Financial Summary for the Fiscal Year Ending March 2026 [Japanese GAAP] (Consolidated)

Performance Overview

Consolidated net sales for the fiscal year ending March 2026 increased 1.2% YoY to 45,673 million yen, setting a new record high. Operating income decreased 2.5% to 6,723 million yen, ordinary income decreased 2.4% to 6,899 million yen, and net income attributable to owners of parent decreased 2.8% to 4,696 million yen. The revenue growth was driven by price revisions in electrical materials, piping materials, and wiring devices, as well as new product launches, but rising raw material costs pressured profits. By segment, sales in the Electrical Materials and Piping Materials business totaled 34,733 million yen (down 0.1%), with operating income of 5,993 million yen (down 6.4%). The Wiring Devices business posted sales of 8,037 million yen (up 9.7%) and operating income of 872 million yen (up 25.0%).

Outlook and Dividend Policy

The challenging business environment is expected to persist due to a decline in housing starts, soaring raw material prices, and uncertain international conditions. The earnings forecast for Q1 of fiscal year ending March 2027 projects net sales of 11,820 million yen (up 1.2% YoY), operating income of 1,290 million yen (down 12.8%), ordinary income of 1,316 million yen (down 13.0%), and net income attributable to owners of parent of 877 million yen (down 15.0%). Full-year results are yet to be determined due to the impact of Middle East developments and will be announced once reasonably predictable. Dividends are planned at 145 yen per share for fiscal year ending March 2026 (payout ratio about 50%), with dividends for fiscal year ending March 2027 to be based on either a 50% payout ratio or 3% DOE, whichever is higher.