Worth reading
68In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
140
¥100 million (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Medium-Term Management Plan PresentationFiscal year ending March 2026, full year13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,700 hundred million+9.0%
Operating profit¥171 hundred million+16.6%
Ordinary income¥179 hundred million+15.5%
Net income¥131 100 million +17.3%net income attributable to owners of the parent
Gross Profit Margin28.4%, up 1.5 percentage points year on year
Operating profit margin10.1%, up 0.7 percentage points year on year
Selling, general and administrative expensesThe increase in SG&A expenses was attributed to higher personnel costs resulting from base-pay increases. Amount: not disclosed
Results for the three months of the current quarterQuarterly standalone trends in revenue and operating income are presented. In the fourth quarter of the fiscal year ended March 2026, revenue was ¥46.9 billion and operating income was ¥5.0 billion
Full-year earnings forecast
Fiscal year ending March 2027
Net Sales
¥1,800 hundred million
Operating profit
¥180 hundred million
Ordinary income
¥185 hundred million
Profit attributable to owners of the parent
¥137 hundred million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Exceeded the full-year planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Equipment sales (Product Sales)+¥2.4 billion
- Maintenance and servicing (product sales)+¥1.2 billion
- Construction work (Product Sales)+¥10.6 billion
- Maintenance and servicing (construction)+¥700 million
- Intersegment sales (product sales)-¥0.5 billion
- Intersegment sales (construction)-¥0.4 billion
- Change in operating profit+¥2.4 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The assumptions include continued demand for large-scale redevelopment and capital investment in the construction market, higher costs, increased logistics costs and higher SG&A expenses resulting from increased salary levels. Numerical assumptions: not disclosedNew initiatives
- Launch of the Second Medium-Term Management Plan, “Redesign TOTECH”
- Change the dividend policy to a 6% DOE plus progressive dividends
- Strengthen investment in human capital, IT investment, business transformation and M&A
- Review the business portfolio and allocate resources to highly profitable businesses
- Expand the overseas business and ASEAN operations
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥1,850 hundred millionYear on year against the same period last year+16.2%
- Order backlog¥1,063 hundred millionYear on year against the same period last year+18.2%
- Equity ratio64 %Year on year against the same period last year+5.8 percentage points
- ROE19.5 %Year on year against the same period last yearPrior-year result was also 19.5%
- PBR2.11 timesYear on year against the same period last yearPrior-year result was 1.64x
Segment results
- Product Sales BusinessNet Sales¥93.7 billionYear on year against the same period last year+3.4%
- Construction businessNet Sales¥76.1 billionYear on year against the same period last year+16.8%
Medium-term management plan targets
Target fiscal yearFY2030
Net Sales¥220 billion (initial plan: ¥200 billion)
Ordinary income¥22 billion (initial plan: ¥15 billion)
Financial targets
Equity ratioAround 50%
PBRAt least 1x
ROEAt least 12%
Market Size / Share
The materials state that azbil sensors have the No. 1 domestic market share. Market size and the company's own market share figures were not disclosedOrders received and order backlog
Orders received¥185 billion (up 16.2% year on year)
Order backlog¥106.3 billion (up 18.2% year on year)
Number of employees
2,545 consolidated employees in Japan, including 1,302 employees with technical qualifications (approximately 51.2%). The breakdown of consolidated employees in Japan is 385 in company-wide functions, 1,159 in Construction and 1,001 in Product SalesAnnual Dividend
¥128 for the fiscal year ended March 2026 (¥35 interim, ¥93 year-end, including a commemorative dividend). Forecast of ¥128 for the fiscal year ending March 2027 (¥42 interim, ¥86 year-end)Payout ratio
40.1% for the fiscal year ended March 2026. The dividend policy will change to a 6% DOE plus progressive dividends during the Second Medium-Term Management Plan period| Item | Details |
|---|---|
| Document type | Medium-Term Management Plan Presentation |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥1,700 hundred million (YoY +9.0%) |
| Operating profit | ¥171 hundred million (YoY +16.6%) |
| Ordinary income | ¥179 hundred million (YoY +15.5%) |
| Net income | ¥131 100 million (net income attributable to owners of the parent) (YoY +17.3%) |
| Gross Profit Margin | 28.4%, up 1.5 percentage points year on year |
| Operating profit margin | 10.1%, up 0.7 percentage points year on year |
| Selling, general and administrative expenses | The increase in SG&A expenses was attributed to higher personnel costs resulting from base-pay increases. Amount: not disclosed |
| Results for the three months of the current quarter | Quarterly standalone trends in revenue and operating income are presented. In the fourth quarter of the fiscal year ended March 2026, revenue was ¥46.9 billion and operating income was ¥5.0 billion |
| Full-year earnings forecast | Fiscal year ending March 2027 Net Sales ¥1,800 hundred million / Operating profit ¥180 hundred million / Ordinary income ¥185 hundred million / Profit attributable to owners of the parent ¥137 hundred million |
| Self-assessment against the plan | Exceeded the full-year plan |
| Segment results | Segment Product Sales Business / Net Sales ¥93.7 billion / Year on year against the same period last year +3.4%, Segment Construction business / Net Sales ¥76.1 billion / Year on year against the same period last year +16.8% |
| Breakdown of Factors Affecting the Change | Factors Equipment sales (Product Sales) / Amount +¥2.4 billion, Factors Maintenance and servicing (product sales) / Amount +¥1.2 billion, Factors Construction work (Product Sales) / Amount +¥10.6 billion, Factors Maintenance and servicing (construction) / Amount +¥700 million, Factors Intersegment sales (product sales) / Amount -¥0.5 billion, Factors Intersegment sales (construction) / Amount -¥0.4 billion, Factors Change in operating profit / Amount +¥2.4 billion |
| Key KPIs | Indicator Orders received / Value ¥1,850 hundred million / Year on year against the same period last year +16.2%, Indicator Order backlog / Value ¥1,063 hundred million / Year on year against the same period last year +18.2%, Indicator Equity ratio / Value 64 % / Year on year against the same period last year +5.8 percentage points, Indicator ROE / Value 19.5 % / Year on year against the same period last year Prior-year result was also 19.5%, Indicator PBR / Value 2.11 times / Year on year against the same period last year Prior-year result was 1.64x |
| Number of employees | 2,545 consolidated employees in Japan, including 1,302 employees with technical qualifications (approximately 51.2%). The breakdown of consolidated employees in Japan is 385 in company-wide functions, 1,159 in Construction and 1,001 in Product Sales |
| Assumptions Underlying the Business Outlook | The assumptions include continued demand for large-scale redevelopment and capital investment in the construction market, higher costs, increased logistics costs and higher SG&A expenses resulting from increased salary levels. Numerical assumptions: not disclosed |
| Medium-term management plan targets | Target fiscal year FY2030 / Net Sales ¥220 billion (initial plan: ¥200 billion) / Ordinary income ¥22 billion (initial plan: ¥15 billion) |
| Financial targets | Equity ratio Around 50% / PBR At least 1x / ROE At least 12% |
| Annual Dividend | ¥128 for the fiscal year ended March 2026 (¥35 interim, ¥93 year-end, including a commemorative dividend). Forecast of ¥128 for the fiscal year ending March 2027 (¥42 interim, ¥86 year-end) |
| Payout ratio | 40.1% for the fiscal year ended March 2026. The dividend policy will change to a 6% DOE plus progressive dividends during the Second Medium-Term Management Plan period |
| Orders received and order backlog | Orders received ¥185 billion (up 16.2% year on year) / Order backlog ¥106.3 billion (up 18.2% year on year) |
| Market Size / Share | The materials state that azbil sensors have the No. 1 domestic market share. Market size and the company's own market share figures were not disclosed |
| New initiatives | Launch of the Second Medium-Term Management Plan, “Redesign TOTECH”, Change the dividend policy to a 6% DOE plus progressive dividends, Strengthen investment in human capital, IT investment, business transformation and M&A, Review the business portfolio and allocate resources to highly profitable businesses, Expand the overseas business and ASEAN operations |
Items this document does not state (7)
Progress against full-year forecastUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresKey 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.Both the Product Sales and Construction segments reported higher revenue, driven by urban redevelopment, demand for new construction, private-sector investment projects such as data centers, factories and hotels, and government projects. In addition, the gross profit margin rose as profitability at the time of order intake improved, absorbing the increase in SG&A expenses.
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