～3,000 |
| Annual Dividend Forecast | Not disclosed → ¥22 per share |
| Shareholder Return Policy | DOE (dividend-on-equity ratio) of at least 1.0%, with a consolidated payout ratio target of 35–40% |
| Segment revenue | Sale of stainless steel and other metal materials ¥47,391,595 thousand (YoY -1.5%), Manufacturing and sale of stainless steel and other metal-processed products ¥1,262,444 thousand (YoY -1.5%), Manufacturing and sale of machinery and equipment, and engineering services ¥1,070,920 thousand (YoY +18.6%) |
| Segment profit | Sale of stainless steel and other metal materials ¥1,203,852 thousand (YoY -28.4%), Manufacturing and sale of stainless steel and other metal-processed products ¥-32,254 thousand, Manufacturing and sale of machinery and equipment, and engineering services ¥118,425 thousand (YoY +94.1%) |
| Depreciation and amortization | ¥441,112 thousand |
| Impairment loss | Not applicable for the current fiscal year |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥22,122 thousand / Extraordinary loss Loss on Disposal of Fixed Assets ¥10,403 thousand, Provision for removal costs of non-current assets ¥79,443 thousand, Costs of removing non-current assets ¥41,850 thousand, Impairment loss on membership rights ¥2,500 thousand |
| Disclosure regarding the going concern assumption | No applicable matters. |
| Changes in the scope of consolidation | 0 new companies and 0 excluded companies. The main text states that shares in a subsidiary were acquired without changing the scope of consolidation. |
| Material subsequent events | Acquisition and cancellation of 720,000 treasury shares; disposal of 242,500 restricted shares issued to employees; and expected recognition of approximately ¥2,200 million in extraordinary gains from the sale of investment securities |
| Factors Behind Changes in Business Performance | Net sales declined due to lower sales volumes and selling prices, as well as sluggish sales through retail stores. Operating profit declined due to a lower gross profit margin and higher selling, general and administrative expenses. The machinery and equipment business reported higher sales and profit due to the recognition of sales from a large project. |
Items this document does not state (10)
Operating MarginRevision to Earnings ForecastPayout ratioRegional salesOrders received and order backlogChange in accounting policyAvailability of Supplementary Financial Results MaterialsAvailability of Financial Results BriefingIssued Shares at Period-EndTreasury Shares at Period-End
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.Operating profit declined due to a lower gross profit margin and higher selling, general and administrative expenses. Profit attributable to owners of the parent decreased due to extraordinary losses, including costs associated with rebuilding the Tokyo Distribution Center.
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.