Japan Stock IR Daily – April 30, 2026 (92 reports)

• For fiscal year 2025, consolidated operating revenue increased by 9.5% to ¥2,006.2 billion, and net profit attributable to owners of the parent rose by 20.6% to ¥552.8 billion, marking an increase in both revenue and profit.
• The company forecasts a decrease in both revenue and profit for consolidated and non-consolidated results in fiscal year 2026.
• Regarding shareholder returns, the year-end dividend for FY2025 is set at ¥16 per share (annual dividend of ¥32), with an annual dividend of ¥32 also projected for FY2026. Additionally, a share buyback of up to ¥20 billion will be executed.
• As part of its growth strategy, Tokaido Shinkansen operations saw an increase to a maximum of 13 “Nozomi” trains per hour during certain times from March 2026, with the introduction of premium private compartments planned for October 1, 2026.
• For fiscal year 2026, the company anticipates an increase in costs of approximately ¥40 billion (non-consolidated) due to rising prices and labor costs, and is addressing this through new demand creation, business reforms, and advocacy for fundamental changes to the fare system.

The strong FY2025 results are juxtaposed with a forecast of decreased revenue and profit for FY2026, which may suggest the impact of inflation on costs and the leveling off of recovery from past service disruptions. The company’s focus on enhancing Shinkansen services, implementing business reforms for cost reduction, and advocating for fare system adjustments appears crucial for sustaining and improving profitability. The commitment to stable dividends and share buybacks could indicate a balanced approach to shareholder returns amidst a challenging operational environment.

• For the fiscal year ended March 31, 2026, sales were JPY 5,075 million, a 6.8% decrease year-on-year.
• Operating profit for the same period was JPY 37 million (compared to JPY 3 million in the previous year), and ordinary profit was JPY 34 million (compared to JPY 4 million in the previous year).
• The company recorded a net loss of JPY 160 million, primarily due to JPY 169 million in special losses related to store closures and impairment losses.
• The equity ratio improved to 36.0% as of March 31, 2026 (from 20.9% at the end of the previous fiscal year), with net assets increasing by JPY 382 million to JPY 798 million, driven by the exercise of stock acquisition rights and third-party allotments.
• For the fiscal year ending March 31, 2027, the company forecasts sales of JPY 5,200 million (up 2.5% year-on-year), operating profit of JPY 40 million (up 5.6%), ordinary profit of JPY 40 million (up 17.2%), and a net profit of JPY 10 million.

• Despite a decline in sales, the significant improvement in operating and ordinary profits may suggest an enhancement in operational efficiency.
• The continued net loss is largely attributable to special losses, which could indicate ongoing structural reforms such as store closures and impairment write-downs.
• The substantial improvement in the equity ratio and the forecast for a return to net profitability in the next fiscal year could be viewed as positive indicators for strengthening financial health and future earnings recovery.

• For the fiscal year ended March 31, 2026, Tokai Tokyo FH reported consolidated operating revenue of ¥97,716 million (up 13.2% year-on-year) and net operating revenue of ¥91,920 million (up 10.5% year-on-year).
• Net income attributable to owners of parent significantly increased by 50.0% year-on-year to ¥16,569 million. Basic earnings per share stood at ¥65.82.
• The annual dividend for the fiscal year ended March 31, 2026, totaled ¥50.00 per share, comprising an interim dividend of ¥22 (ordinary ¥14, commemorative ¥8) and a year-end dividend of ¥28 (ordinary ¥20, commemorative ¥8).
• Consolidated earnings and dividend forecasts for the fiscal year ending March 31, 2027, have not been disclosed due to the difficulty in forecasting performance in the financial instruments business, which is highly susceptible to market fluctuations.
• During the period, two companies, TT Digital Platform Co., Ltd. and ETERNAL Co., Ltd., were removed from the scope of consolidation.

Tokai Tokyo Financial Holdings’ FY2026 results highlight a substantial 50.0% increase in net income attributable to owners of parent, which may suggest effective management of market conditions leading to revenue growth. The significant rise in the annual dividend from ¥28.00 to ¥50.00 per share could indicate a strengthened commitment to shareholder returns. The non-disclosure of FY2027 forecasts reflects the inherent volatility of the financial instruments business, where market fluctuations can heavily impact performance, making forward-looking statements challenging.

• Daito Trust Construction Co., Ltd. announced its consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026).
• Consolidated results show net sales of ¥1,984,743 million (up 7.7% year-on-year), operating profit of ¥135,256 million (up 13.8%), ordinary profit of ¥139,169 million (up 7.5%), and profit attributable to owners of parent of ¥99,030 million (up 5.5%).
• The year-end dividend for the fiscal year ended March 31, 2026, is ¥82.00 per share, adjusted for the stock split effective October 1, 2025.
• For the fiscal year ending March 31, 2027 (April 1, 2026 – March 31, 2027), the company forecasts consolidated net sales of ¥2,050,000 million (up 3.3% year-on-year), operating profit of ¥142,000 million (up 5.0%), and profit attributable to owners of parent of ¥108,000 million (up 9.1%).
• The company implemented a 5-for-1 stock split of its common shares effective October 1, 2025.

• The FY2026 consolidated financial results indicate growth across all key profit metrics, which may suggest a robust performance trend for the company.
• The forecast for FY2027 also projects increases in both sales and profits, potentially reflecting confidence in sustained business expansion.
• Investors should be mindful of the 5-for-1 stock split implemented on October 1, 2025, when comparing per-share metrics and historical data.

• RAVIPA Co., Ltd. (Code: 5893, TOKYO PRO Market) announced on April 30, 2026, a partial correction to its “Notice Regarding Financial Results of Non-Listed Parent Company, etc.”
• This correction addresses an error in the content of the IR document originally published on April 28, 2026.
• The specific section corrected is “2. Shareholder Status by Owner, Major Shareholders, and Officer Status of the Parent Company, etc.,” under “(2) Major Shareholders.”
• The correction involves the address of major shareholder Mr. Osamu Nishiyama, changing from “Before Correction: Kamagawa Ken Yokohama City Minami-ku” to “After Correction: Kanagawa Prefecture Yokohama City Minami-ku.”
• There are no changes to Mr. Osamu Nishiyama’s shareholding (116 shares) or the percentage of total outstanding shares held (58.0%).

This correction addresses a typographical error in the address of a major shareholder of the non-listed parent company, aiming to ensure the accuracy of disclosed information. It is considered a procedural update to reflect correct details. This specific amendment is not expected to have a direct impact on RAVIPA’s financial performance, operational strategy, or fundamental business outlook.

• Japan Investment Adviser Co., Ltd. (JIA) announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1 to March 31, 2026).
• Consolidated net sales reached ¥13,755 million (up 24.8% year-on-year), operating profit was ¥9,270 million (up 32.9% year-on-year), and ordinary profit was ¥8,688 million (up 46.5% year-on-year).
• Net income attributable to owners of the parent increased to ¥6,167 million (up 53.0% year-on-year), with basic earnings per share at ¥101.86.
• By segment, operating lease business sales were ¥12,878 million (up 27.5% year-on-year). Investment product sales amounted to ¥63,947 million (up 66.4% year-on-year), and deal origination volume was ¥102,334 million (up 29.1% year-on-year).
• The capital adequacy ratio at the end of the first quarter improved to 30.8%, up from 25.0% at the end of the previous consolidated fiscal year.

• JIA’s Q1 FY2026 results demonstrate significant year-on-year growth across all key earnings indicators.
• The robust performance of the operating lease business appears to be a major contributor to the overall sales and profit increases.
• The improvement in the capital adequacy ratio could indicate enhanced financial stability for the company.

• For the consolidated fiscal year ended March 31, 2026, Toho Gas reported net sales of JPY 651,085 million (down 0.8% year-on-year). Operating profit was JPY 31,784 million (up 2.9%), ordinary profit was JPY 37,879 million (up 16.9%), and profit attributable to owners of parent was JPY 31,449 million (up 23.6%).
• Diluted earnings per share (EPS) for the period was JPY 83.76, adjusted for the 1-for-4 stock split effective April 1, 2026.
• The annual dividend for the fiscal year ended March 31, 2026, was JPY 90.00 (compared to JPY 80.00 in the previous year). The forecast for the fiscal year ending March 31, 2027, is JPY 22.50 per share, reflecting the stock split.
• The consolidated earnings forecast for the fiscal year ending March 31, 2027, includes net sales of JPY 670,000 million (up 2.9% year-on-year), but anticipates operating profit of JPY 19,000 million (down 40.2%), ordinary profit of JPY 25,000 million (down 34.0%), and profit attributable to owners of parent of JPY 23,000 million (down 26.9%).
• A key factor contributing to the increase in profit for the current fiscal year was the expansion of time-lag profit between raw material costs and sales revenue due to the raw material cost adjustment system.

While net sales showed a slight decline, Toho Gas recorded a significant increase in various profit metrics for FY2026/3, with profit attributable to owners of parent rising over 20%. This performance appears to be primarily driven by an expansion of time-lag profit from the raw material cost adjustment system. However, the company’s forecast for FY2027/3 projects a substantial decrease in profits despite an expected increase in sales, which may warrant close monitoring of the underlying factors influencing this outlook.

• Feed One has announced an upward revision to its consolidated financial forecasts for the fiscal year ending March 2026.
• The revised forecasts are: Revenue JPY 290,000 million (up 0.7% from previous), Operating Profit JPY 8,000 million (up 5.3%), Ordinary Profit JPY 8,600 million (up 6.2%), and Net Profit Attributable to Parent Company Shareholders JPY 6,300 million (up 5.0%).
• The reason for the performance revision is attributed to an improved profitability environment in the livestock and aquaculture feed business, followed by continued strong performance.
• The year-end dividend forecast for the fiscal year ending March 2026 has been revised upward by JPY 3.5 per share, from JPY 21.00 to JPY 24.50.
• This revision is expected to result in a total annual dividend of JPY 45.50 per share for FY2026/3, with a projected consolidated Dividend on Equity (DOE) of 3.1%.

Feed One’s “second” upward revision of its consolidated financial forecasts for the fiscal year ending March 2026 could suggest a sustained favorable business environment in its livestock and aquaculture feed segment. Furthermore, the announced dividend increase, aligning with the company’s progressive dividend policy and 3% DOE target, and resulting in a projected DOE of 3.1%, may be viewed as a strong commitment to shareholder returns. These announcements could draw investor attention as indicators of the company’s financial stability and robust operational performance.

• Taiyo Holdings Co., Ltd. announced its consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 to March 31, 2026).
• For the consolidated operating results, net sales increased by 15.8% year-on-year to ¥137,851 million, operating profit increased by 47.4% to ¥32,529 million, ordinary profit increased by 49.4% to ¥32,244 million, and profit attributable to owners of parent increased by 122.7% to ¥24,011 million.
• The annual dividend for the fiscal year ended March 31, 2026, was ¥165.00 (interim dividend: ¥165.00, year-end dividend: ¥0.00), compared to a total of ¥190.00 in the previous fiscal year.
• The company resolved not to pay a year-end dividend for the fiscal year ended March 31, 2026, and announced plans not to pay interim or year-end dividends for the fiscal year ending March 31, 2027.
• For the fiscal year ending March 31, 2027, the consolidated earnings forecast projects net sales of ¥146,300 million (up 6.1% year-on-year), operating profit of ¥34,300 million (up 5.4%), ordinary profit of ¥33,400 million (up 3.6%), and profit attributable to owners of parent of ¥24,100 million (up 0.4%).

The strong revenue and profit growth reported for FY2026/3 is a notable development. However, the decision to suspend both the FY2026/3 year-end dividend and all dividends for FY2027/3 may suggest a strategic shift in capital allocation or a focus on future investments. Investors may monitor how this change in dividend policy aligns with the company’s projected continued growth in revenue and profit for FY2027/3.

• Lifenet Insurance Company announced on April 30, 2026, the signing of a new capital and business alliance agreement with Japan Airlines Co., Ltd. (JAL).
• The capital alliance with au Financial Holdings Corporation (auFH) will be dissolved, and the business alliance with auFH and KDDI Corporation will be modified.
• auFH has agreed to transfer all of its 14,726,100 common shares of Lifenet Insurance (18.32% of total outstanding shares) to JAL.
• Consequently, JAL is expected to become a major insurance shareholder of Lifenet Insurance, and a secondary offering of the company’s common shares has also been decided.
• The business alliance with JAL aims to jointly develop and sell insurance products utilizing JAL’s brand power, customer base (including approximately 41 million JAL Mileage Bank members), and mileage assets, as well as to establish a sales system for Lifenet Insurance products by the JAL Group.

This alliance is expected to accelerate Lifenet Insurance’s “Embedded” strategy, a key focus in its mid-term plan. Access to JAL’s extensive customer base could generate new customer touchpoints and business opportunities. The change in major shareholders from KDDI Group to JAL Group may also influence the future strategic direction of the company.

• Takara Standard Co., Ltd. announced on April 30, 2026, an increase in year-end dividends for the fiscal year ended March 31, 2026.
• The year-end dividend per share for March 2026 has been set at ¥66.00, an increase of ¥16.00 from the previous forecast of ¥50.00 per share (announced on May 8, 2025).
• Consequently, the projected annual dividend per share will be ¥116.00, representing a ¥38.00 increase compared to the previous fiscal year’s (March 2025) actual dividend of ¥78.00.
• The consolidated dividend payout ratio is expected to be 50.0%. The total dividend amount is ¥4,173 million, with an effective date of June 25, 2026.
• This decision is subject to approval at the 152nd Ordinary General Meeting of Shareholders scheduled for June 2026.

This dividend increase aligns with Takara Standard’s stated shareholder return policy within its “Medium-Term Management Plan 2026,” which prioritizes growth investments, strengthening management foundations, and enhancing shareholder returns while maintaining financial soundness. Specifically, it reflects the “New Shareholder Return Policy and Initiatives for Profit Growth towards Achieving ROE 8%” announced on May 8, 2025. The move may indicate the company’s commitment to returning profits to shareholders and could be viewed as a positive signal regarding its capital allocation strategy.

• For the fiscal year ended March 31, 2026, Mitsui O.S.K. Lines reported consolidated net sales of JPY 1,825,098 million (up 2.8% year-on-year). Operating profit was JPY 127,002 million (down 15.8%), ordinary profit was JPY 175,839 million (down 58.1%), and profit attributable to owners of parent was JPY 213,260 million (down 49.9%).
• Equity in earnings of affiliates amounted to JPY 41,665 million in FY2026, a significant decrease from JPY 262,368 million in the prior fiscal year.
• The annual dividend for FY2026 was JPY 200.00 per share, comprising an interim dividend of JPY 85.00 and a year-end dividend of JPY 115.00 (down from JPY 360.00 in the prior year).
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of JPY 2,040,000 million (up 11.8% year-on-year), operating profit of JPY 105,000 million (down 17.3%), ordinary profit of JPY 145,000 million (down 17.5%), and profit attributable to owners of parent of JPY 170,000 million (down 20.3%).
• The consolidated equity ratio at the end of the fiscal year was 48.2%.

The financial results for FY2026 show a significant decline in profits, particularly ordinary profit and net profit, despite an increase in net sales. This decline appears to be influenced by a substantial reduction in equity in earnings of affiliates compared to the previous year’s high level. The FY2027 forecast indicates a projected increase in sales but further decreases in profits, which may suggest a cautious outlook on the business environment. The reduction in the annual dividend for FY2026 and a modest increase projected for FY2027 could also reflect the company’s adjusted profit expectations.

• Japan Airlines Co., Ltd. (JAL, Code 9201) reported consolidated revenue of ¥2,012,515 million for the fiscal year ended March 31, 2026, marking a 9.1% increase year-on-year.
• Profit attributable to owners of the parent for the same period was ¥144,452 million, an increase of 28.2% compared to the previous fiscal year.
• Basic earnings per share stood at ¥306.96.
• The annual dividend for the fiscal year ended March 31, 2026, was announced as ¥96.00, comprising an interim dividend of ¥46.00 and a year-end dividend of ¥50.00.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated revenue of ¥2,095,000 million (up 4.1% year-on-year), while anticipating profit attributable to owners of the parent to decrease by 20.1% to ¥110,000 million.

The financial results for the fiscal year ended March 31, 2026, demonstrate robust performance with significant increases in both revenue and profit attributable to owners of the parent. However, the forecast for the fiscal year ending March 31, 2027, projects revenue growth alongside a notable decrease in profit attributable to owners of the parent, which may suggest potential headwinds or increased costs. The unchanged dividend forecast of ¥96.00 for the next fiscal year indicates a consistent approach to shareholder returns.

• Nisshoku Kako Co., Ltd. (Code: 2892) announced its consolidated financial results for the fiscal year ended March 2026, reporting net sales of JPY 62,993 million, a 0.5% increase year-on-year, and operating income of JPY 1,251 million, up 4.2% from the previous year.
• However, ordinary income decreased by 18.1% to JPY 1,568 million, and profit attributable to owners of parent declined by 23.5% to JPY 1,168 million.
• The company declared an annual dividend of JPY 145.00 per share, an increase from JPY 95.00 in the prior fiscal year. The forecast for FY2027 is an annual dividend of JPY 150.00.
• For the fiscal year ending March 2027, the consolidated earnings forecast projects net sales of JPY 65,500 million (up 4.0%), operating income of JPY 1,900 million (up 51.8%), and profit attributable to owners of parent of JPY 1,500 million (up 28.3%).
• As of the end of March 2026, the equity ratio improved to 59.6% (from 56.7% at the end of the previous fiscal year), and net assets per share reached JPY 6,235.72 (compared to JPY 5,779.32 previously).

For the reported fiscal year, the company saw an increase in net sales and operating income, yet a decline in both ordinary and net income, which may present a mixed performance picture. The announced dividend increase and the achievement of the DOE target of 2.5% or more could indicate a focus on shareholder returns. The company’s robust outlook for the next fiscal year, particularly the significant projected growth in operating income, will be a key area for investors to monitor.

• R-Sankei RE reported an impairment loss of JPY 4,933 million related to the “Fukuoka Green Building” in its Q14 (FY2026/2) financial results.
• Due to the impairment loss, the investment corporation recorded a net loss of JPY 4,009 million and decided on zero distribution per investment unit, compared to an initial forecast of JPY 2,773/unit.
• A gratuitous capital reduction of JPY 4,009 million, equal to the current period’s unappropriated loss, has been resolved to enable future distributions from Q15 (FY2026/8) onwards. This will not involve refunds or changes in the total number of investment units outstanding.
• Operating revenue for the period was JPY 2,882 million (up 10.3% year-on-year), while operating loss amounted to JPY 3,323 million (down JPY 4,670 million year-on-year).
• A tender offer for R-Sankei RE’s investment units by Tiger Investment Limited Partnership and Lion Investment Limited Partnership has been ongoing since January 7, 2026, with the investment corporation expressing its support and recommendation for application.

The significant impairment loss on a specific property was a primary driver of the reported net loss and zero distribution for the period. The announced capital reduction appears to be a strategic move to reset the financial foundation and facilitate future distributions. Investors may want to consider these developments in light of the ongoing tender offer.

• For the first quarter of the fiscal year ending December 2026 (January 1, 2026, to March 31, 2026), consolidated results show net sales of ¥3,193 million (up 2.9% year-on-year), operating profit of ¥224 million (up 41.0% year-on-year), ordinary profit of ¥226 million (up 46.0% year-on-year), and net income attributable to owners of parent of ¥130 million (up 30.7% year-on-year).
• Diluted earnings per share for the quarter were ¥2.12.
• As of the end of the first quarter, the consolidated financial position indicates total assets of ¥19,394 million, net assets of ¥12,296 million, and an equity ratio of 45.4%.
• The consolidated full-year earnings forecast and the annual dividend forecast for the fiscal year ending December 2026 (totaling ¥2.00) remain unchanged from the most recently announced figures.
• Effective from the current consolidated first quarter, there has been a change in accounting policy regarding the presentation of “cost of sales” in the consolidated statement of income, with prior period figures retrospectively adjusted accordingly.

The company achieved significant year-on-year growth across key profit metrics in the first quarter, with increases exceeding 40%. The IR information indicates that this was contributed by an increase in high-margin storage design and construction-related sales within the Data Solution segment of the Computer Platform business. As the company’s cumulative second-quarter and full-year earnings forecasts remain unrevised, monitoring future progress against these targets could be a key point of interest for investors.

• For the first quarter of the fiscal year ending December 2026, Okura Industrial reported consolidated net sales of ¥24,026 million (up 10.8% year-on-year), operating profit of ¥2,245 million (up 33.8%), ordinary profit of ¥2,215 million (up 31.7%), and net income attributable to owners of parent of ¥1,474 million (up 17.8%).
• During this consolidated cumulative quarter, two companies, Fujiko Co., Ltd. and OKURA VIETNAM CO., LTD., were included in the scope of consolidation.
• The Synthetic Resins business saw net sales increase by 16.9% and operating profit by 24.3%, partly due to the consolidation of Fujiko Co., Ltd. The New Materials business recorded a 4.0% increase in net sales and a 63.2% increase in operating profit, driven by strong performance in optical films for large LCD TVs.
• The Building Materials business experienced a 4.2% decrease in net sales due to customer inventory adjustments and a 36.4% decrease in operating profit due to factors including increased expenses for the launch of the Takase Plant.
• The full-year consolidated earnings forecast and annual dividend forecast for the fiscal year ending December 2026 remain unchanged from the most recently published figures.

The robust year-on-year growth in consolidated net sales and various profit metrics suggests positive impacts from new consolidations and efforts in productivity improvement. The company’s decision to maintain its full-year earnings forecast indicates management’s confidence in achieving its initial targets. While the Synthetic Resins and New Materials segments showed strong performance, the Building Materials segment faced challenges, which may warrant monitoring in future reports.

• Consolidated net sales for the fiscal year ended March 31, 2026, increased by 3.0% year-on-year to ¥720,217 million.
• Operating profit notably rose by 24.2% year-on-year to ¥10,562 million, and ordinary profit increased by 11.6% to ¥12,591 million.
• Net profit attributable to parent company shareholders grew by 0.8% year-on-year to ¥8,273 million.
• Earnings per share reached ¥652.06, and the equity ratio at the end of the period was 43.9%.
• The consolidated earnings forecast and dividend forecast for the fiscal year ending March 31, 2027, have not been disclosed, as the company is scheduled to be delisted following a share demand by Itochu Corporation, as announced on April 28, 2026.

In the current period’s consolidated financial results, the significant double-digit growth in operating profit, alongside a steady increase in net sales, stands out. This could suggest advancements in operational efficiency or profitability improvement initiatives. However, the absence of an earnings and dividend forecast for FY2027, attributed to Itochu Corporation’s share demand and the subsequent planned delisting, indicates a potential shift in the company’s future public information disclosure practices.

• Harima Chemicals Group, Inc. announced its consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026).
• Consolidated net sales for the period reached ¥103,763 million, marking a 2.7% increase compared to the previous fiscal year.
• Consolidated operating profit was ¥3,283 million (up 57.6% year-on-year), and consolidated ordinary profit was ¥2,996 million (up 125.2% year-on-year).
• Profit attributable to owners of parent amounted to ¥2,345 million (up 207.5% year-on-year), with basic earnings per share at ¥96.56.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of ¥110,000 million (up 6.0% year-on-year) and profit attributable to owners of parent of ¥2,650 million (up 13.0% year-on-year).

Harima Chemicals Group’s FY2026 results demonstrate a significant increase in profitability across all profit metrics, despite a more moderate rise in net sales, which may suggest enhanced operational efficiency. The substantial surge in profit attributable to owners of parent, exceeding 200% year-on-year, is particularly noteworthy for investors. The positive outlook for FY2027, projecting continued sales and profit growth, could indicate confidence in their business strategies and market position.

• For the first quarter of the fiscal year ending December 2026, NOVA SYSTEM reported net sales of ¥1,718 million, representing a 2.4% increase year-on-year, and operating profit of ¥121 million, an increase of 26.6% year-on-year.
• Net profit for the period was ¥69 million, a 4.2% decrease year-on-year, primarily due to the recording of ¥22.5 million in extraordinary losses for retirement benefits to officers.
• Progress against the first half plan was strong, with net sales at 50.5% and operating profit at 73.9%, indicating that both revenue and profit are progressing favorably above plan.
• The company made investments in human capital, including the hiring of 26 new graduates (effective April 1) and 15 mid-career professionals (January-April), and opened a new Yodoyabashi office.
• Under its AI growth strategy, sales for AI-themed projects for banks increased by 21.3% quarter-on-quarter. Additionally, the company established a new Management Strategy Department to promote company-wide AI utilization, advancing phases such as infrastructure development, rule formulation, talent development, and operational initiation.

NOVA SYSTEM’s Q1 FY2026 results show solid revenue growth and a significant increase in operating profit, which could suggest effective cost management and project execution. The high operating profit progress against the first-half plan indicates a strong start to the fiscal year.

The concrete progress in AI growth strategies, including increased AI-themed project sales and internal AI utilization initiatives, may suggest the company’s commitment to leveraging AI for future growth and efficiency.

While the reported extraordinary loss impacted net profit, this appears to be a one-off item, and the underlying operational performance remains a key aspect for investors to monitor.

• Kyoei Steel reported consolidated net sales of ¥315,106 million for the fiscal year ended March 31, 2026, marking a 2.4% decrease year-on-year.
• Consolidated operating profit increased by 10.7% to ¥16,967 million, and ordinary profit rose by 3.0% to ¥16,211 million.
• Net profit attributable to owners of parent decreased by 8.6% to ¥9,864 million.
• In the domestic steel business segment, sales were ¥125,527 million (down 12.0% YoY) and operating profit was ¥11,258 million (down 35.2% YoY). The overseas steel business saw improved performance due to strong steel demand and cost reduction efforts in Vietnam, along with robust demand in North America.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of ¥360,000 million (up 14.2% YoY), operating profit of ¥16,000 million (down 5.7% YoY), ordinary profit of ¥14,000 million (down 13.6% YoY), and net profit attributable to owners of parent of ¥9,000 million (down 8.8% YoY). The annual dividend is projected to decrease from ¥90.00 to ¥70.00 per share.

For the fiscal year ended March 2026, Kyoei Steel reported a decrease in revenue, but an increase in consolidated operating and ordinary profits, which appears to be supported by the improved performance of its overseas steel business. While net profit attributable to owners of parent declined, the overseas segment seems to have mitigated the impact of a sluggish domestic steel market. However, the forecast for the fiscal year ending March 2027 indicates an increase in revenue but a decline across all profit metrics, along with a projected reduction in the annual dividend, which investors may find noteworthy.

• For the fiscal year ended March 2026, consolidated revenue was JPY 1,510,704 million, an increase of 0.4% compared to the previous fiscal year.
• Profit attributable to owners of the parent significantly increased by 306.9% year-on-year to JPY 8,143 million.
• Business profit rose by 22.9% to JPY 38,500 million, while operating profit decreased by 4.3% to JPY 28,403 million, and profit before tax decreased by 22.0% to JPY 15,708 million.
• Basic earnings per share were JPY 28.33, up from JPY 6.97 in the prior fiscal year.
• For the fiscal year ending March 2027, the company forecasts consolidated revenue of JPY 1,600,000 million (up 5.9% YoY) and profit attributable to owners of the parent of JPY 12,000 million (up 47.4% YoY).
• The annual dividend for both FY2026/3 and the FY2027/3 forecast is JPY 90.00 per share, with a year-end dividend of JPY 45.00.

LIXIL’s FY2026/3 consolidated results show a substantial increase in profit attributable to owners of the parent, despite a modest rise in revenue. The divergence between business profit growth and declines in operating profit and profit before tax suggests specific expense factors between these levels warranting attention. The company’s forecast for FY2027/3 projects growth in both revenue and profit, indicating a positive outlook for the upcoming period.

• For the fiscal year ended March 2026 (non-consolidated), Takakita Co., Ltd. reported net sales of JPY 6,548 million, marking a 6.6% decrease year-on-year.
• Operating income for the same period was JPY 326 million (down 5.3% year-on-year), and ordinary income was JPY 376 million (down 5.9% year-on-year).
• Net income for the period stood at JPY 205 million, a significant decrease of 63.7% compared to the previous fiscal year.
• The annual dividend for FY2026 March was JPY 10.00 per share, consisting of an interim dividend of JPY 5.00 and a year-end dividend of JPY 5.00.
• For the fiscal year ending March 2027, the company forecasts an increase in net sales to JPY 7,000 million (up 6.9% year-on-year), operating income to JPY 346 million (up 6.0%), ordinary income to JPY 378 million (up 0.5%), and net income to JPY 248 million (up 20.6%).

The fiscal year ended March 2026 saw a decline in both sales and profits, attributed to factors such as reduced demand in the agricultural machinery business and a reaction to gain on sale of investment securities in the previous period.

However, the forecast for FY2027 March indicates an expectation of increased sales and profits across all stages, which could suggest an anticipation of an improving business environment and advancements in in-house production.

The projected maintenance of an annual dividend of JPY 10 per share for two consecutive periods may signal a continued commitment to shareholder returns.

• Ainavo Holdings Co., Ltd. (Code: 7539) announced its consolidated results for the second quarter (interim period) of the fiscal year ending September 2026, reporting net sales of JPY 48,258 million (up 1.7% year-on-year), operating profit of JPY 1,744 million (up 9.5%), ordinary profit of JPY 1,935 million (up 9.3%), and net profit attributable to parent company shareholders of JPY 1,202 million (up 10.9%).
• Interim basic earnings per share stood at JPY 51.75.
• The consolidated earnings forecast for the full fiscal year ending September 2026 remains unchanged, with projected net sales of JPY 98,500 million, operating profit of JPY 2,100 million, ordinary profit of JPY 2,600 million, and net profit attributable to parent company shareholders of JPY 1,600 million, resulting in basic earnings per share of JPY 68.97.
• The annual dividend forecast also remains unrevised at JPY 26.00 per share (JPY 13.00 for the interim period and JPY 13.00 for the year-end).
• Notably, Ueno Tile Co., Ltd. was newly included within the scope of consolidation from this interim period.

The interim consolidated results demonstrate solid performance with year-on-year increases across all key profit metrics. However, the unchanged full-year consolidated earnings forecast, which anticipates a year-on-year decrease in operating profit, ordinary profit, and net profit attributable to parent company shareholders, may warrant investor attention on the company’s performance in the second half. The company has highlighted ongoing challenging market conditions, including a decline in new housing starts and potential impacts from the Middle East situation, making the progress of its growth strategies, such as improving gross profit margins and leveraging M&A, key areas for investors to monitor.

• Itochu Enex announced its consolidated financial results for the fiscal year ended March 31, 2026, reporting revenue of ¥851.235 billion (down 7.9% year-on-year).
• Profit attributable to owners of the parent was ¥16.058 billion, a decrease of 6.1% compared to the previous fiscal year.
• The annual dividend per share for the fiscal year 2026 was set at ¥66, an increase of ¥4 from the previous year, following a change in the year-end dividend to ¥35 per share.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated profit attributable to owners of the parent to be ¥16.500 billion, representing a 2.8% increase from the prior year.
• Cash and cash equivalents at the end of the period increased to ¥21.924 billion from ¥13.931 billion at the end of the previous fiscal year.

While the fiscal year 2026 saw a year-on-year decline in revenue and various profit metrics, the company noted that the profit attributable to owners of the parent met its plan. The declared dividend increase and the projected profit growth for the upcoming fiscal year may suggest the company’s confidence in future performance. Improvements in cash and cash equivalents could also indicate strengthening financial liquidity.

• KOMERI reported consolidated results for the fiscal year ended March 2026, with operating revenue of ¥385,384 million (up 1.6% year-on-year), operating profit of ¥23,055 million (up 2.9% year-on-year), and net profit attributable to owners of parent of ¥14,645 million (up 6.7% year-on-year).
• By product category, “Gardening, Agriculture, & Pet Supplies” contributed the most with sales of ¥116,313 million (up 3.3% year-on-year), followed by “Tools, Hardware, & Work Supplies” with ¥69,840 million (up 1.8% year-on-year).
• During FY2026, the company opened 22 new stores, renovated 142 existing stores, and commenced operations at the new Kansai Distribution Center, investing a total of ¥25,000 million in capital expenditure.
• For the fiscal year ending March 2027, KOMERI projects consolidated operating revenue of ¥400,800 million (up 4.0% year-on-year), operating profit of ¥24,000 million (up 4.1% year-on-year), and net profit attributable to owners of parent of ¥15,000 million (up 2.4% year-on-year).
• The company’s shareholder return policy is based on progressive dividends, with a planned annual dividend of ¥58 (¥29 interim, ¥29 year-end) for FY2027, marking the 11th consecutive year of dividend increases.

KOMERI achieved revenue and profit growth in FY2026, driven by strong performance in its “PRO” format for professionals and agricultural supplies. Continued aggressive investment in new store openings, existing store renovations, and logistics infrastructure may suggest a strategic focus on future business expansion. The plan for an 11th consecutive dividend increase could indicate a strong commitment to shareholder returns.

• For the fiscal year ended March 31, 2026, Hyoki Kaiun reported net sales of ¥13,389 million (down 2.5% year-on-year), operating profit of ¥436 million (down 20.3%), ordinary profit of ¥499 million (down 19.2%), and net profit of ¥397 million (down 8.8%), marking a decrease in both revenue and profit.
• By segment, the shipping business, including domestic and international shipping, saw reduced revenue and profit. In contrast, the port and warehouse business experienced revenue growth due to increased handling of imported food and robust export customs clearance.
• The annual dividend for the fiscal year ended March 31, 2026, was announced at ¥110.00 per share (down ¥5.00 from the previous year).
• The company’s financial position showed total assets of ¥13,042 million and net assets of ¥5,653 million, with the equity ratio improving to 43.3% (from 38.7% in the prior year).
• For the fiscal year ending March 31, 2027, the company forecasts net sales of ¥14,500 million (up 8.3% year-on-year), operating profit of ¥510 million (up 16.8%), ordinary profit of ¥540 million (up 8.0%), and net profit of ¥400 million (up 0.7%), with an annual dividend planned to remain at ¥110.00 per share.

The fiscal year 2026 results show a divergence in performance, with the shipping business facing headwinds like steel demand decline and fuel costs, while the port and warehouse segment performed strongly. Despite the profit decrease, the improvement in the equity ratio suggests a potential strengthening of the company’s financial foundation. The forecast for increased revenue and profit in the upcoming fiscal year, coupled with the plan to maintain the annual dividend, may indicate the company’s confidence in its future business outlook.

• For the first quarter of the fiscal year ending December 2026 (January 1 to March 31, 2026), TRUSCO Nakayama recorded consolidated net sales of ¥86,961 million (up 9.8% year-on-year), operating income of ¥6,000 million (up 2.7%), ordinary income of ¥5,908 million (up 1.6%), and net income attributable to owners of parent of ¥4,105 million (up 2.6%).
• The equity ratio as of the end of the first quarter of FY2026 was 56.2%.
• The forecasted annual dividend for FY2026 is ¥58.50 per share, comprising an interim dividend of ¥30.00 and a year-end dividend of ¥28.50. There are no revisions from the latest announced dividend forecast.
• The consolidated full-year earnings forecast for FY2026 remains unchanged, projecting net sales of ¥341,000 million (up 6.5% year-on-year), operating income of ¥21,720 million (down 4.8%), ordinary income of ¥21,220 million (down 5.9%), and net income attributable to owners of parent of ¥14,540 million (down 8.4%).

While the first quarter saw increased sales and profits, the full-year consolidated earnings forecast projects a decrease in profits. This may be attributed to a rise in the cost of sales ratio and increases in selling, general, and administrative expenses such as freight, packing costs, salaries, and bonuses. Strategic initiatives like “Niawase + U-Choku” (consolidated shipment + direct user delivery) and “MRO Stocker” appear to contribute to sales growth, but the company’s cost management efforts toward achieving its full-year profit targets could be a point of focus for investors.

• Seven Kogyo Co., Ltd. announced its non-consolidated financial results for the fiscal year ended March 31, 2026.
• Net sales for the period were ¥15,589 million, representing a 1.1% increase year-on-year.
• The company reported an operating loss of ¥56 million, an ordinary loss of ¥60 million, and a net loss of ¥127 million, marking a shift from profit to loss compared to the previous fiscal year.
• For the fiscal year ending March 31, 2027, the company forecasts net sales of ¥16,765 million (up 7.5% year-on-year), an operating profit of ¥135 million, an ordinary profit of ¥110 million, and a net profit of ¥45 million, projecting a return to profitability.
• The annual dividend was ¥20.00 (¥10.00 year-end) for both FY2025/3 and FY2026/3, with a forecast to maintain ¥20.00 for FY2027/3.

While net sales increased in the fiscal year ended March 2026, the company recorded losses across operating, ordinary, and net income metrics. This performance may be attributed to factors such as sluggish demand in the core detached housing market, rising material costs, intensified price competition, and upfront investments in facilities. However, the forecast for a return to profitability with increased sales and earnings in the fiscal year ending March 2027 could suggest a positive outlook for future business improvements.

• Kanro 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 results for the first quarter showed net sales of ¥8,710 million, operating profit of ¥1,399 million, ordinary profit of ¥1,407 million, and net income attributable to owners of parent of ¥993 million. Year-on-year growth rates are not provided as consolidated financial statements for the same period in the previous fiscal year were not prepared.
• As of the end of the first quarter, total assets stood at ¥30,573 million, net assets at ¥19,249 million, and the equity ratio was 63.0%.
• The forecast for the annual dividend for the fiscal year ending December 2026 remains unchanged from the most recently announced forecast, set at ¥33.00 per share (interim ¥15.00, year-end ¥18.00). This forecast is adjusted for the 3-for-1 stock split effective July 1, 2025.
• The consolidated earnings forecast for the full fiscal year ending December 2026 remains unchanged from the announcement made on February 13, 2026, projecting net sales of ¥36.5 billion (+5.0% year-on-year), operating profit of ¥4.9 billion (+4.4% year-on-year), ordinary profit of ¥4.9 billion (+3.2% year-on-year), and net income attributable to owners of parent of ¥3.45 billion (+2.1% year-on-year).

• The absence of year-on-year comparison data for the first quarter of the fiscal year ending December 2026, due to this being the first time consolidated financial statements for the period were prepared, may make direct historical performance assessment challenging for investors.
• Despite a decline in demand for throat candies, the company reported increased sales, driven by strong performance in other candy categories, the gummy segment, high-value products like “GummyTzel,” and growing sales from its U.S. subsidiary.
• While fixed costs, including personnel expenses and depreciation from a new core system, increased, these were absorbed by higher sales, suggesting that the company is managing to balance its operational investments with revenue growth.

• NeedsWell Co., Ltd. announced an upward revision to its consolidated earnings forecast for the second quarter (interim period) of the fiscal year ending September 2026, effective April 30, 2026.
• The revised forecast includes revenue of ¥5,206 million (up 0.1% from previous), operating profit of ¥608 million (up 1.5%), ordinary profit of ¥621 million (up 3.6%), and net profit attributable to owners of the parent of ¥406 million (up 1.7%).
• Reasons for the revision include robust performance in solutions and system development, which is expected to result in record-high first-half sales, along with improved project profitability and enhanced productivity.
• While profit items show a decrease compared to the prior year, this is attributed to a change in the timing of recording expenses related to the shareholder benefit program, with a minor impact on full-year performance.
• The full-year consolidated earnings forecast for the fiscal year ending September 2026 remains unchanged at this time, considering potential strategic investments in human resources, R&D, and new businesses to accelerate growth.

NeedsWell’s upward revision for its Q2 FY2026 consolidated earnings forecast suggests a strong performance in its solutions and system development segments. The expectation of record-high first-half sales could be interpreted as an indication of the company’s strengthening core earnings power. However, the decision to keep the full-year forecast unchanged may lead investors to monitor the timing and impact of planned growth investments on future results.

• Nippon Densetsu Kogyo Co., Ltd. resolved at its Board of Directors meeting held on April 30, 2026, to increase the year-end dividend for the fiscal year ended March 31, 2026.
• The per-share dividend for the fiscal year ended March 2026 is planned to be ¥124.00, an increase of ¥9 from the most recent forecast (¥115.00, announced on January 30, 2026). The previous fiscal year’s (March 2025) dividend was ¥90.00.
• The total dividend amount is ¥7,429 million, with the dividend source being retained earnings. The effective date is scheduled for June 29, 2026.
• The company also announced a per-share dividend forecast of ¥127.00 for the next fiscal year ending March 2027, which represents an increase of ¥3 from the planned dividend of ¥124.00 for the current fiscal year.
• This dividend proposal is scheduled to be submitted for approval at the 84th Ordinary General Meeting of Shareholders on June 26, 2026.

Nippon Densetsu Kogyo’s announcement reveals an increase in the year-end dividend for the fiscal year ending March 2026 from the initial forecast, coupled with a further dividend increase projected for the subsequent fiscal year ending March 2027. The company’s policy to consistently provide stable dividends in line with growth, with a target payout ratio of 40%, appears to underpin these decisions. This multi-period upward trend in dividends could be seen as a notable point for investors to consider.

• Acmos Co., Ltd. reported consolidated net sales of JPY 5,698 million for the third quarter of fiscal year 2026 (cumulative period), representing a 17.6% increase year-on-year.
• For the same period, operating profit was JPY 409 million (down 17.2% year-on-year), ordinary profit was JPY 412 million (down 17.3% year-on-year), and net profit attributable to owners of parent was JPY 250 million (down 22.3% year-on-year).
• The primary cause for the decrease in profit was the increase in selling, general and administrative expenses, including personnel costs.
• Acmos acquired 100% of the shares of Systems Service Co., Ltd. (SYS) on January 29, 2026, making it a wholly-owned subsidiary, with an absorption-type merger scheduled for October 1, 2026.
• The consolidated full-year earnings forecast for fiscal year 2026 has been revised, as announced in the “Notice of Revision of Earnings Forecast” published today (April 30, 2026).

While sales increased in this quarter, the rise in operating expenses, particularly personnel costs, appears to have pressured profits. Strategic moves such as the acquisition and planned merger of SYS, alongside an increase in employee numbers, could indicate investments aimed at medium-term business growth. The revision of the full-year earnings forecast suggests adjustments to the company’s outlook, which may be a key point for investors to monitor.

• Misumi Co., Ltd. announced the finalization of the financial results for its parent company, Sankaku Kaihatsu Co., Ltd., for the fiscal year ended January 2026.
• Sankaku Kaihatsu Co., Ltd. operates golf courses and holds 26.2% of Misumi Co., Ltd.’s voting rights as of January 31, 2026.
• For the fiscal year ended January 2026 (February 1, 2025, to January 31, 2026), sales were ¥505,893 thousand, and operating income was an operating loss of △¥29,930 thousand.
• Despite the operating loss, the company recorded ordinary income of ¥70,264 thousand and net income of ¥56,085 thousand, primarily due to non-operating income, including ¥74,686 thousand in dividends received.
• Sankaku Kaihatsu Co., Ltd.’s Representative Director and President, Kosaburo Misumi, also serves as Honorary Chairman of Misumi Co., Ltd., and Director Tsunenori Oka also serves as Representative Director Group CEO of Misumi Co., Ltd.

The financial results of a parent company can offer insights into the broader operational and strategic context for Misumi Co., Ltd. It appears that Sankaku Kaihatsu Co., Ltd. offset an operating loss with substantial non-operating income, particularly dividends received from investment securities, which could suggest a specific financial strategy or asset allocation within the group. The cross-appointment of directors between Misumi and its parent company also implies a close management relationship, which investors might consider when evaluating the overall governance and strategic alignment.

• Hokkaido Gas Co., Ltd. has announced an upward revision to its year-end dividend forecast for the record date of March 31, 2026.
• The year-end dividend forecast has been revised to JPY 13.00 per share, an increase of JPY 1.50 from the previous forecast of JPY 11.50 per share.
• This revision results in an anticipated annual dividend of JPY 24.50 per share for the fiscal year ending March 2026 (comprising the H1 actual dividend of JPY 11.50 and the revised year-end forecast of JPY 13.00).
• The company states the reason for the revision is solid business performance, including expanded sales volumes, aligning with its dividend policy of progressive dividends and a target DOE (Dividend on Equity) of 2.5%.
• This matter is scheduled to be decided at the Board of Directors meeting expected to be held on May 25, 2026, following audits by the company’s accounting auditors and Audit & Supervisory Board.

This upward revision of the year-end dividend forecast may suggest Hokkaido Gas’s commitment to shareholder returns, supported by its strong operational performance and clear dividend policy targeting a 2.5% DOE. The company’s adherence to a progressive dividend approach, alongside robust business trends, could be a key factor for investors to consider. It is worth monitoring how this revised dividend aligns with the company’s future financial outlook and capital allocation strategies.

• Titan Kogyo Co., Ltd. announced the expected recognition of deferred tax assets for the fiscal year ending March 2026, projecting an adjustment of △JPY 34 million in income taxes.
• The company revised its consolidated full-year financial forecast for the fiscal year ending March 31, 2026, raising the net profit attributable to owners of parent from JPY 100 million to JPY 200 million, representing a 100.0% increase.
• Operating profit for the same period was revised upwards from JPY 240 million to JPY 290 million, and ordinary profit from JPY 170 million to JPY 240 million.
• Net sales were revised downwards from JPY 8,700 million to JPY 8,100 million (a △6.9% decrease) due to sluggish shipments in titanium oxide-related and iron oxide-related businesses.
• The year-end dividend forecast for the fiscal year ending March 31, 2026, was revised upwards from JPY 10.00 to JPY 12.00 per share, with the annual dividend expected to be the same amount.

The recognition of deferred tax assets and thorough cost reductions appear to be key factors contributing to the significant upward revision of net profit and increased dividend, despite a downward revision in net sales. This may suggest that the company has improved its profitability through internal efforts separate from sales volume. The revised dividend forecast could indicate management’s confidence in the company’s financial standing and future business developments, balanced with its stable dividend policy.

• Nicca Chemical Co., Ltd. reported consolidated results for the first quarter of the fiscal year ending December 2026, with net sales of ¥15,017 million (up 13.8% year-on-year), operating income of ¥1,159 million (up 35.4%), and ordinary income of ¥1,176 million (up 46.2%).
• Net income attributable to owners of parent significantly increased by 214.0% year-on-year to ¥919 million, with basic earnings per share at ¥57.78.
• In the Chemicals segment, sales rose by 18.5% to ¥11,530 million, and segment profit increased by 39.0% to ¥1,499 million, marking record-high sales, segment profit, and segment profit margin for a first quarter.
• The Cosmetics segment recorded a slight decrease in sales by 0.4% to ¥3,287 million and a decrease in segment profit by 28.5% to ¥187 million.
• The full-year consolidated earnings forecast for the fiscal year ending December 2026 remains unchanged, projecting net sales of ¥58,500 million, operating income of ¥4,200 million, ordinary income of ¥4,050 million, and net income attributable to owners of parent of ¥2,800 million. The annual dividend forecast is also unchanged at ¥70.00 per share.

The significant year-on-year increases in net sales and various profit metrics for Q1 FY2026, especially the substantial surge in net income attributable to owners of parent, appear to be primarily driven by the robust performance of the Chemicals segment. While the full-year forecast remains consistent with previous announcements, investors may closely monitor if the company can sustain this strong momentum throughout the subsequent quarters. The diverging performance between the Chemicals and Cosmetics segments could also be a point of interest for market participants.

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

• AIAI Group Corporation announced on April 30, 2026, an upward revision to its consolidated earnings forecast for the full fiscal year ending March 31, 2026 (April 1, 2025, to March 31, 2026).
• The newly announced forecast projects net sales of JPY 14.6 billion, EBITDA of JPY 1.78 billion, operating profit of JPY 1.1 billion, ordinary profit of JPY 930 million, and profit attributable to owners of parent of JPY 620 million.
• Compared to the previous forecast (announced on January 30, 2026), net sales are up 1.4%, EBITDA up 22.8%, operating profit up 46.7%, ordinary profit up 55.0%, and profit attributable to owners of parent up 24.0%.
• The reasons for the upward revision include an improved acquisition rate of local government subsidies, the impact of year-end adjustments for operational consignment subsidies, and increased child enrollment due to new facilities and business acquisitions.
• The increased net sales from these factors are expected to absorb rising costs, such as those for promoting improved childcare worker benefits and M&A expenses for expanding the “AIAI Sanku-ken” initiative, leading to higher profit figures.

The significant increase in profit figures, particularly a 46.7% rise in operating profit and a 55.0% rise in ordinary profit, despite a more modest 1.4% increase in net sales, may suggest an improvement in profitability or effective cost management. This performance could indicate that the company’s growth strategies, including new facility openings and business acquisitions, are translating into enhanced financial results. Investors might find it worthwhile to monitor the sustainability of these factors in future reports.

• G-Birdman Co., Ltd. resolved on April 30, 2026, at its Board of Directors meeting, to enter into a business alliance with Pylon Technologies Japan Inc., including a distributorship agreement, and to commence a new business.
• Through this alliance, G-Birdman will become a domestic distributor for Pylon Technologies Japan Inc., acquiring reselling rights for their battery storage products (industrial and residential) in Japan.
• Pylon Technologies Japan Inc. is the Japanese subsidiary of Pylon Technologies Co., Ltd., which ranked #1 globally in household battery energy storage system (BESS) shipments in 2022 (S&P Global Commodity Insights survey).
• G-Birdman states that this partnership will establish a “vertically integrated model for energy solutions business,” covering “energy creation,” “provision of storage devices,” and “optimization of operations,” aiming to secure a robust revenue structure.
• The new business is scheduled to commence on May 1, 2026. While the impact on consolidated performance for the fiscal year ending June 2026 is expected to be minor, it is projected to contribute significantly to mid-to-long term performance growth from the fiscal year ending June 2027 onwards.

• For G-Birdman, which has positioned renewable energy as a core growth strategy, this alliance with a globally leading battery storage system supplier like Pylontech Japan could significantly enhance its business competitiveness.
• The establishment of a “vertically integrated model for energy solutions business” may be a strategic initiative to secure a robust revenue structure amidst market shifts, such as the transition to the FIP scheme and the expansion of the electricity supply-demand adjustment market.
• As the alliance is expected to contribute significantly to performance from the fiscal year ending June 2027, the long-term impact on the company’s growth and earnings will be worth monitoring.

• CYBERDYNE Inc. announced its shareholder benefit program for fiscal year 2026 on April 30, 2026.
• The updated program introduces a new “First-time Benefit,” offering shareholders holding 10 or more units one free trial of the HAL Lumbar Type Short-term Program. This can be combined with either the “A Course” or “B Course.”
• The “A Course” provides discounts on the Neuro HALFIT Personal Rental Program (3 months or more), while the “B Course” offers percentage discounts on the Neuro HALFIT One-on-One Program (10 sessions), varying by shareholding.
• The benefits are applicable to shareholders registered as of March 31, 2026, and will be valid from June 2026 through the end of May 2027.

This revision to the shareholder benefit program may suggest CYBERDYNE’s commitment to both shareholder returns and its corporate philosophy of contributing to “Good Health and Well-Being,” one of the UN SDGs. The introduction of the “First-time Benefit” could also serve to broaden awareness and encourage wider adoption of the Neuro HALFIT program, potentially expanding its user base. Investors may view this as an initiative that aligns corporate social responsibility with business strategy.

• F-pico Co., Ltd. (Code: 7947) announced on April 30, 2026, that its Board of Directors resolved to revise the year-end dividend forecast for the fiscal year ending March 2026.
• The year-end dividend forecast for the fiscal year ending March 31, 2026, has been revised upwards by JPY 1.50 per share, from JPY 40.00 to JPY 41.50.
• This revision results in an adjusted total annual dividend forecast of JPY 73.00 per share, up from the previous JPY 71.50.
• The revision is attributed to net profit attributable to parent company exceeding initial business forecasts, in line with the company’s progressive dividend policy targeting a consolidated payout ratio of 40%. The revised estimated consolidated payout ratio is 39.7%.

This dividend increase aligns with the company’s stated progressive dividend policy, which targets a consolidated payout ratio of 40%. The fact that net profit attributable to the parent company exceeded forecasts may suggest a stronger-than-expected financial performance for the period.

• Consolidated revenue for the fiscal year ended March 31, 2026, totaled 11,561,935 million yen, marking a 12.1% increase year-on-year.
• Profit attributable to owners of the parent reached 370,516 million yen, up 2.2% from the previous fiscal year.
• The annual dividend for FY2026 was set at 120.00 yen per share (58.00 yen interim, 62.00 yen year-end), an increase from 105.00 yen in the prior year.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated profit attributable to owners of the parent to be 400,000 million yen (an 8.0% increase year-on-year) and an annual dividend of 125.00 yen per share (62.00 yen interim, 63.00 yen year-end).
• Non-consolidated net profit for FY2026 was 463,767 million yen, a 69.7% increase year-on-year, primarily due to a 263,777 million yen increase in gain on sale of investment securities and equity interests, resulting from the sale of all ordinary shares of Toyota Industries Corporation owned by the company.

Toyota Tsusho’s FY2026 consolidated financial results indicate growth in both revenue and profit attributable to owners of the parent, suggesting a general expansion in business activities. The increase in the annual dividend and the forecast for further growth in both profit and dividend for FY2027 may reflect the company’s commitment to shareholder returns and its outlook on future earnings. The substantial rise in non-consolidated net profit can be attributed to the contribution of a specific asset sale during the period.

• Uematsu Shohkai announced its non-consolidated financial results for the fiscal year ended March 2026, reporting net sales of JPY 6,631 million, a 5.2% increase year-on-year.
• Operating profit surged by 93.5% to JPY 85 million, ordinary profit increased by 29.1% to JPY 182 million, and net income rose by 44.0% to JPY 124 million, indicating substantial profit growth.
• The self-capital ratio improved from 61.8% at the end of the previous fiscal year to 67.7%, with earnings per share reaching JPY 55.35.
• By product category, sales of “Industrial Machinery” increased by 8.4% and “Tools” by 4.6%, while “Machines” saw an 11.7% decrease.
• For the fiscal year ending March 2027, the company forecasts net sales of JPY 6,800 million (up 2.5% year-on-year) and net income of JPY 113 million (down 8.9% year-on-year). An annual dividend of JPY 32.50 per share is planned.

The significant increase in profits for FY2026 appears to be driven by higher net sales, effective cost control, and the recording of gains from the sale of investment securities. The notable improvement in the self-capital ratio suggests a strengthening of the company’s financial health. However, while the forecast for FY2027 anticipates continued revenue growth, the projected decline in net income may be a point of interest for investors to monitor for further details regarding its underlying factors.

• G-Ureru Net Advertising Group Co.,Ltd. has completed the acquisition of “ADWAYS CHINA” and “ADWAYS ASIA” from Adways Inc. (TYO: 2489).
• The acquired businesses reported an annual transaction volume of ¥3.3 billion and a net profit of ¥7 million for the fiscal year ending December 2025.
• This M&A provides the company with a strategic foothold for full-scale entry into the world’s largest EC and SNS market in China, immediately gaining a business foundation with an annual transaction volume of approximately ¥3.3 billion.
• The acquired businesses offer solutions in app marketing, brand advertising support, and live commerce/EC.
• The company aims to achieve consolidated sales of ¥10 billion and a market capitalization of over ¥25 billion by 2028, with a plan to execute continuous strategic M&As of comparable scale.

This acquisition positions G-Ureru Net Advertising Group for significant global expansion beyond the domestic market, particularly into China’s vast digital advertising and e-commerce landscape. The immediate acquisition of a profitable business unit suggests a strategy to secure instant revenue contribution and diversify its service portfolio. Investors may view this as a concrete step towards achieving the company’s ambitious mid-term financial targets, including the ¥10 billion sales and ¥25 billion market capitalization goals by 2028.

• GMO Financial Holdings reported record quarterly performance for Q1 FY2026 (January 1 – March 31, 2026), with operating revenue reaching ¥16.23 billion and operating profit ¥6.46 billion.
• Operating profit increased by 53.1% year-on-year, and the operating profit margin improved to 39.8% (+7.3 percentage points YoY).
• CFD (Contracts For Difference) revenue expanded 3.5 times year-on-year to ¥6.40 billion, becoming the primary driver of overall performance, particularly due to increased trading volume in high-profit commodity CFDs like gold, silver, and crude oil.
• The company completed the acquisition of LASHIC Small Amount Short Term Insurance Co., Ltd. on March 27, 2026, marking a full-scale entry into the small amount short term insurance business.
• Shareholder return policy was strengthened with the introduction of a dividend payout ratio of 65% or more and a minimum DOE (Dividend on Equity) indicator of 10%. Consequently, the full-year dividend forecast for FY2026 was raised from ¥42.08 to ¥54.76, resulting in a Q1 dividend per share of ¥13.69.

The record-breaking first-quarter results appear to be primarily driven by the significant surge in CFD business revenue. The strong activity in highly profitable commodity CFD trading seems to have substantially contributed to the overall improvement in profit margins. The enhanced dividend policy and upward revision of the dividend forecast could be interpreted as a strong commitment to shareholder returns. The entry into the small amount short term insurance business with LASHIC may signal efforts to diversify the company’s business portfolio.

• Axyz Co., Ltd. has announced its consolidated financial results for the third quarter of the fiscal year ending June 2026 (July 1, 2025 – March 31, 2026).
• Consolidated operating results show net sales of ¥21,827 million (up 11.8% year-on-year), operating profit of ¥2,895 million (up 122.0%), ordinary profit of ¥3,019 million (up 129.5%), and net profit attributable to parent company shareholders of ¥2,099 million (up 82.0%).
• By segment, the Food Business reported net sales of ¥18,337 million (up 12.8%) and segment profit of ¥2,394 million (up 209.6%). In contrast, the Restaurant Business recorded net sales of ¥3,127 million (up 7.0%) but segment profit decreased to ¥226 million (down 16.2%).
• The consolidated financial position indicates total assets of ¥26,946 million and net assets of ¥23,283 million, with an equity ratio of 86.4%.
• The full-year consolidated earnings forecast for the fiscal year ending June 2026 has been revised, projecting net sales of ¥28,800 million (up 9.0% year-on-year), operating profit of ¥3,400 million (up 60.3%), ordinary profit of ¥3,500 million (up 61.2%), and net profit attributable to parent company shareholders of ¥2,400 million (up 39.5%).

The current quarter’s consolidated performance reflects significant growth in both net sales and profits compared to the previous year, primarily driven by the strong performance of the Food Business segment. The robust results in the Food Business may suggest favorable sales to key customers, a steady poultry market, operational efficiency improvements, cost reductions, and lower breeding costs. Conversely, while the Restaurant Business saw increased sales, its segment profit declined, which could be attributed to upfront costs associated with new store openings and rising raw material and labor costs.

• For the consolidated fiscal year ended March 31, 2026, NIHON M&A Center Holdings (2127) reported record-high figures: net sales of ¥50,257 million (up 14.0% year-on-year), operating profit of ¥18,761 million (up 12.2%), ordinary profit of ¥19,154 million (up 13.2%), and profit attributable to owners of parent of ¥12,487 million (up 14.0%).
• The annual dividend per share for FY2026 is ¥29.00 (ordinary dividend ¥23, special dividend ¥6). The forecast for FY2027 is also ¥29.00 (ordinary dividend ¥25, special dividend ¥4).
• The consolidated earnings forecast for FY2027 includes net sales of ¥52,800 million (up 5.1% year-on-year), operating profit of ¥19,300 million (up 2.9%), ordinary profit of ¥19,300 million (up 0.8%), and profit attributable to owners of parent of ¥13,400 million (up 7.3%).
• The number of M&A deals closed in the current fiscal year was 1,061 (down 17 from the previous year), but M&A sales per deal increased to ¥45.7 million. The ordinary profit margin was maintained at 38.1%.
• The company has shifted its strategy for newly accepted sell-side deals from quantity expansion to prioritizing “likelihood of success” and “accountability to clients.”

• The achievement of record-high earnings may indicate the company’s successful navigation through a recovery phase following past issues and its transition to what it terms a “second founding” growth stage.
• Despite a decrease in the number of closed deals, the increase in M&A sales per deal and the sustained high ordinary profit margin could suggest that the focus on mid-cap transactions is yielding positive results.
• The company’s forecast for continued sales and profit growth in the next fiscal year, coupled with the maintenance of its annual dividend (including special dividends), may be viewed as a commitment to shareholder returns.

• Nakamuraya Co., Ltd. resolved to change its shareholder benefit program at a Board of Directors meeting held on April 30, 2026.
• The purpose of the change is to enhance the investment appeal of the company’s shares, encourage more shareholders to hold them medium-to-long-term, and to coincide with the 100th anniversaries of the Shinjuku Nakamuraya Honten Tea Room opening and product launches in 2027.
• A new long-term holding benefit will be introduced, offering a 3,000 yen shopping/dining voucher usable at Shinjuku Nakamuraya Honten for shareholders continuously holding 100 shares or more for 5 years (and every 5 years thereafter).
• For the existing shareholder benefit program, the eligibility criteria will be changed to “shareholders who have continuously held 100 shares or more for at least one year.”
• These changes will be implemented starting with the benefits based on the record date of March 31, 2027, with transitional measures also put in place.

This revision may suggest a strategic move to encourage more stable and long-term shareholding. The introduction of new benefits specifically for long-term shareholders appears designed to foster a loyal shareholder base. Additionally, aligning these changes with the company’s 2027 centenary events could indicate an effort to strengthen corporate branding through its shareholder relations.

• Tohokushinsha Co. announced the completion of its share acquisition of Graniph Inc. on April 30, 2026.
• As a result of this acquisition, Graniph has become a wholly-owned subsidiary of Tohokushinsha.
• Tohokushinsha acquired 19,772,900 shares of Graniph, representing 100% of the voting rights.
• Graniph’s business activities include the planning, manufacturing, and sales of design products.
• Graniph’s consolidated net sales increased from JPY 10,951 million in the fiscal year ended June 2023 to JPY 13,447 million in the fiscal year ended June 2025, but its consolidated net income has been negative for the past three consecutive periods.

This acquisition appears to be a strategic move by Tohokushinsha to expand its business domain into the design product sector. While Graniph has demonstrated revenue growth, its consolidated net income has remained in the red for the last three fiscal periods, which may suggest that operational integration and profitability improvements will be key focuses post-acquisition. Investors may closely monitor further disclosures regarding the impact on Tohokushinsha’s consolidated financial results for the fiscal year ending March 2027, which are currently under assessment.

• For the first quarter of fiscal year 2026 (January 1 to March 31, 2026), consolidated revenue increased by 3.6% year-on-year to JPY 196,521 million.
• Business loss significantly narrowed to JPY 2,678 million (vs. JPY 6,498 million loss in prior year period), operating loss narrowed to JPY 240 million (vs. JPY 10,069 million loss in prior year period), and loss attributable to owners of the parent narrowed to JPY 922 million (vs. JPY 6,454 million loss in prior year period).
• The consolidated full-year earnings forecast and the annual dividend forecast of JPY 72.00 for fiscal year 2026 remain unchanged from the most recently announced figures.
• Sales volume increased by 4.0% year-on-year in Q1, with price revisions leading to improved unit sales prices, contributing to the revenue growth.
• The improvement in operating profit was attributed not only to the reduced business loss but also to a JPY 4,808 million gain on the sale of tangible fixed assets, achieved through balance sheet optimization.
• An accounting policy change involved a review of the useful lives of manufacturing machinery and equipment, resulting in a decrease in depreciation expenses.

The financial results show notable top-line growth and a significant reduction in losses. Increased sales volume and the impact of price revisions appear to have driven revenue, while cost reduction efforts and gains from asset sales likely contributed to the profit improvement. With the full-year forecast maintained, the company’s future performance may be a key focus for investors.

• For the second quarter of the fiscal year ending September 2026 (interim period), Shinozakiya reported consolidated net sales of ¥1,656 million (up 8.7% year-on-year), operating income of ¥70 million (up 19.4%), ordinary income of ¥73 million (up 18.4%), and interim net income of ¥66 million (up 67.8%).
• The core retail segment posted sales of ¥1,498 million (up 10.1% year-on-year) and segment profit of ¥134 million (up 3.6%). The average customer count per store increased by 2.6% and the number of items purchased per customer increased by 1.6% compared to the prior-year period.
• As of the end of the interim period, total assets stood at ¥1,493 million (up ¥128 million from the end of the previous fiscal year), and net assets were ¥1,115 million (up ¥66 million), with an equity ratio of 74.7%.
• Cash flow from operating activities resulted in an inflow of ¥121 million, compared to an inflow of ¥111 million in the same period last year.
• The company has not disclosed its full-year earnings forecast for the fiscal year ending September 2026, citing difficulties in prediction due to external factors such as weather.

Shinozakiya’s interim results for the fiscal year ending September 2026 show strong growth across net sales and all profit metrics compared to the previous year. The retail segment, which focused on securing customer numbers amid rising prices, appears to have been a key driver of this overall revenue and profit increase, supported by higher customer traffic and purchase volumes. However, the absence of a full-year earnings forecast at this point may suggest a degree of caution regarding future prospects, making subsequent disclosures noteworthy for investors.

• Skylark Holdings Co., Ltd. announced on April 30, 2026, the completion of its acquisition of all shares in Shinpachi Co., Ltd., following the announcement on March 24, 2026.
• As a result, Shinpachi Co., Ltd., which operates Japanese chain restaurants, has become a wholly-owned subsidiary of Skylark Holdings.
• Shinpachi Co., Ltd. is headquartered in Tokyo, with a capital of JPY 100 million, and was established on November 20, 2017 (founded on June 20, 2005).
• Skylark Holdings stated that there are no matters to disclose regarding the impact of this acquisition on its consolidated financial results for the current fiscal year at this time.

This acquisition may suggest Skylark Holdings’ strategic move to strengthen its presence in the Japanese restaurant chain sector. It could potentially lead to synergies with existing operations and an expansion into new customer segments. Investors may monitor future disclosures regarding the integration of Shinpachi and its contribution to Skylark Holdings’ overall business portfolio.

• Azoom Co., Ltd. announced its consolidated financial results for the second quarter (interim period) of the fiscal year ending September 2026 on April 30, 2026.
• Consolidated cumulative results show net sales of ¥7,806 million (up 23.5% year-on-year), operating profit of ¥1,385 million (up 19.9% year-on-year), ordinary profit of ¥1,382 million (up 19.6% year-on-year), and net profit attributable to owners of parent of ¥995 million (up 30.9% year-on-year).
• Diluted earnings per share for the interim period were ¥81.06, calculated considering the 2-for-1 stock split implemented on October 1, 2025.
• The full-year consolidated earnings forecast remains unchanged from the most recently published forecast, projecting net sales of ¥17,000 million, operating profit of ¥3,150 million, ordinary profit of ¥3,140 million, and net profit attributable to owners of parent of ¥2,200 million.
• The idle asset utilization business, a primary segment, reported net sales of ¥7,672,062 thousand (up 23.6% year-on-year) and segment profit of ¥1,369,106 thousand (up 18.0% year-on-year). Key performance indicators for this segment included 228,414 parking inquiries, 39,886 master lease contracts, and 37,283 sub-lease contracts.

Azoom reported robust growth in net sales and profits for the first half of the fiscal year ending September 2026, surpassing previous interim period results. The strong performance of its core idle asset utilization business, particularly in monthly parking space services, appears to be a key driver for these positive outcomes. The company’s decision to maintain its full-year guidance suggests that current results align with its internal projections.

• V-cube, Inc. has restated a part of its “Consolidated Financial Results for the Fiscal Year Ended December 31, 2025 [J-GAAP]” originally disclosed on March 31, 2026.
• The primary reason for the restatement is the recording of ¥808,434 thousand (USD 5.4M) in unidentified expenses as a special loss. These expenses were paid by the consolidated subsidiary TEN as remuneration for post-listing capital policy services related to its NASDAQ listing in February 2025, but the recipients and actual provision of services could not be confirmed.
• As ¥376,057 thousand of these unidentified expenses were initially recorded as operating expenses, the consolidated operating profit has been revised from ¥△2,059,100 thousand to ¥△1,683,043 thousand.
• Consequently, other financial figures have also been restated, including consolidated ordinary profit to ¥△2,026 million and profit attributable to owners of parent to ¥△3,696 million.
• The restatement also incorporates the content of the “Notice Regarding Disclosure of Material Weakness in Internal Controls Over Financial Reporting” dated April 30, 2026.

This restatement, particularly the recognition of unidentified expenses as a special loss, is considered to have impacted key financial metrics including consolidated operating profit. The concurrent disclosure of material weakness in internal controls over financial reporting may raise questions regarding the company’s governance structure. Investors might closely monitor how these developments affect future performance and corporate operations.

• G-Fisco Inc. announced on April 30, 2026, the finalized financial results for the fiscal year ended January 2026 of its non-listed parent company, Seekedge Japan Holdings Co., Ltd.
• Seekedge Japan Holdings, an investment company, is the parent company of JN Group Inc., which holds 31.00% of G-Fisco’s voting rights as of December 31, 2025.
• For the fiscal year ended January 31, 2026 (February 1, 2025, to January 31, 2026), Seekedge Japan Holdings reported consolidated sales of JPY 424,297 thousand, operating income of JPY 357,837 thousand, ordinary income of JPY 356,003 thousand, and net income of JPY 798,671 thousand.
• As of January 31, 2026, the company’s consolidated balance sheet showed total assets of JPY 15,406,844 thousand, total liabilities of JPY 1,260,330 thousand, and total net assets of JPY 14,146,513 thousand.
• Mr. Kazunari Shirai is the major shareholder, owning 100.00% of the outstanding shares of Seekedge Japan Holdings as of January 31, 2026.

The disclosure of financial results by non-listed parent companies can be a crucial source of information for understanding the business environment and decision-making context of their listed subsidiaries. This announcement sheds light on the financial standing of Seekedge Japan Holdings, which indirectly influences G-Fisco. The parent company’s engagement in investment activities and its reported net income for the period may be noteworthy for investors evaluating the broader group strategy.

• Avant Group reported consolidated net sales of JPY 22,828 million for the third quarter of fiscal year 2026 (July 1, 2025 – March 31, 2026), marking a 9.0% increase year-over-year.
• During the same period, operating profit reached JPY 4,072 million (up 12.3% YoY), and net profit attributable to owners of the parent was JPY 2,542 million (up 12.0% YoY).
• The Financial Closing Disclosure Business segment generated sales of JPY 7,141 million (+16.3% YoY), while the Digital Transformation Promotion Business segment posted sales of JPY 8,457 million (+9.4% YoY).
• The full-year consolidated performance forecast and the year-end dividend forecast of JPY 32.00 per share for the fiscal year ending June 2026 remain unchanged from previously announced figures.
• The company announced the cancellation of 1,636,300 shares of its treasury stock on March 31, 2026.

– The consolidated financial results for the third quarter indicate robust performance, driven by growth in key business segments, particularly in financial closing disclosure and digital transformation.

– The decision to maintain the full-year earnings and dividend forecasts suggests the company’s confidence in its current trajectory and future outlook.

– The cancellation of treasury stock could be viewed as a measure aimed at enhancing shareholder value and improving capital efficiency.

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

• Benefit Japan Co., Ltd. has revised its full-year consolidated financial forecast for the fiscal year ending March 2026 upward.
• The revised consolidated full-year forecast includes net sales of 18,393 million yen (up 7.9% from the previous forecast), operating profit of 1,482 million yen (up 1.9%), ordinary profit of 1,520 million yen (up 11.3%), and profit attributable to owners of parent of 995 million yen (up 8.0%).
• The reason for the earnings forecast revision is attributed to new customer acquisitions in the internet communication service business exceeding initial expectations, improved profitability in the robot business, and solid performance in the reuse business.
• The year-end dividend forecast for the fiscal year ending March 2026 has also been revised, increasing the per-share dividend by 6 yen from the previously announced 79 yen to 85 yen.
• The dividend forecast revision was made in accordance with the company’s shareholder return policy, which prioritizes capital efficiency (targeting an ROE of 15%) and a payout ratio guideline (of 50%), following the increase in profit attributable to owners of parent due to the upward revision of the earnings forecast.

The upward revision of the earnings forecast may suggest that multiple business segments, including the core internet communication service business, as well as the robot and reuse businesses, are contributing to improved profitability. The announced dividend increase could indicate the company’s commitment to its shareholder return policy, linking strong performance to shareholder returns, which might be a point of interest for investors. This responsive action aligns with the company’s stated goals for capital efficiency and payout ratio, reflecting progress in its business operations.

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

• Quick Co., Ltd. has declared a year-end dividend of JPY 21 per share for the fiscal year ending March 31, 2026. This represents an increase of JPY 3 from the latest dividend forecast of JPY 18.
• The company will revise its shareholder return policy starting from the fiscal year ending March 31, 2027, adopting a “minimum dividend” policy with a base annual dividend of JPY 38 (equivalent to JPY 114 in pre-stock split terms).
• For the three fiscal years from March 2027 to March 2029, the company’s policy is to adopt either the minimum annual dividend of JPY 38 or a payout ratio of 70%, whichever is higher.
• As part of its agile capital policy, the company plans to acquire treasury shares, targeting JPY 1 billion in the fiscal year ending March 2027 and a cumulative total of JPY 3 billion or more over the three fiscal years up to March 2029.
• For the fiscal year ending March 2027, the total shareholder return ratio, encompassing the forecasted annual dividend of JPY 38 and treasury share acquisitions, is expected to exceed 100%.

• This announcement includes both an immediate increase in the year-end dividend and a clear outline of the revised shareholder return policy effective from the fiscal year ending March 2027.
• The introduction of a minimum dividend, a payout ratio target for a defined period, and planned treasury share acquisitions may indicate a strengthened commitment to enhancing shareholder returns.
• These changes appear to be part of the company’s broader efforts to improve capital efficiency and enhance long-term corporate value.

• Aisan Technology Co., Ltd. announced on April 30, 2026, that the disclosure of its financial results for the fiscal year ended March 31, 2026, is expected to exceed 50 days after the fiscal year-end.
• The company had initially planned to disclose these results by May 15, 2026.
• The delay stems from the ongoing investigation by a special investigation committee concerning alleged improper transactions and fraudulent activities at the Marketing Center of Yukisoku Co., Ltd., a wholly-owned consolidated subsidiary, which the company recognized on April 3, 2026.
• The delay is attributed to the time required for the special investigation committee’s probe and the audit firm’s assessment of the impact on the financial statements.
• The new disclosure date for the FY2026/3 financial results is currently undetermined, and will be announced promptly once decided.

• A delay in financial results disclosure often leads to increased scrutiny from investors regarding corporate governance and internal control mechanisms.
• Given that the delay is explicitly linked to alleged improper transactions at a consolidated subsidiary, the findings of the special investigation committee will likely be a key focus for stakeholders.
• The possibility of restatements for past financial statements is also mentioned, suggesting that the scope and financial impact of these allegations could be significant and warrant close monitoring.

• For the first quarter of fiscal year 2026 (January 1 to March 31, 2026), Otsuka Shokai reported consolidated net sales of JPY 344,753 million (up 9.3% year-on-year), operating profit of JPY 23,505 million (up 11.0% YoY), ordinary profit of JPY 24,312 million (up 11.3% YoY), and net profit attributable to parent company shareholders of JPY 16,688 million (up 15.2% YoY).
• These results mark the fourth consecutive year of record-high performance for the first quarter across net sales and all profit categories.
• By business segment, the System Integration business recorded sales of JPY 235,097 million (up 9.9% YoY), and the Service & Support business reported sales of JPY 109,656 million (up 8.0% YoY).
• The full-year consolidated earnings forecast for fiscal year 2026 (ending December 2026) remains unchanged, projecting net sales of JPY 1,311,000 million (down 0.9% from the previous fiscal year) and net profit attributable to parent company shareholders of JPY 61,130 million (down 4.9% from the previous fiscal year).
• As of the end of the first quarter of fiscal year 2026, total assets amounted to JPY 749,489 million, net assets to JPY 397,614 million, and the equity ratio was 52.3%.

While the first quarter delivered strong year-on-year growth and record-high performance, the unchanged full-year forecast, which anticipates a slight decline in net sales and net profit attributable to parent company shareholders, may prompt investors to monitor subsequent quarters closely. The robust demand for corporate IT investment in Japan appears to have been a key driver for the revenue growth observed in both the System Integration and Service & Support segments. The company’s focus on “AI and security” aligns with these market trends.

• For the first quarter of fiscal year 2026 (ended March 31, 2026), consolidated net sales amounted to ¥75,101 million, a 0.3% increase year-on-year.
• Operating profit declined by 17.9% to ¥6,481 million, while ordinary profit increased by 47.0% to ¥8,968 million, and net profit attributable to owners of parent grew by 66.4% to ¥8,333 million.
• The rise in ordinary profit was primarily attributed to foreign exchange gains from the revaluation of receivables and payables related to overseas subsidiaries’ borrowings.
• The significant increase in net profit attributable to owners of parent was mainly due to the recording of gains on the sale of investment securities as extraordinary income, as part of the reduction of strategic shareholdings.
• As of March 31, 2026, the equity ratio stood at 71.4% (up from 70.2% at the end of the previous consolidated fiscal year), and the company acquired its own shares during the period.

While consolidated net sales remained largely stable, the notable increase in ordinary and net profits despite a decrease in operating profit is a key aspect. This suggests that non-operating factors, such as foreign exchange gains and proceeds from the sale of investment securities, significantly contributed to the overall profit growth. The ongoing share buyback program may also influence per-share metrics, which is worth monitoring.

• Yoshicon Co., Ltd. announced an increase in its year-end dividend for the fiscal year ending March 2026.
• The dividend per share is set at JPY 85.00. This represents an increase of JPY 5.00 from the most recent forecast (JPY 80.00, announced April 30, 2025) and an increase of JPY 10.00 from the previous fiscal year’s actual dividend (JPY 75.00 for FY2025).
• The total dividend amount is reported as JPY 594 million.
• The record date for the dividend is March 31, 2026, with an effective date of June 26, 2026.
• This proposal will be submitted for approval at the 58th Ordinary General Meeting of Shareholders scheduled for June 25, 2026.

This dividend increase by Yoshicon Co. may suggest the company’s commitment to its basic policy of actively promoting shareholder returns, taking into account economic conditions, industry trends, and business performance. The upward revision from the previously announced forecast could be viewed by investors as an indication of the company’s confidence in its earnings and its proactive stance on shareholder distribution.

• Bengoshi.com Inc. announced on April 30, 2026, the completion of its share acquisition of Mikata Small Amount Short Term Insurance Co., Ltd., making it a consolidated subsidiary.
• The completion date of the subsidiary acquisition was April 27, 2026.
• Bengoshi.com’s post-acquisition ownership stands at 46,474 shares, representing a 53.0% voting rights ratio.
• Mikata Small Amount Short Term Insurance Co., Ltd. engages in small-amount short-term insurance business and related operations, with a capital of JPY 41 million and an establishment date of April 1, 2011.
• The impact of this acquisition on Bengoshi.com’s consolidated financial results for the fiscal year ending March 2026 is minor, while the impact for the fiscal year ending March 2027 is currently under review.

This consolidation of Mikata Small Amount Short Term Insurance Co., Ltd. may suggest Bengoshi.com’s strategy to diversify its business portfolio and explore new revenue streams, potentially leveraging synergies with its existing services. Investors might find it worthwhile monitoring how this integration will influence Bengoshi.com’s future business strategies and financial performance, particularly as the impact on FY2027 results is under review.

• M&A Capital Partners Co., Ltd. announced its consolidated financial results for the second quarter (interim period) of the fiscal year ending September 2026.
• For the interim period, revenue was ¥13,447 million (up 17.3% year-on-year), operating profit was ¥5,200 million (up 20.1%), and net profit attributable to owners of the parent was ¥4,039 million (up 26.5%).
• The number of consolidated M&A transactions reached 138 cases during the interim period (an increase of 24 cases year-on-year), with 32 cases having a total fee of ¥100 million or more (an increase of 1 case year-on-year).
• The full-year consolidated earnings forecast for the fiscal year ending September 2026 remains unchanged from the most recently published forecast, with revenue projected at ¥26,991 million, operating profit at ¥10,280 million, and net profit attributable to owners of the parent at ¥7,234 million.
• The annual dividend forecast also remains unrevised, with a year-end dividend of ¥68.34 (totaling ¥68.34).

M&A Capital Partners’ interim results demonstrate strong performance, with double-digit growth in revenue and all profit categories compared to the prior year, suggesting a robust business environment. This performance is attributed primarily to an increase in M&A transaction volumes and contributions from larger deals, as stated in the report. Against a backdrop of a record-breaking domestic M&A market, the company’s focus on maintaining a competitive edge and delivering high-quality services appears to be a key factor. The unchanged full-year earnings and annual dividend forecasts might indicate that the company considers the current progress within its anticipated range.

• Lasertec Corporation announced its consolidated financial results for the third quarter of the fiscal year ending June 2026. For the cumulative nine months (July 1, 2025 – March 31, 2026), net sales were ¥169,539 million, marking a 0.4% increase from the previous year.
• Net income attributable to owners of parent rose by 7.8% year-on-year to ¥56,823 million, while operating income decreased by 1.4% to ¥78,191 million. Ordinary income, however, increased by 6.7% to ¥80,449 million.
• Regarding sales by segment, semiconductor-related equipment sales declined by 6.7% to ¥124,664 million. In contrast, service sales increased significantly by 35.5% to ¥42,063 million.
• Total assets at the end of the third quarter amounted to ¥310,812 million, a decrease of ¥18,789 million compared to the end of the previous fiscal year. The equity ratio improved to 72.5% from 63.7% at the end of the previous fiscal year.
• The consolidated full-year forecast for fiscal year 2026 remains unchanged from the most recently published figures, projecting net sales of ¥220,000 million (down 12.5% YoY) and net income attributable to owners of parent of ¥72,000 million (down 14.9% YoY).

The reported financials indicate a marginal increase in net sales but a notable rise in net income attributable to owners of parent for the cumulative third quarter, suggesting improved profitability potentially driven by ordinary income despite a slight dip in operating income. The segment performance shows a potential shift, with a decrease in semiconductor-related equipment sales offset by significant growth in the service segment, which could be a point of interest for market observers. Furthermore, the decrease in total assets alongside a substantial improvement in the equity ratio may suggest a strengthening of the company’s financial structure.

• Kagome announced its financial results for the first quarter of the fiscal year ending December 2026 (January 1 to March 31, 2026).
• Consolidated revenue reached JPY 67,564 million, a 0.6% increase year-on-year. However, business profit declined by 25.8% to JPY 3,438 million, and profit attributable to owners of the parent decreased by 26.9% to JPY 2,055 million.
• The company has early adopted IFRS 18 “Presentation and Disclosure in Financial Statements” from the current consolidated fiscal year, and prior period figures have been retrospectively restated to reflect this change.
• In January 2026, Kagome acquired all shares of Silbury Marketing Ltd, making it a consolidated subsidiary.
• The full-year consolidated earnings forecast for the fiscal year ending December 2026 remains unchanged from the latest public announcement, projecting revenue of JPY 310,000 million (up 5.3% year-on-year) and profit attributable to owners of the parent of JPY 13,400 million (down 9.5% year-on-year).

While consolidated revenue increased in the first quarter, the decline in business profit and profit attributable to owners of the parent may be attributed to factors such as reduced sales volume after price revisions in the domestic processed food business due to high raw material costs, increased sales promotion expenses, and a downturn in the international tomato paste market. However, the international business achieved revenue growth, partly due to the contribution from the newly consolidated subsidiary, Silbury Marketing Ltd. The fact that the full-year earnings forecast remains unchanged suggests management believes these factors are within the scope of their annual plan.

• ODK Solutions Inc. recorded extraordinary losses totaling JPY 266 million in its FY2026 financial results, comprising JPY 196 million in goodwill impairment loss related to NINJAPAN Co., Ltd. due to deviation from initial business plans, JPY 47 million in fixed asset impairment loss due to interruption of system development, and JPY 23 million in impairment loss for software related to the termination of an SNS-based demonstration project.
• For the full fiscal year ended March 31, 2026, consolidated net sales were JPY 6,657 million, a decrease of JPY 542 million (△7.5%) compared to the previously announced forecast of JPY 7,200 million.
• Operating profit reached JPY 606 million, exceeding the forecast of JPY 530 million (+14.5%), and ordinary profit was JPY 659 million, also surpassing the forecast of JPY 580 million (+13.6%).
• Net profit attributable to owners of the parent significantly decreased to JPY 139 million, a JPY 240 million (△63.3%) decline from the forecasted JPY 380 million, primarily due to the recorded extraordinary losses.
• The decline in net sales was attributed to unmet targets in new medical service contracts, machine sales, an uncompleted M&A deal by a subsidiary, and recruitment-related services. The increase in operating and ordinary profits was due to reductions in outsourcing fees, personnel expenses, and advertising costs.

ODK’s recognition of multiple extraordinary losses, leading to a substantial decrease in net profit, suggests ongoing adjustments to its business operations and strategic focus, including addressing underperforming assets or projects. Despite missing sales targets, the company’s ability to exceed operating and ordinary profit forecasts through expense reductions could indicate effective cost management. Investors may wish to monitor how these strategic adjustments and cost controls influence the company’s financial performance in future periods.

• Traders Holdings Co., Ltd. reported consolidated operating revenue of JPY 13,218 million for the fiscal year ended March 2026, representing a 1.6% decrease from the previous year.
• Net profit attributable to owners of parent for the same period was JPY 4,244 million, down 6.7% year-on-year.
• Operating profit stood at JPY 6,161 million (down 7.1%), and ordinary profit also reached JPY 6,161 million (down 7.4%), indicating a decrease in profits compared to the previous fiscal year.
• The annual dividend per share increased to JPY 40.00 from JPY 32.00 in the prior year, with a total dividend payout of JPY 1,059 million and a consolidated payout ratio of 25.1%.
• For the fiscal year ending March 2027, the company forecasts consolidated operating revenue of JPY 15,700 million (an 18.8% increase) and net profit attributable to owners of parent of JPY 4,800 million (a 13.1% increase), with an expected annual dividend of JPY 45.00 per share.

Traders Holdings’ FY2026/3 results show a year-on-year decline in revenue and profits, yet an increase in the annual dividend. This could reflect the impact of foreign exchange market conditions and increased selling, general and administrative expenses. Concurrently, the company has made strategic investments in system infrastructure upgrades and service enhancements, which may support future growth. The positive outlook for FY2027/3, projecting increased revenue and profit, suggests that these strategic initiatives are anticipated to yield results.

• Career Design Center Co., Ltd. announced a revision to its dividend forecast (increase) on April 30, 2026.
• The annual dividend (year-end dividend) for the September 2026 fiscal year has been revised upwards from the previously announced forecast (November 12, 2025) of JPY 125 per share to JPY 130 per share.
• The revision is attributed to the fact that each stage profit in the interim accounting period for the September 2026 fiscal year has been trending above the earnings forecast, and as an expression of gratitude to shareholders.
• The company recognizes shareholder returns as a critical issue and has a basic policy of aiming for a dividend payout ratio of 50% or more for ordinary dividends.

This dividend increase, driven by stronger-than-expected interim earnings, may suggest the company’s robust operational performance and a proactive stance towards shareholder returns. The policy of maintaining a dividend payout ratio of 50% or more could indicate a potential for stable shareholder returns in line with future profit growth.

• For the nine months ended March 31, 2026 (Q3 FY2026), Wellnet reported net sales of ¥7,621 million (down 8.3% year-on-year), operating income of ¥1,117 million (down 11.3%), ordinary income of ¥1,204 million (down 15.3%), and quarterly net income of ¥835 million (down 8.5%).
• The company revised its full-year forecast for FY2026, now projecting net sales of ¥10,000 million (down 8.4% year-on-year), operating income of ¥1,350 million (down 10.1%), ordinary income of ¥1,450 million (down 12.9%), and net income of ¥1,000 million (down 7.2%).
• In the transportation DX sector, the “Gurutto Hokkaido” digital ticket site was launched in November 2025 as part of a Ministry of Land, Infrastructure, Transport and Tourism project, and 18 multi-language automatic ticket machines were delivered and installed at Kansai International Airport.
• Wellnet is preparing for the social implementation of identity-verified e-money services in collaboration with Japan Communications Inc.
• The performance for the Q3 cumulative period was affected by the reversal from a large project recorded in the prior year period.

The year-on-year decline in key financial metrics may be influenced by the absence of large projects from the previous fiscal year. The revision of the full-year earnings forecast could indicate the company’s updated outlook for the remainder of the fiscal year. Ongoing strategic investments in new services such as identity-verified e-money and DX projects in the transportation sector are worth monitoring for future growth potential.

• In the second quarter of the fiscal year ending August 2026, net sales and all stages of profit decreased year-over-year. This was primarily attributed to changes in project recognition timing and project composition.
• The DX Promotion Support Business was affected by delays in the start of some projects to the second half, a transition period for smart mobility related projects, and a strategic withdrawal from low-profit projects.
• While the DX Support Product and Service Business achieved increased revenue, the gross profit margin declined from 45.7% in the previous year to 42.7% due due to a temporary increase in sales of low-profit licenses to a major customer.
• The number of enterprise customers stood at 20 at the end of Q2, an increase of 4 customers year-over-year.
• The full-year earnings forecast for the fiscal year ending August 2026 remains unchanged. The initial plan assumed that investment costs would precede in H1, with sales and profits heavily weighted towards H2. The progress rates for Q2 cumulative were 42.8% for net sales and 28.5% for operating income.

The Q2 profit decline is explained as primarily due to upfront investments, project timing, and composition changes, rather than a structural deterioration of the demand environment. The increase in enterprise customer numbers and the strategic initiatives for H2, including high-value-added services and AI utilization for productivity, appear to be key areas for monitoring their potential impact on achieving full-year targets and long-term growth. Furthermore, the company maintains that DX demand remains robust, suggesting that adaptation to the increasing importance of consulting in the wake of AI proliferation could be crucial for future business development.

• Pole To Win Holdings disclosed answers to key questions from investors following its FY2026 earnings announcement on April 30, 2026.
• The company announced its withdrawal from the Media & Content business in June 2026, pivoting back to its core BPO business with a priority on recovering profitability.
• For the current fiscal year (FY2027), the company is prioritizing exiting a three-consecutive-year net loss streak, forecasting an operating loss in Q1 and a net loss in Q2 (interim period).
• In its game debugging business, Pole To Win Holdings aims to actively integrate AI technology to transition from a “labor-intensive” to a “knowledge-intensive” business model.
• Enhanced IR activities led to continuous record-high access to disclosed information on its website and a 37.5% increase in the number of shareholders compared to the end of the previous fiscal year within approximately six months.

• This disclosure outlines a comprehensive review of past business restructuring and indicates a clear strategic direction for future profitability improvement, which may help enhance investor understanding.
• The stated transition to a knowledge-intensive business model through AI integration could suggest a long-term shift in the company’s revenue structure, warranting close monitoring of future developments.
• The increased shareholder count and heightened IR engagement suggest that efforts to improve market recognition are yielding results, potentially influencing the company’s valuation.

• Rento Co., Ltd. published the Q&A summary from its Q3 FY2026 earnings briefing on April 30, 2026.
• The full-year FY2026 earnings forecast remains unchanged, attributed to costs associated with initiatives for sustained growth in Q4, along with uncertainties from the Middle East situation and exchange rate fluctuations.
• Sales of the Value-Plus service increased by 9.5% year-on-year, with the company noting a strong demand for “safety” and “environmental response,” in addition to an increasing need for solutions addressing “labor shortages” at construction and equipment installation sites.
• Negative impacts from the Middle East situation include rising costs for paints, oils, and fuel, as well as project delays or postponements for customers due to material procurement and cost increases.
• Positive impacts from the Middle East situation include increased demand for construction machinery using biofuels due to high resource prices, a potential long-term boost in rental needs driven by the shift towards a circular economy, and an upward trend in market prices for used equipment, suggesting increased opportunities for selling off rental-returned assets.

The Q&A summary from Rento provides insights into the current business environment and management’s perspectives. The unchanged earnings forecast likely reflects a cautious assessment of growth investments and external uncertainties. Conversely, the robust growth in Value-Plus services indicates the company is addressing structural needs in construction and equipment installation sites, such as labor shortages and environmental compliance, which could be a key pillar for future business strategy. While the Middle East situation presents short-term negative factors like cost increases, it is also acknowledged to potentially offer long-term tailwinds for the rental business, making its developments worth monitoring.

• CAVE Interactive Co., Ltd. released its Q3 FY2026 earnings explanation video, presentation materials, and answers to pre-submitted questions on April 30, 2026.
• The company confirmed that “Shin Dotokun Bee Dai Fukkatsu” is currently under development for release on Steam.
• A third-party allotment of shares was executed with Natsuko Yoshinari, the Representative Director and Chairman and largest shareholder, as the allocatee, with the procured funds designated for consumer game development.
• This private placement, undertaken by the management itself, is intended to clearly demonstrate commitment to enhancing corporate value over the medium to long term.
• The company acknowledged concerns regarding its current stock price level and outlined a strategy to recover performance and enhance corporate value through restructuring unprofitable businesses, strengthening the utilization of existing IPs in its game business, entering the consumer game domain, and steadily expanding globally.

This IR release from CAVE appears to signal a clear strategic direction for its business and the management’s commitment to these initiatives. The focus on utilizing existing IPs, entering the consumer game market, and direct funding from management could be viewed as strong indicators of a commitment to medium to long-term growth. Investors may find it worthwhile to monitor how these strategies translate into future financial performance.

• G-GLOBAL SECU reported consolidated net sales of JPY 11,022 million (up 25.2% year-on-year) and operating profit of JPY 2,238 million (up 38.6% year-on-year) for the fiscal year ended March 2026, marking record highs for both revenue and profit.
• The company achieved its mid-term management plan’s sales growth target of +25% as planned, with the operating profit margin improving by 2.0 percentage points year-on-year to 20.3%. Operating profit has shown growth for eight consecutive years.
• As part of its AI-era growth strategy, the Cybersecurity Business launched the “Security Document Diagnosis” service and is developing the integrated AI tool “SecOps.AI” for security operations.
• In the Security Education and Human Resources Businesses, multiple new AI-related courses, including “AI Security Engineer” and “AI Security Passport,” have been released, and an AI-driven educational material development model has been established.
• Customer numbers for the fiscal year ended March 2026 grew steadily, with 1,022 existing customers and 566 new customers, and Average Revenue Per User (ARPU) also increased due to upselling and cross-selling effects.

The fiscal year 2026 results indicate robust expansion, with record-high sales and profits, and the achievement of the mid-term plan’s sales growth target. This performance may suggest the company is benefiting from increasing cybersecurity demand and initiatives to enhance profitability through AI utilization across its segments. The focus on new service developments and human resource training in anticipation of the AI era could be a noteworthy growth driver for the future.

• XNET Co., Ltd. (Code: 4762) announced its unaudited financial results (non-consolidated) for the fiscal year ended March 31, 2026, on April 30, 2026.
• For FY2026, net sales increased by 6.7% year-on-year to JPY 5,658 million, operating profit rose by 18.7% to JPY 1,021 million, and ordinary profit grew by 19.2% to JPY 1,011 million. However, net profit for the period decreased by 6.6% to JPY 542 million.
• The annual dividend for FY2026 was JPY 47.50 per share, an increase of JPY 2.50 from the previous fiscal year (interim JPY 22.50, year-end JPY 25.00).
• The forecast for FY2027 (April 1, 2026 – March 31, 2027) projects net sales of JPY 5,800 million (+2.5% YoY), operating profit of JPY 700 million (-31.5% YoY), ordinary profit of JPY 700 million (-30.8% YoY), and net profit of JPY 450 million (-17.1% YoY).
• The projected annual dividend for FY2027 is JPY 70.00 per share (interim JPY 35.00, year-end JPY 35.00), comprising a base dividend and an extra dividend.

While XNET achieved sales and operating profit growth in FY2026, the decline in net profit for the period is a notable point. The projected substantial increase in the annual dividend for FY2027, despite an anticipated decline in profits, may indicate a strong commitment to shareholder returns. Further examination of the company’s cash flow statement could provide a more comprehensive understanding of its financial health.

• Arisawa Mfg. Co., Ltd. (Code: 5208) announced on April 30, 2026, a revision to its dividend forecast for the fiscal year ending March 2026, resolved by its Board of Directors.
• The year-end dividend forecast has been revised upwards by ¥25.00, from the previously projected ¥53.00 per share to ¥78.00 per share.
• Consequently, the total annual dividend for the fiscal year ending March 2026 is now projected to be ¥122.00, up from the previous forecast of ¥97.00.
• The revision is based on the “Announcement Regarding Changes in Capital Policy and Shareholder Return Policy” disclosed on April 10, 2024.
• Under this policy, the company aims to return the greater of a Shareholder’s Equity Ratio (DOE) of 6% or a total return ratio of 80% or more to shareholders during its Mid-term Management Plan (FY2026 to FY2030).
• This adjustment was made in consideration of the consolidated financial results for the full fiscal year, which were also disclosed on April 30, 2026.

• This upward revision to the dividend forecast appears to be a direct implementation of the company’s recently updated shareholder return policy, which emphasizes a DOE of 6% or a total return ratio of 80% or more.
• The timing of this announcement, coinciding with the full-year consolidated results, may suggest that strong performance contributed to the ability to increase shareholder returns.
• Investors may view this as an indication of the company’s commitment to both growth investments and robust shareholder distributions as outlined in its mid-term plan.

• Tsuruya Co., Ltd. revised down its full-year individual earnings forecast for the fiscal year ending March 2026. Net sales were revised from ¥6,700 million to ¥6,505 million, operating profit from ¥270 million to ¥146 million, and net profit from ¥430 million to ¥373 million.
• The primary reasons for the earnings forecast revision include lower-than-expected housing starts for owner-occupied homes, coupled with a decrease in net sales and the impact of rising material costs.
• The annual dividend forecast for the fiscal year ending March 2026 was also revised upwards from the previously announced total of ¥10.50 per share to ¥14.50 per share.
• The revised annual dividend consists of a year-end ordinary dividend of ¥4.50 (reduced from the previous forecast of ¥6.50) and a special dividend of ¥6.00.
• The ¥6.00 special dividend will be implemented due to extraordinary gains (gain on sale of fixed assets) recorded in the current fiscal year.
• This dividend proposal is scheduled to be deliberated at the Board of Directors meeting on May 1, 2026, and presented at the Ordinary General Meeting of Shareholders scheduled for June 23, 2026.

• The downward revision of the earnings forecast suggests the company is facing challenges from a slowdown in housing starts and rising material costs, which could impact its profitability.
• However, despite the earnings revision, the upward adjustment of the annual dividend forecast, driven by a special dividend from the sale of fixed assets, indicates the company’s approach to shareholder returns under specific circumstances.
• Investors may want to observe how these factors, particularly the mix of reduced ordinary dividend and the introduction of a special dividend, reflect the company’s financial strategy and market outlook.

• G-yutori Co., Ltd. completed the acquisition of all shares of heart relation Inc. on April 30, 2026, making it a wholly owned subsidiary.
• heart relation operates lifestyle brands such as “Her lip to.” G-yutori’s voting interest in heart relation increased from 51.0% before the acquisition to 100.0% post-acquisition.
• The payment procedure for the third-party allotment of 53,600 new shares to Ms. Haruna Kojima (issue price of 2,176 yen per share) was completed on April 30, 2026.
• This new share issuance was conducted as an in-kind contribution of a portion of Ms. Kojima’s share transfer consideration for heart relation shares, totaling 116,633,600 yen, and did not involve cash fundraising.
• The company stated that this matter will have no impact on G-yutori’s consolidated results for the fiscal year ended March 2026, and the impact on the fiscal year ending March 2027 is currently under review.

The full acquisition of heart relation Inc. could potentially enhance G-yutori’s brand portfolio and generate synergies through business integration. The execution of the third-party allotment to Ms. Haruna Kojima via an in-kind contribution may suggest an aim to secure long-term collaboration with the founder of heart relation. Investors may monitor future disclosures regarding the specific impact on the fiscal year ending March 2027 results.

• Toyo Seikan Group Holdings Co., Ltd. announced on April 30, 2026, an upward revision to its consolidated financial forecast for the fiscal year ending March 2026.
• The revised consolidated operating profit is projected at ¥51.5 billion (a 14.4% increase from the previous forecast), ordinary profit at ¥58.0 billion (a 20.8% increase), and profit attributable to owners of parent at ¥54.5 billion (an 11.2% increase).
• The consolidated net sales forecast remains unchanged at ¥960,000 million.
• Key reasons for the revision include cost reduction efforts across the group companies and the recovery of the overseas engineering business, which led to a reduction in losses.
• This revision indicates the company is on track to achieve its consolidated operating profit target of ¥50.0 billion, set forth in the “Medium-Term Management Plan 2025” (final fiscal year 2025) announced on May 14, 2021.

This upward revision to the earnings forecast may suggest the company’s efforts in cost reduction and business structure improvement are yielding positive results. The recovery in the overseas engineering business appears to be a notable factor contributing to the improved profitability. Achieving the operating profit target outlined in the medium-term management plan could be viewed as a positive indicator of the company’s strategic execution.

• Nabtesco announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 – March 31, 2026). Revenue reached ¥83,032 million (up 16.9% year-on-year), and operating profit was ¥8,209 million (up 68.3% year-on-year). Profit attributable to owners of the parent was ¥5,483 million (up 67.0% year-on-year).
• These results were driven by recovering demand for precision reduction gears, as well as increased demand in automatic doors and marine equipment, coupled with the steady progress of the profitability improvement initiative, “Project 10.”
• The Hydraulic Components Business was divested on January 1, 2026, with 70% of the issued shares of its wholly-owned subsidiary, Comtesco Corporation, transferred. Comtesco Corporation subsequently became an equity-method affiliate. The reported revenue, operating profit, and profit before tax for this quarter represent amounts from continuing operations, excluding the discontinued operations.
• The consolidated earnings forecast for the fiscal year ending December 2026 has been revised. The full-year revenue is now projected at ¥327,000 million, and profit attributable to owners of the parent at ¥18,600 million. The annual dividend forecast remains unchanged at ¥82.00 per share (¥41.00 for interim, ¥41.00 for year-end).
• By segment, the Component Solutions Business reported a significant increase in operating profit, rising 394.5% year-on-year to ¥1,969 million.

Nabtesco’s first-quarter results appear to indicate robust growth in its continuing operations following the divestment of its hydraulic components business. The recovery in demand for key segments like precision reduction gears and the effectiveness of the “Project 10” initiative in improving profitability seem to be key factors. The revision of the full-year earnings forecast could reflect the strong start to the year, suggesting that the company’s performance in subsequent quarters will be worth monitoring.

• Tokaoka Toko Co., Ltd. announced on April 30, 2026, a correction to a part of its “Supplementary Financial Materials for the Fiscal Year Ended March 2026,” which was originally released on April 28, 2026.
• The reason for the correction was the discovery of errors in certain descriptions after the submission of the original materials.
• The corrections pertain to the “Status of Order Intake” and “Status of Order Backlog” on page 13 of the document.
• For the GX Solution business segment, the order backlog at the end of March 2026 was corrected from “¥24,437 million” to “¥2,437 million.”
• For the Optical Application Inspection Equipment business, the year-on-year change in order intake for the FY2025 results was corrected from “+¥49 million” to “▲¥49 million.”

• This correction may suggest an impact on the reported order backlog and order intake growth in specific business segments.
• The substantial downward revision of the GX Solution segment’s order backlog for March 2026 could be a key point for investors to consider when assessing future revenue prospects for that business.
• Investors might find it worthwhile to analyze the implications of these corrected figures on the company’s overall financial performance and business plans.

• OlympicG (Code: 8289) announced the financial results for Esprit Inc., its non-listed “Parent Company, etc.,” for the fiscal year ended January 2026, on April 30, 2026.
• Esprit Inc.’s business activities include warehousing, real estate leasing, buying, selling, brokerage, mediation, management, real estate transaction consulting, and money lending.
• As of February 28, 2026, Esprit Inc. holds 27.85% of OlympicG’s voting rights.
• For its fiscal year ended January 2026 (February 1, 2023, to January 31, 2024), Esprit Inc. reported net sales of 448,342 thousand JPY and net income of 4,936 thousand JPY.
• OlympicG’s Representative Director and Vice President, Nobuyuki Kanazawa, and Director, Yoshitaka Kanazawa, serve concurrently as Directors of Esprit Inc.

The disclosure of financial information for a non-listed parent company by a listed entity like OlympicG may contribute to enhanced transparency across the group. For investors, this provides insight into the financial health and business activities of the controlling shareholder, alongside detailed information on the personnel, capital, and transactional relationships between the two entities. This data could potentially assist in assessing OlympicG’s corporate governance structure and the broader stability of its business foundation.

• **FY2026 Performance**: Operating revenue increased by 6.3% to ¥4,300 million, operating profit decreased by 0.7% to ¥1,064 million, ordinary profit increased by 3.1% to ¥1,214 million, and net profit increased by 6.3% to ¥852 million.
• **Annual Dividend**: The annual dividend for FY2026 was ¥53.00 (year-end ¥28.00), an increase of ¥3 from the previous year. The company forecasts an annual dividend of ¥53.00 (year-end ¥28.00) for FY2027.
• **Financial Position**: As of the end of March 2026, total assets were ¥8,224 million, net assets were ¥6,962 million, and the equity ratio was 84.7%.
• **Revenue Shift**: IT service revenue significantly increased by 59.2% to ¥516 million. This was attributed to the commencement of system usage fee recognition following the transfer of IT system assets from the Century 21 Franchise Advertising Fund Association.
• **FY2027 Outlook**: The company projects operating revenue of ¥4,426 million (up 2.9% year-on-year), operating profit of ¥1,136 million (up 6.8%), ordinary profit of ¥1,238 million (up 2.0%), and net profit of ¥830 million (down 2.7%).

Century 21 Japan’s FY2026 results show increased revenue and net profit, alongside a dividend hike. The significant growth in IT service revenue may suggest a successful monetization of digital initiatives within its franchise operations. While operating profit saw a slight decline due to increased support costs for franchisees, one-time non-operating income and tax benefits appear to have contributed to the overall net profit growth.

• Daisho Co., Ltd. announced on April 30, 2026, the finalized financial results for the fiscal year ended February 2026 of its parent company, Uchu Inc.
• Uchu Inc. holds 28.43% of Daisho’s voting rights as of February 28, 2026, and its Representative Director and President, Ryoju Taira, also serves as Daisho’s Representative Director and President.
• For the fiscal year ended February 2026 (March 1, 2025 – February 28, 2026), Uchu Inc. reported sales of ¥27,883 thousand, an operating loss of ¥4,370 thousand, and a net income of ¥35,608 thousand.
• As of February 28, 2026, Uchu Inc.’s balance sheet showed total assets of ¥5,692,772 thousand and total net assets of ¥448,098 thousand, with investment securities accounting for ¥5,598,428 thousand within investments and other assets.
• Ryoju Taira holds 100.00% of Uchu Inc.’s total outstanding shares, according to the shareholder status report.

The disclosure of Uchu Inc.’s financial results, as a parent company of Daisho, may offer insights into the financial health of a key shareholder. Uchu Inc.’s income statement indicates that while its core business in non-life insurance agency generated limited sales, a significant portion of non-operating income derived from dividends, suggesting that investment activities contribute substantially to its earnings. Furthermore, the substantial amount of investment securities on its balance sheet highlights the importance of its investment portfolio within its overall asset structure.

• Kajitech Co. announced its non-consolidated financial results for the fiscal year ended March 31, 2026, reporting net sales of ¥7,799 million (up 11.4% year-on-year), operating profit of ¥925 million (up 49.2%), ordinary profit of ¥977 million (up 27.1%), and net profit of ¥723 million (up 25.0%).
• The annual dividend per share for FY2026 was ¥60.00, an increase from ¥40.00 in the previous fiscal year.
• The company stated that its performance was driven by multiple large-scale projects in hydrogen mobility and carbon-neutral sectors, leading to robust sales of compressor units and strong aftermarket service sales.
• For the fiscal year ending March 31, 2027, the company forecasts net sales of ¥7,100 million (down 9.0% year-on-year), operating profit of ¥970 million (up 4.8%), ordinary profit of ¥1,020 million (up 4.3%), and net profit of ¥730 million (up 0.9%).
• An annual dividend of ¥70.00 per share is projected for FY2027.

Kajitech’s FY2026 results indicate substantial growth in revenue and profits, primarily driven by significant projects in the hydrogen mobility and carbon-neutral sectors. While the FY2027 outlook anticipates a decrease in net sales, it projects continued profit growth, which may suggest a shift towards enhanced profitability. The implementation of the newly established “2026 Mid-Term Management Plan” could be a key factor to monitor regarding future performance.

• Mitsubishi Pencil Co., Ltd. resolved to enter into a business alliance agreement with Advantage Partners Co., Ltd. at its board meeting on April 30, 2026, and signed the agreement on the same date.
• This alliance aims to accelerate the realization of Mitsubishi Pencil’s “Desired Vision 2036 (long-term vision)” and enhance corporate value by leveraging advanced external management support.
• Advantage Partners is expected to provide support including the embodiment of the “World’s No. 1 Expression Innovation Company” vision, strengthening overseas business (North America, Asia (China), Europe), LAMY sales growth, company-wide profitability improvement including supply chain optimization, transition to a global management system, M&A support, and capital structure optimization/IR enhancement.
• The business alliance is scheduled to commence on May 19, 2026.
• Mitsubishi Pencil plans to allocate the 1st series share options and 1st series unsecured convertible bond with share options to a fund serviced by Advantage Partners, as announced separately in “Notice Regarding the Issuance of the 1st Series Share Options and 1st Series Unsecured Convertible Bond with Share Options through Third-Party Allotment.”

This business alliance suggests Mitsubishi Pencil’s proactive approach to achieving its long-term vision by integrating external expertise from Advantage Partners. The comprehensive support, focusing on accelerating global expansion, optimizing the supply chain for improved profitability, and refining capital policy, indicates a commitment to holistic corporate transformation and robust execution of growth strategies. This integrated approach, combining fundraising with management support, could be seen as a strategic move towards sustainable long-term corporate value enhancement.

• Nomura Holdings reported consolidated net income of ¥362.1 billion for the fiscal year ended March 31, 2026, marking a second consecutive year of record high profits, an increase of 6% year-over-year.
• The company achieved an annual ROE of 10.1%, surpassing its 2030 Vision quantitative target for the second consecutive year.
• Pre-tax income for the four segments combined reached a record high of ¥506.9 billion, with the Wealth Management and Wholesale divisions recording their highest-ever profits since establishment.
• The annual dividend per share is projected to be ¥51 (¥24 at fiscal year-end), resulting in a dividend payout ratio of 41%.
• Assets under management for the Investment Management division expanded by over 50% year-on-year to approximately ¥137 trillion.

The achievement of record-high profits and ROE targets suggests effective execution of the company’s business strategies. The robust performance of the Wealth Management and Wholesale divisions indicates successful adaptation to market conditions and growth in key segments. The expansion of the stable revenue base, particularly in investment management, could contribute to greater earnings predictability in future periods.

• CRESTEC Co., Ltd. resolved to merge its consolidated subsidiaries, DRUCK Co., Ltd. and KANSAI DRUCK Co., Ltd., at a board meeting held on April 30, 2026.
• The merger will be an absorption-type merger, with DRUCK Co., Ltd. as the surviving company and KANSAI DRUCK Co., Ltd. as the absorbed company, which will be dissolved on the effective date.
• The stated purpose of the merger is to streamline management and reduce administrative costs within the company group.
• The scheduled effective date for this merger is June 17, 2026.
• As this is a merger between wholly-owned subsidiaries, no new shares will be issued, nor will any cash or other assets be delivered. The impact on the consolidated financial results for the fiscal year ending June 2026 is expected to be minor.

This merger between consolidated subsidiaries suggests an internal reorganization strategy aimed at enhancing overall operational efficiency and optimizing costs within the group. Given that DRUCK engages in various creative works and KANSAI DRUCK manages assets, the integration could aim to streamline business operations and asset management. While the immediate impact on consolidated financial results is stated to be minor, this move may potentially contribute to strengthening the group’s management foundation in the longer term.

• Terra Drone Corporation announced on April 30, 2026, a correction to its “Consolidated Financial Results for the Fiscal Year Ended January 31, 2026 [Japanese GAAP]”.
• The correction was primarily due to the additional recognition of an impairment loss on fixed assets held by its Indonesian subsidiary, PT Terra Drone Indonesia (TDID).
• Following an auditor’s opinion regarding the impact of a fire accident on December 9, 2025, an additional impairment loss of ¥173 million was recognized for the entire book value of TDID’s agricultural business-related fixed assets, bringing the total impairment loss for TDID to ¥572 million.
• The corrected consolidated financial results for the fiscal year ended January 31, 2026, show a net loss attributable to owners of parent of ¥2,497 million and a basic earnings per share of -¥260.22.
• While a decrease in depreciation expenses is anticipated from the fiscal year ending January 2027 onwards due to the reduction in fixed asset book value, the impact on the consolidated performance for that fiscal year is currently under review.

The company states that this additional impairment loss is a conservative accounting judgment based on special circumstances, such as the fire accident, and does not reflect a deterioration in business earnings outlook. The potential impact of reduced depreciation expenses from the fiscal year ending January 2027 on future earnings is a key aspect that investors may wish to monitor.

• Greenlight Renewable Energy Infrastructure Investment Corporation (Code: 509A) announced on April 30, 2026, a partial correction to its “Financial Results for the Fiscal Period Ended January 2026 (Infrastructure Fund)” originally published on March 19, 2026.
• The reason for the correction was an error in calculating net income per investment unit, where the total number of outstanding investment units was mistakenly used instead of the weighted average number of investment units.
• The “Net Income per Investment Unit” at the beginning of the financial results was corrected from △27,555 yen (before correction) to △62,378 yen (after correction).
• Correspondingly, the weighted average number of investment units mentioned in Note 2 of “1. Status of Operation and Assets for the Fiscal Period Ended January 2026 (1) Operational Status” was revised from 7,167 units to 3,166 units.
• The “Net Loss per Investment Unit” in the notes to the financial statements was also corrected from △27,555 yen to △62,378 yen.

This correction primarily stems from an error in the number of investment units used as the basis for calculating net income per unit, underscoring the critical importance of accuracy in information provided to individual investors. Investor attention to transparency in accounting processes and and the precision of information disclosure is likely to remain high. Such corrections can sometimes draw scrutiny regarding the effectiveness of a company’s internal control systems and verification functions.

• Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) reported consolidated revenue of ¥6,328.5 billion for the fiscal year 2025 (April 1, 2025 – March 31, 2026), a decrease of ¥481.8 billion year-on-year.
• Ordinary profit increased to ¥417.3 billion (up ¥162.8 billion year-on-year), but net loss attributable to owners of parent amounted to ¥454.2 billion (compared to a profit of ¥161.2 billion in the previous fiscal year).
• The primary reason for the net loss was the recording of ¥9,966 billion in special losses, which included ¥9,138 billion in special disaster losses.
• The company decided to pay no year-end dividend for FY2025 and forecasts no interim or year-end dividends for FY2026.
• Regarding the consolidated financial position, total assets increased to ¥15,575.6 billion, while liabilities rose to ¥12,157.2 billion, resulting in a decline in the equity ratio by 3.3 percentage points from 25.1% to 21.8%.

While consolidated ordinary profit showed an increase, a substantial amount of special losses, primarily related to past disasters and the nuclear business, significantly impacted the final net profit. This situation suggests that the company’s financial results continue to be heavily influenced by unique factors like nuclear damage compensation and decommissioning costs, alongside the operational profitability of its core electricity business. The continued absence of dividends may indicate management’s prioritization of strengthening the financial foundation and focusing on business reconstruction for the future.