Supplementary Financial Materials for Fiscal Year Ending March 2026

Overview of Fiscal Year Ending March 2026 Results

In the fiscal year ending March 2026, driven by strong performance in office-related products and increased sales of high value-added products, net sales rose to 46,725 million yen (4.7% increase YoY), operating income reached 4,099 million yen (12.8% increase), and net income attributable to owners of parent was 3,048 million yen (15.0% increase), all setting new records. By product category, movable partitions, toilet booths, and mobile partitions performed well, with order backlog also increasing. The gross profit margin improved by 0.8 points to 36.1%, absorbing increased selling, general and administrative expenses such as personnel investments. ROE rose to 7.9%, and the equity ratio remained high at 80.7%, maintaining strong financial stability.

Earnings Forecast and Shareholder Returns for Fiscal Year Ending March 2027

For the fiscal year ending March 2027, net sales are projected at 48,600 million yen (4.0% increase YoY) and operating income at 4,260 million yen (3.9% increase). The company forecasts increased profits by offsetting higher personnel investments and material costs with revenue growth. Net income is expected to be 3,050 million yen, nearly flat compared to the previous year. The dividend policy has been raised to target a dividend on equity (DOE) of 6%, doubling the dividend to 130 yen for the fiscal year ending March 2026 and planning a further increase to 135 yen for the fiscal year ending March 2027. Capital expenditures will focus on constructing Building No. 2 at the Kaga factory, with 7.1 billion yen planned for fiscal 2026 and 5.2 billion yen for fiscal 2027.