FY2026 (Fiscal Year 2025) Earnings Presentation Materials

Performance Overview

In fiscal year 2025, supported by solid business conditions centered on inbound-related demand and urban redevelopment, net sales reached ¥162,679 million, an 8.3% increase year-over-year, and operating income was ¥12,818 million, a 44.1% increase year-over-year, both reaching record highs. The gross profit margin improved to 20.1%, reflecting the contribution of acquiring highly profitable large-scale projects. Selling, general and administrative expenses increased 8.0% due to higher personnel and advertising expenses, but the ratio to net sales declined by 0.1 points owing to sales growth.

Market Segments and Future Outlook

While multiple markets such as specialty stores and leisure facilities experienced growth in both revenue and profit, sales declined in department stores, mass retailers, and exposition/event markets. Order intake totaled ¥164,065 million, a 7.9% increase from the previous period, and order backlog remained at a high level of ¥70,196 million, up 2.0% year-over-year. For fiscal year 2026, net sales are projected at ¥168 billion, operating income at ¥13.4 billion, and net income at ¥9.25 billion. Dividends are expected to be ¥44 per share. The profit distribution policy targets whichever is higher between a DOE of 7% or more, or a payout ratio of 50% or more.