Earnings Presentation Materials

Performance Overview

For the fiscal year ended September 2026, revenue was 1,372 million yen (YoY +16.5%) and operating income was 209 million yen (YoY +50.3%), showing substantial growth. The strong finish was driven by significant revenue increases in the plant business and changes in the composition of the contract distillation business. For the fiscal year ending September 2027, the company forecasts revenue of 1,470 million yen and operating income of 210 million yen, assuming expansion of the plant business and steady contract distillation orders. The mid-term plan continues to strengthen shareholder returns, maintaining a dividend policy targeting a payout ratio of 30% or more and a minimum annual dividend of 35 yen per share.

Segment Outlook and Growth Drivers

The contract distillation business, which includes R&D support and toll processing, is expected to grow due to an increase in research-related projects. The plant business focuses on specialized equipment such as unit-type distillation systems and water recycling units, leveraging transportability and ease of design to pursue growth. For FY2027, while taking into account the potential for gross margin compression in the contract distillation business, an increased share of the plant business is expected to affect overall profitability.