Japan Stock IR Daily – April 28, 2026 (87 reports)

• Tokuyama Corporation announced its consolidated financial results for the fiscal year ended March 31, 2026.
• For the fiscal year 2026, consolidated net sales were ¥349,476 million (up 1.9% year-on-year), operating income was ¥37,017 million (up 23.5% year-on-year), and ordinary income was ¥38,203 million (up 29.1% year-on-year).
• Net profit attributable to owners of parent for the same period was ¥22,205 million (down 5.1% year-on-year).
• The annual dividend for the fiscal year ended March 31, 2026, was increased to ¥120.00, compared to ¥100.00 in the previous fiscal year.
• The consolidated earnings forecast and annual dividend forecast for the fiscal year ending March 31, 2027, have been announced as undetermined due to the difficulty of making reasonable calculations at this time.

The financial results show a robust increase in operating and ordinary income despite a modest rise in net sales for FY2026, while net profit attributable to owners of parent declined. This divergence may suggest significant impacts from non-operating items, extraordinary gains/losses, or tax expenses during the period. The undetermined outlook for FY2027 earnings and dividends could indicate the company’s cautious stance amid current market uncertainties, making future announcements worth monitoring.

• Rakuten ETF-Nikkei Leveraged Index (Code 1458) announced its financial results for the fiscal year ended March 2026 (March 16, 2025, to March 15, 2026).
• Total net assets for the period amounted to JPY 45,447 million, a decrease from JPY 61,140 million at the end of the previous fiscal year.
• The net asset value per 100 units reached JPY 5,688,033, marking a significant increase from JPY 2,859,185 at the end of the prior period.
• Net income for the period was JPY 15,652 million (JPY 15,652,755,063), a substantial increase from JPY 1,360 million (JPY 1,360,107,302) in the previous period.
• No distribution was paid for the current period, consistent with the previous period.

• While total net assets decreased, the substantial rise in net asset value per 100 units is a key highlight. This could suggest that a significant increase in net income, primarily driven by gains from derivatives transactions, outweighed the decrease in outstanding units, contributing to the uplift in per-unit value.
• The fund’s performance appears to be strongly influenced by the movements of its benchmark, the Nikkei Average Leveraged Index, and the outcomes of its related derivative transactions.

• Lecip Holdings has revised its consolidated earnings forecast for the full fiscal year ending March 2026 (April 1, 2025, to March 31, 2026). While net sales are expected to decrease by ¥200 million to ¥23,800 million (△0.8%) from the previous forecast, operating income is projected to increase by ¥100 million to ¥1,200 million (+9.1%), ordinary income by ¥400 million to ¥1,500 million (+36.4%), and net income attributable to owners of parent by ¥300 million to ¥1,100 million (+37.5%), all representing upward revisions.
• The primary reasons for the earnings revision include stronger-than-expected demand in the domestic bus and railway market within the main transport equipment business, improved profitability due to continuous cost reductions, and foreign exchange gains (non-operating income) resulting from a weaker yen than anticipated.
• The annual dividend forecast for the fiscal year ending March 2026 has also been revised, with the year-end dividend increased by ¥4 from the previously announced ¥20.00 per share to ¥24.00 per share, making the total annual dividend ¥24.00.
• This dividend forecast revision is based on the expectation that net income attributable to owners of parent will exceed the initial public forecast.
• The company’s dividend policy has also been modified, with the target level for the Dividend on Equity (DOE) ratio, a key shareholder return indicator, raised from the previous “2% or more” to “3% or more.” This change will apply from the year-end dividend for the fiscal year ending March 2026.

Lecip Holdings’ revised consolidated earnings forecast highlights a significant increase in profit, despite a slight decrease in net sales, driven by robust domestic business performance, cost reductions, and foreign exchange gains. The 37.5% increase in net income attributable to owners of parent compared to the previous forecast may suggest an improvement in profitability. Furthermore, the upward revision of the dividend forecast and the increase in the target DOE ratio could be interpreted as a strengthening of the company’s proactive stance on shareholder returns.

• For the fiscal year ended March 2026 (March 21, 2025 to March 20, 2026), net sales increased by 4.2% to JPY 8,084 million, operating profit increased by 31.0% to JPY 321 million, and ordinary profit increased by 28.2% to JPY 332 million.
• Net income for the same period decreased by 33.0% to JPY 204 million.
• For the fiscal year ending March 2027, the company forecasts net sales of JPY 8,300 million (up 2.7% year-on-year), while expecting operating profit of JPY 280 million (down 12.9%), ordinary profit of JPY 300 million (down 9.9%), and net income of JPY 190 million (down 7.0%).
• The annual dividend is planned to be maintained at JPY 100.00 (JPY 50.00 interim, JPY 50.00 year-end) for both FY2026 (actual) and FY2027 (forecast).
• As of the end of March 2026, total assets stood at JPY 9,854 million, net assets at JPY 6,832 million, and the equity ratio at 69.3%. Cash and cash equivalents at period-end amounted to JPY 2,560 million.

For the fiscal year ended March 2026, improved revenue and profits, excluding net income, appear to have been driven by pricing negotiations, new business development, and operational improvements. The decline in net income, despite increases in operating and ordinary profits, may warrant closer examination by investors. While the company projects increased revenue but decreased profits for FY2027, its commitment to maintaining the annual dividend could suggest a stable approach to shareholder returns.

• DENSO Corporation announced its consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026).
• For the fiscal year, revenue was ¥7,539,975 million (up 5.3% year-on-year), operating profit was ¥552,538 million (up 6.5%), and profit attributable to owners of the parent was ¥443,755 million (up 5.9%).
• The annual dividend for the fiscal year ended March 31, 2026, including a year-end dividend of ¥35.00, totaled ¥67.00 per share (compared to ¥64.00 for the prior fiscal year).
• For the fiscal year ending March 31, 2027 (April 1, 2026 – March 31, 2027), DENSO forecasts revenue of ¥7,670,000 million (up 1.7% year-on-year), but expects operating profit to decrease to ¥500,000 million (down 9.5%) and profit attributable to owners of the parent to ¥382,000 million (down 13.9%).
• By segment, revenue in Japan increased to ¥4,404.1 billion (up 4.5%), North America to ¥2,025.1 billion (up 8.7%), and Europe to ¥767.9 billion (up 6.8%).

The fiscal year ended March 31, 2026, saw an increase in both revenue and profit across key financial metrics, alongside a higher annual dividend. However, the forecast for the fiscal year ending March 31, 2027, projects a decrease in operating profit and profit attributable to owners of the parent, despite an anticipated increase in revenue. This outlook suggests that investors may closely monitor the company’s strategies to address future business conditions and cost fluctuations, particularly given the reported decline in operating profit for the Japan segment.

• G-SBI Leasing Service Co., Ltd. has resolved to pay a year-end dividend of JPY 180.00 per share for the fiscal year ended March 31, 2026.
• This dividend amount represents an increase of JPY 15.00 per share from the company’s most recent dividend forecast of JPY 165.00, published on January 29, 2026.
• The total dividend amount is JPY 1,433 million, with an effective date of June 26, 2026.
• Consequently, the total annual dividend for the fiscal year ending March 2026 will be JPY 230.00 per share, combining the JPY 50.00 second-quarter dividend (compared to JPY 170.00 for the previous year).
• The stated per-share dividend amount is prior to the 2-for-1 stock split implemented on April 1, 2026.

G-SBI Leasing’s decision to increase its year-end dividend beyond the most recent forecast may suggest a strong commitment to shareholder returns. This move aligns with the company’s stated policy of aiming for a consolidated dividend payout ratio of 30% or more, potentially reflecting confidence in its earnings growth and financial stability. Investors might view this as a positive sign regarding the company’s future performance and dividend policy consistency.

• For the fiscal year ended March 31, 2026, consolidated net income attributable to owners of the parent increased by 83.3% year-on-year to ¥21,360 million.
• Consolidated operating revenue was ¥95,595 million (up 16.7% year-on-year), consolidated operating income was ¥18,730 million (up 45.9% year-on-year), and consolidated ordinary income was ¥22,867 million (up 46.8% year-on-year).
• The annual dividend for the fiscal year ended March 31, 2026, was set at ¥50.00, an increase from ¥30.00 in the previous fiscal year. This includes an ordinary dividend of ¥40.00 and a special dividend of ¥10.00.
• As of March 31, 2026, consolidated total assets stood at ¥1,401,090 million, consolidated net assets at ¥230,972 million, and the equity ratio at 16.5%.
• The consolidated earnings forecast for the fiscal year ending March 31, 2027, has not been disclosed due to the difficulty in forecasting performance, as the financial instruments business is susceptible to market fluctuations.

Okasan’s financial results for the fiscal year ended March 31, 2026, highlight significant growth across key revenue and profit metrics. The substantial 83.3% increase in net income attributable to owners of the parent may suggest a notable improvement in the company’s profitability. Furthermore, the increase in the annual dividend to ¥50 from the previous year’s ¥30 could be viewed as a positive indicator of shareholder returns. However, the non-disclosure of the FY2027 earnings forecast, attributed to market volatility inherent in the financial instruments business, means future market conditions will be a key factor for investors to monitor.

• For the fiscal year ended March 31, 2026, consolidated net sales were ¥4,369,512 million, representing a 7.0% increase year-on-year.
• Consolidated operating profit for the same period was ¥137,023 million (a 38.2% decrease year-on-year), and profit attributable to owners of the parent was ¥223,785 million (a 14.7% decrease year-on-year).
• The annual dividend per share was ¥0.00, down from ¥280.00 in the previous fiscal year, attributed to the company’s shares being scheduled for delisting on June 1, 2026.
• Consolidated financial forecasts and dividend forecasts for the fiscal year ending March 31, 2027, were not provided due to the planned delisting.
• During the fiscal year, Aichi Corporation was excluded from the scope of consolidation.

While net sales increased, factors such as increased engine certification-related expenses, personnel costs, U.S. tariffs, and research and development expenses are indicated as contributing to the decrease in operating profit. However, compared to the initial forecasts, the company exceeded its projections for net sales and various profit metrics, driven by a weaker yen than anticipated and robust production and sales in the industrial vehicles and automotive segments. The upcoming delisting means a change in information disclosure practices for investors, which is a noteworthy development for market transparency.

• Artra Group Inc. signed a Memorandum of Understanding (MOU) for a business alliance with Remed Co., Ltd. (REMED), a KOSDAQ-listed Korean medical device manufacturer, on April 21, 2026, with formal approval on April 28, 2026.
• The alliance aims to establish a foundation for mutual cooperation between REMED and Artra Group across all business sectors, including medical, rehabilitation, and beauty device fields.
• REMED specializes in the development, manufacturing, and sales of non-invasive magnetic field therapy devices, such as Transcranial Magnetic Stimulation (TMS), Neuromuscular Magnetic Stimulation (NMS), and Extracorporeal Shock Wave Therapy (ESWT).
• Artra Group plans to integrate REMED’s advanced technologies with its A-COMS platform, which supports 3,053 acupuncture and osteopathic clinics nationwide (as of December 2025), to offer new value in brain rehabilitation, chronic pain, and aesthetic fields.
• The MOU is valid for one year from the signing date (April 21, 2026) and is not legally binding; specific cooperation details will be defined in separate written agreements.

This announcement by Artra Group appears to be a strategic move to enhance its value-added services in the non-insured (private pay) sector, driven by Japan’s aging population and healthcare cost containment trends. The combination of REMED’s advanced non-invasive magnetic therapy device technology with Artra Group’s extensive customer network could lead to new service offerings and expanded business domains. Investors may wish to monitor the progress of future detailed discussions and the signing of definitive agreements, as the current understanding is an MOU without legal enforceability.

• For the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026), Marusan Securities reported operating revenue of ¥21,725 million (up 15.3% year-on-year), operating income of ¥5,375 million (up 51.0%), ordinary income of ¥5,923 million (up 44.0%), and net income of ¥5,010 million (up 10.8%).
• Earnings per share increased to ¥75.66 from ¥68.40 in the previous fiscal year.
• The annual dividend per share was raised by ¥10 to ¥70.00 (interim ¥32, year-end ¥38). The payout ratio stood at 92.5%, and the dividend on equity ratio was 9.4%.
• Regarding the financial position, total assets at the end of the period were ¥88,476 million, and net assets were ¥51,444 million. The equity ratio was 58.0%, and the capital adequacy ratio was 576.9%.
• Stock brokerage fees increased by 36.3% to ¥7,298 million, and the net increase in Japanese stocks (recommended individual stocks) under the medium-term management plan reached ¥52.3 billion over 24 months, achieving 130.8% of its target.

The substantial increase in profits for the period appears to be primarily driven by a rise in stock brokerage fees and investment trust commissions. Strategic initiatives, such as focusing on AI-related stocks and underwriting new IPOs, likely contributed significantly to this revenue growth. The high dividend payout ratio suggests a strong commitment to shareholder returns, while the healthy capital adequacy ratio indicates a stable financial foundation.

• For the fiscal year ended March 31, 2026, Japan Exchange Group, Inc. (JPX) reported consolidated operating revenue of ¥198,735 million, an increase of 22.5% year-on-year. Profit attributable to owners of parent rose by 29.5% to ¥79,139 million.
• Basic earnings per share (EPS) for FY2026 was ¥76.81.
• The annual dividend for FY2026 was set at ¥61.00 per share (¥25.00 interim, ¥36.00 year-end), with a total dividend payment of ¥62,938 million.
• For the fiscal year ending March 31, 2027, JPX forecasts consolidated operating revenue of ¥205.0 billion (up 3.2% year-on-year) but anticipates profit attributable to owners of parent to be ¥77.5 billion (down 2.1% year-on-year). Basic EPS is projected to be ¥75.39.
• A 2-for-1 stock split was implemented effective October 1, 2024. Per-share figures, including basic EPS, are calculated assuming the split occurred at the beginning of the previous consolidated fiscal year.

• The significant increase in operating revenue and profits for FY2026 appears to be driven by factors such as higher transaction-related revenues.
• The forecast for FY2027 suggests continued growth in operating revenue, yet a slight decline in profit attributable to owners of parent is projected, which may warrant monitoring by investors regarding the future profit structure.
• The company’s commitment to shareholder returns is indicated by the proposed annual dividend of ¥61.00 for FY2027, maintaining the same level as the FY2026 actual dividend.

• Arealink Co., Ltd. announced its non-consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1 to March 31, 2026).
• For the quarter, net sales were ¥7,144 million (down 5.0% year-on-year), operating income was ¥1,571 million (up 0.5%), ordinary income was ¥1,415 million (down 5.3%), and net income attributable to owners of parent was ¥1,006 million (down 9.6%).
• By business segment, the Storage Business reported net sales of ¥6,079 million (down 4.4%) but operating income of ¥1,683 million (up 0.1%), and the Land Rights Adjustment Business recorded net sales of ¥681 million (down 12.3%) with operating income of ¥134 million (up 36.4%).
• As of the end of the first quarter, total assets stood at ¥65,441 million, net assets at ¥29,574 million, and the equity ratio was 45.2%.
• The full-year and second-quarter consolidated earnings forecasts for the fiscal year ending December 2026, as well as the annual dividend forecast (¥26.50), remain unchanged from the most recently announced figures.

• While net sales decreased in the first quarter, the core Storage Business and Land Rights Adjustment Business achieved reduced revenue but increased profits, leading to an overall increase in operating income compared to the prior year.
• This performance may suggest that improved precision in store openings and efficient advertising in the Storage Business, along with a focus on acquiring quality properties in the Land Rights Adjustment Business, contributed to enhanced profitability.
• The unchanged full-year earnings forecast could indicate that the company views its progress against initial plans as generally on track.

• For the fiscal year ended March 31, 2026 (consolidated), net sales were ¥252,262 million, a decrease of 1.9% year-on-year.
• Operating profit for the same period increased by 11.4% to ¥18,038 million, and ordinary profit rose by 9.2% to ¥18,901 million.
• Net income attributable to owners of parent amounted to ¥10,325 million, a decrease of 13.8% from the previous fiscal year.
• The equity ratio stood at 67.8% at the end of the period, an increase from 63.2% at the end of the previous fiscal year.
• The annual dividend for FY2026 was ¥72.00 (interim ¥36.00, year-end ¥36.00), an increase from ¥68.00 in the previous fiscal year.
• For the fiscal year ending March 31, 2027 (consolidated), the company forecasts net sales of ¥273,000 million (up 8.2% year-on-year), operating profit of ¥18,900 million (up 4.8% year-on-year), and net income attributable to owners of parent of ¥13,200 million (up 27.8% year-on-year).

Despite a slight decrease in net sales for FY2026, Yurtec reported an increase in operating and ordinary profits, which may suggest improvements in operational efficiency. While net income attributable to owners of parent declined, the rise in the equity ratio could indicate a strengthened financial position. The increased annual dividend and the forecast for growth in both sales and profits for FY2027 are aspects that investors might find noteworthy.

• Mabuchi Motor Co., Ltd. reported consolidated net sales of JPY 50,373 million for the first quarter of the fiscal year ending December 2026 (January 1 to March 31, 2026), marking a 7.3% increase year-on-year.
• During the same period, consolidated operating profit decreased by 15.4% year-on-year to JPY 5,395 million. However, ordinary profit surged by 66.8% to JPY 7,918 million, and net income attributable to owners of parent significantly increased by 74.4% to JPY 5,801 million.
• Basic earnings per share for the quarter stood at JPY 23.62, calculated after accounting for a 2-for-1 stock split of common shares effective January 1, 2026.
• In this consolidated cumulative quarter, 13 new companies, including Mabuchi Motor NPM Corporation (formerly Nippon Pulse Motor Co., Ltd.), were added to the scope of consolidation.
• The consolidated full-year earnings forecast for the fiscal year ending December 2026 and the annual dividend forecast of JPY 56.00 remain unchanged from the most recently announced figures.

The observation that net sales increased while operating profit declined, yet ordinary profit and net income attributable to owners of parent rose significantly, presents a notable point. This could indicate that factors such as improved foreign exchange gains or the contributions from newly consolidated subsidiaries played a substantial role in the overall profitability. The unchanged full-year earnings forecast suggests that management’s existing outlook may already factor in these recent performance dynamics.

• Ichiyoshi Securities announced on April 28, 2026, a revision to its year-end ordinary dividend forecast for the fiscal year ending March 2026.
• The revised year-end ordinary dividend forecast is ¥49 per share, an increase of ¥1 from the previously announced ¥48 (announced on March 18, 2026).
• The reason for the dividend increase is an upward revision in the earnings forecast, which serves as the basis for the consolidated payout ratio (approximately 50%), in line with the company’s dividend policy.
• The total annual dividend for the fiscal year ending March 2026 is projected to be ¥89 per share, comprising an interim dividend of ¥30 (¥20 ordinary, ¥10 commemorative) and a year-end dividend of ¥59 (¥49 ordinary, ¥10 commemorative).
• The final decision on the year-end dividend is scheduled to be made at the Board of Directors meeting concerning the year-end financial results, expected in mid-May 2026.

This announcement indicates that Ichiyoshi Securities is adjusting its year-end dividend forecast upward in response to an improved earnings outlook, consistent with its dividend policy of targeting a consolidated payout ratio of approximately 50%. This action may suggest the company’s commitment to shareholder returns aligned with its performance. Investors might monitor the company’s continued adherence to this policy and future earnings trends as key points.

• For the fiscal year ended March 2026, Kawasaki Setsubi reported non-consolidated net sales of ¥37,652 million (up 29.1% year-on-year), operating profit of ¥4,904 million (up 80.8%), ordinary profit of ¥4,986 million (up 82.4%), and net profit of ¥3,684 million (up 88.1%).
• Operating profit, ordinary profit, and net profit all reached record highs.
• The annual dividend per share increased from ¥50 in the previous fiscal year to ¥95 (¥50 ordinary dividend, ¥45 special dividend).
• For the fiscal year ending March 2027, the company forecasts net sales of ¥39,000 million (up 3.6% year-on-year), operating profit of ¥5,000 million (up 1.9%), and ordinary profit of ¥5,060 million (up 1.5%).
• The equity ratio at the end of the period stood at 62.1%, an increase from 54.9% at the end of the previous fiscal year.

Kawasaki Setsubi achieved significant profit growth across all key metrics in FY2026, with operating, ordinary, and net profits reaching record highs. This performance can be attributed to increased orders and completed construction in all project types and segments. The substantial increase in the annual dividend payment may suggest a strong commitment to shareholder returns. The company’s forecast for continued revenue and profit growth in the next fiscal year indicates an expectation of ongoing business expansion.

• Asahi Group Holdings announced that its consolidated subsidiary, Asahi Holdings (Australia) Pty Ltd, disclosed its financial results for the fiscal year ended December 2025 on April 28, 2026.
• The parent company, Asahi Group Holdings, has postponed the announcement of its FY2025 results due to the impact of a cyberattack that occurred on September 29, 2025.
• Asahi Holdings (Australia) Pty Ltd reported sales of AUD 5,335 million (JPY 514,816 million), operating profit of AUD 739 million (JPY 71,283 million), and net profit of AUD 508 million (JPY 48,948 million for the fiscal year from January 1, 2025, to December 31, 2025).
• Compared to the reference FY2024, sales in AUD increased from AUD 5,210 million, while operating profit decreased from AUD 778 million and net profit decreased from AUD 552 million.
• This disclosure was made in accordance with local regulations, specifically the Australian Accounting Law (simplified disclosure standards) and the Corporations Act 2001, and is available for viewing at the Australian Securities and Investments Commission.

• The disclosure of specific financial results for the Australian consolidated subsidiary provides some insight for investors, especially as the parent company’s overall FY2025 results remain delayed due to the cyberattack.
• While the Australian subsidiary’s sales increased, the decline in operating and net profits could indicate various factors such as currency fluctuations, changes in the business environment, or increased costs, warranting further analysis once comprehensive results are available.
• The announcement that the parent company’s full financial disclosure date will be promptly released suggests that investors will continue to monitor for the complete picture of Asahi Group Holdings’ performance.

• CTS Corporation reported consolidated financial results for the fiscal year ended March 31, 2026, with net sales of ¥12,747 million (up 7.8% year-on-year), operating income of ¥3,369 million (up 9.5%), ordinary income of ¥3,734 million (up 18.1%), and profit attributable to owners of parent of ¥2,686 million (up 22.7%).
• Profitability ratios improved, with an operating profit margin of 26.4% (vs. 26.0% prior year), ordinary income to total assets of 19.8% (vs. 18.7%), and profit attributable to owners of parent to equity of 18.8% (vs. 17.5%).
• The annual dividend for the fiscal year ended March 31, 2026, was ¥29 (interim ¥14, year-end ¥15), an increase of ¥4 from the previous fiscal year, with a payout ratio of 44.6%.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of ¥13,500 million (up 5.9% year-on-year), operating income of ¥3,530 million (up 4.8%), ordinary income of ¥3,890 million (up 4.2%), and profit attributable to owners of parent of ¥2,720 million (up 1.2%).
• The forecast for the fiscal year ending March 31, 2027, includes an annual dividend of ¥30 (interim ¥15, year-end ¥15).

The strong performance for the fiscal year ended March 31, 2026, with increased sales and all profit metrics, suggests robust operational execution. The more than 20% growth in profit attributable to owners of parent indicates a notable enhancement in earnings power. Furthermore, the improvement in key profitability ratios, such as the operating profit margin, is noteworthy.

The increase in the annual dividend for the current fiscal year and the forecast for a further increase in the next fiscal year could reflect the company’s commitment to shareholder returns, supported by its profit growth. This performance may also be linked to the company’s strategic shift outlined in its mid-term management plan, transitioning from a “hardware rental IT infrastructure company” to a “construction ICT specialist providing integrated data and information services.”

• AISIN Corporation reported consolidated revenue of 5,117,764 million JPY for the fiscal year ended March 31, 2026, marking a 4.5% increase year-on-year.
• Operating profit for the same period stood at 228,796 million JPY, up 12.7% from the previous fiscal year, with profit attributable to owners of the parent significantly rising by 59.6% to 171,697 million JPY.
• The annual dividend per share for FY2026 was 70 JPY (30 JPY interim, 40 JPY year-end), and the forecast for FY2027 annual dividend per share is 75 JPY (35 JPY interim, 40 JPY year-end).
• For the fiscal year ending March 31, 2027, the company forecasts consolidated revenue of 5,250,000 million JPY (a 2.6% increase) and operating profit of 235,000 million JPY (a 2.7% increase).
• AISIN executed a 3-for-1 stock split of its common shares effective October 1, 2024, and resolved on April 28, 2026, to acquire treasury shares, conduct a tender offer for treasury shares, and cancel treasury shares.

The strong growth in both revenue and profit for FY2026, especially the substantial increase in profit attributable to owners of the parent, may draw investor attention. While the company forecasts continued revenue and operating profit growth for FY2027, the projected decrease in profit attributable to owners of the parent could indicate the impact of share buybacks and cancellations, among other factors. The dividend payout ratio of 30.1% suggests a commitment to shareholder returns, which investors might consider as part of the company’s financial strategy.

• For the first half of the fiscal year ending September 2026, PLANT reported net sales of ¥47,555 million (down 1.5% year-on-year), operating profit of ¥891 million (down 9.0%), and interim net profit of ¥657 million (down 12.5%).
• The interim dividend forecast for FY2026 is ¥40 per share, with an annual dividend forecast of ¥95 (¥55 at year-end), representing an increase from the previous year’s actual annual dividend of ¥75.
• The full-year forecast was revised to net sales of ¥95,500 million (down 2.3% from the previous period), operating profit of ¥1,500 million (down 25.2%), and net profit of ¥1,100 million (down 18.3%).
• As of the end of the interim period, total assets were ¥35,804 million, net assets ¥15,690 million, and the equity ratio was 43.8%.
• The full-year performance forecast has been revised from the most recently published forecast.

The interim financial results show a decrease in net sales and various profit indicators compared to the previous year. The downward revision of the full-year sales and profit forecasts may suggest a recalibration of expectations regarding the business environment or operational performance. Conversely, the annual dividend forecast remains higher than the prior year’s actual dividend, which could indicate a continued commitment to shareholder returns.

• Fukuibank Co., Ltd. announced on April 28, 2026, a revision to its consolidated earnings forecast and dividend forecast for the fiscal year ending March 2026 (April 1, 2025 – March 31, 2026).
• The consolidated ordinary profit forecast was revised upwards by 27.6% from the previously announced JPY 10,500 million to JPY 13,400 million.
• The consolidated net profit attributable to owners of parent forecast was revised upwards by 43.3% from the previously announced JPY 6,000 million to JPY 8,600 million. This adjusts the earnings per share from JPY 253.49 to JPY 363.57.
• Key reasons for the earnings revision include solid performance in lending interest due to improved lending rates, increased interest and dividends from investment securities through portfolio restructuring, and recording of gains on sales of shares, including strategic shareholdings.
• The annual dividend per share forecast for the fiscal year ending March 2026 was revised from JPY 75.00 to JPY 108.00 (the year-end dividend was revised from JPY 46.00 to JPY 79.00). This revision is based on the upward revision of net profit and the bank’s shareholder return policy (payout ratio of approximately 30%).

• Fukuibank’s upward revision of its consolidated earnings forecast for the fiscal year ending March 2026 appears to be driven by improved lending interest income, increased returns from securities, and gains from share sales.
• The simultaneous announcement of an increased annual dividend forecast is likely a direct result of the improved earnings outlook, aligned with the company’s shareholder return policy.
• These revisions could be seen as reflecting positive developments in the bank’s revenue streams and a commitment to shareholder returns.

• G-VRAIN Solutions Inc. (Code: 135A) announced the release of its full-year FY2026 earnings presentation video and a summary of the Q&A session on April 28, 2026.
• The company stated that it anticipates recurring customer sales to constitute approximately 50% of total sales in FY2027, even while accelerating new customer acquisition.
• Implementation of AI external inspection systems is significantly expanding beyond the food industry, with an increasing trend observed across diverse sectors such as automotive (particularly in the Nagoya region), pharmaceutical, steel, and paper.
• For international expansion, the strategy is to first advance into Asia (e.g., Thailand, Vietnam), building on numerous existing installation successes at overseas factories of Japanese clients. International sales have not been conservatively included in the current fiscal year’s performance forecast.
• Regarding shareholder returns, the company indicated that funds are currently prioritized for growth investments to capture the large manufacturing market, and retained earnings will be prioritized for the time being.

The projected recurring customer sales ratio of approximately 50% for FY2027 could suggest increasing stability in the company’s business model. The expanding adoption of AI visual inspection systems beyond the food industry into diverse sectors like automotive and pharmaceutical indicates a broader market opportunity for the company’s solutions. Furthermore, the strategic focus on international expansion, particularly in the Asian market, is positioned as a future growth engine, potentially offering new avenues for business development.

• For the first quarter of fiscal year 2026 (January 1, 2026 – March 31, 2026), consolidated net sales increased by 8.2% year-on-year to JPY 630,342 million.
• Profit attributable to owners of the parent for the quarter rose by 15.7% year-on-year, reaching JPY 98,348 million.
• Sales growth in the pharmaceutical segment was notably driven by core products such as the antipsychotic “Rexulti,” the anticancer agent “Lonsurf,” and the anti-APRIL antibody “Voizact” (launched in 2025).
• The nutraceuticals segment also experienced increased sales across all three social challenge categories designated as growth drivers.
• The consolidated full-year earnings forecast for fiscal year 2026 and the annual dividend forecast of JPY 140.00 remain unchanged from the figures most recently announced.

The significant growth in Q1 net sales and profit attributable to owners of the parent may suggest robust performance in core business segments, particularly in pharmaceuticals with key products and consistent growth in nutraceuticals. While the full-year forecast remains unchanged, the sustained investment in research and development could indicate a strategic focus on future pipeline expansion. Investors may continue to monitor how these factors contribute to future quarterly results against the maintained full-year guidance.

• For the consolidated fiscal year ended March 31, 2026, Chugai Ro reported net sales of ¥37,332 million (up 3.0% year-on-year), operating profit of ¥2,879 million (up 5.3%), and ordinary profit of ¥3,110 million (up 3.6%).
• Profit attributable to owners of parent increased by 55.7% year-on-year to ¥4,668 million.
• Diluted earnings per share were ¥643.70, and the equity ratio stood at 60.8%.
• The annual dividend for the fiscal year ended March 31, 2026, is ¥166.00 per share, an increase from ¥150.00 in the previous fiscal year.
• The consolidated forecast for the fiscal year ending March 31, 2027, projects net sales of ¥40,300 million (up 7.9%) and operating profit of ¥3,620 million (up 25.7%), while profit attributable to owners of parent is expected to decrease by 46.1% to ¥2,516 million. An annual dividend of ¥180.00 per share is planned for the next fiscal year.

The significant increase in net profit for the fiscal year ended March 31, 2026, appears to be primarily driven by gains from the sale of strategic shareholdings, a factor that may not recur in future periods. The company’s improved equity ratio to 60.8% could indicate a strengthening of its financial position. While the forecast for the upcoming fiscal year shows continued growth in sales and operating profit, the projected decline in net profit attributable to owners of parent suggests a normalization of earnings after the one-off gains. The planned increase in the dividend for FY2027/3 may be viewed as a continued commitment to shareholder returns.

• Toyota Boshoku Corporation announced consolidated revenue of ¥2,037,063 million for the fiscal year ended March 31, 2026, an increase of 4.2% year-over-year.
• Consolidated operating profit for the period was ¥53,948 million, up 27.2% from the previous fiscal year, while profit attributable to owners of the parent reached ¥23,271 million, an increase of 39.2%.
• Basic earnings per share for the fiscal year ended March 31, 2026, was ¥130.30.
• The annual dividend for FY2026 was ¥86.00 per share, consisting of an interim dividend of ¥43.00 and a year-end dividend of ¥43.00.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated revenue of ¥2,120,000 million (up 4.1% YoY) and operating profit of ¥80,000 million (up 48.3% YoY).

The fiscal year 2026 results indicate a recovery and growth in revenue and all profit categories from the previous period, with notable increases in operating profit and profit attributable to owners of the parent. The company’s forecast for FY2027 projects continued growth in both revenue and profit, with a significant increase anticipated in operating profit, which may be a key area for investor observation.

• Toagosei Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 to March 31, 2026).
• Consolidated net sales amounted to ¥38,634 million (down 3.0% year-on-year), and operating profit was ¥3,206 million (down 4.7% year-on-year).
• Net profit attributable to owners of parent increased significantly to ¥2,774 million (up 38.7% year-on-year), partly due to the sale of idle real estate.
• The full-year consolidated earnings forecast (net sales ¥167,000 million, net profit attributable to owners of parent ¥11,500 million) and the annual dividend forecast (¥70) remain unchanged from the most recently announced figures.
• By segment, the High-Performance Materials business achieved a 14.8% increase in net sales and a 200.7% increase in operating profit, driven by demand for AI-related semiconductors and memory.

The significant increase in net profit attributable to owners of parent, despite a decline in net sales and operating profit, appears to be influenced by non-recurring factors such as the sale of idle real estate. However, the strong performance in the High-Performance Materials segment, supported by demand from AI-related semiconductors and memory, could indicate a potential growth driver. The reaffirmation of the full-year earnings forecast may suggest the company maintains confidence in its overall business plan despite the mixed Q1 results.

1. Fujikura Kasei Co., Ltd. revised its consolidated financial forecast for the full fiscal year ending March 31, 2026. Net sales are revised from JPY 55,000 million to JPY 55,600 million, operating profit from JPY 2,000 million to JPY 2,300 million, ordinary profit from JPY 3,300 million to JPY 4,200 million, and profit attributable to owners of parent from JPY 3,000 million to JPY 4,200 million.

2. The upward revision in net sales is primarily attributed to strong sales of paints for renovation in the coatings segment. The increase in profits is due to the effect of higher sales and improved profit margins from the sale of value-added products. Additionally, ordinary profit benefited from higher-than-expected gains from the sale of cross-shareholdings.

3. The year-end dividend forecast for the fiscal year ending March 2026 has been revised upwards from JPY 9.00 per share to JPY 11.00 per share. This revision will result in an expected annual dividend of JPY 20.00 per share, including the interim dividend of JPY 9.00.

4. The dividend forecast revision is based on the updated profit forecast and the company’s 11th Medium-Term Management Plan, which aims for a total shareholder return ratio of 70% or more.

5. This matter regarding the year-end dividend will be submitted for approval at the 115th Ordinary General Meeting of Shareholders, scheduled to be held in June 2026.

The upward revision of the earnings forecast suggests that Fujikura Kasei’s core coatings business is performing robustly, with higher-margin products contributing to improved profitability. The unexpected gain from cross-shareholdings also played a role in boosting ordinary profit, potentially reflecting strategic financial management. The announced dividend increase, linked to the improved profit outlook and the company’s total shareholder return target, could be viewed by investors as a positive sign regarding shareholder value commitment.

• For the third quarter of fiscal year 2026 (July 1, 2025 – March 31, 2026), consolidated net sales reached ¥21,935 million, representing a 9.0% increase year-on-year.
• Operating profit for the same period increased by 27.5% to ¥2,162 million, ordinary profit rose by 27.8% to ¥2,186 million, and net profit attributable to parent company shareholders grew by 28.6% to ¥1,420 million.
• Infotech Solution Co., Ltd. was made a consolidated subsidiary on December 1, 2025, with the aim of expanding business in the public sector.
• Strong order performance in the public and energy sectors contributed to the increase in sales.
• The consolidated earnings forecast and annual dividend forecast for the full fiscal year 2026 remain unchanged from the most recently announced figures.

CIJ Co., Ltd. reported significant double-digit growth in sales and all profit categories for the third quarter of fiscal year 2026. This performance may suggest that the company’s strategies to secure strong orders in key sectors, such as public and energy, along with improved cost management, are yielding positive results. The consolidation of Infotech Solution Co., Ltd. also indicates an active move towards strategic business expansion, which could contribute to future growth.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

• Sumitomo Heavy Industries, Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026, to March 31, 2026).
• For the period, consolidated net sales were ¥255,566 million (up 5.8% year-on-year), operating profit was ¥13,377 million (up 19.6% year-on-year), and net profit attributable to owners of parent was ¥7,913 million (up 21.8% year-on-year).
• By segment, the Mechatronics business recorded net sales of ¥72.4 billion (up 12% year-on-year) and operating profit of ¥6.8 billion (up 43% year-on-year). Additionally, the Energy & Lifeline segment’s orders received increased to ¥80.5 billion (up 94% year-on-year).
• The consolidated full-year forecast for FY2026 remains unchanged from the most recently published figures, with net sales projected at ¥1,090,000 million (up 2.2% year-on-year), operating profit at ¥60,000 million (up 16.5% year-on-year), and net profit attributable to owners of parent at ¥34,000 million (up 9.9% year-on-year).
• The annual dividend forecast is also unchanged at ¥145 per share (interim ¥70, year-end ¥75).

Sumitomo Heavy Industries’ first-quarter results indicate a positive trend with increases in net sales and all profit stages compared to the previous year. The robust performance in the Mechatronics segment and substantial order intake in the Energy & Lifeline segment appear to be key drivers of the overall business performance. The unchanged full-year outlook and dividend forecast might suggest that the company is progressing largely as planned towards its annual targets.

• Chori has decided to set the year-end dividend for the fiscal year ending March 2026 (record date: March 31, 2026) at ¥75.00 per share. This represents an increase of ¥3.00 from the most recent dividend forecast of ¥72.00.
• As a result, the total annual dividend for the fiscal year ending March 2026 will be ¥147.00 per share, including the interim dividend of ¥72.00, marking a ¥5.00 increase compared to the previous fiscal year’s ¥142.00.
• Based on the annual dividend of ¥147.00 for the fiscal year ending March 2026, the consolidated dividend payout ratio is 30.2%, and the dividend on equity (DOE) is 4.1%.
• Effective from the dividends related to the fiscal year ending March 2027 (including interim dividends), the company will revise its dividend policy. Under the new policy, the consolidated dividend payout ratio will be raised from the previous “30% or more (annual)” to “40% or more (annual).”
• Additionally, the DOE criterion will be changed from the previous “DOE of 3.5% or more based on shareholders’ equity” to “DOE of 3.5% or more based on net assets.” This revision was made as part of the “Chori Innovation Plan 2028” medium-term management plan, with the aim of further enhancing shareholder returns.

Chori’s recent IR announcement highlights both an increased year-end dividend for the fiscal year ending March 2026 and a new dividend policy to be implemented from the fiscal year ending March 2027. The upward revision of the consolidated dividend payout ratio may suggest the company’s commitment to enhancing shareholder returns relative to net income attributable to parent company shareholders in the future. The alignment of this policy change with the medium-term management plan could indicate the company’s strategic focus on balancing sustainable corporate value enhancement with robust shareholder distribution.

• Sumitomo Corporation announced on April 28, 2026, the recording of a gain on the sale of shares in an affiliated company in its non-consolidated financial results for the fiscal year ending March 2027.
• The company decided to transfer its entire stake in consolidated subsidiary SCSK Corporation to SC Investments Management Corporation, a 100% consolidated subsidiary, with July 1, 2026, as the effective date of transfer.
• This transfer is expected to result in the recording of an “extraordinary gain on sale of investment securities” of approximately JPY 850 billion as non-operating revenue in Sumitomo Corporation’s non-consolidated financial results for the fiscal year ending March 2027.
• The purpose of this share transfer is to streamline stockholding management within the company’s operating group.
• As this transaction is between wholly-owned subsidiaries, the impact on Sumitomo Corporation’s consolidated financial results is stated to be minor.

While the impact on Sumitomo Corporation’s consolidated financial results is stated to be minor due to this being an intra-group share transfer, the non-consolidated results are expected to record a substantial extraordinary gain of approximately JPY 850 billion. This could significantly affect Sumitomo Corporation’s standalone financial statements. The move also appears to reflect an ongoing effort to optimize the group’s internal shareholding structure for improved management efficiency.

• The Hokuyo Bank, Ltd. announced on April 28, 2026, an upward revision to its consolidated and non-consolidated earnings forecasts for the full fiscal year ending March 2026.
• For the consolidated forecast, ordinary revenue was revised from the previous forecast of ¥212,800 million to ¥235,900 million (an increase of 10.8%), and net profit attributable to parent company from ¥24,300 million to ¥25,600 million (an increase of 5.3%).
• The non-consolidated forecast also saw revisions, with ordinary revenue moving from ¥184,200 million to ¥206,800 million (an increase of 12.2%), and net profit from ¥24,200 million to ¥25,100 million (an increase of 3.7%).
• The reason cited for the earnings revision is that ordinary revenue is expected to exceed the previous forecast due to agile securities trading based on market trends by the bank on a non-consolidated basis.
• The dividend forecast for the fiscal year ending March 2026 was also revised, increasing the year-end dividend per share from the previously forecasted ¥6.50 to ¥8.50. This results in an annual dividend forecast of ¥28.00, up from ¥26.00.

The simultaneous announcement of an upward revision to the full-year earnings forecast and an increase in the annual dividend suggests a positive performance trend and a commitment to shareholder returns. The agile trading of securities is highlighted as a key contributor to the improved earnings, indicating the bank’s responsiveness to market conditions.

• For the fiscal year ended March 31, 2026, consolidated operating revenue increased by 1.9% year-on-year to ¥20,973 million.
• Consolidated operating profit was ¥26 million (a 98.6% decrease YoY), consolidated ordinary profit was ¥666 million (a 74.1% decrease YoY), and profit attributable to owners of parent was ¥2,752 million (a 13.2% decrease YoY).
• Earnings per share for the period stood at ¥88.44.
• The annual dividend per share increased by ¥21 from the previous year to ¥117.00 (interim ¥48.00, year-end ¥69.00), resulting in a consolidated payout ratio of 132.3%.
• As of March 31, 2026, consolidated total assets were ¥124,324 million, and consolidated net assets were ¥50,486 million.

While consolidated operating and ordinary profits saw significant declines, the decrease in profit attributable to owners of parent was comparatively smaller, which could suggest the impact of extraordinary items or tax effects. Simultaneously, the increase in the annual dividend and a payout ratio exceeding 100% may indicate a strong commitment to shareholder returns. Furthermore, the positive shift in cash flow from operating activities, from a negative in the previous period to a positive, could suggest an improvement in financial stability.

• SKY Perfect JSAT Corporation resolved its year-end dividend for the fiscal year ending March 2026 and the dividend forecast for the fiscal year ending March 2027 at its Board of Directors meeting held on April 28, 2026.
• The year-end dividend for FY March 2026 was set at JPY 23.00 per share, which is consistent with the latest dividend forecast and an increase from the JPY 16.00 per share paid in FY March 2025.
• The total dividend amount for this period is JPY 6,519 million, with an effective date of June 4, 2026.
• The dividend forecast for FY March 2027 is JPY 48.00 per share annually, an increase of JPY 6.00 from the JPY 42.00 per share of FY March 2026, based on the company’s dividend policy (payout ratio of 50% or more, with a minimum annual dividend of JPY 38 per share).

This announcement highlights a confirmed year-end dividend increase for FY March 2026 compared to the previous period, along with a projected dividend increase for FY March 2027. The company’s explicit dividend policy, which includes a payout ratio of 50% or more and a minimum annual dividend of JPY 38 per share, suggests a consistent commitment to shareholder returns. Investors might view such a sustained increase, guided by a clear policy, as an indication of management’s confidence in the company’s future financial performance and stability.

• Aichi Steel announced its consolidated financial results for the fiscal year ended March 2026, reporting revenue of ¥304,341 million, a 1.7% increase from the previous fiscal year.
• Consolidated operating profit reached ¥17,371 million, up 44.6% year-on-year, while profit attributable to owners of the parent increased by 43.8% to ¥11,248 million.
• An annual dividend of ¥145.00 per share was declared for the fiscal year ended March 2026.
• For the fiscal year ending March 2027, the company forecasts consolidated revenue of ¥310,000 million (up 1.9% year-on-year) and profit attributable to owners of the parent of ¥11,300 million (up 0.5% year-on-year).
• Aichi Steel conducted a 4-for-1 stock split for common shares on July 1, 2025, and per-share information and dividends from the fiscal year ended March 2026 onward are stated considering this split.

The significant increase in operating profit for FY2026/3, despite a more modest revenue growth, is notably attributed to an increase in sales volume, which offset a decrease in selling prices, as indicated in the company’s report. While the forecast for FY2027/3 suggests continued revenue and profit growth, the projected slowdown in the rate of profit increase may indicate a more cautious outlook on future market conditions or cost management. Investors might consider these factors when evaluating the company’s future performance.

• TOSE’s interim performance for the fiscal year ending August 2026 was strong, attributed to high operating rates in key game development projects, maintained stable profitability, and additional orders resulting from client satisfaction.
• The Project Management Support Office, established in September 2024, objectively reviews and provides guidance on quality, progress, and costs from outside project teams, and is recognized as contributing to the strengthening and stabilization of the business foundation.
• An overseas client’s home console game software development project was temporarily suspended due to the client’s management decision to curb investment. This project, which started in FY2025, had received generally good evaluations in interim inspections, but the client communicated a policy change in February 2026.
• To address the sudden availability of development resources from the suspended project, TOSE is focusing on early order acceptance and swift launch of new projects. Multiple negotiations are underway, with some projects already starting ahead of schedule or having development provisionally decided with budget negotiations in progress, indicating a certain level of success. The company currently believes a downward revision to the full-year earnings forecast (announced October 9, 2025) is not necessary.
• Regarding AI utilization, it is already being used for mini-game prototyping in the planning phase and for operational efficiency improvements like asset management and automated test play. TOSE is strengthening AI-related investments and improving organizational proficiency; while concrete results are emerging, the quantitative assessment of these effects has not yet been achieved.

TOSE’s strong interim performance for FY2026, driven by stable game development and additional orders, is noteworthy. However, the temporary suspension of an overseas project introduces a new variable for future operations. The company’s proactive approach to securing new projects to optimize resource utilization will be crucial for meeting its full-year earnings forecast. Furthermore, the ongoing investment in AI integration could enhance long-term development efficiency and competitiveness, suggesting a strategic focus on future operational improvements.

• For the consolidated fiscal year ended March 31, 2026, Komatsu reported net sales of 4,132,751 million yen (up 0.7% year-over-year). Operating profit decreased by 13.7% to 567,323 million yen, and net profit attributable to owners of parent fell by 14.4% to 376,391 million yen. Basic earnings per share was 413.90 yen.
• The annual dividend for FY2026 was 190.00 yen, with a consolidated payout ratio of 45.9%.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of 4,118,000 million yen (down 0.4%), operating profit of 508,000 million yen (down 10.5%), and net profit attributable to owners of parent of 318,000 million yen (down 15.5%), with basic EPS of 352.90 yen.
• A resolution for share repurchase and cancellation was approved at the Board of Directors meeting on April 28, 2026, but its impact is not included in the FY2027 forecast for basic earnings per share.

• Komatsu’s FY2026 results show a slight increase in net sales, but a double-digit decline in both operating and net profits, which may suggest the impact of market conditions or cost pressures.
• The company’s forecast for FY2027 projects further decreases in revenue and profit, indicating an anticipated challenging operating environment.
• However, the decision to maintain the annual dividend at 190 yen and proceed with share repurchase and cancellation could be seen as a continued commitment to shareholder returns.

• The Gunma Bank, Ltd. has revised its consolidated earnings forecast for the fiscal year ending March 2026 upward. Operating profit is raised by 8.7% from the previous forecast of ¥78.0 billion to ¥84.8 billion, and profit attributable to owners of parent is increased by 6.9% from ¥55.0 billion to ¥58.8 billion.
• The non-consolidated earnings forecast has also been revised upward, with operating profit increasing by 9.3% from ¥72.0 billion to ¥78.7 billion, and net income by 7.3% from ¥51.0 billion to ¥54.7 billion.
• The primary reasons for the earnings revision are the favorable progression of core business net profit, mainly driven by an increase in loan interest income and interest/dividend income from securities at the bank alone. Both consolidated and non-consolidated figures are revised upward to record highs.
• The year-end dividend forecast for the fiscal year ending March 2026 has been revised, increasing by ¥2.00 per share from the previous forecast of ¥30.00 to ¥32.00. Consequently, the annual dividend per share, combined with an interim dividend of ¥30.00, will be ¥62.00, representing an increase of ¥17.00 compared to the previous fiscal year (ending March 2025) of ¥45.00.
• The reason for the dividend revision is based on the bank’s progressive dividend policy, aiming for a dividend payout ratio of approximately 40% of profit attributable to owners of parent, in light of the upward revision to said profit.

Gunma Bank’s upward revision to its earnings forecast suggests a robust performance in its core business, including loan interest income and securities-related income. The projection of new record-high profits for both consolidated and non-consolidated results indicates positive operational momentum. Furthermore, the dividend increase, aligned with the company’s progressive dividend policy and improved profit outlook, may be seen as a notable commitment to shareholder returns.

• Chudenko Co., Ltd. has decided to increase its year-end dividend for the fiscal year ended March 2026 to ¥70.00 per share, an increase from the previously forecast ¥65.00 (announced on April 28, 2025).
• This decision results in an annual dividend of ¥135.00 per share for the fiscal year ended March 2026, marking a ¥5.00 increase from the prior forecast of ¥130.00.
• The total dividend amount for FY2026 is projected to be ¥3,705 million.
• For the fiscal year ending March 2027, the company forecasts an annual dividend of ¥140.00 per share (¥70.00 for interim and ¥70.00 for year-end).
• The company’s dividend policy emphasizes sustainable and stable dividends, aiming for a DOE (Dividend on Equity ratio) of approximately 3.0%.

• Chudenko’s announcement of an increased year-end dividend for FY2026 and a further increase in the dividend forecast for FY2027 suggests a strong commitment to continuous shareholder returns.
• The company’s dividend policy, which targets a DOE (Dividend on Equity ratio) of approximately 3.0%, may indicate an emphasis on stable dividends that are less susceptible to short-term earnings fluctuations.
• The simultaneous disclosure of the dividend forecast for the next fiscal year provides investors with forward-looking clarity regarding the company’s capital allocation strategy.

• On April 28, 2026, P-Fukuya Kensetsu’s Board of Directors resolved to acquire all shares of M’s Associates, making it a wholly-owned subsidiary.
• The acquisition aims to foster collaboration with P-Fukuya Kensetsu’s construction business, anticipating significant synergies to drive mid-to-long-term growth and enhance corporate value.
• M’s Associates specializes in new construction, expansion, renovation of residential and commercial properties, and architectural and interior design/planning services.
• For its most recent fiscal year ended March 2025, M’s Associates reported net sales of 1,030 million yen and net income of 14 million yen.
• The acquisition price was not disclosed at the seller’s request but was determined based on fair net asset value after third-party valuation. The share transfer execution date is undetermined, and funding for the acquisition is planned through borrowings from financial institutions.

This acquisition appears to be a strategic move by P-Fukuya Kensetsu to reinforce its core construction business, aligning with its corporate philosophy of “creating excitement in this town.” The integration of M’s Associates’ expertise in residential and commercial renovation, design, and planning services could expand P-Fukuya Kensetsu’s service offerings and potentially enhance its value proposition to customers. Further disclosures regarding the share transfer execution date, financing details, and the specific impact on consolidated earnings could be worth monitoring.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

• For the fiscal year ended March 31, 2026, JTEKT reported consolidated revenue of JPY 1,924.95 billion (up 2.2% year-on-year) and business profit of JPY 75.679 billion (up 16.5% year-on-year).
• Consolidated operating profit for the same period was JPY 24.847 billion (down 35.4% year-on-year), and profit attributable to owners of the parent was JPY 11.974 billion (down 12.7% year-on-year).
• The annual dividend for the fiscal year ended March 31, 2026, was JPY 60.00 per share (interim JPY 30.00, year-end JPY 30.00), an increase from JPY 50.00 in the previous fiscal year.
• For the fiscal year ending March 31, 2027, JTEKT forecasts consolidated revenue of JPY 1,880.0 billion (down 2.3% year-on-year), business profit of JPY 90.0 billion (up 18.9% year-on-year), operating profit of JPY 75.0 billion (up 201.8% year-on-year), and profit attributable to owners of the parent of JPY 50.0 billion (up 317.6% year-on-year).

• For the fiscal year ended March 31, 2026, Nozaki Printing Co., Ltd. reported consolidated net sales of ¥14,016 million (down 3.8% year-on-year) and operating profit of ¥516 million (down 25.2% year-on-year).
• Profit attributable to owners of parent for the same period amounted to ¥359 million (down 31.2% year-on-year).
• As of March 31, 2026, the consolidated financial position showed net assets of ¥4,865 million (up ¥238 million from the previous fiscal year-end), with the equity ratio improving to 43.5% (from 41.3% at the previous fiscal year-end).
• The annual dividend for the fiscal year ended March 31, 2026, remained unchanged at ¥7.50 per share (interim dividend ¥2.50, year-end dividend ¥5.00).
• The consolidated earnings forecast for the fiscal year ending March 31, 2027, is currently undetermined due to numerous uncertain factors impacting performance, such as soaring raw material prices and procurement uncertainty stemming from the Middle East situation.

Nozaki Printing’s FY2026 results indicate a year-on-year decline in both revenue and various profit metrics, which may suggest the impact of factors such as the reversal of special demand for logistics, heightened price competition, persistently high raw material costs, and rising personnel expenses.

Conversely, the improvement in the equity ratio could point to a strengthening of the company’s financial foundation.

The decision to leave the FY2027 earnings forecast undetermined highlights the significant uncertainty in the business environment, particularly concerning geopolitical risks affecting raw material prices and supply chain stability, making future disclosures a key focus for investors.

• Keiyo Gas Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1 to March 31, 2026).
• Revenue was ¥37,742 million (up 0.1% year-on-year), operating profit was ¥3,679 million (up 46.1%), ordinary profit was ¥3,770 million (up 44.1%), and profit attributable to owners of parent was ¥2,750 million (up 50.5%).
• Total gas sales volume for the first quarter decreased by 0.7% year-on-year to 220 million cubic meters. While residential use increased by 0.1% due to a rise in customer accounts, commercial and industrial use decreased by 1.7%.
• Cost of sales decreased by 3.9% year-on-year to ¥24,757 million, primarily due to a reduction in gas raw material costs driven by lower raw material prices.
• For the full fiscal year ending December 2026, the consolidated earnings forecast for revenue was revised upward by ¥3,200 million to ¥120,000 million. However, operating profit, ordinary profit, and profit attributable to owners of parent were all revised downwards by ¥600 million, ¥600 million, and ¥400 million, respectively, compared to the previous forecast.
• The annual dividend forecast for the full fiscal year remains unchanged from the most recently announced forecast, with ¥13.00 for the interim dividend and ¥13.00 for the year-end dividend, totaling ¥26.00.

* The significant profit growth in the first quarter, despite only a slight increase in revenue, appears to be primarily driven by a decrease in the cost of sales, likely due to lower raw material prices.

* However, the downward revision of the full-year profit forecast, despite an upward revision in revenue, suggests that factors such as the future trend of gas raw material prices or changes in the sales environment may impact the full fiscal year’s performance.

* Investors may find it valuable to examine the detailed explanations provided by the company to understand the discrepancy between the strong Q1 results and the adjusted full-year outlook, especially considering the seasonal nature of the gas business.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

• Mitsubishi UFJ Securities Holdings Co., Ltd., the issuer of AI Select ETN, announced its consolidated financial results for the fiscal year ended March 31, 2026.
• Consolidated operating revenue for FY2026/3 was ¥860,667 million, a decrease of 26.7% compared to the previous fiscal year.
• Profit attributable to owners of parent increased by 27.5% year-on-year, reaching ¥64,325 million.
• As of March 31, 2026, consolidated total assets stood at ¥36,871,647 million, and consolidated net assets were ¥757,824 million.
• The total amount of ETNs issued by the company was ¥44,707 million as of April 24, 2026, representing 5.9% of net assets. During the fiscal year (April 1, 2025 – March 31, 2026), additional units were issued for four ETN series, including the High Dividend Growth Japan Stock (Net Return) ETN.

The issuer’s financial results show a decrease in operating revenue but an increase in profit attributable to owners of parent, which may suggest shifts in revenue streams or effective cost management. The fact that the total ETN issuance accounts for 5.9% of net assets, along with additional units issued for several ETN series during the period, could indicate consistent market interest in ETN products and the issuer’s active product offering strategy.

• Members Co., Ltd. announced on April 28, 2026, the additional disclosure of Japanese GAAP financial statements and XBRL data for its Q3 FY2025 non-consolidated financial results.
• As of December 31, 2024 (the end of the third quarter), total assets were JPY 10,236,041 thousand, a decrease from JPY 10,613,342 thousand at the end of the previous fiscal year (March 31, 2024).
• Total liabilities for the same period amounted to JPY 4,433,982 thousand, and total net assets were JPY 5,802,059 thousand.
• For the cumulative third quarter period (April 1, 2024, to December 31, 2024), net sales were JPY 16,022,256 thousand, operating income was a loss of JPY 111,660 thousand, and quarterly net income was a loss of JPY 90,970 thousand.
• Cash and cash equivalents decreased by JPY 597,109 thousand during the cumulative period, with a balance of JPY 3,179,737 thousand at the end of the quarter.

• This disclosure supplements the previously released IFRS financial results with detailed Japanese GAAP financial statements, including the balance sheet, income statement, and cash flow statement.
• Investors may find these additional statements useful for a comprehensive understanding of the company’s asset-liability structure, profitability, and cash flow dynamics under Japanese accounting standards, potentially offering insights compared to IFRS reporting.
• Key areas for evaluation could include the decrease in cash and deposits alongside an increase in investment securities, as well as the decline in cash flows from operating, investing, and financing activities.

• SMS Co., Ltd. reported consolidated results for the fiscal year ended March 2026, achieving increased revenue and profit with net sales of ¥64.7 billion (+6% YoY), operating profit of ¥6.7 billion (+7% YoY), and EBITDA of ¥11.4 billion (+11% YoY).
• However, the company recorded an extraordinary loss of ¥22.9 billion due to impairment losses in its overseas business, resulting in a net loss of ¥14.3 billion for the period. This impairment loss is non-cash.
• The dividend forecast for the fiscal year ended March 2026 remains unchanged at ¥29.5 per share (a ¥1.0 increase from FY2025/3), and the dividend forecast for FY2027/3 is set at ¥30.5 per share (a ¥1.0 increase from FY2026/3).
• For the fiscal year ending March 2027, the company projects consolidated net sales of ¥71.8 billion (+11% YoY) and EBITDA of ¥10.4 billion (△9% YoY), positioning it as a “year for solidifying the foundation for mid-to-long-term growth.”
• As part of its roadmap for maximizing corporate value, SMS has set mid-to-long-term targets for FY2031/3: net sales of over ¥122.0 billion, EBITDA of over ¥28.0 billion, and ROE of over 30% as soon as possible.

The FY2026/3 results show top-line growth but were significantly impacted by a substantial non-cash impairment loss in the overseas segment, leading to a net loss. Despite this, the unchanged dividend forecast may suggest a continued commitment to shareholder returns.

The FY2027/3 plan outlines a temporary dip in EBITDA as the company focuses on foundational investments for future growth. The shift to prioritizing EBITDA as a key profit indicator, along with the stated aim to evolve the business model through AI and data utilization and strengthen governance, could be critical areas for investors to monitor. Further details on the new mid-term management plan, expected by the announcement of FY2027/3 full-year results, will likely provide more clarity on the company’s strategic direction.

• Yamazaki Baking Co., Ltd. has announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026, to March 31, 2026).
• Consolidated performance showed net sales of JPY 333,672 million (up 4.7% year-on-year), operating profit of JPY 18,328 million (up 9.0%), ordinary profit of JPY 18,789 million (up 13.5%), and net profit attributable to owners of parent of JPY 11,931 million (up 8.7%), achieving increased revenue and profit.
• This growth is attributed to the strong performance of Yamazaki Baking Co. Ltd. on a non-consolidated basis, particularly through the application of new quality improvement technologies primarily for bread products, alongside favorable results from consolidated subsidiaries.
• Within the Food Business segment, sales for the bread division increased by 3.7% year-on-year to JPY 30,224 million, the sweet bread division by 4.0% to JPY 126,201 million, and the Japanese confectionery division by 7.1% to JPY 22,098 million.
• Both the consolidated full-year performance forecast for December 2026 and the annual dividend forecast remain unrevised from the most recently published figures.

Yamazaki Baking’s Q1 FY2026 results indicate a solid start to the fiscal year, with growth across all key financial metrics compared to the prior year. The emphasis on the successful implementation of new quality improvement technologies for core products suggests a positive impact on sales growth. As the full-year forecast remains unchanged, investors may focus on the company’s progress in subsequent quarters and how it navigates evolving consumer behavior and raw material price fluctuations.

• Studio Alice Co., Ltd. announced on April 28, 2026, the finalized financial results for its parent company, Torrance Japan Co., Ltd., for the fiscal year ended February 2026.
• Torrance Japan Co., Ltd. holds 23.05% of Studio Alice’s shares as of February 28, 2026.
• Torrance Japan’s primary business activities include real estate leasing and management, with no transaction relationships existing between Studio Alice and Torrance Japan.
• For the fiscal year ended February 2026, Torrance Japan reported sales of ¥892,670 thousand, an operating loss of ¥111,669 thousand, ordinary income of ¥57,495 thousand, and net income of ¥57,425 thousand.
• As of February 28, 2026, Torrance Japan’s balance sheet showed total assets of ¥4,859,735 thousand and total net assets of ¥1,984,765 thousand.

This announcement does not directly impact Studio Alice’s consolidated financial results but fulfills disclosure requirements for information concerning its controlling shareholder, enabling investors to understand its financial standing. While Torrance Japan’s main business is real estate leasing and management, it significantly generated non-operating income through interest and dividends (¥215,114 thousand), which contributed to its ordinary and net income. As a key shareholder of Studio Alice, Torrance Japan’s financial performance may indirectly draw investor attention.

• Core (2359) reported consolidated financial results for the fiscal year ended March 31, 2026, with net sales of ¥26,532 million (+7.9% year-on-year), operating profit of ¥3,819 million (+20.3% YoY), ordinary profit of ¥3,921 million (+20.0% YoY), and net profit attributable to parent company shareholders of ¥2,879 million (+28.4% YoY).
• The annual dividend per share for FY2026/3 was ¥60.00 (interim ¥15.00, year-end ¥45.00), an increase of ¥5.00 from the previous fiscal year.
• As of March 31, 2026, consolidated total assets amounted to ¥28,168 million, net assets to ¥20,709 million, and the equity ratio was 73.5%.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of ¥29,000 million (+9.3% YoY), operating profit of ¥4,200 million (+10.0% YoY), ordinary profit of ¥4,300 million (+9.6% YoY), and net profit attributable to parent company shareholders of ¥3,000 million (+4.2% YoY).
• The scope of consolidation saw a significant change with the addition of two new companies, including SOFT RYUTSU CENTER Corporation, during FY2026/3.

The robust growth across all profit metrics for FY2026/3, coupled with an increased annual dividend and a positive outlook for FY2027/3, suggests a strong operational performance. The sustained dividend growth indicates the company’s commitment to shareholder returns. The forward guidance for continued revenue and profit expansion may suggest management’s confidence in its strategic initiatives and market positioning.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

• Hibino announced a 1-for-2 stock split of its common shares, with September 30, 2026, as the record date and October 1, 2026, as the effective date.
• Following the split, the total number of outstanding shares will increase from 10,265,480 to 20,530,960, and the authorized shares will change from 34 million to 68 million.
• The shareholder benefit program will be revised, effective for shareholders recorded as of March 31, 2027.
• Under the revised program, a new benefit tier for shareholders holding 100 shares to less than 200 shares (post-split) will be introduced, offering 1,000 points (for less than 3 years) or 2,000 points (for 3 years or more of holding).
• There will be no change to the stated capital amount. The interim dividend for the fiscal year ending March 2027 will be based on pre-split shares, while the year-end dividend will be based on post-split shares.

This stock split is intended to lower the investment unit price, potentially making Hibino shares more accessible to a broader range of investors. The revision of the shareholder benefit program, particularly the introduction of a new tier for smaller holdings, appears designed to attract new investors and encourage long-term share ownership. These actions could lead to enhanced stock liquidity, with market reactions warranting ongoing monitoring.

• Hmcomm Co., Ltd. announced on April 28, 2026, its resolution by the Board of Directors to acquire shares of Collabo Techno Co., Ltd., making it a subsidiary.
• This acquisition is the third M&A case in Hmcomm’s growth strategy, which positions M&A as its “second growth engine,” aiming to acquire new “engineering (AI product implementation)” capabilities and establish a “Forward Deployed Engineer (FDE) model.”
• Collabo Techno’s business includes Web system development and system engineering services. There were no prior capital, human, or transactional relationships between Hmcomm and Collabo Techno.
• Hmcomm will acquire 450 shares, representing a 90% voting rights ownership, for an estimated total acquisition cost of 160 million yen, consisting of 135 million yen for common shares and an estimated 25 million yen for advisory fees.
• The share transfer is scheduled for May 11, 2026, after which Collabo Techno is expected to become a consolidated subsidiary of Hmcomm.

This acquisition suggests Hmcomm’s strategic intent to strengthen its AI business’s end-to-end service delivery by vertically integrating “AI product implementation” capabilities, complementing its existing “strategy formulation” and “DX design” functions. The establishment of a “Forward Deployed Engineer (FDE) model” aims to provide on-site problem-solving and AI implementation, which could lead to the full-scale deployment of “AI BPaaS” and the expansion of recurring revenue models. This move may reinforce the company’s mid-to-long-term revenue base and enhance corporate value.

• Cawachi Co., Ltd.’s consolidated financial results for the fiscal year ended March 2026 showed net sales of ¥284,492 million (down 1.2% year-on-year), operating profit of ¥6,779 million (down 9.1%), ordinary profit of ¥7,897 million (down 5.3%), and net profit attributable to owners of parent of ¥3,200 million (down 34.5%).
• The annual dividend for the fiscal year ended March 2026 was ¥100.00, consisting of an ordinary dividend of ¥80.00 and a commemorative dividend of ¥20.00 for the 65th anniversary, an increase from ¥80.00 in the previous fiscal year. The payout ratio was 69.8%.
• The consolidated earnings forecast for the fiscal year ending March 2027 projects net sales of ¥285,000 million (up 0.2% year-on-year), operating profit of ¥5,100 million (down 24.8%), ordinary profit of ¥6,000 million (down 24.0%), and net profit attributable to owners of parent of ¥3,000 million (down 6.3%).
• The forecasted annual dividend for the fiscal year ending March 2027 is ¥100.00, comprising an interim dividend of ¥50.00 and a year-end dividend of ¥50.00.
• During the current fiscal year, 6 new stores were opened, and 4 dispensing pharmacies were added. The total number of stores at the end of the period was 386 (including 160 with dispensing pharmacies). Accounting policies have been changed due to revisions of accounting standards.

The consolidated financial results for the fiscal year ended March 2026 highlight a significant decrease in net profit attributable to owners of parent, despite only a slight decline in net sales, primarily due to factors such as the recording of impairment losses. Conversely, the annual dividend, including a commemorative dividend for the 65th anniversary, increased from the previous fiscal year, leading to a higher payout ratio. The earnings forecast for the fiscal year ending March 2027 suggests a continued challenging outlook for profits, even with a slight increase in net sales, though the company plans to maintain the annual dividend at the same level as the previous year.

• In the 2026 February fiscal period, Sankei Real Estate reported operating revenue of 2,882 million JPY (up 10.3% year-on-year) but an operating loss of 3,323 million JPY and a net loss of 4,009 million JPY.
• Consequently, the net loss per unit for the 2026 February period was 8,583 JPY, and the distribution per unit was 0 JPY.
• A tender offer for the Investment Corporation’s units by Tiger Investment Limited Partnership and Lion Investment Limited Partnership is being conducted from January 7, 2026, to April 28, 2026.
• The Investment Corporation resolved at its board meetings from January 6, 2026, onwards to support this tender offer and recommend that unitholders accept it.
• This tender offer is premised on the delisting of the Investment Corporation’s units.

The significant net loss for the period and the zero distribution per unit are key points for investors to consider. The ongoing tender offer (TOB), which assumes the delisting of the Investment Corporation, suggests significant implications for the future status of the investment units and the continuation of the corporation’s business. While the next period’s operational forecast anticipates a return to profitability and distribution, the outcome of the TOB will likely be a critical factor to monitor.

• Jelly Beans Group Co., Ltd. (Head office: Koto-ku, Tokyo) resolved at its Board of Directors meeting on April 28, 2026, to enter into a capital and business alliance agreement with Global Cloud Estate Co., Ltd. (Head office: Kawasaki City, Kanagawa Prefecture), a real estate crowdfunding operator.
• Under this business alliance, a new advertising and marketing subsidiary to be established by Jelly Beans Group will exclusively handle customer acquisition and marketing strategies as the primary agent for “Camel,” operated by Global Cloud Estate.
• Jelly Beans Group will acquire 1,000 shares of Global Cloud Estate for JPY 100,000,000, resulting in a 5.5% voting rights ratio. The payment date for the share transfer is set for April 30, 2026.
• To promote initiatives related to the capital and business alliance, Jelly Beans Group will establish a new wholly-owned subsidiary, JB Marketing (tentative name), with a capital of JPY 9,000,000. Its establishment is scheduled for mid-May 2026.
• Both companies will explore integrating Jelly Beans Group’s consolidated subsidiary JB Sustainable’s grid-connected storage battery projects into Global Cloud Estate’s funds, as well as enhancing a real estate financial platform utilizing Web3 and IT technologies.

This alliance suggests Jelly Beans Group’s strategic move to leverage its digital marketing expertise from the e-commerce business into the growing real estate crowdfunding market. It may also indicate an effort to build new revenue models by integrating the environmental energy sector with FinTech. The establishment of a new subsidiary appears to be a step towards strengthening the operational framework for executing these strategies efficiently and professionally.

• Trailhead Global Holdings Inc. announced on April 28, 2026, the completion of its acquisition of all shares of SBWorks Co., Ltd., making it a wholly-owned subsidiary.
• SBWorks Co., Ltd. specializes in IT consulting, various system development support, and the planning and operation of IT services.
• For the fiscal year ended February 2026, SBWorks reported a profit with sales of 675 million yen, operating income of 20 million yen, ordinary income of 26 million yen, and net income of 30 million yen.
• Trailhead states that this acquisition is expected to be a powerful growth engine that will significantly accelerate the achievement of its mid-term management plan targets and substantially contribute to the improvement of the group’s overall capital efficiency (ROE).
• The acquisition price and the financial condition of SBWorks are not disclosed due to the counterparty’s preference.

This move appears to be a strategic initiative by Trailhead to bolster its business foundation in the IT consulting and system development sectors. SBWorks’ recent return to profitability could indicate its potential to contribute positively to Trailhead’s growth strategy. However, the non-disclosure of the acquisition price and financial condition may lead investors to monitor future information disclosures for more comprehensive understanding.

• Atom Livin Tech Co., Ltd. announced its non-consolidated financial results for the third quarter of the fiscal year ending June 2026 (July 1, 2024, to March 31, 2025) on April 28, 2026.
• For the cumulative period, net sales increased by 1.0% year-on-year, reaching ¥7,868 million.
• Operating profit was ¥384 million (down 10.3% YoY), ordinary profit was ¥433 million (down 5.2% YoY), and net income for the quarter was ¥300 million (down 5.0% YoY).
• As of March 31, 2025, total assets stood at ¥11,740 million, net assets at ¥10,605 million, and the equity ratio was 90.3%.
• The full-year earnings forecast for FY2026 (net sales ¥10,500 million, operating profit ¥350 million) and the annual dividend forecast of ¥31.50 per share remain unchanged from the previously announced figures.

Atom Livin Tech’s third-quarter cumulative results show a slight increase in revenue, but a decline in profits compared to the prior year. The company maintains a high equity ratio of 90.3%, which may suggest a strong financial position. As the full-year earnings forecast remains unchanged, investors might monitor performance in the upcoming final quarter to assess goal attainment.

• Mitsuchi Co., Ltd. reported consolidated net sales of JPY 9,264 million for the nine months ended March 31, 2026 (down 0.4% year-on-year), with operating income at JPY 48 million (down 59.1% year-on-year).
• During the same period, ordinary income increased by 14.2% year-on-year to JPY 214 million, and net income attributable to owners of the parent significantly improved to JPY 220 million (from a net loss of JPY 2 million in the prior year).
• As of March 31, 2026, total assets stood at JPY 15,956 million and net assets at JPY 10,382 million, resulting in a self-capital ratio of 65.1%, up from 60.8% at the end of the previous fiscal year.
• The full-year consolidated earnings forecast for the fiscal year ending June 2026 remains unchanged, projecting net sales of JPY 12,557 million, operating income of JPY 201 million, ordinary income of JPY 340 million, and net income attributable to owners of the parent of JPY 237 million (JPY 50.92 per share).
• By segment, the Thailand region achieved increased sales of JPY 2,100 million (up 10.2% year-on-year) and operating income of JPY 289 million (up 20.3% year-on-year).

While net sales saw a slight decrease, the substantial improvement in net income attributable to owners of the parent, turning from a loss to a profit, is a notable development, potentially influenced by special gains such as a JPY 74 million gain from lease contract changes. The increase in ordinary income may suggest improvements in non-operating revenues or financial stability. Furthermore, the rise in the self-capital ratio to 65.1% could indicate a strengthening of the company’s financial foundation.

• For the fiscal year ended March 31, 2026, Netyear Group (non-consolidated) reported net sales of ¥3,672 million (up 8.7% year-on-year), operating income of ¥331 million (up 301.6% year-on-year), and ordinary income of ¥337 million (up 306.2% year-on-year).
• The company recorded a net profit of ¥173 million, marking a turnaround from a net loss of ¥33 million in the previous fiscal year.
• The annual dividend for FY2026/3 was ¥7.00 (up from ¥6.00 in the prior year).
• For the fiscal year ending March 31, 2027, the company forecasts full-year net sales of ¥4,100 million (up 11.6% year-on-year), operating income of ¥350 million (up 5.5% year-on-year), and net income of ¥243 million (up 39.8% year-on-year). The forecasted annual dividend is ¥7.00.
• The equity ratio at the end of the period stood at 80.9% (compared to 84.2% at the end of the prior fiscal year).

The FY2026/3 results show a significant improvement, with substantial increases in operating and ordinary income and a return to net profitability, which may indicate a successful period of business recovery and growth. The positive full-year forecast for FY2027/3, projecting continued revenue and profit expansion, could suggest management’s confidence in sustained operational momentum. The company’s high equity ratio of 80.9% typically reflects a strong and stable financial position.

• Aiming Inc. (3911) has announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 – March 31, 2026).
• For the reported quarter, consolidated net sales were ¥3,249 million (down 37.1% year-on-year), operating profit was ¥241 million (down 82.2% year-on-year), ordinary profit was ¥191 million (down 61.9% year-on-year), and net profit attributable to owners of parent was ¥164 million (down 54.7% year-on-year).
• The company revised its consolidated financial forecast for the first half of FY2026 (January 1, 2026 – June 30, 2026), projecting net sales of ¥6,745 million (down 25.0% year-on-year), operating profit of ¥327 million (down 82.2% year-on-year), and net profit attributable to owners of parent of ¥109 million (down 86.8% year-on-year).
• Contributions to revenue included the 5.5th-anniversary events and new character additions for “Dragon Quest Tact,” as well as the launch of the “TV Asahi Co-production Live-action Romance Simulation Game” on March 4, 2026.
• As of March 31, 2026, total assets were ¥9,089 million (down ¥116 million from the previous fiscal year-end), net assets were ¥7,024 million (up ¥127 million), and the equity ratio was 77.5%.

• The significant year-on-year declines in sales and profit for Q1 may suggest a challenging operating environment, potentially influenced by the intensified competition and rising development costs within the online game market.
• However, the company highlighted revenue contributions from ongoing management of existing key titles and the introduction of a new game, which could indicate efforts to mitigate broader market pressures.
• Aiming’s approach of disclosing forecasts for the next quarter rather than the full fiscal year underscores the volatile and rapidly changing nature of the online game business, making short-term performance highly dependent on recent releases and ongoing title engagement.

• Aucnet Inc. announced on April 28, 2026, the resolution to enhance its shareholder benefit program.
• This enhancement will be applied to shareholders recorded on the register as of the end of December 2026, targeting those holding 300 shares or more annually as of the end of December.
• Shareholder benefit points will be increased based on the number of shares held, with a notable rise in points for holdings between 300 and 1,399 shares (e.g., 700-1,399 shares will receive 8,000 points, up from 5,000 points prior to the change).
• New redemption options include an electronic money benefit (Amazon Gift Card) and the ability to use WILLsCoin for “Furusato Nozei” (hometown tax donation).
• The company implemented a 2-for-1 stock split effective April 1, 2026, and the prior shareholder benefit point values are stated based on post-split shareholdings.

This enhancement of the shareholder benefit program, following a stock split, may suggest Aucnet’s continued commitment to strengthening shareholder returns. The increased points for lower shareholding tiers and the introduction of new, flexible redemption options like electronic money benefits and “Furusato Nozei” could appeal to a broader base of investors. These measures collectively indicate the company’s strategy to enhance shareholder value and attract a wider range of investors by offering more convenient and attractive incentives.

• ATLED Inc. announced its non-consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026).
• For the period, net sales reached ¥2,902 million (up 4.9% year-on-year), while operating profit was ¥1,049 million (down 0.8% year-on-year) and net income was ¥716 million (down 1.7% year-on-year).
• By business segment, package software sales decreased by 12.1% to ¥1,235 million, whereas cloud services sales grew significantly by 22.5% to ¥1,667 million.
• The company’s annual dividend for the fiscal year ended March 31, 2026, was set at ¥34.00 per share (¥17.00 interim, ¥17.00 year-end).
• For the fiscal year ending March 31, 2027, the company forecasts net sales of ¥3,260 million (up 12.3% year-on-year), operating profit of ¥1,170 million (up 11.4% year-on-year), and net income of ¥783 million (up 9.3% year-on-year).

ATLED’s FY2026/3 results show an increase in net sales but a slight decrease in operating and net profit, suggesting that growth in cloud services mitigated declines in package software, potentially indicating a shift in revenue streams or cost structures. The positive FY2027/3 outlook for revenue and profit growth may suggest the company’s focus on expanding its cloud business is expected to drive future performance.

• For the fiscal year ended March 31, 2026, consolidated net sales reached JPY 2,573,969 million, an increase of 0.5% compared to the previous fiscal year.
• Consolidated operating profit decreased by 14.4% to JPY 635,204 million, and ordinary profit decreased by 13.7% to JPY 708,281 million.
• Net profit attributable to owners of parent decreased by 11.2% to JPY 474,459 million.
• The annual dividend per share for FY2026 was JPY 106.00, maintained at the same level as the previous fiscal year.
• Shares of treasury stock at the end of the period totaled 128,283,489 shares, an increase from 24,869,464 shares in the previous fiscal year. A total of 105,193,300 treasury shares (JPY 499,998 million) were acquired based on a resolution dated April 25, 2025.

While consolidated net sales saw a slight increase, key profit metrics recorded double-digit decreases year-over-year, which may suggest impacts from changes in the business environment. Conversely, the company maintained its annual dividend and actively executed treasury stock acquisitions, indicating a commitment to shareholder returns. The decrease in the equity ratio and the increase in cash flows from investing activities could point to the direction of future business development and capital expenditures.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

• For the second quarter (interim) of the fiscal year ending September 2026 (October 1, 2025 – March 31, 2026), net sales amounted to JPY 2,812 million, an increase of 37.2% compared to the same period of the previous fiscal year.
• Operating profit for the same period was JPY 568 million (+117.2% year-on-year), ordinary profit was JPY 568 million (+116.4% year-on-year), and interim net profit was JPY 483 million (+95.4% year-on-year).
• Total transaction volume across all services increased by 33.5% from the previous interim period, reaching JPY 10,797,354 thousand.
• The full-year earnings forecast for the fiscal year ending September 2026 was revised upwards, projecting net sales of JPY 5,400 million, operating profit of JPY 670-800 million, ordinary profit of JPY 670-800 million, and net profit of JPY 590-700 million.
• As of the end of the interim accounting period (March 31, 2026), total assets were JPY 8,226 million, and net assets were JPY 5,900 million.

The substantial growth in transaction volume and profits appears to be driven by successful acquisition of new high-quality projects on the Makuake service, enhanced support from curators, and increased utilization of advertising distribution services. The upward revision of the full-year earnings forecast may suggest confidence in the continued expansion of the company’s business activities.

• DENTSU SOKEN INC. announced its first-quarter results for the fiscal year ending December 2026 on April 28, 2026.
• Consolidated net sales increased by 8.9% year-over-year to ¥43,820 million, and consolidated operating profit rose by 14.0% to ¥6,588 million. Net profit attributable to owners of the parent increased by 13.1% to ¥4,648 million.
• The company reported solid progress against its first-half plan, with sales at 50.4% and operating profit at 54.9%.
• The Financial Solutions, Business Solutions, and Communication IT segments drove the growth in both sales and profit. Notably, the Business Solutions segment’s operating profit surged by 108.1%.
• Orders received increased by 19.8% year-over-year to ¥58,114 million, and the order backlog expanded by 33.0% to ¥90,634 million, reflecting strong performance across all segments.
• The full-year consolidated earnings forecast for the fiscal year ending December 2026 remains unchanged from the announcement made on February 12, 2026.

The first-quarter performance suggests that growth was driven by increases in key segments, supported by improved gross profit margins primarily from entrusted system development and software products. The substantial rise in operating profit within the Business Solutions segment and the overall increase in orders received and order backlog across all segments could indicate a strong foundation for continued performance. The solid progress against the first-half plan may also suggest a steady trajectory towards achieving the full-year targets.

• G-REALGATE announced its interim financial results for the second quarter of the fiscal year ending September 2026, reporting revenue of JPY 5,673 million, a decrease of 11.2% compared to the prior interim period.
• Concurrently, operating profit increased by 33.4% to JPY 1,043 million, ordinary profit by 26.3% to JPY 874 million, and interim net profit by 24.4% to JPY 593 million.
• Total assets stood at JPY 25,242 million (up JPY 3,978 million from the previous fiscal year-end), and net assets at JPY 4,063 million (up JPY 712 million).
• The full-year forecast for FY2026 remains unchanged, projecting revenue of JPY 10,500 million (up 7.2% year-on-year), operating profit of JPY 1,470 million (up 40.9%), and net profit of JPY 725 million (up 29.6%).
• During the interim period, G-REALGATE completed contracts for 4 new acquired properties and 2 master lease properties, increasing its annual property acquisition target to 12.

Despite a decline in revenue, the significant increase in all stages of profit suggests an improvement in profitability. The company attributed this to high occupancy rates of existing properties and the sale of properties for sale. The accelerated acquisition activities and focus on new businesses could indicate a strategic expansion for future growth. The increase in total assets, primarily driven by new property acquisitions, reflects an active investment strategy.

• Tokyo Jidou Kikai Seisakusho (Code: 6360) announced on April 28, 2026, a revision to its full-year consolidated earnings forecast for the fiscal year ending March 2026.
• For the fiscal year ending March 2026, the company revised its revenue forecast downwards from 10,000 million yen to 9,692 million yen. However, it significantly upgraded its profit forecasts: operating profit from 400 million yen to 669 million yen, ordinary profit from 570 million yen to 865 million yen, and net profit from 500 million yen to 808 million yen.
• The revenue revision is attributed to the deferral of some projects to the next fiscal period. The upward revision of profits is due to improved cost ratios from efficiency efforts and price pass-through initiatives, along with gains from the partial sale of strategic shareholdings.
• Concurrently, the company revised its annual dividend forecast for the fiscal year ending March 2026 from 100 yen 00 sen per share to 160 yen 00 sen per share, representing an increase.
• The dividend revision is based on the company’s profit distribution policy, which targets a dividend payout ratio of approximately 30%, in conjunction with the revised earnings forecast.

Despite a slight decrease in revenue forecast due to project deferrals, the substantial improvement in profitability, driven by efficiency, price pass-through, and strategic share sales, stands out. This positive earnings revision appears to have facilitated a significant dividend increase, aligning with the company’s stated dividend payout ratio target of 30%. These developments may suggest a balanced focus on operational improvements and shareholder returns.

• Mitsubishi Electric Corporation reported consolidated results for the fiscal year ended March 31, 2026, with revenue reaching ¥5,894,747 million (up 6.8% year-on-year) and profit attributable to owners of parent increasing to ¥407,758 million (up 25.8% year-on-year).
• Operating profit for the period was ¥433,095 million (up 10.5% year-on-year), and profit before tax was ¥526,077 million (up 20.3% year-on-year).
• The annual dividend for FY2026 was announced at ¥55.00 per share, an increase of ¥5.00 from the previous year, comprising an interim dividend of ¥25.00 and a year-end dividend of ¥30.00. The consolidated dividend payout ratio stands at 27.7%.
• For the fiscal year ending March 31, 2027 (FY2027), the company forecasts consolidated revenue of ¥6,200,000 million (up 5.2% year-on-year) and profit attributable to owners of parent of ¥475,000 million (up 16.5% year-on-year).
• During the fiscal year, there were significant changes in the scope of consolidation, with the addition of two companies (Mitsubishi Electric Middle East, Africa and CIS Inc., Nozomi Networks, Inc.) and the exclusion of two companies (Mitsubishi Electric Information Systems Corporation, Mitsubishi Electric IT Solutions Corporation).

Mitsubishi Electric’s consolidated results for FY2026 indicate a robust performance with growth across revenue and all profit metrics. The announced increase in the annual dividend, coupled with a positive outlook for FY2027 forecasting continued revenue and profit growth, may suggest a favorable operational trajectory for the company. Furthermore, the substantial increase in share of profit of investments accounted for using the equity method appears to have significantly contributed to the overall profit growth during the period.

• Consolidated revenue for the fiscal year ended March 31, 2026, was ¥3,502,971 million, representing a 1.3% decrease year-on-year.
• Consolidated operating profit reached ¥348,329 million, marking a 31.4% increase from the previous fiscal year.
• Profit attributable to owners of parent significantly increased by 104.5% year-on-year to ¥449,408 million.
• Basic earnings per share (EPS) for the period stood at ¥254.83.
• The annual dividend for FY2025 (ending March 31, 2026) was determined to be ¥50.00 per share (¥15.00 interim, ¥35.00 year-end).

Fujitsu’s FY2025 results demonstrate a notable improvement in profitability, with operating profit and profit attributable to owners of parent showing significant growth despite a slight decline in revenue. The reclassification of the Device Solutions business as discontinued operations may influence the interpretation of reported figures for continuing operations. The increase in the annual dividend compared to the previous fiscal year could also be a point of interest for investors.

• Makita Corporation announced its consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026), on April 28, 2026.
• Consolidated revenue increased by 3.2% year-over-year to JPY 777.6 billion, while consolidated operating profit decreased by 2.2% to JPY 104.705 billion.
• Profit attributable to owners of the parent recorded a slight increase of 0.1% to JPY 79.414 billion.
• The annual dividend for the fiscal year ended March 31, 2026, was set at JPY 150.00 per share, an increase of JPY 40.00 from the previous fiscal year.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated revenue of JPY 820.0 billion (up 5.5% YoY) and operating profit of JPY 110.0 billion (up 5.1% YoY).

• For FY2026, while revenue showed growth, operating profit experienced a slight decline, which may be attributed to foreign exchange impacts, increased sales personnel, and advertising expenses.
• However, profit attributable to owners of the parent secured a marginal increase, and the significant dividend hike to JPY 150.00 per share from JPY 110.00 could be a notable point for investors.
• Furthermore, the company forecasts revenue and profit growth for FY2027, suggesting an anticipated positive trajectory for business recovery and expansion in the upcoming period.

• Interlife Holdings Co., Ltd. announced on April 28, 2026, the finalized financial results for its unlisted parent company, Tatsumi Co., Ltd.
• Tatsumi Co., Ltd. primarily operates in real estate leasing and holds 42.78% of Interlife Holdings Co., Ltd.’s voting rights as of January 31, 2026.
• Mr. Masahide Shoji, Representative Director of Tatsumi Co., Ltd., concurrently serves as Representative Director, Chairman & CEO of Interlife Holdings Co., Ltd.
• Tatsumi Co., Ltd. has changed its fiscal year-end from March to January.
• As of January 31, 2026, Tatsumi Co., Ltd.’s balance sheet shows total assets of JPY 13,875 million and total net assets of JPY 13,675 million.
• For the period from April 1, 2025, to January 31, 2026, Tatsumi Co., Ltd. reported operating revenue of JPY 374 million and net profit of JPY 260 million.

The disclosure of an unlisted parent company’s financial results can offer investors additional insights into the broader corporate group’s financial health, even if it is not a consolidated entity. The change in the parent company’s fiscal year-end may also warrant monitoring for its potential implications on future information disclosure timelines.

• For the first quarter of the fiscal year ending December 2026 (January 1, 2026 – March 31, 2026), V-Commerce reported non-consolidated sales of ¥2,896 million, an operating loss of ¥235 million, an ordinary loss of ¥224 million, and a net loss of ¥224 million.
• Year-on-year comparisons for this quarter are not provided, as the company shifted from consolidated financial reporting in Q1 FY2025 to non-consolidated reporting in Q1 FY2026.
• The decline in sales is primarily attributed to the termination of transaction agreements for “StoreMatch” (click-based advertising) and “STORE’s R∞” (CRM tool) for online mall stores, effective July 31, 2025.
• The full-year forecast for FY2026 remains unchanged, projecting sales of ¥14,400 million, an operating loss of ¥700 million, an ordinary loss of ¥700 million, and a net loss of ¥800 million.
• As of the end of the first quarter, total assets stood at ¥15,435 million (a decrease of ¥706 million from the previous fiscal year-end), and net assets were ¥11,556 million (a decrease of ¥625 million).

V-Commerce’s Q1 FY2026 results reflect the significant impact of terminated key business agreements, leading to losses in its first non-consolidated disclosure. Investors may want to monitor how the company navigates this transitional period and adapts its business strategy going forward. The unchanged full-year forecast could suggest management anticipates recovery or the realization of new strategic initiatives in subsequent quarters.

• P-Cliniphar announced on April 28, 2025, a revised (upward) consolidated financial forecast for the full fiscal year ending March 2026.
• Net sales were revised downward by 1.8%, from the previous forecast of JPY 3,767 million to JPY 3,700 million.
• Operating profit was revised upward by 40.7%, from JPY 95 million to JPY 134 million.
• Net profit attributable to owners of parent was revised upward by 27.6%, from JPY 118 million to JPY 151 million.
• The upward revision in profits is attributed to optimized inventory management and agile product supply in the domestic business, responsive measures to logistics disruptions in the overseas business, and the depreciation of the Japanese yen.

Despite a downward revision in net sales, the significant upward adjustment to all profit items may suggest the company’s shift towards a business operation model prioritizing profitability. Specifically, optimized inventory management in the domestic business and the depreciation of the yen appear to have been key contributors to the improved profitability. This earnings forecast revision could indicate progress in the company’s efforts to enhance its revenue structure, which is worth monitoring.

• For the fiscal year ended March 2026, OLC reported consolidated net sales of ¥704,539 million, a 3.7% increase year-on-year.
• Operating profit decreased by 2.1% to ¥168,413 million, ordinary profit by 2.1% to ¥169,641 million, and net profit attributable to parent company shareholders by 1.8% to ¥121,881 million, indicating higher revenue but lower profits.
• By segment, the hotel business recorded sales of ¥119,049 million (a 7.8% increase) and operating profit of ¥36,851 million (a 20.9% increase). The theme park business saw increased sales but decreased operating profit.
• OLC’s consolidated earnings forecast for the fiscal year ending March 2027 anticipates net sales of ¥724,312 million (a 2.8% increase), but projects decreases in operating profit to ¥160,776 million (a 4.5% decrease) and net profit to ¥113,797 million (a 6.6% decrease).
• The company’s annual dividend for FY2026 March was ¥15.00, with a projected increase to ¥16.00 for FY2027 March.

• OLC’s FY2026 March financial results indicate a period of revenue growth primarily driven by new attractions and hotel operations, but also highlight a contraction in profitability due to rising operational costs, including personnel expenses.
• The company’s continued investment in facilities, such as the full-year operation of the new “Fantasy Springs” theme port at Tokyo DisneySea, appears to be contributing to top-line expansion.
• However, the projected decline in profits for FY2027 March suggests that the focus for investors may shift towards how OLC manages its cost structure and leverages these investments for improved profitability in the long term.

• Future Corporation reported consolidated results for the first quarter of fiscal year 2026 (January 1, 2026 to March 31, 2026), with net sales of ¥18,262 million (up 5.4% year-on-year), operating profit of ¥3,433 million (up 3.0%), and net profit attributable to parent company shareholders of ¥2,357 million (up 18.0%).
• As of the end of the first quarter, consolidated total assets amounted to ¥94,019 million, net assets to ¥63,358 million, and the equity ratio to 67.4%.
• In the IT Consulting & Service segment, net sales increased to ¥16,542 million (up 6.5% year-on-year), but operating profit remained flat at ¥3,544 million (down 0.4%). Future Architect Co., Ltd. made progress on projects, including the new implementation of the “Next-Generation Banking System” for SBI Shinsei Bank.
• The Business Innovation segment saw a reduction in operating loss. This was attributed to improvements in gross profit margin and fixed cost reductions at YOCABITO Co., Ltd., while Tokyo Calendar Co., Ltd. experienced a decline in sales and profit due to a reactionary decrease in advertising revenue and strategic investments.
• The consolidated earnings forecast for the full fiscal year 2026 and the annual dividend forecast (¥48.00) remain unchanged from the latest publicly announced figures.

While net profit attributable to parent company shareholders recorded a significant increase, the growth in net sales and operating profit was more modest, which may suggest contributions from improved non-operating income or enhanced profitability in specific business areas. The flat operating profit in the IT Consulting & Service segment despite increased sales was attributed to the completion of large projects and the absence of one-time success fees in some group companies, potentially indicating a shift in segment composition. The decision to maintain the full-year earnings forecast suggests the company views current progress as aligned with its plans.

• Rakuten Group, Inc. announced on April 28, 2026, the first quarter financial results (Japanese GAAP, consolidated) for its consolidated subsidiary, Rakuten Securities, Inc. for the fiscal year ending December 2026.
• For the first quarter of FY2026 (January 1, 2026 – March 31, 2026), Rakuten Securities reported consolidated operating revenue of ¥50,318 million and net operating revenue of ¥45,020 million.
• During the same period, consolidated operating profit was ¥14,625 million, consolidated ordinary profit was ¥14,704 million, and profit attributable to owners of parent for the quarter was ¥7,823 million.
• Compared to the same period last year (Q1 FY2025), operating profit increased from ¥7,599 million to ¥14,625 million, and profit attributable to owners of parent increased from ¥3,708 million to ¥7,823 million.
• The consolidated financial results for Rakuten Group’s first quarter of FY2026 are scheduled to be announced on Thursday, May 14, 2026.

• Rakuten Securities’ first quarter results show a substantial year-over-year increase in both operating profit and profit attributable to owners of parent, which may indicate a continuation of robust business performance.
• This strong financial performance could be a focal point for investors, given Rakuten Securities’ role as a key subsidiary ahead of Rakuten Group’s broader consolidated earnings announcement.
• It is also worth noting that Rakuten Securities’ financial statements are prepared under Japanese GAAP, which may involve different accounting treatments compared to the IFRS standards adopted by Rakuten Group.

• Canare Electric Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026, to March 31, 2026). Net sales were ¥3,218 million (down 3.6% year-on-year), operating profit was ¥380 million (down 25.0%), ordinary profit was ¥393 million (down 23.5%), and profit attributable to owners of parent was ¥272 million (down 29.6%).
• Segment-wise, sales in the Japan market decreased to ¥1,610 million (down 16.0% year-on-year), with segment profit also declining to ¥336 million (down 26.7%), primarily due to lower sales in the broadcasting market.
• Conversely, international markets showed sales growth, with China’s sales reaching ¥316 million (up 22.8% year-on-year) and segment profit ¥17 million (up 398.9%), and South Korea’s sales reaching ¥241 million (up 15.5%) and segment profit ¥15 million (up 133.3%).
• The consolidated full-year forecast for the fiscal year ending December 2026 remains unchanged from the most recently announced forecast, projecting net sales of ¥13,200 million (up 0.6% year-on-year), operating profit of ¥1,480 million (down 6.4%), ordinary profit of ¥1,630 million (down 2.8%), and profit attributable to owners of parent of ¥1,180 million (down 1.7%).
• As of the end of the first quarter, consolidated total assets stood at ¥20,904 million, net assets at ¥19,082 million, and the equity ratio was 91.3%.

While Canare Electric reported a decline in both sales and profits for the first quarter, the results indicate a divergence between domestic and international market performance. The significant growth in sales and segment profits in regions like China and South Korea suggests the potential for international expansion to offset domestic challenges. The unchanged full-year forecast, despite the Q1 decline, could suggest that management anticipates an improvement in performance during subsequent quarters or a continued strong contribution from overseas operations. The company’s high equity ratio of 91.3% may be seen as an indicator of strong financial stability.

• Nihon Kogyo Co., Ltd. reported consolidated results for the fiscal year ended March 31, 2026, with net sales of ¥16,321 million (up 10.7% year-on-year), operating profit of ¥790 million (up 33.0%), ordinary profit of ¥822 million (up 28.5%), and net profit attributable to owners of parent of ¥577 million (up 46.8%).
• Diluted earnings per share for FY2026 stood at ¥198.48, and the equity ratio was 50.1%.
• The year-end dividend for FY2026 was set at ¥55.00, comprising an ordinary dividend of ¥45.00 and a commemorative dividend of ¥10.00, bringing the total annual dividend to ¥55.00 (compared to ¥40.00 in the previous fiscal year).
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of ¥15,300 million (down 6.3% year-on-year), operating profit of ¥680 million (down 14.0%), and net profit attributable to owners of parent of ¥410 million (down 29.1%).
• The forecast for the annual dividend for FY2027 is ¥45.00 per share.

The fiscal year 2026 saw robust double-digit growth in sales and all profit metrics, accompanied by a dividend increase including a commemorative payout. However, the company’s forecast for fiscal year 2027 projects a decline in both revenue and profits, with net profit attributable to owners of parent expected to decrease by approximately 29% year-on-year, which may draw investor attention to the outlook.

• FPG reported consolidated results for the second quarter (interim period) of FY2026, with net sales of ¥35,586 million (down 43.9% year-on-year) and interim net income attributable to owners of parent of ¥8,096 million (down 25.3% year-on-year).
• The lease fund business saw increased revenue, reporting net sales of ¥17,141 million (up 18.0% year-on-year) and gross profit of ¥15,120 million (up 24.0% year-on-year).
• The domestic real estate fund business experienced a significant decline, with net sales of ¥18,086 million (down 60.0% year-on-year) and gross profit of ¥3,073 million (down 37.7% year-on-year). This was attributed to the impact of tax reform reports, leading to a temporary halt in new sales and cancellations in the first quarter.
• The consolidated full-year forecast for FY2026 remains unchanged from the most recently published figures, projecting net sales of ¥82,876 million and net income attributable to owners of parent of ¥15,513 million.
• The interim dividend for the second quarter of FY2026 is ¥46.35, with the year-end dividend forecast also at ¥46.35, resulting in a full-year dividend forecast of ¥92.70.

FPG’s interim results for FY2026 indicate a decrease in consolidated net sales and profit compared to the previous year, with varying performance across business segments. The significant impact of tax reform reports on the domestic real estate fund business is a key factor for investors to consider. Conversely, the steady performance of the lease fund business and the unchanged full-year consolidated earnings forecast may be points of interest.

• G-PROGRIT Co., Ltd. completed the acquisition of Study Hacker Inc. on April 28, 2026, making it a wholly-owned subsidiary.
• Study Hacker Inc. changed its trade name to “ENGLISH COMPANY Inc.” as of today.
• The reason for the trade name change is to align with its main service “ENGLISH COMPANY,” aiming to strengthen brand recognition and market credibility.
• Wataru Takahashi, Executive Officer and Head of the President’s Office at G-PROGRIT Co., Ltd., has been appointed as the new Representative Director and President, replacing Kensaku Oka, effective today.
• The impact of this acquisition on G-PROGRIT’s consolidated financial results for the fiscal year ending August 2026 will be disclosed promptly once determined.

• This complete acquisition suggests a strategic move by G-PROGRIT to integrate Study Hacker’s English education business more deeply, potentially aiming for enhanced synergy and market expansion.
• The rebranding of the subsidiary and the appointment of an executive from the parent company to lead it may indicate efforts to streamline operations and ensure unified strategic direction within the expanded group.
• Investors will likely monitor the upcoming disclosure regarding the financial impact on the consolidated results for the fiscal year ending August 2026 to assess the full implications of this transaction.

• SHINPO’s consolidated results for the third quarter of fiscal year 2026 (July 1, 2025 – March 31, 2026) show net sales of ¥5,166 million (down 8.0% year-on-year), operating profit of ¥556 million (down 29.1%), ordinary profit of ¥563 million (down 29.1%), and net profit attributable to owners of parent of ¥381 million (down 20.6%).
• The full-year consolidated earnings forecast has been revised to net sales of ¥6,734 million (down 8.6% from previous year), operating profit of ¥650 million (down 33.4%), ordinary profit of ¥659 million (down 33.3%), and net profit attributable to owners of parent of ¥450 million (down 23.1%).
• The annual dividend forecast for the fiscal year ending June 2026 has been revised to ¥0.00 per share for the year-end dividend, resulting in no dividend. This revision is related to the “Announcement of MBO Implementation and Recommendation for Tender” disclosed today, April 28, 2026.
• As of March 31, 2026, consolidated total assets were ¥8,842 million, net assets were ¥7,133 million, and the equity ratio was 80.7%.
• Regarding business performance, the challenging business environment in Japan’s yakiniku industry suppressed sales of products and store environments, while the grill rental service achieved increased revenue due to robust new orders. Overseas sales recovered to the previous year’s level due to large-scale order acquisitions in the ASEAN region and market recovery in North America.

SHINPO reported a decline in both revenue and profit for Q3 FY2026, concurrently revising down its full-year earnings forecast and its annual dividend forecast to zero. The company also announced the implementation of an MBO on April 28, 2026. These simultaneous significant disclosures suggest that fundamental changes are underway, potentially impacting the company’s future corporate governance and shareholder returns. The detailed explanation points to challenges in the domestic market alongside a recovery in overseas business, indicating evolving operational dynamics.

• On April 28, 2026, nms Holdings Inc. filed amended reports for past annual securities reports, semi-annual reports, and internal control reports, and restated past financial summaries.
• The restatements arose from a consolidated subsidiary’s failure to perform necessary accounting treatments in prior fiscal years regarding cost burdens related to defects in products manufactured and sold in the past.
• Net profit attributable to owners of parent for the 39th fiscal year (FY2024, ended March 31, 2024) decreased by JPY 867,574 thousand, from JPY 737,017 thousand before restatement to a revised JPY ▲130,557 thousand.
• Net assets for the 40th fiscal year (FY2025, ended March 31, 2025) decreased by JPY 718,849 thousand, from JPY 5,283,911 thousand before restatement to a revised JPY 4,565,061 thousand.
• Director Kazuhiro Watanabe offered to voluntarily return 20% of his monthly executive compensation for three months.

These restatements, stemming from accounting irregularities at a consolidated subsidiary in prior fiscal years, have led to significant revisions in multiple past financial statements. Investors may particularly note the substantial shift to a net loss attributable to owners of parent for the 39th fiscal year and the decrease in net assets, which could impact evaluations of the company’s financial health. Furthermore, with different auditing firms involved for different restatement periods and further restatements planned for the fiscal year ending March 2026, continuous monitoring of future disclosures is likely warranted.

• Garden Inc. reported signs of business recovery in its FY2026 February period, with performance bottoming out in February and showing improvement from March to April.
• The company is implementing an “Unlimited Rice (all-you-can-eat free rice)” campaign for its flagship brand “Ichikakuya.” This initiative aims to enhance customer satisfaction and drive store visits by re-emphasizing the critical added value of “Iekei Ramen” when combined with rice.
• Regarding store operations, Garden Inc. is pursuing a strategy of displaying two brands on a single store signboard. This approach intends to maximize store-wide profitability and revenue by combining the strong customer drawing power of “Ichikakuya” with the higher profitability of its “Aburasoba” brand, while maintaining the existing cost structure.
• The company maintains a growth strategy through M&A, continuously negotiating with various companies and receiving dozens of new project inquiries monthly. The policy is to avoid high-priced acquisitions, prioritizing the acquisition of profitable projects at reasonable prices.
• Garden Inc. announced an expansion of its shareholder benefit program, adding more complimentary tickets for shareholders holding 200 and 400 shares.

• The reported signs of recovery and the strategic initiatives for existing stores suggest a focused effort to turn around performance from the previous period’s low point.
• The multi-brand strategy for store profitability and a disciplined M&A approach could be key drivers for future corporate value enhancement.
• While the expansion of shareholder benefits indicates a commitment to investor returns, the continued emphasis on maximizing profit as a top priority highlights a balanced approach to capital allocation worth monitoring.

• Unisia HD announced on April 28, 2026, a partial correction to its “Q1 FY2026 Financial Results Supplemental Materials.”
• The correction pertains to the “Q1 FY2026 Financial Results Supplemental Materials” originally disclosed on April 15, 2026.
• The reason for the correction is that certain errors were identified in the stated content.
• The corrected sections are on page 10 of the said materials, specifically concerning the “Company Name,” “Representative,” and “Contact Information.”
• The corrected materials are available on the company’s official website (https://unisia.co.jp/).

• Supplemental financial results materials are crucial resources for investors to understand a company’s performance and strategy, and the accuracy of their content is highly valued.
• This correction relates to fundamental company information within the materials, and the prompt correction of the information may suggest the company’s commitment to transparent disclosure.
• For investors, it is considered important to refer to the corrected materials available on the company’s website to review the revised content.

• eBASE Co., Ltd. resolved on April 28, 2026, to sign a share transfer agreement to acquire 74.8% of the outstanding shares of KSP-SP Co., Ltd.
• Under this agreement, KSP-SP Co., Ltd. will become a subsidiary of eBASE.
• eBASE aims to integrate its “detailed product data” with KSP-SP’s “POS data” to launch a “next-generation data marketing business,” thereby enhancing corporate value.
• The execution date for the share transfer is scheduled for June 30, 2026.
• The acquisition price is undisclosed as per agreement with the counterparty, though due diligence and share valuation by a third-party organization have been conducted to verify its fairness and appropriateness.

This acquisition appears to be a strategic move by eBASE to combine its detailed product data expertise with KSP-SP’s POS data analysis capabilities, aiming to offer new data marketing solutions to the consumer goods and distribution sectors. The integration could lead to the establishment of advanced marketing analysis platforms and enhanced value-added services for client companies, potentially driving cross-selling opportunities and expanding business domains for both entities. Investors may be monitoring the concrete impact on eBASE’s consolidated financial performance from the fiscal year ending March 2027 onwards, as well as progress towards acquiring 100% of KSP-SP’s shares.

• P-RAVIPA Co., Ltd. announced the financial results for the fiscal year ending June 2025 of its unlisted parent company (other affiliated company), Togo Asset Management Co., Ltd.
• Togo Asset Management Co., Ltd. directly holds 30.30% of P-RAVIPA’s voting rights.
• For the fiscal year ended June 30, 2025 (July 1, 2024, to June 30, 2025), Togo Asset Management reported a net income of 19,455 thousand yen.
• As of June 30, 2025, the company’s balance sheet showed total assets of 886,829 thousand yen and total net assets of 441,693 thousand yen.
• Togo Asset Management’s primary business activities include holding and utilizing real estate, as well as holding and managing securities; no sales revenue was reported in its income statement.

The financial health of an unlisted parent company may indirectly influence the management policies and funding strategies of its subsidiary, P-RAVIPA. Togo Asset Management’s revenue structure, characterized by no reported sales but significant non-operating income contributing to ordinary profit, is noteworthy. Given its 30.30% ownership of P-RAVIPA’s voting rights, the extent of its influence on P-RAVIPA’s operations remains a point for monitoring by investors.

• Tirado Co., Ltd. released the Q&A summary from its FY2026/3 full-year earnings briefing on April 28, 2026.
• In its multifunctional radiator business, the company projects approximately 2.2 million units in production and sales of about ¥10 billion by 2030, which is expected to account for roughly 20% of the total radiator business.
• New business areas such as data centers, AI, humanoids, and space are anticipated to contribute to revenue within 5 to 10 years.
• Regarding the impact of the Middle East situation, the company stated it is monitoring key material prices but has a material price slide framework with customers and has not factored this into the FY2026 earnings forecast at present.
• In the Asian region, sales are expected to decrease due to reduced sales to U.S. and other group entities, while operating profit is projected to increase due to a higher proportion of high-margin products and improvements in productivity.

This Q&A summary provides insights into Tirado’s mid-to-long-term growth strategies and risk management approach. The specific targets for multifunctional radiators and new business areas, along with their expected revenue contribution timelines, may be key points for investors to monitor. Furthermore, the company’s responses regarding raw material price fluctuations and Scope 3 initiatives could be relevant for assessing its sustainability and resilience.

• Safie Inc. announced that its consolidated subsidiary, Safie Fieldworks Inc., resolved at its board meeting on April 28, 2026, to acquire all shares of Laska Co., Ltd., a telecommunications infrastructure construction company, making it a wholly-owned subsidiary.
• The purpose of this acquisition is to strengthen the execution capabilities for large-scale projects and expand the nationwide construction network within the cloud recording service business, thereby solidifying its on-site construction and maintenance system.
• Laska Co., Ltd., established on April 11, 2013, and headquartered in Kobe, Hyogo Prefecture, specializes in telecommunications infrastructure construction and previously received orders for construction and maintenance from Safie.
• The share transfer is scheduled for July 1, 2026, at which point Laska will become a consolidated subsidiary of Safie.
• This acquisition is expected to have a minor impact on the consolidated earnings for the fiscal year ending December 2026 and was not included in the consolidated earnings forecast announced on February 13, 2026.

This acquisition appears to be a strategic move by G-Safie to enhance its integrated service delivery system, encompassing sales, construction, and maintenance, within its cloud recording service business. The full acquisition of Laska is likely to bolster Safie Fieldworks’ capacity to manage large-scale projects as a primary contractor and could improve the quality and agility of construction and maintenance services nationwide. This move may lead to more stable service provision for customers and establish a firmer foundation for long-term business growth.