Financial Summary for Fiscal Year Ending December 2025 [Japanese GAAP] (Consolidated)

Overview of Results

Consolidated net sales for the fiscal year ending December 2025 reached 349.477 billion yen (19.9% YoY increase), primarily driven by the acquisition of Manitex International, Inc. and the new consolidation of the Transport Machinery segment. Conversely, operating income decreased to 18.552 billion yen (22.0% YoY decrease), affected by U.S. trade policies and acquisition-related expenses. Net income attributable to owners of parent significantly increased to 18.298 billion yen (175.5% YoY increase), supported by special gains including the sale of fixed assets. By segment, the business is divided into Japan, Europe, Americas, and Oceania. Europe continued to record operating losses, but the Americas achieved increased revenue and profit. By key product, construction cranes, vehicle-mounted cranes, aerial work platforms, and transport machinery all showed growth.

Financial Position and Dividends

Total assets increased to 458.529 billion yen (up from previous period), and net assets rose to 205.946 billion yen (up from previous period), with a shareholders' equity ratio of 44.9%. Cash flows from operating activities used 2.407 billion yen, investing activities used 649 million yen, and financing activities used 2.114 billion yen. An annual dividend of 44 yen (payout ratio 30.4%) is planned, with a forecasted annual dividend of 34 yen (payout ratio 30.7%) for fiscal 2026.

Outlook

The consolidated performance forecast for the fiscal year ending December 2026 anticipates net sales of 400 billion yen (14.5% YoY increase), operating income of 25 billion yen (34.7% YoY increase), ordinary income of 22 billion yen (45.7% YoY increase), and net income attributable to owners of parent of 14 billion yen (23.5% YoY decrease). Exchange rates are assumed at 152 yen/USD and 180 yen/EUR. Although the business environment remains uncertain, the company plans to secure profits through the integration of new acquisitions and product price revisions.

Overview of Business Combinations

In January 2025, the company acquired Manitex International, Inc., expanding its global business in vehicle-mounted cranes and aerial work platforms. In July 2025, Tadano Infrastructure Solutions Co., Ltd. (formerly IHI Transport Machinery Co., Ltd.'s transport system business) was acquired, entering the stationary crane business with new product lines. These acquisitions have expanded the product lineup and diversified the business portfolio.