Worth reading
82Important
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
10
¥100 million (full-year operating income forecast revision)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary Materials to the Earnings ReportSecond quarter of the fiscal year ending March 202712 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥808 100 million+3.0%
Operating profit¥86 100 million+18.6%
Ordinary income¥91 100 million+18.2%
Net income¥60 100 million+15.4%
Gross Profit Margin
Rate30.4%
Year on year against the same period last year+2.7 percentage points
Operating profit margin
Rate10.7%
Year on year against the same period last year+1.4 percentage points
Results for the three months of the current quarterFor the second quarter of the fiscal year ending March 2027, net sales were ¥44.1 billion and operating income was approximately ¥5.0 billion. These figures are shown in the materials' quarterly trend chart.
Full-year earnings forecast
Net Sales
¥1,800 100 million
Operating profit
¥190 100 million
Ordinary income
¥195 100 million
Profit attributable to owners of the parent
¥144 100 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales44.9%
Operating profit45.6%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net SalesConstruction work +¥4.0 billion, maintenance and servicing +¥0.4 billion, equipment sales −¥1.1 billion, intercompany transactions −¥0.9 billion, maintenance and servicing −¥0.0 billion, intercompany transactions −¥0.0 billion
Operating profitNet sales +¥2.3 billion, cost −¥0.4 billion, SG&A expenses +¥1.4 billion. Operating income was +¥1.3 billion.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Continued large-scale redevelopment projects, mainly in urban areas, higher costs, increased logistics costs, and higher SG&A expenses resulting from increased salary levels. Numerical assumptions are Not disclosedNew initiatives
Upward revision of the full-year earnings forecast, a large order received by Singapore Quantum Automation for the complete ELV works for hospitals for Singapore's Ministry of Health, investment in human capital, branding and IT, and strategic investments based on the Second Medium-Term Management PlanKey KPIsA metric the company considers important as a management benchmark.
- Orders received¥1,424 100 millionYear on year against the same period last year+30.4%
- Order backlog¥1,685 100 millionYear on year against the same period last year+39.2%
- Gross margin30.4 %Year on year against the same period last year+2.7 percentage points
- Operating margin10.7 %Year on year against the same period last year+1.4 percentage points
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Higher project unit prices are stated, but the numerical breakdown of unit price and volume is Not disclosedSegment results
Product Sales Segment
Net Sales¥43.0 billion (down 3.7% year on year)
Construction Segment
Net Sales¥37.7 billion (up 11.8% year on year)
Medium-term management plan targets
Targets for fiscal 2030 under the Second Medium-Term Management Plan: net sales ¥220.0 billion and ordinary income ¥22.0 billion. Targets by business: air conditioning ¥89.0 billion, instrumentation ¥49.0 billion, energy ¥22.0 billion, domestic group companies ¥50.0 billion, and overseas group companies ¥10.0 billionFinancial targets
ROE target of 12–15% going forward, with a cost of shareholders' equity of 9–10%. By the end of fiscal 2030, policy-held shares are to be reduced to no more than 15% of consolidated net assets, and cash and deposits are to be maintained at approximately 1.5 months of monthly sales as a guidelineOrders received and order backlog
Orders received ¥142.4 billion (up 30.4% year on year), order backlog ¥168.5 billion (up 39.2% year on year)Number of employees
2,855 consolidated, 1,171 non-consolidated (as of 31 March 2026). Changes during the period and the hiring plan are Not disclosedAnnual Dividend
The forecast for the fiscal year ending March 2027 is ¥128 per share. Interim dividend: ¥42; year-end dividend: ¥86Acquisition of treasury shares
The policy is to implement purchases flexibly during the period of the Second Medium-Term Management Plan. The purchase amount, number of shares and period are Not disclosed| Item | Details |
|---|---|
| Document type | Supplementary Materials to the Earnings Report |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥808 100 million (YoY +3.0%) |
| Operating profit | ¥86 100 million (YoY +18.6%) |
| Ordinary income | ¥91 100 million (YoY +18.2%) |
| Net income | ¥60 100 million (YoY +15.4%) |
| Gross Profit Margin | Rate 30.4% / Year on year against the same period last year +2.7 percentage points |
| Operating profit margin | Rate 10.7% / Year on year against the same period last year +1.4 percentage points |
| Results for the three months of the current quarter | For the second quarter of the fiscal year ending March 2027, net sales were ¥44.1 billion and operating income was approximately ¥5.0 billion. These figures are shown in the materials' quarterly trend chart. |
| Full-year earnings forecast | Net Sales ¥1,800 100 million / Operating profit ¥190 100 million / Ordinary income ¥195 100 million / Profit attributable to owners of the parent ¥144 100 million |
| Progress against full-year forecast | Net Sales 44.9% / Operating profit 45.6% |
| Segment results | Product Sales Segment Net Sales ¥43.0 billion (down 3.7% year on year) / Profit Not disclosed / Construction Segment Net Sales ¥37.7 billion (up 11.8% year on year) / Profit Not disclosed |
| Breakdown of Factors Affecting the Change | Net Sales Construction work +¥4.0 billion, maintenance and servicing +¥0.4 billion, equipment sales −¥1.1 billion, intercompany transactions −¥0.9 billion, maintenance and servicing −¥0.0 billion, intercompany transactions −¥0.0 billion / Operating profit Net sales +¥2.3 billion, cost −¥0.4 billion, SG&A expenses +¥1.4 billion. Operating income was +¥1.3 billion. |
| Key KPIs | Indicator name Orders received / Value ¥1,424 100 million / Year on year against the same period last year +30.4%, Indicator name Order backlog / Value ¥1,685 100 million / Year on year against the same period last year +39.2%, Indicator name Gross margin / Value 30.4 % / Year on year against the same period last year +2.7 percentage points, Indicator name Operating margin / Value 10.7 % / Year on year against the same period last year +1.4 percentage points |
| Unit price and quantity metrics | Higher project unit prices are stated, but the numerical breakdown of unit price and volume is Not disclosed |
| Number of employees | 2,855 consolidated, 1,171 non-consolidated (as of 31 March 2026). Changes during the period and the hiring plan are Not disclosed |
| Assumptions Underlying the Business Outlook | Continued large-scale redevelopment projects, mainly in urban areas, higher costs, increased logistics costs, and higher SG&A expenses resulting from increased salary levels. Numerical assumptions are Not disclosed |
| Medium-term management plan targets | Targets for fiscal 2030 under the Second Medium-Term Management Plan: net sales ¥220.0 billion and ordinary income ¥22.0 billion. Targets by business: air conditioning ¥89.0 billion, instrumentation ¥49.0 billion, energy ¥22.0 billion, domestic group companies ¥50.0 billion, and overseas group companies ¥10.0 billion |
| Financial targets | ROE target of 12–15% going forward, with a cost of shareholders' equity of 9–10%. By the end of fiscal 2030, policy-held shares are to be reduced to no more than 15% of consolidated net assets, and cash and deposits are to be maintained at approximately 1.5 months of monthly sales as a guideline |
| Annual Dividend | The forecast for the fiscal year ending March 2027 is ¥128 per share. Interim dividend: ¥42; year-end dividend: ¥86 |
| Acquisition of treasury shares | The policy is to implement purchases flexibly during the period of the Second Medium-Term Management Plan. The purchase amount, number of shares and period are Not disclosed |
| Orders received and order backlog | Orders received ¥142.4 billion (up 30.4% year on year), order backlog ¥168.5 billion (up 39.2% year on year) |
| New initiatives | Upward revision of the full-year earnings forecast, a large order received by Singapore Quantum Automation for the complete ELV works for hospitals for Singapore's Ministry of Health, investment in human capital, branding and IT, and strategic investments based on the Second Medium-Term Management Plan |
Items this document does not state (8)
Selling, general and administrative expensesSelf-assessment against the planNumber of stores and locationsRisk amount incorporated into the outlookPayout ratioCapital expendituresMarket 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.In addition to capturing demand for new construction associated with redevelopment in major metropolitan areas, private-sector investment projects such as data centers, factories and hotels, and projects for government agencies, progress in instrumentation work, higher project unit prices and contributions from group companies contributed to higher sales and higher profit. The increase in SG&A expenses resulting from investment in human resources and other factors was absorbed by the increase in gross profit.
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