Japan Stock IR Daily – May 13, 2026 (135 reports)

• Recycle Japan Group Corporation announced on May 13, 2026, that its Board of Directors resolved to revise upward its consolidated earnings forecast for the full fiscal year ending September 2026 for a second time.
• The revised forecast now projects net sales at JPY 16.2 billion (up 1.3% from the previous forecast of JPY 16.0 billion), operating profit at JPY 1.7 billion (up 30.8% from JPY 1.3 billion), and ordinary profit at JPY 1.7 billion (up 30.8% from JPY 1.3 billion).
• Net income attributable to owners of parent is revised to JPY 1.2 billion (up 33.3% from JPY 0.9 billion in the previous forecast), resulting in earnings per share of JPY 82.13, up from JPY 61.59.
• The upward revision is primarily attributed to incorporating certain high-certainty projects from the GIGA device trade in the recycling business and an upward trend in both collection volume and sales unit price for existing BtoC collection.
• This marks a second upward revision, following the previous one announced on February 9, 2026, and covers the fiscal period from October 1, 2025, to September 30, 2026.

This repeated upward revision within a short period may suggest a stronger than anticipated performance and an improving business environment for the company. The significantly higher percentage increase in operating profit, ordinary profit, and net income attributable to owners of parent compared to sales could indicate an enhancement in profit margins or operational efficiency. The sustained strength in the GIGA device trade and BtoC collection within the recycling business appears to be a key factor worth monitoring for future performance.

• D-Plus Co., Ltd. was listed on the TOKYO PRO Market of the Tokyo Stock Exchange on May 13, 2026.
• For the fiscal year ending November 2026, the company forecasts net sales of ¥11,000 million (an 18.8% increase year-on-year), operating profit of ¥548 million (a 195.0% increase), ordinary profit of ¥501 million (a 232.9% increase), and net profit of ¥328 million (a 256.8% increase).
• For the previous fiscal year ended November 2025, actual results were net sales of ¥9,258 million, operating profit of ¥186 million, ordinary profit of ¥150 million, and net profit of ¥92 million.
• The company operates solely in the car leasing business, with a growth strategy focused on maintaining stable profits in the Tokai area and accelerating expansion into the Kansai region.
• A 1-for-5,000 stock split was conducted for common shares on February 5, 2026.

• Listing on the TOKYO PRO Market may enhance the company’s credibility and potentially broaden its access to capital.
• The significant year-on-year growth projected for net sales and all profit figures in the FY2026/11 forecast could indicate that the company is in a phase of robust expansion.
• Given the anticipated increase in the personal car leasing market, the alignment of the company’s growth strategy, particularly its expansion into the Kansai region, could be a key area for investors to monitor.

• For the full fiscal year ended March 2026, consolidated net sales were JPY 23,917 million, marking a 4.8% decrease compared to the previous fiscal year.
• Consolidated operating profit reached JPY 574 million (a 63.1% decrease year-on-year), and consolidated ordinary profit was JPY 534 million (a 64.1% decrease year-on-year).
• Net income attributable to owners of the parent amounted to JPY 263 million, representing a turn to profitability from a loss of JPY 461 million in the prior fiscal year.
• The primary factors for the decrease in operating profit were a reduction in gross profit due to lower sales (JPY -1.2 billion) and worsening manufacturing costs (JPY -0.26 billion), which could not be fully offset by the suppression of selling, general, and administrative expenses (JPY +0.43 billion).
• Domestic sales in Japan decreased by 3.8% to JPY 13,109 million, with a reduction in acquired cases for artificial joints influenced by media reports. U.S. sales declined by 5.9% to JPY 10,807 million (USD 71.5 million, down 5.0% on a USD basis), primarily due to supply constraints for artificial knee joint products, although new artificial hip joint products showed growth.

* Despite reporting a decline in both net sales and operating profit, the return to positive net income attributable to owners of the parent may suggest underlying resilience or successful cost management in certain areas.

* The identified impacts from media reports in Japan and product supply constraints in the U.S. highlight significant external and operational challenges that could continue to influence future performance, warranting ongoing monitoring.

* The company’s commentary on worsening manufacturing costs, even with efforts to curb SG&A, could indicate that supply chain optimization and production efficiency might be critical areas for improving profitability moving forward.

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

• G-Minkabu announced a revision to its earnings forecast.
• Net income attributable to owners of parent reflects the reassessment of deferred tax asset recoverability, based on a review of its business portfolio and new business development utilizing AI.
• The company has finalized its decision to relocate its head office in July 2026.
• Consequently, in the fourth quarter of the fiscal year ending March 2026, ¥31 million will be recorded as accelerated depreciation of existing head office-related fixed assets, classified under operating expenses.
• Additionally, ¥123 million will be recorded as a special loss, comprising provisions for restoration costs of the current office, overlapping rent for new and existing offices, and other temporary relocation-related expenses.

The upward revision to the earnings forecast, although specific figures are not detailed in the provided text, generally suggests positive business performance expectations. The special losses and expenses associated with the HQ relocation represent a one-time cost in the current period, which is stated to be for future cost efficiency. The reassessment of deferred tax asset recoverability, impacting net income, could indicate a revised outlook on the company’s future taxable income potential.

• Ariake announced its consolidated financial results for the fiscal year ended March 31, 2026, with sales of JPY 66,957 million (+2.4% year-on-year), operating profit of JPY 11,782 million (+6.0% year-on-year), and net profit attributable to owners of parent of JPY 9,458 million (+15.3% year-on-year).
• Diluted earnings per share (EPS) for the fiscal year ended March 31, 2026, was JPY 296.96.
• The annual dividend for the fiscal year ended March 31, 2026, was JPY 180.00, including a year-end dividend of JPY 120.00 (an increase of JPY 50.00 from the previous year).
• For the fiscal year ending March 31, 2027, the company forecasts consolidated sales of JPY 69,232 million (+3.4% year-on-year), operating profit of JPY 11,251 million (-4.5% year-on-year), and net profit attributable to owners of parent of JPY 9,548 million (+1.0% year-on-year).
• The annual dividend for the fiscal year ending March 31, 2027, is projected to be JPY 300.00 (interim dividend of JPY 60.00, year-end dividend of JPY 240.00, including a special dividend of JPY 120.00), with a projected payout ratio of 98.5%.

Ariake achieved increased sales and profits for the fiscal year ended March 31, 2026. For the fiscal year ending March 31, 2027, while an increase in sales is projected, a decrease in operating profit is anticipated, alongside a significant dividend increase, including a special dividend for its 60th anniversary. This might be interpreted as the company’s commitment to shareholder returns.

• Denka Co., Ltd. reported consolidated net sales of 384,247 million yen for the fiscal year ended March 31, 2026, a 4.0% decrease year-on-year.
• Operating profit significantly increased by 82.0% to 26,225 million yen, and ordinary profit surged by 153.1% to 19,295 million yen compared to the previous fiscal year.
• Net profit attributable to owners of parent turned positive to 15,695 million yen, from a loss of △12,300 million yen in the prior fiscal year.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of 450,000 million yen (up 17.1% year-on-year), operating profit of 30,000 million yen (up 14.4%), ordinary profit of 20,000 million yen (up 3.7%), and net profit attributable to owners of parent of 16,000 million yen (up 1.9%).
• The annual dividend per share is 100.00 yen for both FY2026 (actual) and FY2027 (forecast).

The significant recovery in operating, ordinary, and net profits, leading to a return to profitability for FY2026, appears to be a key highlight despite a decline in net sales. This turnaround could be attributed to increased sales volume in the Electronic & Advanced Products segment and improved profitability in the Elastomer & Infrastructure Solutions segment due to the temporary suspension of manufacturing facilities at a U.S. subsidiary. The positive outlook for FY2027, projecting further revenue and profit growth, suggests that the company anticipates continued progress in its various business initiatives.

• ROHM Co., Ltd. reported consolidated net sales of JPY 481.1 billion for the full fiscal year 2025 (up 7.3% year-on-year) and an operating profit of JPY 10.8 billion (reversing a loss from the previous year), but a net loss of JPY 158.4 billion.
• The net loss in FY2025 was primarily due to impairment losses totaling JPY 163.2 billion, mainly on fixed assets related to the SiC business. This was attributed to factors such as a slowdown in BEV market growth, past over-investment, emergence of Chinese SiC device manufacturers, and a contraction of the SiC substrate external sales business.
• For the full fiscal year 2026, ROHM projects consolidated net sales of JPY 510.0 billion (up 6.0% year-on-year), an operating profit of JPY 30.0 billion (up 176.1% year-on-year), and a net profit of JPY 29.0 billion.
• The significant improvement in operating and net profit projected for FY2026 is primarily due to a substantial reduction in depreciation expenses resulting from the impairment losses recorded in FY2025.
• The company has commenced due diligence for integration with Toshiba D&S’s semiconductor business and continues discussions regarding integration with Mitsubishi Electric Power Device Business.

ROHM’s FY2025 results show increased net sales, but a net loss due to significant impairment losses in its SiC business. However, for FY2026, the company anticipates a substantial improvement in operating and net profits, projecting a return to profitability, primarily driven by reduced depreciation expenses stemming from the prior year’s impairment. This may suggest a recalibration of SiC business investment strategies and an adaptation to evolving market conditions.

• For the consolidated fiscal year ended March 2026, Goldwin reported a 3.9% increase in net sales, reaching JPY 137,516 million.
• Operating profit grew by 18.0% to JPY 25,859 million, and ordinary profit increased by 10.1% to JPY 33,904 million.
• Net profit attributable to owners of parent decreased by 1.4% to JPY 24,094 million.
• A stock split of 1-for-3 ordinary shares took effect on October 1, 2025.
• The consolidated forecast for the fiscal year ending March 2027 projects net sales of JPY 145,400 million (up 5.7% year-on-year), operating profit of JPY 26,100 million (up 0.9%), and net profit attributable to owners of parent of JPY 25,600 million (up 6.3%).

While Goldwin achieved growth in net sales, operating profit, and ordinary profit for FY2026/3, the slight decrease in net profit attributable to owners of parent may warrant attention. The 1-for-3 stock split implemented in October 2025 could be a relevant factor for investors evaluating per-share metrics and future dividend policies. The positive outlook for FY2027/3, forecasting increases in both revenue and profit, suggests an anticipated continuation of business growth.

• Tokyu Corporation released its financial results briefing material for the fiscal year ending March 2026 on May 13, 2026.
• Consolidated operating revenue for FY2025 reached ¥1,086.1 billion, representing a 3.0% (¥31.1 billion) increase year-on-year.
• Consolidated operating profit for FY2025 was ¥103.1 billion, a 0.3% (¥0.2 billion) decrease year-on-year, remaining largely flat. This was influenced by a reaction to large-scale property sales in the real estate sales business in the prior fiscal year.
• Net profit attributable to owners of parent for FY2025 increased by 9.3% (¥7.3 billion) year-on-year to ¥87.0 billion. This was primarily due to the recording of negative goodwill from additional investment unit acquisitions of Tokyu Real Estate Investment Corporation and an increase in equity method investment income.
• For FY2026, the company forecasts consolidated operating revenue of ¥1,140.0 billion (a 5.0% increase year-on-year) and operating profit of ¥110.0 billion (a 6.6% increase year-on-year).

The flat operating profit for FY2025, despite revenue growth, suggests that strong performance in some segments like hotels and resorts was partially offset by a decline in real estate sales. The significant rise in net profit, driven by one-off gains and equity method income, indicates the impact of specific financial strategies. The FY2026 forecast for increased revenue and operating profit may reflect confidence in sustained positive business conditions across various segments, requiring careful monitoring.

• CREO CO., LTD. announced its financial results briefing for the fiscal year ended March 2026 on May 13, 2026.
• For the fiscal year ended March 2026, consolidated net sales were 14,569 million JPY (YoY +0.3%), consolidated operating profit was 1,194 million JPY (YoY +5.7%), and profit attributable to owners of parent was 807 million JPY (YoY +15.9%).
• The Solution Services segment reported sales of 5,342 million JPY (YoY +5.6%) and segment profit of 1,019 million JPY (YoY +12.8%), driven by strong performance in recurring revenue services.
• For the fiscal year ending March 2027, the company forecasts consolidated net sales of 15,100 million JPY (YoY +3.6%), operating profit of 1,240 million JPY (YoY +3.8%), and profit attributable to owners of parent of 820 million JPY (YoY +1.5%), projecting renewed record high operating, ordinary, and net profits.
• The projected dividend per share for FY2027 is 56.00 JPY (YoY +1.00 JPY), targeting a new record high.

• The FY2026 results indicate a positive trend of increasing revenue and profit, primarily driven by the robust performance of the Solution Services segment’s recurring revenue business.
• The company’s FY2027 forecast anticipates continued growth and new record highs, with planned investments in AI-powered services potentially signaling future strategic direction.
• Investors may want to monitor the segment-specific performance, particularly in contract development and support services, where some declines were observed in the past fiscal year.

• Infroneer Holdings has announced its consolidated financial results for the fiscal year ended March 31, 2026.
• For the period, consolidated net sales were ¥1,124,878 million (up 32.7% year-on-year), and profit attributable to owners of the parent was ¥76,573 million (up 136.2% year-on-year). Business profit reached ¥84,134 million (up 73.3%), and profit before tax was ¥107,245 million (up 115.5%).
• The annual dividend per share for common stock for FY2026 was set at ¥120.00, comprising an interim dividend of ¥30.00 and a year-end dividend of ¥90.00. This is an increase from ¥60.00 in the previous fiscal year.
• The consolidated earnings forecast for the fiscal year ending March 31, 2027, projects net sales of ¥1,366,000 million (up 21.4% year-on-year) and profit attributable to owners of the parent of ¥60,000 million (down 21.6% year-on-year). An annual dividend of ¥100.00 for common stock is also forecast.
• During the fiscal year, 22 new companies, including Sumitomo Mitsui Construction Co., Ltd., became consolidated subsidiaries.

The current fiscal year results show significant growth across revenue and all profit metrics, with profit attributable to owners of the parent more than doubling from the previous year. This strong performance appears to be considerably influenced by the consolidation of Sumitomo Mitsui Construction Co., Ltd. While the forecast for the next fiscal year anticipates continued revenue growth, a projected decrease in profit could indicate strategic shifts or increased investments for future development.

• Nichias Corporation reported consolidated financial results for the fiscal year ended March 31, 2026 (FY2026), with net sales of ¥251.9 billion (down 1.8% year-on-year), operating profit of ¥37.0 billion (down 6.8%), ordinary profit of ¥39.4 billion (down 5.6%), and profit attributable to owners of parent of ¥31.6 billion (down 1.4%).
• By segment, Automotive Parts recorded an operating profit of ¥5.3 billion (up 17.0% year-on-year), and Building Materials recorded an operating profit of ¥2.7 billion (up 91.8%), both showing improved profitability. In contrast, High-Performance Products (semiconductor-related products) saw net sales of ¥39.1 billion (down 12.3%) and operating profit of ¥6.9 billion (down 32.5%).
• The effective tax rate for FY2026 was reduced to 18.0% due to a decrease in corporate tax from the definitive waiver of receivables related to a subsidiary (Kimitsu RW) and the recognition of deferred tax assets in NRI/Indonesia.
• For shareholder returns, the company implemented a total annual dividend of ¥164 per share for FY2026, marking 17 consecutive years of dividend increases, achieving a DOE (Dividend on Equity) of 5.1% and a total return ratio of 58.1%.
• The consolidated financial forecast for the fiscal year ending March 31, 2027 (FY2027) projects net sales of ¥270.0 billion (up 7.2% year-on-year), operating profit of ¥45.0 billion (up 21.6%), ordinary profit of ¥45.0 billion (up 14.3%), and profit attributable to owners of parent of ¥32.0 billion (up 1.2%). This forecast includes ¥2.5 billion for new core system construction costs and anticipates record-high performance driven by the recovery in the semiconductor market.

While FY2026 saw a decline in revenue and profit, improved profitability in the Automotive Parts and Building Materials segments, along with special gains/losses and reduced tax burden, appear to have supported net profit. For FY2027, the company anticipates record-high earnings, bolstered by a recovery in the semiconductor market; however, the inclusion of new core system construction costs in the profit plan may warrant attention. The continuation of shareholder return policies, including consecutive dividend increases, could also be a key point of interest for investors.

• Soliton Systems announced its consolidated financial results for Q1 FY2026 (January 1 to March 31, 2026), with net sales of ¥5,165 million (up 12.7% YoY), operating profit of ¥908 million (up 53.2% YoY), ordinary profit of ¥949 million (up 79.7% YoY), and net profit attributable to owners of parent of ¥685 million (up 71.1% YoY).
• By segment, the IT Security business recorded net sales of ¥4,850 million (up 12.6% YoY) and segment profit of ¥1,169 million (up 45.2% YoY). Strong sales of “NetAttest EPS” and alliances with IIJ and NEC were noted.
• The Video Communication business reported net sales of ¥267 million (up 18.1% YoY) but a segment loss of ¥60 million (compared to a loss of ¥36 million in the prior year). While “Smart-telecaster series” sales were solid, higher server prices were cited as an impact.
• The full-year consolidated earnings forecast for FY2026 remains unchanged, projecting net sales of ¥21,200 million, operating profit of ¥3,150 million, ordinary profit of ¥3,200 million, and net profit attributable to owners of parent of ¥2,350 million.
• The annual dividend forecast for FY2026 is ¥60.00 per share, comprising an interim dividend of ¥30.00 and a year-end dividend of ¥30.00, an increase from ¥54.00 in the previous year.

The company’s Q1 results showed significant year-on-year growth across all key financial metrics, suggesting a strong start to the fiscal year. The robust performance of the IT Security business appears to be a primary driver of this improved profitability. Investors may monitor the company’s progress against its unchanged full-year guidance and the implications of the increased dividend forecast.

• For the first quarter of the fiscal year ending December 2026 (January 1, 2026 – March 31, 2026), consolidated revenue reached ¥121.26 billion, marking an 8.6% increase compared to the same period in the previous year.
• Profit attributable to owners of the parent company amounted to ¥5.52 billion, representing a 27.0% increase year-on-year.
• Operating profit was ¥9.09 billion (up 10.6% YoY), and ordinary profit was ¥8.91 billion (up 17.0% YoY).
• Existing store sales increased by 6.0% compared to the prior year, with 5 new stores opened, 14 store conversions, and 50 store renovations completed during the first quarter.
• There are no revisions to the consolidated full-year performance forecast for the fiscal year ending December 2026, nor to the annual dividend forecast (¥16.00 at fiscal year-end, total ¥26.00).

Skylark Holdings’ Q1 FY2026 results show double-digit growth not only in revenue but also in operating profit, ordinary profit, and profit attributable to owners of the parent compared to the same period last year. This performance may suggest that the company’s strategies, including deepening store-centric management and promoting menu and promotion strategies, are contributing to solid existing store sales growth. The reaffirmation of full-year performance and dividend forecasts could also be a point of interest for investors evaluating the company’s future business trajectory.

• Segue’s consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 to March 31, 2026) showed revenue of ¥9,184 million (up 91.8% year-on-year), operating profit of ¥1,449 million (up 541.2%), ordinary profit of ¥1,418 million (up 482.6%), and profit attributable to owners of parent of ¥882 million (up 527.5%).
• The VAD business recorded sales from the final phase of a large-scale GSS project, while the System Integration business saw contributions from major service industry projects and university/government agency projects. The In-House Development business achieved significant revenue and profit growth through deliveries of large-scale RevoWorks projects for government agencies and continued growth in recurring revenue models.
• As of the end of the first consolidated accounting period, total assets stood at ¥23,095 million, net assets at ¥7,400 million, and the equity ratio at 30.8%, all showing increases compared to the end of the previous consolidated fiscal year.
• The full-year consolidated earnings forecast for the fiscal year ending December 2026 remains unchanged from the announcement on February 13, 2026, projecting revenue of ¥30,000 million (up 19.6% year-on-year) and operating profit of ¥2,300 million (up 24.0%).
• The projected annual dividend for the fiscal year ending December 2026 is ¥18.00 (interim ¥9.00, year-end ¥9.00), with no revisions from the latest publicly announced dividend forecast.

The substantial year-on-year increase in Q1 revenue and profits suggests strong performance, likely driven by significant contributions from large-scale VAD projects and robust growth in in-house developed businesses. The unchanged full-year forecast could imply that management views the strong Q1 results as generally in line with their internal plans. Improvements in asset conditions and an increased equity ratio may indicate a strengthening of the company’s financial foundation.

• Nippon Zeon Co., Ltd. has decided on a year-end dividend of ¥40 per share for the surplus, with a record date of March 31, 2026.
• This declared amount represents an increase from the most recent dividend forecast of ¥36 (announced April 25, 2025) and the actual dividend of ¥35 for the previous fiscal year (ended March 2025).
• Consequently, the total annual dividend for the fiscal year ended March 31, 2026, will be ¥76 per share, including an interim dividend of ¥36, marking a ¥6 increase compared to the previous fiscal year’s total dividend of ¥70.
• The total dividend amount is projected to be ¥7,707 million, indicating an increase from the previous fiscal year’s actual amount of ¥6,954 million.
• The dividend will be sourced from retained earnings, with an effective date of June 29, 2026.

The company’s dividend policy targets a Dividend on Equity (DOE) of 4% or more, and this increase appears to be a result of a comprehensive consideration of full-year business performance and financial position. The upward revision beyond the latest forecast may signal a strong commitment to shareholder returns. Furthermore, the continuous increase in the dividend amount from the previous year suggests an adherence to the company’s objective of providing stable shareholder distributions.

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

• For the consolidated fiscal year ended March 31, 2026, Round One reported revenue of ¥189,548 million (up 7.1% year-on-year), operating profit of ¥28,773 million (up 9.7% year-on-year), and profit attributable to owners of the parent of ¥16,621 million (up 7.9% year-on-year).
• The annual dividend for FY2026 was announced as ¥18.00 per share (compared to ¥16.00 in the previous fiscal year), with total dividends amounting to ¥4,727 million.
• The consolidated forecast for the fiscal year ending March 31, 2027, projects revenue of ¥219,090 million (up 15.6% year-on-year), operating profit of ¥33,050 million (up 14.9% year-on-year), and profit attributable to owners of the parent of ¥18,260 million (up 9.9% year-on-year).
• EBITDA for FY2026 was disclosed as ¥72,049 million, and adjusted EBITDA as ¥73,490 million.
• The company reported opening the Sendai Izumi store in Japan in December 2025, the Willowbrook store (Texas) in December 2025 and the Menlo Park store (New Jersey) in February 2026 in the U.S., and the Shenzhen Futian IN City Plaza store (Guangdong) in April 2025 in China.

Round One’s FY2026 results demonstrated increased revenue and profit, with the FY2027 forecast anticipating continued growth, which may be a key point for investors. The increase in the annual dividend from the previous fiscal year could suggest a proactive stance towards shareholder returns. The company’s strategic store openings and initiatives at existing locations, both domestically and internationally, appear to be contributing to its performance.

• SANKYO Co., Ltd. announced its consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026) on May 13, 2026.
• For the consolidated operating results, net sales were ¥179,211 million (down 6.6% year-on-year), operating profit was ¥62,484 million (down 15.1% year-on-year), and net income attributable to owners of parent was ¥46,752 million (down 13.4% year-on-year).
• The annual dividend for the fiscal year ended March 31, 2026, was ¥90.00 per share (compared to ¥100.00 in the previous fiscal year), with total dividends of ¥18,138 million and a consolidated dividend payout ratio of 39.5%.
• Regarding the consolidated financial position, total assets at the end of March 2026 were ¥287,458 million, net assets were ¥250,155 million, and the equity ratio was 86.5%.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of ¥174,000 million (down 2.9% year-on-year), net income attributable to owners of parent of ¥40,000 million (down 14.4% year-on-year), and basic earnings per share of ¥202.52.

The FY2026 results indicated a decline in net sales and all profit metrics compared to the previous fiscal year. While the company achieved top market share in its pachinko machine related business for the fourth consecutive period, broader market conditions may have influenced overall performance. The FY2027 forecast also anticipates further decreases in revenue and profit, suggesting that future market trends and new product strategies could be worth monitoring.

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

• Consolidated net sales for the fiscal year ended March 31, 2026, amounted to 83,725 million yen, marking a slight decrease of 0.3% year-on-year.
• During the same period, consolidated operating profit reached 9,431 million yen (up 3.5% year-on-year), and profit attributable to owners of parent was 6,741 million yen (up 9.5% year-on-year).
• The consolidated equity ratio improved to 48.1% at the end of March 2026, an increase of 5.8 percentage points from the previous fiscal year-end.
• The annual dividend for the fiscal year ended March 31, 2026, was 55.00 yen per share, which includes a commemorative dividend of 5.00 yen for the fiscal year-end.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of 91,000 million yen (up 8.7% year-on-year), operating profit of 9,500 million yen (up 0.7% year-on-year), and profit attributable to owners of parent of 6,100 million yen (down 9.5% year-on-year).

• The results for the fiscal year ended March 31, 2026, suggest a positive trend in profitability, as operating and net profits increased despite a marginal decline in net sales.
• The significant improvement in the consolidated equity ratio to 48.1% could indicate a strengthening of the company’s financial foundation, which may be a noteworthy point for investors.
• While the forecast for the fiscal year ending March 31, 2027, projects an increase in revenue, the anticipated decrease in profit attributable to owners of parent warrants close monitoring for further insights into its underlying causes.

• Obayashi Corporation announced its consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025, to March 31, 2026).
• Consolidated net sales totaled 2,586,258 million yen, a 0.2% decrease from the previous fiscal year.
• Consolidated operating profit reached 194,678 million yen (up 36.6%), consolidated ordinary profit was 204,195 million yen (up 34.1%), and profit attributable to owners of parent was 173,759 million yen (up 19.5%).
• The annual dividend for the fiscal year ended March 31, 2026, was increased to 88.00 yen from 81.00 yen in the previous year.
• For the fiscal year ending March 31, 2027, consolidated financial forecasts include net sales of 2,945,000 million yen (up 13.9%), operating profit of 180,000 million yen (down 7.5%), ordinary profit of 183,000 million yen (down 10.4%), and profit attributable to owners of parent of 157,000 million yen (down 9.6%). The annual dividend is forecast to be 94.00 yen.

The fiscal year 2026 results indicate a notable improvement in profitability, with significant increases across all profit metrics despite a slight dip in net sales. The continuous increase in annual dividends may suggest a strong commitment to shareholder returns. For fiscal year 2027, while sales are projected to grow, a decrease in profit is anticipated, making the balance between business growth and shareholder returns a point worth monitoring.

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

• For the third quarter of the fiscal year ending June 2026, consolidated net sales were ¥38,444 million (down 10.9% year-on-year), and operating profit was ¥2,420 million (down 34.7% year-on-year).
• Net profit attributable to owners of parent for the same period was ¥1,912 million, marking a 112.4% increase compared to the previous fiscal year’s third quarter.
• The year-end dividend forecast for the fiscal year ending June 2026 has been revised to ¥21.50 per share.
• The consolidated business forecast for the fiscal year ending June 2026 has been withheld, citing difficulties in calculating appropriate and rational figures due to rapid changes in the business environment and the impact of market conditions on the investment business.
• By segment, the VTuber business performed strongly, reporting net sales of ¥6,686 million (up 7.9% year-on-year) and operating profit of ¥892 million (up 60.6% year-on-year).

The significant increase in net profit attributable to owners of parent despite decreases in consolidated net sales and operating profit could suggest the positive influence of other financial factors, such as increased foreign exchange gains. The decision to withhold the full-year earnings forecast indicates the company’s assessment of high market volatility and uncertainty, particularly concerning its investment business. However, the upward revision of the year-end dividend forecast may be interpreted as a positive signal regarding shareholder returns.

• Encore Technologies’ non-consolidated financial results for the fiscal year ended March 31, 2026, reported net sales of ¥2,584 million (up 3.3% year-on-year), operating profit of ¥303 million (up 1.7%), and ordinary profit of ¥315 million (up 4.1%). However, net profit for the period decreased by 3.4% to ¥212 million.
• Regarding sales breakdown, while license sales fell below target, consulting service sales increased by 20.5% year-on-year, and cloud service sales grew by 39.7%. Maintenance and support service sales achieved a 96% renewal rate.
• The annual dividend for the fiscal year ended March 31, 2026, was ¥26.00 (year-end dividend of ¥26.00), an increase from ¥25.00 in the previous fiscal year. The company forecasts an annual dividend of ¥27.00 (year-end dividend forecast of ¥27.00) for the fiscal year ending March 31, 2027.
• For the fiscal year ending March 31, 2027, the company forecasts net sales of ¥2,800 million (up 8.3% year-on-year), operating profit of ¥320 million (up 5.6%), ordinary profit of ¥326 million (up 3.5%), and net profit of ¥223 million (up 5.2%).
• To address the growing customer preference for cloud-based solutions, the company launched “ESS AdminONE Cloud,” a cloud version of its privileged ID management product “ESS AdminONE,” in April 2026.

While net sales showed continued growth for the fiscal year ended March 31, 2026, the decrease in net profit is a notable point. This could be attributed to license sales falling short of the initial plan, though significant growth in consulting and cloud services suggests a shift in the company’s business structure. The forecast for increased sales and profits in the fiscal year ending March 31, 2027, positions the launch of the cloud-based product as a critical factor for investors to monitor regarding future earnings contributions.

• Advanced Media, Inc. (G-AMI) announced consolidated results for the fiscal year ended March 2026, with net sales reaching ¥7,063 million (up 6.0% year-on-year), ordinary income ¥1,558 million (up 1.2% year-on-year), and net income attributable to owners of parent ¥1,739 million (up 23.5% year-on-year), all marking record highs.
• Operating income for the period was ¥1,440 million, a slight decrease of 0.2% compared to the previous fiscal year.
• The year-end dividend for FY2026/3 was set at ¥33.50 per share (including a commemorative dividend of ¥2.50), an increase from ¥27.50 in the previous fiscal year.
• The company announced its decision to voluntarily adopt International Financial Reporting Standards (IFRS) from FY2027/3, providing consolidated earnings forecasts under IFRS, including revenue of ¥10,000 million and net income attributable to owners of parent of ¥1,100 million.
• In terms of consolidated cash flows for FY2026/3, cash flows from operating activities were a net inflow of ¥1,853 million, cash flows from investing activities were a net inflow of ¥1,146 million, and cash and cash equivalents at the end of the period totaled ¥5,489 million.

The FY2026/3 results show record highs in net sales, ordinary income, and net income attributable to owners of parent, suggesting strong business growth and improved profitability. While operating income saw a slight decrease, the increase in ordinary and net income could indicate positive contributions from non-operating income or extraordinary gains. The decision to voluntarily adopt IFRS for the next fiscal year may reflect the company’s commitment to aligning with international financial reporting standards.

• G-ULURU’s consolidated financial results for the full fiscal year ended March 31, 2026, exceeded the forecasts announced on February 13, 2026.
• Net sales reached JPY 7,751 million, marking a record high for 10 consecutive periods since the company’s listing.
• Profit attributable to owners of parent was JPY 737 million, surpassing the previous forecast (JPY 550-600 million) by 22.9% to 34.1%.
• The company announced a revision to its year-end dividend forecast for the fiscal year ended March 31, 2026, increasing it by JPY 1.00 from JPY 3.00 to JPY 4.00 per share.
• Per-share figures for both earnings and dividends are adjusted to reflect the 4-for-1 stock split that took effect on October 1, 2025.

The company’s stronger-than-expected consolidated earnings and the upward revision of its year-end dividend may suggest solid operational performance and a commitment to shareholder returns. The growth in net sales, attributed to the core NJSS business, alongside optimized revenue structure and efficient marketing investments, appears to have contributed to the profit improvements. The stated dividend policy, aiming for progressive dividends with a payout ratio of 15% or more, could be a point of interest for long-term investors.

• Hi-Crates Corporation announced its non-consolidated financial results for the second quarter of the fiscal year ending September 2026 on May 13, 2026.
• For the cumulative interim period (October 1, 2025 – March 31, 2026), the company reported net sales of ¥1,279 million (up 3.4% year-on-year), operating income of ¥379 million (up 10.0%), ordinary income of ¥424 million (up 3.3%), and net income for the interim period of ¥281 million (up 1.4%).
• The interim profit levels surpassed the revised Q2 forecasts announced on February 13, 2026, achieving a new record high.
• As of the end of the interim accounting period, total assets stood at ¥4,853 million, net assets at ¥4,361 million, and the equity ratio was 89.9%.
• The full-year forecast for FY2026 remains unrevised, projecting net sales of ¥2,484 million (up 3.2% year-on-year), operating income of ¥562 million (up 2.3%), ordinary income of ¥662 million (up 1.6%), and net income of ¥451 million (up 0.8%).

• For the first quarter of fiscal year 2026 (January 1 to March 31, 2026), net sales were ¥2.208 billion (down 16.7% year-on-year), and operating income was ¥759 million (down 32.3% year-on-year).
• Quarterly net income reached ¥601 million (down 22.6% year-on-year), with quarterly net income per share at ¥31.57.
• The company’s financial position shows total assets of ¥20.934 billion, net assets of ¥18.333 billion, and an equity ratio of 87.6%.
• The full-year earnings forecast and annual dividend forecast (¥100) for fiscal year 2026 remain unchanged from the most recently published figures.
• The company noted that while overall sales of COVID-19 diagnostic drugs decreased, shipments of rapid antigen test kits for simultaneous detection of COVID-19 and influenza viruses increased.

The decline in Q1 sales and profits year-on-year appears to be influenced by a normalization of COVID-19 related testing demand and a shift from gene testing to antigen testing. However, increased demand for combination test kits suggests adaptability to evolving market needs. The reaffirmation of full-year forecasts may indicate the company’s confidence in its strategic initiatives, including new product development such as the “QuickChaser CARBA RESIST-6 RUO” and “SmartGene H.pylori S” in the pipeline.

• For the fiscal year ended March 31, 2026, Uchiyama HD reported consolidated net sales of JPY 29,577 million (up 1.6% year-on-year), operating profit of JPY 551 million (up 164.6% year-on-year), and ordinary profit of JPY 851 million (up 50.6% year-on-year).
• Net profit attributable to owners of the parent decreased by 85.6% year-on-year to JPY 296 million.
• The annual dividend for FY2026/3 was set at JPY 10.00 per share (JPY 5.00 interim, JPY 5.00 year-end), consistent with the previous fiscal year. The company forecasts an annual dividend of JPY 10.00 per share for FY2027/3.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of JPY 30,084 million (up 1.7% year-on-year), operating profit of JPY 673 million (up 22.0% year-on-year), and net profit attributable to owners of the parent of JPY 293 million (down 0.8% year-on-year), with EPS of JPY 15.15.
• In its nursing care business, the company launched three new internal certification programs: “Excretion Care Specialist,” “Dementia Care Leader,” and “Care Creator,” and established “Rank 2 Up” certification.
• The company is advancing “INOVELBASE,” a next-generation nursing care research lab.

• Uchiyama HD’s substantial increase in operating profit for FY2026/3, despite a modest rise in net sales, may suggest an improvement in operational efficiency.
• However, the significant decrease in net profit attributable to owners of the parent could be influenced by specific factors, such as the absence of extraordinary gains recorded in the prior year, warranting close monitoring of contributing elements.
• The FY2027/3 forecast indicates continued growth in sales and operating profit, while net profit attributable to owners of the parent is projected to remain relatively stable, suggesting ongoing efforts toward sustainable profitability.

• Yokowo’s consolidated net sales for the fiscal year ended March 31, 2026, totaled ¥90,090 million, marking an 8.7% increase year-on-year.
• For the same period, consolidated operating profit was ¥5,016 million (up 18.7%), ordinary profit was ¥5,528 million (up 40.8%), and net profit attributable to owners of parent reached ¥3,886 million (up 74.4%).
• The annual dividend for FY2026/3 was ¥56.00 per share, comprising an interim dividend of ¥25.00 and a year-end dividend of ¥31.00.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of ¥97,000 million (up 7.7% year-on-year) and net profit attributable to owners of parent of ¥4,500 million (up 15.8% year-on-year).
• The projected annual dividend for FY2027/3 is ¥64.00 per share, with interim and year-end dividends each expected to be ¥32.00.

Yokowo’s strong performance in FY2026/3, with significant increases across all profit lines, particularly a 74.4% rise in net profit, indicates a robust period for the company. The explanatory notes suggest that growth was driven by increased sales across all segments, a substantial improvement in the CTC segment’s profit, and foreign exchange gains, reflecting favorable market conditions and operational efficiencies. The positive outlook for FY2027/3, including projected continued revenue and profit growth, suggests the company anticipates sustained momentum in its business operations and a favorable market environment.

• Hurxley Co., Ltd. announced its consolidated financial results for the fiscal year ended March 31, 2026, reporting net sales of ¥52,427 million (up 16.1% year-on-year), operating profit of ¥3,057 million (up 58.3%), ordinary profit of ¥3,003 million (up 44.3%), and profit attributable to owners of parent of ¥1,483 million (up 23.2%). All profit items set new record highs.
• By segment, the Logistics & Food Processing Business recorded net sales of ¥23,758 million (up 31.3% year-on-year), showing significant growth. The Store Asset & Solution Business also performed robustly with net sales of ¥14,331 million (up 17.6%) and operating profit of ¥2,228 million (up 28.4%).
• The annual dividend for the fiscal year ended March 31, 2026, was ¥28.00 per share (¥14.00 interim, ¥14.00 year-end), an increase from ¥26.00 in the previous fiscal year.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of ¥55,500 million (up 5.9% year-on-year), operating profit of ¥2,800 million (down 8.4%), ordinary profit of ¥2,600 million (down 13.4%), and profit attributable to owners of parent of ¥1,600 million (up 6.6%).
• An annual dividend of ¥30.00 per share (¥15.00 interim, ¥15.00 year-end) is planned for the fiscal year ending March 31, 2027.

The strong performance in FY2026, with record high sales and profits, suggests robust growth driven by key segments like Logistics & Food Processing and Store Asset & Solution. While the FY2027 forecast anticipates continued revenue growth, the projected decline in operating and ordinary profit may indicate expected increases in operating costs or strategic investments. The planned consecutive dividend increase could be seen as a positive sign regarding shareholder returns.

• Fujiseal International (7864) resolved to revise its dividend policy and adjust its FY2026 year-end dividend forecast at a Board of Directors meeting held on May 13, 2026.
• The revised dividend policy maintains a target consolidated payout ratio of 30% and includes a new provision to adjust for significant fluctuations in net profit caused by one-off or non-recurring factors.
• The year-end dividend forecast for FY2026 has been revised upward by ¥10, from the previously announced ¥36 (on February 12, 2026) to ¥46.
• Consequently, the full-year dividend forecast for FY2026 is expected to be ¥81, an increase of ¥10 from the previous forecast of ¥71.
• The reason for the policy change is to ensure stable and continuous dividends based on core earnings power, avoiding significant fluctuations driven by short-term, temporary profit variations.

The new dividend policy, by adjusting for one-off profit fluctuations, may suggest the company’s intent to maintain a more stable dividend level in an environment of potentially volatile earnings. The removal of DOE (Dividend on Equity) as a specific consideration from the policy could indicate a shift towards prioritizing the payout ratio as a key metric for capital efficiency. This upward revision in the annual dividend forecast, alongside the new policy, can be seen as a proactive move towards shareholder returns while emphasizing stability.

• SDS Holdings Co., Ltd. resolved on May 13, 2026, to fully acquire HARUMI TRUST Co., Ltd. (HT Co.), in which it currently holds a 35% stake.
• The company will acquire an additional 650 shares at a price of JPY 6.5 million, resulting in 100% ownership of HT Co.’s 1,000 shares.
• This transaction is classified as a related-party transaction, as SDS Holdings’ Chairman, Katsuhide Yoshino, held a 65% stake in HT Co., and was approved following deliberation by a compliance committee.
• HT Co.’s business scope includes renewable energy, real estate, investment, as well as the acquisition, holding, management, and trading of cryptocurrencies (Bitcoin, Ethereum, etc.), precious metals, and financial instruments.
• SDS Holdings positions M&A and investment strategies as core activities for its group investment company, with cryptocurrency acquisition aimed at payment processing for its AI data center business, and minority and equity investments (M&A) intended for portfolio diversification and new revenue opportunities.

The full acquisition of HARUMI TRUST by SDS Holdings may suggest an intent to accelerate and consolidate its M&A and investment strategies, particularly in the cryptocurrency and broader investment sectors. The mention of cryptocurrency acquisition for AI data center payment processes could indicate a strategic move to integrate digital assets into core operations. Furthermore, the explicit disclosure and compliance committee review for this related-party transaction highlight the company’s efforts towards transparency in governance.

• For the nine months ended March 31, 2026, consolidated net sales reached ¥4,318 million (up 13.6% year-on-year), operating income was ¥674 million (up 43.6% year-on-year), and ordinary income was ¥687 million (up 34.7% year-on-year).
• Net income attributable to parent shareholders for the cumulative period was ¥597 million (up 98.5% year-on-year).
• Three companies, Asuka Medical Co., Ltd., See Co., Ltd., and Caltech Co., Ltd., were newly included in the scope of consolidation during this cumulative period.
• The equity ratio at the end of the third quarter of fiscal year 2026 improved to 51.8%, from 44.9% at the end of fiscal year 2025.
• The refinancing for LBO-related loans was completed in December 2025.

The company’s performance for the quarter, with significant year-on-year growth across net sales and all profit metrics, particularly the near-doubling of net income attributable to parent shareholders, suggests the M&A strategy and existing business growth are yielding positive results. The reported operational efficiencies from group management may also be contributing to the improved profitability. Furthermore, the enhancement in the equity ratio and the completion of loan refinancing could indicate a strengthening financial position, potentially supporting future expansion plans.

• Hibiya Set Co., Ltd. has resolved to distribute surplus dividends for the fiscal year ended March 31, 2026, with the record date set as March 31, 2026.
• The year-end dividend per share for FY2026 (post-stock split) is ¥50, resulting in an annual dividend of ¥75 when combined with the interim dividend of ¥25. This aligns with the dividend forecast announced on February 10, 2026, and represents an effective increase from the previous fiscal year’s (FY2025) annual dividend of ¥50 (post-stock split equivalent).
• For FY2027 (April 1, 2026, to March 31, 2027), the company forecasts an interim and year-end dividend of ¥55 per share each (ordinary dividend ¥50, commemorative dividend ¥5), bringing the total annual dividend forecast to ¥110.
• The commemorative dividend, consisting of an additional ¥5 each for interim and year-end, is planned to celebrate the company’s 60th anniversary in July 2026.
• All stated dividend amounts are presented post-stock split, following a 1-for-2 stock split of common shares effective April 1, 2026.

This announcement indicates that the annual dividend for FY2026 has been set at ¥75 (post-stock split), representing an effective increase from the prior year. Furthermore, the company forecasts an annual dividend of ¥110 (post-stock split) for FY2027, including a commemorative dividend for its 60th anniversary, which could suggest a strong commitment to continuous shareholder returns. The implementation of a commemorative dividend, in particular, may be viewed by investors as a noteworthy initiative by the company to express gratitude to shareholders as it reaches a significant milestone.

• Toray announced its consolidated financial results for the fiscal year ended March 31, 2026, reporting revenue of JPY 2,585.1 billion, a 0.9% increase year-on-year.
• Business profit decreased by 0.6% to JPY 141.9 billion, and operating profit declined by 23.7% to JPY 97.2 billion. This decrease in operating profit was attributed primarily to impairment losses recorded in the battery separator film business of its Korean subsidiary.
• Profit attributable to owners of the parent increased by 2.1% year-on-year to JPY 79.5 billion.
• The annual dividend for FY2026 was raised to JPY 20.00 (JPY 10.00 interim, JPY 10.00 year-end) from JPY 18.00 in FY2025.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated revenue of JPY 2,830.0 billion (up 9.5% year-on-year), business profit of JPY 160.0 billion (up 12.7%), and profit attributable to owners of the parent of JPY 90.0 billion (up 13.2%).

• While consolidated revenue saw a modest increase and operating profit decreased due to impairment losses, the growth in profit attributable to owners of the parent suggests that other factors, such as a significant positive swing in share of profit (loss) of investments accounted for using the equity method from a negative JPY 2.35 billion to a positive JPY 21.53 billion, supported the final profit figure.
• The increase in the annual dividend for FY2026 and the forecast for a further substantial increase, including a commemorative dividend, for FY2027 may indicate a strengthened focus on shareholder returns.
• The positive outlook for FY2027, projecting growth across all key profit metrics, will be a significant point for investors to monitor for future performance trends.

• Mitsui Ocean Development & Engineering Co., Ltd. (MODEC) announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 to March 31, 2026).
• For the first quarter, revenue increased by 23.4% year-on-year to US$1,077,078 thousand, and operating profit rose by 63.2% to US$122,741 thousand.
• Profit attributable to owners of the parent was US$99,144 thousand, marking a 78.2% increase year-on-year, with basic earnings per share at US$1.45.
• The full-year consolidated earnings forecast for fiscal year 2026 remains unchanged, projecting revenue of US$4,600,000 thousand (up 0.4% year-on-year), operating profit of US$460,000 thousand (up 5.1% year-on-year), and profit attributable to owners of the parent of US$370,000 thousand (up 2.6% year-on-year).
• Order intake for the first quarter totaled US$129,315 thousand, a 97.3% decrease from the same period last year, while order backlog stood at US$17,859,461 thousand, down 3.9% from the end of the previous fiscal year.

MODEC’s first-quarter results show significant increases in revenue and various profit metrics, largely driven by the steady progress of existing FPSO construction projects. However, the substantial year-on-year decline in new order intake could be a point of consideration when evaluating future performance. The company’s decision to maintain its full-year forecast may suggest that current project progress is aligning with their expectations.

• Shinsho Corporation reported consolidated financial results for the fiscal year ended March 31, 2026, with net sales of ¥608,142 million (down 1.5% year-on-year), operating profit of ¥11,577 million (down 12.4%), ordinary profit of ¥11,022 million (down 6.3%), and profit attributable to owners of parent of ¥8,286 million (down 3.2%).
• As of March 31, 2026, the consolidated financial position showed total assets of ¥383,623 million, net assets of ¥100,982 million, and an equity ratio of 25.8%.
• The annual dividend for the fiscal year ended March 31, 2026, was ¥106.00 per share (interim ¥53.00, year-end ¥53.00), adjusted for the stock split (1-for-3 on April 1, 2025).
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of ¥686,000 million (up 12.8% year-on-year), operating profit of ¥12,100 million (up 4.5%), ordinary profit of ¥11,500 million (up 4.3%), and profit attributable to owners of parent of ¥9,000 million (up 8.6%).
• The forecast for the annual dividend for the fiscal year ending March 31, 2027, is ¥130.00 per share (interim ¥65.00, year-end ¥65.00), which includes a commemorative dividend of ¥13.00 for the year-end.

The decline in results for the fiscal year 2026 may be attributed to a generally decelerating global economy and subdued domestic demand. However, the projected increase in both revenue and profits for the fiscal year 2027 suggests an anticipated recovery in business conditions or the expected fruition of strategic initiatives. The planned increase in the dividend for fiscal year 2027 could also indicate the company’s commitment to shareholder returns, which investors may find noteworthy.

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

• **Q1 FY2026 Consolidated Results**: Kuraray reported net sales of JPY 200,913 million (up 3.1% year-on-year), while operating income decreased by 20.3% to JPY 14,870 million, ordinary income fell by 22.9% to JPY 13,745 million, and net profit attributable to owners of parent declined by 35.0% to JPY 7,802 million.
• **Full-Year Consolidated Forecast**: The full-year consolidated performance forecast for FY2026 remains unchanged, projecting net sales of JPY 850,000 million, operating income of JPY 70,000 million, ordinary income of JPY 64,000 million, and net profit attributable to owners of parent of JPY 40,000 million.
• **Annual Dividend Forecast**: The projected annual dividend for FY2026 is JPY 64.00 per share (JPY 32.00 for Q2, JPY 32.00 for year-end), which includes a regular dividend of JPY 54.00 and a commemorative dividend of JPY 10.00, with no changes from the most recently announced forecast.
• **Segment Performance**: The Vinyl Acetate segment saw increased sales but decreased operating income. The Isoprene segment reported increased sales and operating income. The Functional Materials segment achieved increased sales and operating income. The Fibers segment moved from an operating loss to a profit with increased sales.
• **Forecast Assumption**: The consolidated earnings forecast has not been revised at this time due to the difficulty in establishing a reasonable outlook given the worsening situation in the Middle East. The impact of the share buyback, which concluded on March 23, 2026, has been incorporated into the “EPS” forecast.

While Kuraray achieved increased net sales in Q1, a significant decrease in key profit metrics year-on-year could indicate challenges in operational efficiency and pricing strategies, potentially exacerbated by global uncertainties. The decision to maintain the full-year forecast, despite the Q1 profit decline and the mention of Middle East uncertainties, may suggest management anticipates a recovery in later quarters or has already factored in these challenges. Investors may wish to monitor future updates regarding the impact of geopolitical factors and the progress of profit recovery in specific segments.

• Sumitomo Chemical Co., Ltd. announced on May 13, 2026, the signing of a share exchange agreement to make Koei Chemical Co., Ltd. a wholly owned subsidiary.
• The share exchange will be conducted as a simplified share exchange, with Sumitomo Chemical as the wholly owning parent company. The effective date is scheduled for August 1, 2026, and Koei Chemical is expected to be delisted from the Tokyo Stock Exchange Standard Market on July 30, 2026 (last trading day: July 29, 2026).
• Sumitomo Chemical first made a capital investment in Koei Chemical in 1951, making it a consolidated subsidiary in 1954. As of today, Sumitomo Chemical owns 55.74% (2,731,400 shares) of Koei Chemical’s common stock.
• The purpose of the wholly owned subsidiary conversion includes technological development through combining both companies’ expertise, expansion of Sumitomo Chemical’s advanced small-molecule CDMO business utilizing Koei Chemical’s multi-plants, and accelerated/efficient business operations through integrated management.
• Koei Chemical established a special committee on November 17, 2025, to ensure the fairness of the share exchange.

This move by Sumitomo Chemical to fully integrate its long-standing consolidated subsidiary, Koei Chemical, suggests a strategic effort to streamline group management and maximize synergistic effects. The planned utilization of Koei Chemical’s multi-plants to strengthen Sumitomo Chemical’s advanced small-molecule CDMO business could be a key component of its future growth strategy. Koei Chemical’s general shareholders, receiving Sumitomo Chemical shares, may gain the opportunity to benefit from the increased corporate value of the combined group post-integration.

• Nippon Shokubai Co., Ltd. announced its consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026).
• Consolidated revenue for the period was ¥399,898 million, a 2.3% decrease from the previous fiscal year. Operating profit was ¥17,530 million, down 8.0%, and profit for the period attributable to owners of the parent was ¥16,764 million, a decrease of 3.6%.
• Key factors for the revenue decrease included a decline in selling prices due to overseas product market conditions and raw material prices, despite an increase in sales volume. The profit decline was primarily attributed to a shift from inventory valuation gains in the previous year to losses in the current period, along with increases in manufacturing fixed costs and selling, general, and administrative expenses.
• The annual dividend for the fiscal year ended March 31, 2026, was announced as ¥113.00 per share (interim ¥50.00, year-end ¥63.00).
• The consolidated earnings forecast for the fiscal year ending March 31, 2027 (April 1, 2026 – March 31, 2027), is currently undetermined due to the difficulty in reasonably calculating the impact of heightened tensions in the Middle East.

The decline in revenue and profit appears to stem from a combination of fluctuating product market conditions, raw material prices, and inventory valuation effects. Maintaining the annual dividend at a similar level to the previous year may indicate the company’s commitment to shareholder returns. The undetermined outlook for the next fiscal year highlights the potential impact of geopolitical uncertainties in the Middle East, which investors may find worth monitoring.

• Mitsui Chemicals announced its consolidated financial results for the fiscal year ended March 31, 2026. Revenue was JPY 1,668,754 million (down 7.8% year-on-year), profit attributable to owners of the parent was JPY 34,378 million (up 6.6% year-on-year), and core operating profit was JPY 100,028 million (down 0.9% year-on-year).
• Basic earnings per share for FY2026/3 were JPY 91.62.
• The total annual dividend for FY2026/3, without considering the stock split, was JPY 150.00 per share.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated revenue of JPY 1,900,000 million (up 13.9% year-on-year) and profit attributable to owners of the parent of JPY 45,000 million (up 30.9% year-on-year).
• The forecasted annual dividend for FY2027/3, on a post-stock split basis, is JPY 75.00 per share.
• A 2-for-1 stock split of common shares was implemented effective January 1, 2026.

For the fiscal year 2026/3, the company reported a decrease in revenue and core operating profit, yet an increase in profit attributable to owners of the parent, which may suggest impacts from changes in profit structure or non-recurring items. The optimistic forecast for fiscal year 2027/3, projecting significant increases in both revenue and profit, could indicate the company’s expectation of business environment recovery or successful initiatives. The 2-for-1 stock split, effective January 1, 2026, might aim to reduce the per-share investment amount, potentially broadening the investor base.

• Koei Chemical Co., Ltd. reported for the fiscal year ended March 2026: net sales of ¥17,009 million (down 15.0% year-on-year), operating profit of ¥364 million (down 35.6% year-on-year), and ordinary profit of ¥255 million (down 28.3% year-on-year).
• Net income resulted in a loss of ¥5,135 million (compared to a profit of ¥288 million in the previous fiscal year) due to the recording of an impairment loss.
• The company’s financial position shows total assets decreased to ¥29,869 million (down ¥5,349 million from the previous fiscal year-end) and net assets decreased to ¥16,089 million (down ¥5,526 million). The equity ratio declined from 61.4% to 53.9%.
• The annual dividend for the fiscal year ended March 2026 was ¥80.00 (compared to ¥100.00 in the previous fiscal year).
• The company plans a share exchange with Sumitomo Chemical Co., Ltd. and is scheduled to be delisted on July 30, 2026. Consequently, no earnings or dividend forecast for the fiscal year ending March 2027 has been announced.

The significant net loss, primarily driven by an impairment loss and decreased sales in pharmaceutical/agrochemical-related and optical material products, suggests challenges in core business areas. The decline in the equity ratio also indicates a weakening of the financial structure. The upcoming delisting due to the share exchange with Sumitomo Chemical signifies a major corporate transition, which will alter its status in the public market.

• Sumitomo Pharma reported consolidated results (core basis) for FY2025 (ending March 2026), with revenue of ¥453.3 billion (up 13.7% year-on-year), core operating profit of ¥105.9 billion (up 145.4% year-on-year), and profit attributable to owners of parent of ¥106.9 billion (up 352.2% year-on-year).
• The increase in revenue was primarily driven by the growth of key products Orgovyx and Gemtesa in North America, as well as sales milestone revenue.
• Selling, general and administrative expenses, and research and development expenses decreased due to business structure improvement effects, partial divestiture of the Asia business, and reorganization of the regenerative medicine and cell therapy business.
• For FY22026 (ending March 2027), the company forecasts consolidated results (core basis) of ¥540.0 billion in revenue (up 19.1% year-on-year), ¥91.0 billion in core operating profit (down 14.1% year-on-year), and ¥77.0 billion in profit attributable to owners of parent (down 27.9% year-on-year).
• The company announced a change in its consolidated segment reporting structure from FY2026, transitioning from regional segments (Japan/North America/Asia) to a single Pharmaceutical Business segment.

• FY2025 saw substantial profit growth, which appears to be a result of strong performance from key products and the positive impact of business structural reforms addressing previous challenges.
• While the FY2026 forecast anticipates continued revenue growth, the projected decline in core operating profit may reflect increased research and development expenses and the absence of one-time gains from the Asia business divestiture seen in the prior year.
• The company’s “Boost 2028” strategy, focusing on rapid launch of two oncology products, fostering next-generation growth engines, and strengthening its financial base, indicates key areas for future performance monitoring.

• YAMADA Consulting Group Co., Ltd. reported consolidated net sales of ¥26,711 million (+17.3% year-on-year) and gross profit of ¥20,500 million (+5.5% year-on-year) for the fiscal year ended March 2026, both reaching record highs.
• For the same period, operating profit was ¥3,740 million (-9.4% year-on-year) and ordinary profit was ¥3,712 million (-9.4% year-on-year). However, profit attributable to owners of parent increased to ¥2,895 million (+0.4% year-on-year).
• The decline in operating profit was attributed to a slowdown in the M&A advisory business and an increase in personnel expenses (up ¥1,220 million) due to hiring (net increase of 87 employees) and salary raises for talent acquisition. The increase in profit attributable to owners of parent was partly due to the recognition of negative goodwill from real estate M&A in the real estate investment business.
• For the fiscal year ending March 2027, the company forecasts consolidated net sales of ¥26,900 million (+0.7% year-on-year), operating profit of ¥4,500 million (+20.2% year-on-year), and profit attributable to owners of parent of ¥2,900 million (+0.1% year-on-year).
• Regarding shareholder returns, the company announced the continuation of its “progressive dividend” policy, introduced from the fiscal year ended March 2025, aiming to increase or maintain annual dividends. A consolidated dividend payout ratio of 50% is a guideline. The company also announced the discontinuation of its medium-term management plan and the formulation of a long-term management vision (10-year strategy).

For the fiscal year ended March 2026, while net sales and gross profit reached record highs, operating profit declined due to factors such as a slowdown in the M&A business and increased personnel costs. However, the final profit attributable to owners of parent saw an increase, partly supported by the recognition of negative goodwill from real estate M&A. The forecast for the fiscal year ending March 2027 projects a recovery in operating profit, suggesting that future business developments will be worth monitoring. The commitment to a progressive dividend policy may indicate a strong focus on shareholder returns.

• For the fiscal year ended March 31, 2026, Koito Manufacturing Co., Ltd. reported consolidated net sales of JPY 947.610 billion (up 3.4% year-on-year), operating profit of JPY 51.438 billion (up 14.6%), and ordinary profit of JPY 58.791 billion (up 19.6%).
• Profit attributable to owners of parent decreased by 64.2% year-on-year to JPY 16.539 billion, primarily due to the recording of extraordinary losses (impairment losses) related to its LiDAR and China businesses.
• In regional segments, sales increased in Japan, the Americas, and Asia, but decreased in China and Europe. While operating profit was positive across all regions, the Americas segment saw a 33.1% year-on-year decrease in operating profit.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of JPY 933.0 billion (down 1.5% year-on-year), operating profit of JPY 60.0 billion (up 16.6%), ordinary profit of JPY 65.5 billion (up 11.4%), and profit attributable to owners of parent of JPY 39.5 billion (up 138.8%).
• The annual dividend for FY2026 was JPY 56.00 per share (interim JPY 28.00, year-end JPY 28.00), and the company projects an annual dividend of JPY 58.00 per share (interim JPY 28.00, year-end JPY 30.00) for FY2027.

• Koito Manufacturing’s FY2026 financial results present a mixed picture, where robust growth in net sales and operating profit was overshadowed by significant impairment losses in its LiDAR and China businesses, leading to a substantial decline in net profit.
• The underlying operational performance, despite some regional variations, shows an improving trend. The substantial recovery projected in net profit for FY2027 suggests an anticipated rebound as the impact of the impairment losses subsides.
• The forecast for a significant profit improvement in the next fiscal year, despite a projected decrease in net sales, could indicate continued rationalization efforts and the one-off nature of the recent extraordinary losses.

• NIPPON PAPER PAPALPU TRADING CO., LTD. (Kamiparu Sho) announced its consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026), on May 13, 2026.
• For the fiscal year ended March 2026, consolidated revenue increased by 9.4% year-over-year to ¥606,779 million. However, operating profit decreased by 28.0% to ¥10,848 million, ordinary profit fell by 31.2% to ¥10,887 million, and profit attributable to owners of parent declined by 37.6% to ¥4,720 million.
• In the overseas wholesale segment, ordinary profit turned to a loss of ¥549 million, down from ¥3,195 million in the prior year. The primary factors cited were the softening paper and pulp market in Europe and the U.S., persistently high logistics costs and energy prices, and inventory valuation losses recorded by some overseas subsidiaries.
• The annual dividend for the fiscal year ended March 2026 was set at ¥34.00 per share (including a year-end dividend of ¥20.00).
• For the fiscal year ending March 2027, the company forecasts consolidated operating profit of ¥15,500 million (up 42.9% year-over-year), ordinary profit of ¥15,000 million (up 37.8%), and profit attributable to owners of parent of ¥8,000 million (up 69.5%), projecting substantial profit growth across all categories.

While the company achieved revenue growth in the fiscal year ended March 2026, key profit figures decreased from the previous period. The overseas wholesale segment notably shifted to a loss, reportedly influenced by market softening in Europe and the U.S., rising costs, and inventory write-downs. However, the substantial profit recovery projected for the fiscal year ending March 2027 suggests an anticipated improvement in these conditions or the effectiveness of company measures, which investors may find worth monitoring.

• For the first half of the fiscal year ending September 2026 (2Q cumulative), MTI Ltd. reported consolidated net sales of JPY 15,666 million (+5.2% YoY), operating profit of JPY 1,679 million (+2.4% YoY), and net profit attributable to owners of the parent of JPY 1,863 million (+6.1% YoY).
• First-half results exceeded initial forecasts across all key metrics: net sales, operating profit, ordinary profit, and net profit attributable to owners of the parent.
• The full-year forecast has been revised upwards for net sales to JPY 31,500 million (+1.6% from initial forecast), ordinary profit to JPY 3,400-3,800 million (+8.6-9.7%), and net profit attributable to owners of the parent to JPY 2,560-2,840 million (+38.5-44.6%). The operating profit forecast remains unchanged at JPY 3,100-3,500 million.
• The Healthcare segment recorded net sales of JPY 3,927 million (+24.4% YoY), showing significant growth, but reported an operating loss of JPY 253 million (compared to an operating loss of JPY 86 million in the prior year), primarily due to system development costs and “RunaRuna Mirai Support” expenses.
• The School DX segment achieved increased sales and profits, with net sales of JPY 2,240 million (+13.2% YoY) and operating profit of JPY 410 million (+50.7% YoY).

MTI’s 2Q FY2026 results highlight the growth momentum in its Healthcare and School DX segments, which appear to be key drivers of overall performance. The upward revision of full-year sales, ordinary profit, and net profit forecasts following better-than-expected first-half results could be viewed positively by investors. However, the continued operating loss in the Healthcare segment, despite robust sales growth, may suggest a focus on strategic investments for future growth, making its path to profitability a point for ongoing observation.

• For the fiscal year ended March 31, 2026 (FY2026), VERITE Co., Ltd. (non-consolidated) reported net sales of ¥9,441 million, an 18.8% increase year-on-year, but operating profit decreased by 20.0% to ¥700 million and net profit fell by 43.4% to ¥322 million.
• At the end of FY2026, total assets increased by ¥933 million to ¥8,485 million, while net assets decreased by ¥246 million to ¥4,220 million, leading to a capital adequacy ratio of 49.7% (compared to 59.2% at the end of the previous fiscal year).
• Cash flow from operating activities saw a significant increase of ¥1,169 million (compared to an increase of ¥407 million in the previous fiscal year), bringing cash and cash equivalents at period-end to ¥3,060 million.
• The annual dividend for FY2026 was ¥20.98 per share. The company has announced a forecast for the annual dividend in FY2027 of ¥6.00 per share.
• For the fiscal year ending March 31, 2027 (FY2027), the company projects net sales of ¥9,694 million (up 2.7% year-on-year), operating profit of ¥800 million (up 14.1%), and net profit of ¥418 million (up 29.8%).

In FY2026, VERITE experienced increased sales but a decline in profits. However, the substantial rise in cash flow from operating activities and the higher cash balance at year-end could suggest enhanced operational cash generation. The company’s forecast for revenue and profit growth in FY2027, along with the adjustment in the dividend forecast, may be key factors for investors to consider.

• Valor Holdings Co., Ltd. has decided to increase its year-end dividend for the fiscal year ending March 2026.
• The per-share dividend will be JPY 39.00, an increase of JPY 4.00 from the most recent forecast (announced on February 12, 2026) of JPY 35.00.
• This adjustment results in an annual dividend of JPY 74.00 per share.
• The record date for this dividend is March 31, 2026, with an effective date of June 11, 2026.
• The dividend source is retained earnings, with a total dividend amount of JPY 2,063 million.

This dividend increase aligns with the company’s stated policy of prioritizing stable and continuous returns to shareholders. The decision, based on a comprehensive assessment of business performance and financial health for the fiscal year ending March 2026, may suggest a positive outlook on the company’s operational strength. Investors might consider this move as an indication of Valor Holdings’ commitment to its shareholder return policy.

• Masaru Co., Ltd. announced its consolidated financial results for the second quarter of the fiscal year ending September 2026 (interim period: October 1, 2025, to March 31, 2026).
• Consolidated net sales were ¥5,146 million, a 10.0% decrease year-on-year. However, operating profit increased by 5.8% to ¥444 million, ordinary profit rose by 4.9% to ¥452 million, and net profit attributable to owners of parent increased by 5.7% to ¥291 million.
• By segment, construction business sales were ¥4,323 million (down 14.0% YoY), and equipment installation business sales were ¥823 million (up 19.1% YoY).
• As of the end of the interim period, consolidated total assets were ¥8,713 million (down ¥93 million from the previous fiscal year-end), and net assets were ¥5,481 million (up ¥204 million), leading to an equity ratio improvement to 62.9% (from 59.9% at the previous fiscal year-end).
• Both the full-year consolidated earnings forecast for the fiscal year ending September 2026 and the annual dividend forecast (¥110.00 at fiscal year-end) remain unchanged from the latest publicly announced figures.

The increase in profit despite a decline in net sales may suggest the company’s focus on profitability and balancing quality with earnings in project execution. The improvement in the equity ratio could indicate a strengthening of the company’s financial stability, which may be a point of interest for investors.

• For the consolidated fiscal year ended March 31, 2026, Mitsukoshi Isetan Holdings reported net sales of ¥545,626 million (down 1.8% year-on-year), while net profit attributable to owners of parent significantly increased by 44.1% to ¥76,096 million.
• Operating profit rose by 4.9% to ¥80,020 million, but ordinary profit decreased by 1.7% to ¥86,587 million.
• The annual dividend for FY2026/3 was set at ¥70.00 per share (up from ¥54.00 in the previous year), with a further increase to ¥80.00 per share projected for FY2027/3.
• The consolidated forecast for FY2027/3 includes net sales of ¥560,000 million (up 2.6% year-on-year) and net profit attributable to owners of parent of ¥61,500 million (down 19.2% year-on-year).
• As of March 31, 2026, the equity ratio improved to 50.8% (from 49.9% at the end of the previous fiscal year), and cash and cash equivalents at the end of the period increased to ¥77,343 million.

• The significant increase in net profit for FY2026/3, despite a slight decline in net sales, may suggest an improvement in profitability through operational efficiency or changes in business structure.
• While the FY2027/3 forecast shows an expected decrease in net profit, it is noted that the impact of treasury stock acquisition is considered in the EPS projection.
• The progressive dividend policy and strengthened financial position, indicated by an improved equity ratio and higher cash balances, could be viewed as positive indicators for investor returns and future strategic flexibility.

• Mitsubishi Chemical Group announced its consolidated results for the fiscal year ended March 31, 2026 (continuing operations). Net sales were JPY 3,703,988 million (down 6.2% year-on-year), and Core Operating Profit was JPY 225,002 million (down 1.7% year-on-year).
• During the same period, Operating Profit amounted to JPY 30,078 million (down 78.8% year-on-year), and Net Profit attributable to owners of the parent was JPY 11,829 million (down 73.7% year-on-year).
• For the fiscal year ending March 31, 2027 (continuing operations), the company forecasts Net Sales of JPY 3,800,000 million (up 2.6% year-on-year) and Core Operating Profit of JPY 305,000 million (up 35.6% year-on-year).
• The forecast for Operating Profit for the same period is JPY 300,000 million (up 897.4% year-on-year), and Net Profit attributable to owners of the parent is JPY 127,000 million (up 973.6% year-on-year).
• The annual dividend per share for FY2026 was JPY 32.00, with the same amount also forecast for FY2027.

The fiscal year ended March 31, 2026, saw a decrease in net sales and significant declines in operating profit and net profit attributable to owners of the parent, with reported figures pertaining to continuing operations excluding divested businesses. Investors may note the substantial recovery projected for fiscal year 2027 across key profit metrics, which could suggest an anticipated improvement in business conditions or the impact of strategic adjustments. The continuity of the annual dividend also stands as a point of interest.

• **Consolidated results showed increased revenue and profit for the second consecutive period.** For the fiscal year ended March 2026, consolidated ordinary revenue was JPY 18,046 million (up JPY 3,186 million year-on-year), consolidated ordinary profit was JPY 2,590 million (up JPY 703 million), and net profit attributable to parent company shareholders was JPY 1,480 million (up JPY 147 million).
• **Consolidated capital adequacy ratio improved.** The preliminary figure stood at 8.60%, an increase of 0.40 percentage points from the previous fiscal year.
• **Non-consolidated gross operating profit and core net operating profit increased.** Gross operating profit reached JPY 10,357 million (up JPY 800 million year-on-year), and core net operating profit was JPY 2,422 million (up JPY 553 million). Interest income was JPY 10,389 million (up JPY 662 million), and fee and commission income was JPY 147 million (up JPY 194 million).
• **Credit costs and non-performing loans increased.** Non-consolidated credit costs rose to JPY 1,910 million (up JPY 989 million year-on-year), and the amount of claims disclosed under the Financial Reconstruction Act increased to JPY 18,245 million (up JPY 5,508 million). The ratio of disclosed claims to total loans increased by 0.95 percentage points to 3.22%.
• **Loans and deposits showed steady growth.** Total loans at the end of the period were JPY 565,095 million (up JPY 6,531 million year-on-year), and total deposits were JPY 774,984 million (up JPY 12,645 million year-on-year). Loans to small and medium-sized enterprises (SMEs) stood at JPY 333,902 million (up JPY 2,747 million).

The consolidated revenue and profit increase is primarily attributable to a rise in loan interest income. However, the significant increase in non-consolidated credit costs and the rising ratio of disclosed claims to total loans may indicate an area for monitoring asset quality. The improvement in the capital adequacy ratio suggests a strengthening of the financial foundation.

• Crops Co., Ltd. announced its consolidated financial results for the fiscal year ended March 31, 2026, reporting net sales of JPY 67,497 million (up 9.6% year-on-year), operating profit of JPY 3,601 million (up 50.6%), and ordinary profit of JPY 3,723 million (up 41.3%).
• Net profit attributable to owners of the parent decreased by 6.5% to JPY 926 million, primarily due to the recording of impairment losses on goodwill in overseas businesses, stemming from a deterioration in revenue outlook for JOB LINKS CORPORATION due to changes in Vietnamese laws.
• The year-end dividend per share for the fiscal year ended March 31, 2026, was increased to JPY 29 (from JPY 20 in the previous fiscal year).
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of JPY 78,006 million (up 15.6%), operating profit of JPY 3,820 million (up 6.1%), ordinary profit of JPY 3,841 million (up 3.2%), and net profit attributable to owners of the parent of JPY 1,855 million (up 100.3%).
• Effective from the current consolidated fiscal year, the company changed its presentation method, now recording non-deductible consumption taxes, previously accounted for as non-operating expenses, under selling, general, and administrative expenses.

The financial results for the fiscal year ended March 31, 2026, present a mixed picture with substantial increases in sales and operating profit, offset by a decrease in net profit attributable to owners, attributed to an impairment loss in an overseas business. This suggests that the core business performance remains strong, with the net profit decline potentially stemming from a one-off event. The robust forecast for the fiscal year ending March 31, 2027, particularly the projected significant recovery in net profit, might indicate confidence in overcoming these temporary challenges and continued growth. The increase in the year-end dividend also reflects a commitment to shareholder returns.

• Nakamichi Leasing Co., Ltd. (Code: 8594) announced its Q1 FY2026 financial results for the period from January 1, 2026, to March 31, 2026.
• For the first quarter, net sales increased by 5.8% year-on-year to JPY 13,056 million, operating profit rose by 26.6% to JPY 451 million, ordinary profit grew by 27.8% to JPY 567 million, and quarterly net profit increased by 21.0% to JPY 392 million.
• As of March 31, 2026, total assets stood at JPY 151,421 million, net assets at JPY 13,583 million, and the equity ratio was 9.0%.
• New orders totaled JPY 10,154 million for the first quarter, marking a 19.6% increase compared to the prior-year period.
• The company’s full-year FY2026 earnings forecast and dividend forecast remain unchanged from the most recently announced figures.

• The strong year-on-year growth in sales and profits during the first quarter, alongside a significant increase in new orders, may suggest a positive start to the fiscal year.
• However, the unchanged full-year outlook, which projects a decline in profit for the second quarter cumulative and full-year periods compared to the previous year, could indicate anticipated challenges or strategic investments in later quarters.
• The slight improvement in the equity ratio compared to the previous fiscal year-end may also imply a stable financial position.

• Japan Petroleum Exploration Co., Ltd. (JAPEX) announced that its net income attributable to owners of parent for the fiscal year ended March 2026 was ¥53.4 billion, a decrease of ¥27.7 billion year-on-year. Operating profit for the period stood at ¥38.9 billion, down ¥23.0 billion from the previous year.
• The company attributed the decline in FY2026/3 profit to lower crude oil and natural gas sales prices, decreased LNG sales volumes, and the absence of gains from the sale of investment securities.
• For the fiscal year ending March 2027, JAPEX projects a net income attributable to owners of parent of ¥60.0 billion (an increase of ¥6.5 billion year-on-year) and an operating profit of ¥41.0 billion (an increase of ¥2.0 billion year-on-year).
• The projected increase in net income for FY2027/3 is expected to be driven by gains from the transfer of the Hokkaido gas business (special profit of ¥31.0 billion, net income impact of ¥22.0 billion) and an increase in crude oil and natural gas sales volumes in the United States.
• The FY2027/3 earnings forecast incorporates an estimated negative impact of ¥7.2 billion due to the tightening Middle East situation, including the shift to LNG spot procurement following the Strait of Hormuz blockade and the assumed full-year suspension of operations at the Garraf oil field.

The fiscal year 2026/3 results appear to reflect challenging market conditions and the absence of one-time gains from the prior year. However, the FY227/3 forecast suggests a strategic pivot, with an anticipated uplift from asset divestitures and growth in overseas E&P operations. The company’s inclusion of potential impacts from geopolitical tensions in its outlook could indicate a cautious approach to future projections.

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

• Suntory Beverage & Food Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1 to March 31, 2026).
• Consolidated revenue increased by 11.2% year-on-year to ¥406,867 million.
• Consolidated operating profit decreased by 0.2% year-on-year to ¥27,238 million, and profit attributable to owners of the parent decreased by 3.2% to ¥14,919 million.
• The decline in operating profit was attributed to increased marketing expenses, along with higher raw material and logistics costs.
• The full-year consolidated performance forecast for FY2026 and the annual dividend forecast of ¥120 per share remain unchanged from the most recently announced figures.

Despite a double-digit increase in revenue for the first quarter, operating profit and profit attributable to owners of the parent saw a slight decrease. This situation may suggest the impact of aggressive marketing investments and rising costs on profitability. The unchanged full-year forecast could indicate that the company views these cost increases as temporary and anticipates future profit improvements. While the strong performance of the Oceania business is notable, focusing on profit generation in the Japan and Europe segments will be crucial going forward.

• For the fiscal year ended March 31, 2026, consolidated net sales were JPY 6,184 million, a 4.5% increase year-on-year.
• Consolidated operating profit reached JPY 99 million (up 247.3% year-on-year), ordinary profit was JPY 90 million (up 141.9%), and net profit attributable to owners of parent was JPY 67 million (up 283.9%).
• Diluted earnings per share (EPS) was JPY 13.61, and net assets per share were JPY 169.82, reflecting the stock split effective November 1, 2025.
• The company forecasts for the fiscal year ending March 31, 2027, consolidated net sales of JPY 7,000 million (up 13.2%), operating profit of JPY 125 million (up 26.2%), and net profit of JPY 70 million (up 3.9%).
• A year-end dividend of JPY 3.00 per share was declared for FY2026, with the same dividend forecast for FY2027.

The robust performance in FY2026, particularly the significant surge in operating and net profits, indicates a strong improvement in profitability. The positive outlook for FY2027, with continued projections for sales and profit growth, suggests the company anticipates sustaining its operational momentum. Investors may find it worthwhile to monitor the factors contributing to these improvements.

• Nihon Falcom Corporation (G-Falcom) announced its financial results for the second quarter of the fiscal year ending September 2026 on May 13, 2026.
• For the interim period, net sales were JPY 1,535 million (up 153.9% year-on-year), operating profit was JPY 969 million (up 1216.4% YoY), ordinary profit was JPY 993 million (up 997.7% YoY), and net income attributable to owners of parent was JPY 689 million (up 1454.3% YoY).
• The licensing division recorded sales of JPY 1,419 million (up 194.8% YoY), exceeding the product division’s sales of JPY 116 million (down 5.5% YoY).
• The company revised its full-year earnings forecast for the fiscal year ending September 2026 upwards, projecting net sales of JPY 3,600 million (up 37.7% year-on-year) and net income of JPY 1,500 million (up 65.9% YoY).
• The upward revision of the forecast is attributed to the continued strong worldwide sales performance of “Trails in the Sky the 1st,” which led interim results to exceed previously announced figures.

The significant growth in the licensing division appears to be a primary contributor to the overall increase in revenue and profit during this interim period. The robust global sales of “Trails in the Sky the 1st” suggest that Nihon Falcom’s strategy for leveraging its intellectual property is proving effective. The upward revision of the full-year earnings forecast, based on current performance and the business environment, indicates continued positive momentum, with future new title releases and ongoing overseas expansion being worth monitoring.

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

• Nihon Nohyaku Co., Ltd. announced that its consolidated financial results for the fiscal year ended March 31, 2026, exceeded the previous forecasts released on November 10, 2025.
• Net profit attributable to owners of parent reached ¥7,228 million, an increase of 33.9% compared to the previous forecast of ¥5,400 million.
• Net sales were ¥111,822 million (+2.3% compared to previous forecast), operating profit ¥10,878 million (+18.2%), and ordinary profit ¥10,527 million (+31.6%).
• Key factors contributing to the upward revision included expanded sales share in North America for main products in fruit trees and nuts, increased sales of insecticides (buprofezin and fenpyroximate) due to earlier growth and higher pest occurrences from rising temperatures in California, compensation income from pesticide registration data usage by a U.S. subsidiary, and increased equity method investment income from European affiliates.
• The company decided to increase the year-end dividend for the fiscal year ended March 31, 2026, from the previously forecast ¥15 per share to ¥24 per share. This results in a total annual dividend of ¥36 per share for the current period.

The upward revision in earnings may suggest the effectiveness of the company’s market penetration strategies in specific regions and the impact of favorable market conditions on sales. Notably, sales growth in higher-margin North American markets, coupled with compensation income and increased equity method investment income, appears to have significantly boosted the net profit. The dividend increase aligns with the company’s mid-term management plan, which targets a progressive dividend policy with a payout ratio of approximately 40%, indicating a continued focus on shareholder returns.

• Asaka Industrial Co. announced its non-consolidated financial results for the fiscal year ended March 31, 2026, reporting net sales of ¥8,357 million, a 1.1% decrease from the previous year.
• Operating profit increased by 2.1% to ¥311 million, and ordinary profit rose by 3.0% to ¥346 million.
• Net income for the period surged by 80.2% to ¥410 million, primarily driven by a ¥258 million gain on the sale of investment securities.
• The annual dividend per share for FY2026 was increased to ¥90 (¥50 ordinary, ¥40 special) from ¥50 in the preceding fiscal year.
• For the fiscal year ending March 31, 2027, the company forecasts net sales of ¥8,400 million (+0.5% YoY), operating profit of ¥220 million (-29.3% YoY), and net income of ¥170 million (-58.6% YoY).

While net sales saw a slight decline for FY2026, the significant surge in net income appears to be largely attributable to a one-time gain from the sale of investment securities. The increase in the annual dividend to ¥90 per share could be a positive indicator for shareholders reflecting the current year’s profitability. However, the substantial projected decrease in net income for FY2027 suggests a normalization of earnings without the previous year’s special gains, which may warrant close monitoring by investors.

• For the fiscal year ended March 31, 2026, Taihei Seisakusho reported consolidated net sales of 6,359 million yen (down 19.0% year-on-year), operating profit of 571 million yen (down 37.0%), ordinary profit of 603 million yen (down 37.0%), and profit attributable to owners of parent of 438 million yen (down 24.0%).
• As of March 31, 2026, consolidated total assets were 9,556 million yen, net assets were 7,241 million yen, and the equity ratio improved to 75.8% from 66.3% at the end of the previous fiscal year.
• Consolidated cash flow from operating activities for the fiscal year 2026/3 was an outflow of 881 million yen, and cash flow from investing activities was an outflow of 880 million yen, with cash and cash equivalents at the end of the period totaling 2,186 million yen.
• The annual dividend per share for the fiscal year 2026/3 was announced as 80.00 yen (interim dividend of 20.00 yen, year-end dividend of 60.00 yen).
• For the full fiscal year ending March 31, 2027, the company forecasts consolidated net sales of 6,805 million yen (up 7.0% year-on-year), operating profit of 687 million yen (up 20.1%), profit attributable to owners of parent of 450 million yen (up 2.6%), and an annual dividend of 100.00 yen.

• The fiscal year 2026/3 results showed a double-digit decline in net sales and various profit metrics, which the company attributed primarily to a reactionary decrease in overseas orders for its main machinery.
• Conversely, the equity ratio improved by 9.5 percentage points from the prior fiscal year-end, reaching 75.8%, which may indicate a strengthening of the company’s financial health.
• The company’s forecast for the fiscal year 2027/3 projects an increase in both revenue and profits, along with an expected increase in the annual dividend, suggesting an anticipated business recovery moving forward.

• Yamazen Corporation announced a revision to its year-end dividend for the fiscal year ended March 2026, increasing it from JPY 32.00 to JPY 34.00 per share.
• This revision brings the total annual dividend per share for FY2026 to JPY 54.00, including the interim dividend of JPY 20.00.
• The company also provided a dividend forecast for the fiscal year ending March 2027, projecting an annual dividend of JPY 56.00 per share (interim JPY 20.00, year-end JPY 36.00).
• These dividend decisions and forecasts are based on Yamazen’s shareholder return policy, which utilizes the higher of a consolidated dividend payout ratio of 40% or a dividend on equity (DOE) of 3.5%.
• The effective date for the FY2026 year-end dividend is June 12, 2026.

This announcement appears to reflect Yamazen’s commitment to its shareholder return policy outlined in its mid-term management plan, ‘PROACTIVE YAMAZEN 2027,’ by revising the current year’s dividend upwards and providing a clear forecast for the next. The explicit guidance of using a consolidated payout ratio of 40% or a DOE of 3.5% as metrics for dividend calculation suggests a focus on consistent and predictable shareholder distributions. This proactive approach to shareholder returns may be a point of interest for investors.

• Kanaden Corporation announced its consolidated financial results for the fiscal year ended March 31, 2026, with net sales of JPY 145,614 million (up 15.9% year-on-year), operating profit of JPY 5,332 million (up 18.5%), ordinary profit of JPY 5,784 million (up 22.3%), and profit attributable to owners of parent of JPY 3,966 million (up 0.6%).
• The annual dividend for the current fiscal year (FY2026) was JPY 72.00 per share, an increase of JPY 2.00 from the previous year.
• For the fiscal year ending March 31, 2027, the company forecasts consolidated net sales of JPY 150,000 million (up 3.0% year-on-year), operating profit of JPY 5,900 million (up 10.7%), ordinary profit of JPY 6,000 million (up 3.7%), and profit attributable to owners of parent of JPY 4,000 million (up 0.9%).
• The company plans an annual dividend of JPY 100.00 per share for FY2027, representing an increase of JPY 28.00 from the previous year.
• Cash flow from operating activities was JPY 9,238 million, and cash and cash equivalents at the end of the period increased to JPY 23,926 million.

For FY2026, increased sales and profits across key metrics, particularly driven by large-scale projects in the infrastructure business, appear to have contributed to the positive results. The FY2027 forecast suggests continued revenue and profit growth, accompanied by a significant increase in the planned annual dividend, which may indicate a strong commitment to shareholder returns. The increase in operating cash flow and year-end cash balances could contribute to future business development and financial stability.

• For the fiscal year ended March 31, 2026, consolidated net sales reached ¥1,553,364 million, marking a 2.3% increase year-on-year.
• Consolidated operating profit for the same period decreased by 12.3% to ¥16,601 million, ordinary profit decreased by 19.7% to ¥16,631 million, and profit attributable to owners of parent decreased by 12.7% to ¥17,327 million.
• The annual dividend per share for FY2026/3 was ¥165.00, a significant increase of ¥100.00 from the previous fiscal year’s ¥65.00, resulting in a payout ratio of 60.8%.
• For the fiscal year ending March 31, 2027 (forecast), consolidated net sales are projected to increase by 3.1% to ¥1,601,000 million. However, operating profit is expected to decrease by 10.9% to ¥14,800 million, and profit attributable to owners of parent is anticipated to decrease by 25.6% to ¥12,900 million.
• During the fiscal year, Toho Holdings newly consolidated K-Create Co., Ltd. within its scope of consolidation.

Toho Holdings reported increased sales for FY2026/3, yet a decline across various profit metrics may draw investor attention. The substantial increase in the annual dividend payment could suggest a strong commitment to shareholder returns. The company’s forecast for FY2027/3, projecting increased sales but decreased profits, indicates that managing profitability amidst dynamic market conditions may be a key area for the company to address.

• AZ-COM MARUWA Holdings Inc. announced a “Correction to a Portion of the ‘FY2026 March Earnings Presentation'” on May 13, 2026.
• The correction was issued because an error was identified in a part of the “FY2026 March Earnings Presentation,” which was originally published on May 11, 2026.
• The specific correction is located on page 8 of the earnings presentation, titled “Cost of Sales Analysis,” pertaining to the breakdown of miscellaneous expenses within the cost of sales for the fiscal year ended March 2026.
• Specifically, for FY2026 March, the composition ratio of subcontracting costs was revised from 43.8% to 41.3%, outsourcing and contract service fees from 12.1% to 13.5%, and other expenses from 15.5% to 17.1%. The composition ratio for fuel and oil expenses remained unchanged.

Corrections to earnings presentation materials are vital for ensuring investors have accurate and reliable information regarding a company’s financial performance and position. The adjustments to the breakdown of miscellaneous expenses within the cost of sales may suggest nuanced shifts in the company’s operational cost structure. Investors might find it beneficial to review these updated figures to gain a more precise understanding of the company’s detailed cost management and its potential implications for overall financial efficiency.

• For the fiscal year ended March 31, 2025 (FY2025), net sales were ¥4,123 million, marking a 22.5% increase year-on-year.
• Operating income for FY2025 was ¥164 million, ordinary income was ¥187 million, and net income was ¥127 million, representing a turnaround from losses in all respective categories in the previous fiscal year.
• As of March 31, 2025, total assets stood at ¥5,888 million, net assets at ¥3,604 million, and the equity ratio was 61.2%.
• The annual dividend for FY2025 was ¥60.00 per share (¥30.00 at year-end), with the forecast for FY2026 also at ¥60.00 per share (¥30.00 at year-end).
• The full-year forecast for FY2026 anticipates net sales of ¥3,760 million (a decrease of 8.8% year-on-year), operating income of ¥50 million (a decrease of 69.6%), ordinary income of ¥70 million (a decrease of 62.6%), and net income of ¥50 million (a decrease of 60.9%).

Nakanihon Kogyo achieved a significant turnaround in FY2025, moving from a loss to profitability, driven by record annual box office revenues in its Cinema segment and increased revenue in the Real Estate Leasing segment. However, the company’s forecast for FY2026 projects a decline in both sales and profits compared to the previous fiscal year, which may warrant careful consideration by investors. Financially, the company has shown an increase in total assets and net assets, while maintaining a stable equity ratio of 61.2%.

• Kyowa Corporation (Code: 6570) released its earnings webcast for the fiscal year ended March 2026 on May 13, 2026 (Wednesday).
• The video is available for viewing on the official “Kyowa Corporation Official Channel” on YouTube (https://youtu.be/2YhZj0Oc_tg).
• Presentation materials related to the earnings explanation are provided for download via a separate URL (https://ssl4.eir-parts.net/doc/6570/ir_material_for_fiscal_ym/202880/00.pdf).
• Mr. Kazuhiko Miyamoto, Representative Director and President, attends the earnings webcast.
• Questions regarding the content of the earnings presentation can be submitted through the inquiry form on the company’s official website (https://www.kyowa-corp.co.jp/contact), with responses to be provided at a later date.

The adoption of a video webcast format allows investors to access critical earnings information flexibly, regardless of their location or time constraints. Furthermore, accepting questions via the company’s website for a later response may enable the company to provide more thorough and organized answers. This approach could offer investors the opportunity to review information at their own pace and formulate precise inquiries.

• Takada Kogyo Co., Ltd. announced its consolidated financial results for the fiscal year ended March 31, 2025, on May 13, 2025.
• For the consolidated fiscal year ended March 31, 2025 (April 1, 2024 – March 31, 2025), net sales were JPY 53,693 million (down 7.5% year-on-year), operating profit was JPY 1,778 million (down 39.4% year-on-year), and profit attributable to owners of parent was JPY 1,254 million (down 45.7% year-on-year).
• As of March 31, 2025, the consolidated financial position showed total assets of JPY 47,716 million, net assets of JPY 22,026 million, and an equity ratio of 45.5%.
• The annual dividend for the fiscal year ended March 31, 2025, was JPY 70.00 per share (year-end only), unchanged from the previous fiscal year.
• For the consolidated fiscal year ending March 31, 2026 (April 1, 2025 – March 31, 2026), the company forecasts net sales of JPY 55,700 million (up 3.7% year-on-year), operating profit of JPY 1,730 million (down 2.8% year-on-year), and profit attributable to owners of parent of JPY 910 million (down 27.5% year-on-year). The annual dividend forecast is JPY 70.00 per share.

While key profit indicators showed a significant decline for the fiscal year ended March 2025, total assets and net assets increased, with a slight improvement in the equity ratio.

The forecast for the next fiscal year (ending March 2026) projects an increase in net sales but a continued decrease in profitability, which could indicate challenges in improving earnings efficiency.

The planned annual dividend of JPY 70 per share suggests a focus on stable dividends, an aspect that may be of interest to investors alongside the future performance trends.

• Hirogin Holdings, Inc. announced on May 13, 2026, an upward revision of its management targets for the fiscal year 2028 under its “Medium-Term Plan 2024.”
• The revised 2028 targets include consolidated ROE increasing from 9.5% or more to 11% or more, and consolidated BPS increasing from ¥2,000 or more to ¥2,200 or more.
• The reference target for net income attributable to parent company was revised upward from ¥57.0 billion to ¥70.0 billion.
• The consolidated capital adequacy ratio target remains unchanged at approximately 10%.
• Reasons for the revision include significant changes in domestic market interest rates since the plan’s formulation in May 2025, expanded risk-taking capacity due to bond issuance and capital injection into Hiroshima Bank in December 2025, an increase in outstanding loans, enhanced profitability from the restructuring of the securities portfolio, steady progress of various initiatives under the plan, and consideration of future market conditions.

Hirogin Holdings’ “re-upward” revision of its medium-term plan targets may suggest the company’s enhanced confidence in achieving its financial objectives, adapting to evolving business conditions. This adjustment appears to be driven by both external factors, such as shifts in domestic market interest rates, and internal strategic advancements, including an expanded risk-taking capacity, growth in loan balances, and improved profitability from its securities portfolio.

• Santo Kogyo announced its consolidated financial results for the third quarter of the fiscal year ending June 2026 (July 1, 2024, to March 31, 2025).
• Consolidated cumulative performance showed net sales of ¥8,134 million (up 33.9% year-on-year), operating income of ¥547 million (up 41.0% year-on-year), ordinary income of ¥553 million (up 41.1% year-on-year), and net income attributable to owners of parent of ¥356 million (up 42.6% year-on-year).
• By segment, civil engineering project completion revenue was ¥4,077 million (up 9.5% year-on-year), and construction project completion revenue was ¥4,023 million (up 74.3% year-on-year). Environmental development segment sales were ¥33 million (down 24.0% year-on-year).
• As of the end of the third quarter, total assets stood at ¥6,463 million, net assets at ¥3,842 million, and the equity ratio at 58.7%.
• The company revised its full-year consolidated performance forecast and annual dividend forecast (year-end dividend) for the fiscal year ending June 2026. The revised full-year net sales forecast is ¥10,800 million (up 31.7% from the previous year), and net income attributable to owners of parent is ¥280 million (up 21.1% from the previous year). The year-end dividend forecast was revised to ¥130.00 per share (ordinary dividend ¥70.00, special dividend ¥60.00).

Santo Kogyo’s Q3 results demonstrate significant growth in both revenue and profits compared to the prior year. The substantial increase in construction project completion revenue appears to be a key driver of this performance. The revision of the full-year earnings and dividend forecasts suggests confidence based on current strong results, which investors may find noteworthy as they evaluate the company’s future outlook.

• EXEO Group’s Board of Directors resolved on May 13, 2026, to increase dividends and change its shareholder return policy.
• The year-end dividend for the fiscal year ending March 2026 will be proposed to increase from the previously forecast ¥33.00 to ¥35.00 per share, making the annual dividend ¥68.00 per share.
• The shareholder return policy will change starting from the fiscal year ending March 2027, with the target DOE (Dividend on Equity ratio) being raised from 4.0% to 4.5%.
• The revised policy includes continuous share buybacks, targeting a total return ratio of 60%, in addition to dividends based on a 4.5% DOE.
• The dividend forecast for the fiscal year ending March 2027 is ¥40.00 per share for both interim and year-end, totaling ¥80.00 per share.

EXEO Group’s decision to increase the year-end dividend for the current fiscal year and explicitly enhance its shareholder return policy for future periods suggests a commitment to investor returns. The upward revision of the DOE target and the explicit inclusion of continuous share buybacks targeting a 60% total return ratio could be viewed as a clear signal of management’s focus on shareholder value. The increased dividend forecast for the next fiscal year may also be a point of interest for investors tracking the company’s mid-term management plan.

• CMC Co., Ltd. announced its consolidated financial results for the second quarter (interim period) of the fiscal year ending September 2026.
• Consolidated net sales for the interim period reached ¥10,235 million, representing a 14.6% increase compared to the same period last year.
• Consolidated operating profit was ¥1,824 million, marking a substantial increase of 56.3% year-on-year.
• Net profit attributable to owners of the parent increased by 44.5% year-on-year to ¥1,416 million.
• By segment, the Manuals business recorded significant growth with sales of ¥4,065 million (+52.6% YoY), while the Knowledge business posted ¥5,743 million (△2.2% YoY).
• The company announced an interim dividend forecast of ¥27.00 for the fiscal year ending September 2026, an increase from ¥24.00 in the previous year. The year-end dividend forecast was also revised from ¥28.00 to ¥30.00 (including a ¥2 memorial dividend).

CMC’s Q2 FY2026 results show robust growth, primarily driven by the strong performance of its Manuals business, which appears to have significantly contributed to both increased sales and profits. The substantial rise in operating profit, attributed by the company to thorough QDC (Quality, Cost, Delivery) initiatives, could indicate improved operational efficiency. Furthermore, the increase in the interim dividend may signal a positive stance on shareholder returns, potentially drawing investor attention.

• Marutai Co., Ltd. reported consolidated results for the fiscal year ended March 2026, with net sales of ¥9,552 million (down 0.5% year-on-year), operating profit of ¥550 million (down 13.3% year-on-year), ordinary profit of ¥619 million (down 10.7% year-on-year), and net profit of ¥424 million (down 12.5% year-on-year).
• The decrease in sales and profits was primarily attributed to sluggish sales of cup noodles and Sarauどん (crispy fried noodles) due to a severe summer heatwave and reduced sales of OEM products for commercial use, despite steady sales of stick ramen products.
• Earnings per share (EPS) for the period were ¥222.28, a decrease from ¥253.93 in the previous fiscal year.
• The year-end dividend was ¥50, reduced from ¥60 in the prior fiscal year.
• For the fiscal year ending March 2027, the company forecasts net sales of ¥9,600 million (up 0.5% year-on-year), operating profit of ¥560 million (up 1.6% year-on-year), ordinary profit of ¥640 million (up 3.2% year-on-year), and net profit of ¥440 million (up 3.6% year-on-year), indicating an expected increase in both revenue and profit.
• Marutai plans to implement product price revisions starting from July 1, 2026.

The decline in sales and profit for FY2026 appears to be influenced by specific product categories and external factors. However, the company’s plan for product price revisions starting July 2026 could potentially contribute to an improvement in future performance. The positive outlook for FY2027, forecasting increases in both revenue and profit, suggests that the impact of these price adjustments and potential new product launches will be key areas for investors to monitor.

• Shindengen Hitech announced discrepancies between its previously disclosed full-year consolidated financial forecasts for the fiscal year ending March 2026 (published November 11, 2025) and its actual financial results announced today.
• For the fiscal year ending March 2026, net sales were ¥42,812 million against a forecast of ¥43,800 million (a decrease of △2.3%).
• Operating profit was ¥1,066 million against a forecast of ¥1,150 million (a decrease of △7.3%).
• Ordinary profit significantly underperformed, reaching ¥523 million compared to a forecast of ¥800 million (a decrease of △34.5%).
• Profit attributable to owners of parent was ¥351 million against a forecast of ¥550 million (a decrease of △36.0%).
• The primary reason for the discrepancies was an unexpected increase in foreign exchange losses recorded under non-operating expenses, attributed to a greater-than-anticipated increase in dollar-denominated interest-bearing debt and an expanded net position of dollar-denominated assets and liabilities at fiscal year-end.

This announcement from Shindengen Hitech highlights the significant impact of foreign exchange fluctuations on financial performance. While the differences in net sales and operating profit were relatively minor, the substantial decline in ordinary profit and net profit suggests that foreign exchange losses had a greater impact on the company’s financials than initially anticipated. The explanation points to increased demand for dollar-denominated procurement funds and financing for new projects contributing to the rise in dollar-denominated interest-bearing debt, which may suggest the company’s sensitivity to currency movements could be a point of interest for investors moving forward.

• Dynapac announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026, to March 31, 2026).
• Net sales reached ¥16,994 million, representing a 12.7% increase compared to the same period last year.
• Operating profit was ¥698 million, up 16.4% year-on-year.
• Ordinary profit amounted to ¥1,112 million, marking a 25.9% increase year-on-year.
• Net income attributable to owners of parent was ¥791 million, a decrease of 24.9% from the previous year’s first quarter.
• Diluted earnings per share for the quarter were ¥81.06.
• The full-year consolidated earnings forecast (Net sales ¥73,000M, Operating profit ¥3,100M, Ordinary profit ¥3,600M, Net income attributable to owners of parent ¥2,500M) and dividend forecast (¥80 per share) remain unchanged.
• The Packaging Materials business segment reported net sales of ¥17,840 million (+12.7% YoY) and segment profit of ¥730 million (+11.5% YoY), driven by domestic sales exceeding the corrugated industry average and strong overseas sales.
• The Real Estate Leasing business segment achieved net sales of ¥101 million (+4.2% YoY) and segment profit of ¥86 million (+7.8% YoY).

Dynapac’s Q1 FY2026 results show growth in net sales, operating profit, and ordinary profit, while net income attributable to owners of parent decreased. This disparity could be attributed to non-recurring factors such as foreign currency translation adjustments compared to the previous year. The unchanged full-year forecast may suggest the company expects to maintain its initial plan, indicating a consistent outlook for the remainder of the fiscal year.

• DENSAN SYSTEM HOLDINGS announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 – March 31, 2026).
• Consolidated net sales reached ¥17,223 million (up 10.8% year-on-year), operating profit was ¥1,227 million (up 13.2%), ordinary profit was ¥1,301 million (up 4.7%), and net profit attributable to owners of parent was ¥888 million (up 8.3%).
• By segment, the Information Services business reported sales of ¥11,486 million (up 17.0% year-on-year) and operating profit of ¥638 million (up 52.1%).
• The Payment Collection Services business recorded sales of ¥5,736 million (up 0.3% year-on-year) and operating profit of ¥583 million (down 12.1%).
• There are no revisions to the consolidated financial forecasts or dividend forecasts for the fiscal year ending December 2026 from the most recently published figures.

The Q1 results show an increase in sales and various profit metrics, with the Information Services segment appearing to be a key driver of overall performance. The strong performance in Information Services, particularly in SI/software development and cloud/license areas, may suggest sustained demand for digitalization in the market. Conversely, the Payment Collection Services business experienced a revenue increase but a profit decrease, which the company attributed to rising procurement costs and interest rates, indicating potential cost pressures in this segment.

• Sanyo Chemical Industries, Ltd. has released its consolidated financial results for the fiscal year ended March 31, 2026.
• Consolidated net sales amounted to ¥127,859 million, a decrease of 10.1% compared to the previous fiscal year.
• Operating profit was ¥10,007 million (up 18.6% year-on-year), ordinary profit was ¥12,256 million (up 26.7% year-on-year), and profit attributable to owners of parent was ¥15,637 million (up 276.6% year-on-year).
• Earnings per share for FY2026/3 was ¥706.89, with a return on equity of 10.6%.
• For the fiscal year ending March 31, 2027, the consolidated earnings forecast projects net sales of ¥150,000 million (up 17.3% year-on-year), operating profit of ¥10,000 million (down 0.1% year-on-year), ordinary profit of ¥11,500 million (down 6.2% year-on-year), and profit attributable to owners of parent of ¥9,000 million (down 42.4% year-on-year).
• The annual dividend for FY2026/3 was ¥170 (interim ¥85, year-end ¥85), and the forecast for FY2027/3 is ¥175 (interim ¥87.50, year-end ¥87.50).

While revenue declined, Sanyo Chemical’s FY2026/3 results show significant profit growth, attributed to improved profitability and reduced tax expenses. The FY2027/3 forecast indicates an expected increase in revenue driven by price pass-through of raw material costs, but profits are projected to decline due to upfront investments in growth businesses and the absence of prior-period foreign exchange gains and tax expense reductions. Investors may focus on the company’s ongoing business structure reforms and the performance of high-value-added products.

• For the second quarter of FY2026, G-GENOVA reported record-high figures for Q2: net sales of 715 million yen, operating income of 406 million yen, ordinary income of 415 million yen, and quarterly net income of 287 million yen.
• Net sales were largely in line with the initial forecast, while operating income, ordinary income, and quarterly net income exceeded expectations.
• The full-year forecast for FY2026 remains unchanged, projecting net sales of 1,433 million yen, operating income of 779 million yen, ordinary income of 793 million yen, and net income of 543 million yen.
• The year-end dividend forecast is 7.00 yen per share (an increase of 1.00 yen from the previous fiscal year), with no change from the initial forecast.
• Annual net sales have achieved consecutive record highs for 10 periods since FY2016/9, and performance in Q2 continues to be favorable.

G-GENOVA’s Q2 FY2026 results, featuring record-high profits for the period, suggest a sustained growth trajectory in its core business segments. While the full-year forecast remains unrevised, the strong Q2 performance provides a positive indication for the company’s ability to achieve its annual targets. Investors may find it worthwhile to monitor how the company maintains this momentum in the latter half of the fiscal year.

• Mitsubishi Steel announced discrepancies between its consolidated full-year financial forecasts and actual results for the fiscal year ending March 2026.
• For the fiscal year ending March 2026, net sales reached ¥159,584 million (previous forecast: ¥159,000 million), operating income ¥6,564 million (previous forecast: ¥4,400 million), ordinary income ¥4,854 million (previous forecast: ¥3,000 million), and net income attributable to owners of parent ¥3,055 million (previous forecast: ¥2,500 million).
• Operating income exceeded the previous forecast due to growth in the spring business, despite the impact of a blast furnace fire in the domestic special steel products business.
• Ordinary income significantly surpassed the previous forecast, driven by increased operating profit and foreign exchange gains from the weaker yen.
• The year-end dividend for the fiscal year ended March 31, 2026, was set at ¥41.00 per share (previous forecast: ¥40.00), resulting in an expected annual dividend of ¥81.00 per share, including the interim dividend.

This announcement indicates that Mitsubishi Steel’s full-year consolidated results for the fiscal year ending March 2026 surpassed all previous forecasts. The substantial increase in operating and ordinary income may suggest contributions from strong core business performance and favorable currency movements. Furthermore, the upward revision of the dividend forecast, following the better-than-expected earnings, could indicate a positive stance on shareholder returns.

• Chugoku Kogyo Co., Ltd. resolved to revise its dividend forecast for the fiscal year ending March 2026 at a Board of Directors meeting held on May 13, 2026.
• The year-end dividend per share for the fiscal year ending March 2026 has been increased from the previously forecasted ¥20 (announced on May 13, 2025) to a revised forecast of ¥23.
• Consequently, the total annual dividend per share for the fiscal year ending March 2026 has also been revised from ¥20 to ¥23.
• The actual annual dividend per share for the previous fiscal year (ended March 2025) was ¥20.
• The revision is based on the company’s performance trends for the current period and its commitment to returning profits to shareholders.
• This dividend, with a record date of March 31, 2026, is scheduled to be formally resolved at the Board of Directors meeting on May 28, 2026.

This dividend revision, specifically the ¥3 increase per share, may suggest the company’s confidence in its current performance and its commitment to shareholder returns. Investors might view this as a positive indicator, reflecting a stable financial position. The company’s stated policy to maintain stable dividends while considering future business development and internal reserves could indicate a balanced approach to capital allocation.

• TAMURA Corporation announced its financial results for the fiscal year ended March 2026, reporting revenue of ¥123.6 billion, operating profit of ¥5.3 billion, and a net loss of ¥1.4 billion.
• Revenue increased by 8.3% year-on-year, reaching a record high, driven by strong performance in AI data center-related and smartphone markets.
• During FY2026/3, the company accelerated structural reforms, including the decision to transfer the Information Equipment Business (leading to early recognition of loss), transfer of an equity-method affiliate in China, and special measures for career transition support, incurring related expenses.
• For the fiscal year ending March 2027, the company forecasts full-year revenue of ¥130.0 billion, operating profit of ¥5.6 billion, and net profit of ¥4.5 billion.
• The projected dividend per share for FY2027/3 is ¥16 (¥8 for the first half, ¥8 for the second half), an increase of ¥3 from the ¥13 paid in FY2026/3.

While achieving record high revenue in FY2026/3, the company’s net loss appears to be primarily driven by expenses associated with accelerated structural reforms. The divestiture of the Information Equipment Business and restructuring of China operations suggest a strategic realignment of the business portfolio, which could influence future profitability. The forecast for a V-shaped recovery in FY2027/3 indicates the company’s expectation that these reforms will translate into improved earnings.

• Hiday Hidaka Co., Ltd. announced a correction to a part of its “Financial Results for the Fiscal Year Ending February 2026 (Non-consolidated)” on May 13, 2026.
• The correction pertains to the section titled “1. Overview of Operating Results (1) Overview of Operating Results for the Current Period ③ Strengthening Recruitment and Human Resource Development” within the supplementary materials of the financial results published on April 10, 2026.
• The original statement read: “New graduate starting salaries have been raised for six consecutive years.”
• The corrected statement now reads: “New graduate starting salaries have been raised for five consecutive years.”
• The reason for the correction was stated as a clerical error.

This correction addresses a numerical error within the text of the financial results and does not appear to directly impact the company’s financial performance or outlook. Investors may view this as an indication of the company’s commitment to accurate information disclosure. While seemingly minor, such corrections are important for maintaining transparency in public reporting, and the company’s future information management practices may be an area of focus.

• Hikari Tsushin reported record-high net sales of ¥734.7 billion for the fiscal year ended March 2026, marking a 7% increase year-over-year.
• Net income attributable to owners of the parent reached a record ¥151.0 billion, an increase of 28% from the previous fiscal year.
• Comprehensive income attributable to owners of the parent surged by 88% year-over-year to ¥306.0 billion.
• Operating profit increased by 11% to ¥116.6 billion, and profit before tax rose by 32% to ¥199.0 billion, both setting new records.
• Shareholders’ equity reached a new high of ¥1,185.6 billion.
• By segment, Electricity/Gas sales were ¥319.5 billion (up 10% YoY), and Communications sales were ¥127.5 billion (up 4% YoY).
• Foreign exchange gains of ¥24.5 billion were recorded (up ¥27.2 billion YoY).

Hikari Tsushin’s FY2026 results highlight a strong performance across key financial metrics, with net sales, operating profit, net income, comprehensive income, and shareholder equity all achieving new record highs. The substantial increase in comprehensive income appears to be driven by significant unrealized gains on securities of ¥93.8 billion and realized gains on sales of ¥40.7 billion, which could indicate effective asset management. Additionally, a notable foreign exchange gain of ¥24.5 billion played a role in enhancing pre-tax profit, making it a factor for investors to consider when evaluating the underlying business performance.

• Kyowa Airtech announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026, to March 31, 2026).
• Net sales for the quarter were ¥2,831 million, a decrease of 2.0% compared to the same period last year.
• Operating profit increased by 17.5% year-on-year to ¥235 million.
• Ordinary profit rose by 16.5% year-on-year to ¥241 million.
• Net profit attributable to owners of parent increased by 2.7% year-on-year to ¥162 million.
• The full-year consolidated earnings forecast (Net sales ¥11,800 million, Operating profit ¥620 million, Ordinary profit ¥660 million, Net profit attributable to owners of parent ¥460 million) remains unchanged from the previous announcement.
• The equity ratio stood at 67.3% as of the end of the first quarter of FY2026.

While sales experienced a slight decline, the notable increase in operating, ordinary, and net profits suggests an improvement in profitability for Kyowa Airtech during the quarter. This trend may indicate effective cost management or operational efficiencies implemented by the company. The decision to maintain the full-year earnings forecast could imply the company’s confidence in its ability to achieve its annual targets.

• Hamai Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 to March 31, 2026).
• Consolidated net sales for the quarter totaled ¥3,619 million, marking a 6.2% increase compared to the same period in the previous year.
• Consolidated operating profit decreased by 9.2% year-on-year to ¥311 million.
• Consolidated ordinary profit was ¥296 million (down 4.7% YoY), and profit attributable to owners of parent was ¥198 million (down 2.3% YoY).
• Earnings per share for the quarter were ¥29.59.
• The equity ratio stood at 80.7%, an increase from 76.7% at the end of the previous consolidated fiscal year.
• The full-year consolidated earnings forecast for the fiscal year ending December 2026 remains unchanged, projecting net sales of ¥13.1 billion (up 3.0% YoY) and operating profit of ¥1.25 billion (up 2.2% YoY).

Hamai’s Q1 FY2026 results show a notable trend where increased sales were overshadowed by declining profits across various metrics, primarily due to rising raw material costs. While the LPG cylinder valve segment drove revenue growth, delayed recovery in semiconductor manufacturing equipment demand and higher cost of sales appear to have impacted overall profitability. With the full-year outlook unchanged, investors may wish to monitor the company’s strategies to mitigate cost pressures and potential market improvements that could influence future performance.

• For the third quarter of the fiscal year ending June 2026 (July 1, 2025 – March 31, 2026), consolidated net sales totaled 9,690 million yen, a decrease of 9.2% compared to the same period of the previous year.
• Operating profit for the same period was 1,324 million yen, an increase of 4.7% year-on-year.
• Ordinary profit reached 1,726 million yen (up 23.6% year-on-year), and net profit attributable to owners of the parent was 1,181 million yen (up 21.1% year-on-year).
• The increase in operating profit was attributed to the suppression of selling, general, and administrative expenses despite a decrease in gross profit. The rise in ordinary profit was significantly impacted by the recognition of derivative valuation gains from foreign exchange forward contracts, aimed at hedging exchange rate risks from import transactions.
• The consolidated full-year earnings forecast for the fiscal year ending June 2026 remains unchanged, projecting net sales of 16,000 million yen, operating profit of 1,800 million yen, ordinary profit of 1,900 million yen, and net profit attributable to owners of the parent of 1,350 million yen.

While sales experienced a decline, the company successfully increased operating, ordinary, and net profits year-on-year, primarily driven by controlled selling, general, and administrative expenses and significant gains from foreign exchange derivative valuations. This suggests effective cost management and a beneficial hedging strategy, which appears to have mitigated the impact of reduced sales. The reaffirmation of the full-year forecast indicates that management expects current trends to continue, suggesting confidence in achieving their initial projections despite current market conditions.

• AI inside Co.’s full-year revenue for the fiscal year ended March 2026 reached ¥4.74 billion, an increase of 7.9% year-over-year.
• Ordinary profit settled at ¥480 million, with net profit at ¥350 million.
• The number of contracts stood at 3,203 (104.8% year-over-year), and users at 77,975 (117.3% year-over-year).
• The churn rate was maintained at a low 0.66%.
• Following the implementation of PolySphere-4, the number of non-fixed-form document reading items increased by 405% year-over-year, with total reading items exceeding 400 million in a single month.

AI inside Co. demonstrated solid growth in revenue and profit for the fiscal year ended March 2026. The increase in contracts and users, coupled with a consistently low churn rate, may suggest strong customer satisfaction and a reliable foundation for its AI services. Furthermore, the significant growth in non-fixed-form document reading items through AI-OCR could indicate successful technological advancement contributing directly to business performance.

• Omron announced its consolidated financial results (U.S. GAAP) for the fiscal year ended March 31, 2026, with revenue of ¥767,351 million, a 7.3% increase year-on-year.
• Operating profit for the same period was ¥59,935 million, representing a 12.1% increase year-on-year.
• Net income attributable to owners of the parent reached ¥28,487 million, a significant 75.1% increase year-on-year.
• Diluted earnings per share attributable to owners of the parent was ¥144.80.
• For the fiscal year ending March 31, 2027, the consolidated full-year forecast includes revenue of ¥820,000 million and net income attributable to owners of the parent of ¥27,500 million.

Omron’s FY2026/3 results show a solid increase across key financial metrics, with net income attributable to owners of the parent demonstrating particularly strong growth. Investors may note the upward trend in revenue and operating profit, which could suggest underlying business strength. However, the FY2027/3 forecast indicates a lower net income attributable to owners of the parent despite projected revenue growth, which warrants monitoring as the company plans to adopt IFRS from Q1 FY2027/3 and has reclassified its Device & Module Solutions Business (DMB) as a discontinued operation.

• For the first quarter of the fiscal year ending December 2026 (January 1, 2026 – March 31, 2026), INPEX reported consolidated revenue of ¥501.8 billion, a 6.5% decrease year-on-year.
• Profit attributable to owners of the parent for the quarter was ¥109.4 billion, down 13.4% compared to the prior-year period.
• Operating profit stood at ¥278.2 billion (down 14.1% YoY), and profit before tax was ¥291.3 billion (down 13.1% YoY).
• The primary factor for the decline was a decrease in selling prices, which led to a ¥49.4 billion reduction in revenue; crude oil sales revenue decreased by 10.4% YoY to ¥352.8 billion, with the average selling price of overseas crude oil falling 10.7% to $67.39 per barrel.
• The consolidated full-year forecast for fiscal year 2026 has been revised, with revenue projected to be in the range of ¥2,004.0 billion to ¥2,291.0 billion, and profit attributable to owners of the parent in the range of ¥350.0 billion to ¥450.0 billion. The annual dividend forecast remains unchanged at ¥108.00 per share (interim ¥54.00, year-end ¥54.00).

INPEX’s Q1 FY2026 results show a decline in revenue and profits, primarily attributed to lower selling prices for crude oil and natural gas. However, the depreciation of the Japanese Yen partially offset these declines, contributing to increased revenue. The revised full-year forecast indicates a broader range for expected performance, which investors may monitor for potential shifts in market conditions.

• Daiichi Kensetsu Kogyo Co., Ltd. announced its non-consolidated financial results for the fiscal year ended March 31, 2026 (April 1, 2025 – March 31, 2026).
• Net sales for the period amounted to ¥60,003 million, representing a 3.4% increase compared to the previous fiscal year.
• Operating income was ¥6,911 million (down 3.9% year-on-year), ordinary income was ¥7,508 million (down 1.3% year-on-year), and net income was ¥5,223 million (down 0.4% year-on-year).
• Earnings per share (EPS) for the fiscal year was ¥293.11, an increase from ¥278.00 in the prior year.
• The annual dividend for the fiscal year ended March 2026 was announced as ¥160 (up from ¥130 in the previous year), with ¥160 also projected for the fiscal year ending March 2027.
• Total assets stood at ¥86,339 million, net assets at ¥74,702 million, and the equity ratio was 86.5%.
• For the fiscal year ending March 2027, the company forecasts net sales of ¥69,000 million (up 15.0% year-on-year), operating income of ¥5,900 million (down 14.6% year-on-year), ordinary income of ¥6,300 million (down 16.1% year-on-year), and net income of ¥4,300 million (down 17.7% year-on-year).

Daiichi Kensetsu achieved an increase in net sales for FY2026/3, but various profit metrics saw a decline compared to the previous year, which may suggest impacts from factors such as rising cost of sales or increased selling, general and administrative expenses. Conversely, the increase in dividend payout could indicate a commitment to shareholder returns. The forecast for FY2027/3 shows continued sales growth but anticipated further declines in profit, making the evolution of the company’s profit structure a point worth monitoring for investors.

• JAC Recruitment Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 – March 31, 2026).
• For Q1, consolidated net sales were ¥13,539 million (up 14.8% year-on-year), operating profit was ¥4,389 million (up 28.7% YoY), ordinary profit was ¥4,395 million (up 28.4% YoY), and profit attributable to owners of parent was ¥3,003 million (up 28.5% YoY).
• Segment-wise, domestic talent placement business generated ¥12,332 million (up 14.8% YoY), domestic recruitment advertising business ¥114 million (up 17.0% YoY), and overseas business ¥1,092 million (up 14.4% YoY).
• The full-year consolidated performance forecast for the fiscal year ending December 2026 remains unchanged, with net sales projected at ¥53,200 million (up 15.4% from previous year), operating profit at ¥12,600 million (up 7.8% YoY), and profit attributable to owners of parent at ¥8,600 million (up 2.4% YoY).
• The annual dividend forecast for the fiscal year ending December 2026 is ¥38.00 (interim ¥19.00, year-end ¥19.00), with no revisions from the most recently published forecast.

JAC’s first-quarter results for the fiscal year ending December 2026 demonstrate strong revenue and profit growth, primarily driven by its robust domestic talent placement business. The operating profit growth rate exceeding that of sales may suggest an improvement in profitability. However, the unchanged full-year outlook indicates that the company views the current progress as aligning with its initial plans.

• HIP Inc. has announced its unaudited financial results for the full year ended March 2026.
• For the fiscal year ended March 2026, net sales were ¥6,193 million (+3.8% year-on-year), operating income was ¥572 million (+1.4%), ordinary income was ¥580 million (+2.8%), and net income was ¥432 million (+4.6%).
• Diluted earnings per share were ¥112.03, and net assets per share were ¥1,071.41.
• The annual dividend for the fiscal year ended March 2026 was ¥70.00 (ordinary dividend ¥55.00, 30th anniversary commemorative dividend ¥15.00), an increase from ¥54.00 in the previous fiscal year.
• For the fiscal year ending March 2027, the company forecasts net sales of ¥6,492 million (+4.8% year-on-year), operating income of ¥600 million (+4.7%), ordinary income of ¥615 million (+6.0%), and net income of ¥417 million (-3.6%).

HIP Inc. achieved increased revenue and profit for the fiscal year ended March 2026, alongside an increase in dividend, including a commemorative dividend. This performance may suggest the positive impact of increased engineer headcount and successful negotiations for appropriate technical service rates. While the company forecasts continued revenue growth for the upcoming fiscal year, the projected decrease in net income could indicate ongoing investments in human resources and recruitment activities, which may affect profitability in the short term.

• Soiken Holdings Co., Ltd. has revised its consolidated earnings forecast for the fiscal year ending June 2026 upwards.
• Operating profit is revised from the previous forecast of ¥50 million to ¥200 million, ordinary profit from ¥55 million to ¥215 million, and net profit attributable to parent company shareholders from ¥30 million to ¥120 million. The percentage increases are approximately 300.0% for all profit metrics.
• Net sales are revised downwards by ¥140 million (△3.5%), from the previous forecast of ¥4,000 million to ¥3,860 million.
• The revision is attributed to net sales progressing generally as planned during the cumulative third quarter, while profits significantly exceeded plans due to the progress of structural reforms and the effects of profitability improvement measures.
• For the fourth quarter, strategic upfront investments are planned for future growth, including system development for “Medical DX” and a “Comprehensive Healthcare Platform,” product development for a new cosmetics brand, advertising for the health supplement business, and M&A-related activities. Additionally, costs related to the termination of BB Laboratories Co., Ltd.’s business activities are expected to be recorded.

The upward revision of profit figures despite a downward adjustment in net sales may suggest that the company’s structural reforms and efforts to improve profitability are yielding positive results. The ability to increase profit forecasts while planning strategic upfront investments indicates strong underlying operational efficiency improvements. Investors may find it noteworthy that significant improvements in operating profit within the health supplement and cosmetics segments are contributing to the overall enhanced profitability.

• WORLD HOLDINGS Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending December 2026.
• Net sales reached ¥66,420 million, marking a 4.6% increase compared to the same period of the previous year.
• Operating profit was ¥1,884 million (down 24.6% year-on-year), ordinary profit was ¥1,870 million (down 22.3% year-on-year), and net income attributable to owners of parent was ¥686 million (down 43.1% year-on-year).
• The Products HR business segment reported net sales of ¥32,497 million (up 15.5% year-on-year) and segment profit of ¥993 million (up 32.3% year-on-year).
• The consolidated full-year forecast for FY2026 remains unchanged, projecting net sales of ¥300,326 million (up 5.6% year-on-year) and net income attributable to owners of parent of ¥6,966 million (up 5.2% year-on-year).

While net sales showed a year-on-year increase in the first quarter, key profit metrics declined, which could be attributed to the planned concentration of real estate property handovers in the latter half of the fiscal year, as stated in the IR document. The unchanged full-year earnings forecast suggests the company anticipates a recovery in profitability in the subsequent quarters. Investors may find it worthwhile to monitor the company’s performance in the upcoming quarters to assess the execution of this strategy.

• Net sales for the fiscal year ended March 2026 were ¥9,628 million, a decrease of 3.9% year-on-year.
• Operating profit reached ¥255 million, an increase of 99.0% compared to the previous fiscal year.
• Ordinary profit was ¥890 million, up 42.2% year-on-year.
• The company reported a net loss of ¥2,271 million, a decline from the net profit of ¥679 million in the previous year. This was primarily due to the recording of special losses, including an impairment loss of ¥2,984 million for the Kurasuwa-related business and advisory fees associated with delisting.
• The year-end dividend for the fiscal year ended March 2026 was revised to ¥0, from ¥45 in the previous year.
• Total assets stood at ¥54,045 million, net assets at ¥46,345 million, and the equity ratio was 85.8%.
• No forecasts for the fiscal year ending March 2027’s performance or dividends are provided, as the company’s shares are scheduled to be delisted on June 18, 2026.

Yomeishu Seizo’s FY2026 March results show a significant improvement in operating and ordinary profits despite a decline in net sales, which may indicate effective cost management or changes in promotional activities. However, the substantial net loss and zero year-end dividend, driven by special losses related to an impairment and delisting advisory fees, highlight the impact of strategic restructuring. For investors, the ongoing tender offer and subsequent delisting process are crucial factors in evaluating the company’s future value.

• Rigaku Holdings Corporation announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 – March 31, 2026).
• For the quarter, revenue was ¥17,933 million (down 13.0% year-on-year), operating profit was ¥630 million (down 77.8% year-on-year), and profit attributable to owners of the parent was ¥329 million (down 82.8% year-on-year).
• By business segment, the multi-purpose analytical instrument business saw a 27.7% decrease in revenue year-on-year, the semiconductor process control equipment business a 13.1% decrease, and the parts and services business a 13.2% increase.
• The full-year consolidated earnings forecast for the fiscal year ending December 2026 and the annual dividend forecast (¥19.00 per share) remain unchanged from the most recently published figures.
• As of the end of the quarter, the total number of shares issued (including treasury stock) was 226,402,700, and the number of treasury shares was 19,601.

While Rigaku’s Q1 revenue and profit declined year-on-year, the performance in the semiconductor process control equipment business reportedly exceeded expectations, which is a key highlight. The company attributed the decline in the multi-purpose analytical instrument business to the continued impact of “Trump policies” in the US from Q2 of the previous year, suggesting external market factors played a role. The unchanged full-year forecast indicates the company anticipates a recovery in performance from Q2 onwards, which could be a point of interest for investors.

• Yamami Co., Ltd. announced its financial results for the third quarter of the fiscal year ending June 2026 (July 1, 2025 to March 31, 2026).
• During this period, net sales amounted to JPY 17,450 million, representing a 9.9% increase year-over-year.
• Operating profit was JPY 1,998 million (up 50.7% YoY), ordinary profit was JPY 2,024 million (up 52.5% YoY), and quarterly net profit was JPY 1,400 million (up 14.1% YoY).
• Basic earnings per share for the quarter were JPY 201.00 (compared to JPY 176.20 in the prior year’s period).
• The full-year earnings forecasts (net sales JPY 23,000 million, operating profit JPY 2,500 million, ordinary profit JPY 2,490 million, net profit JPY 1,618 million) remain unchanged from the announcement on February 13, 2026.

Yamami has reported substantial increases across net sales and all profit metrics for the third quarter of fiscal year 2026 compared to the same period last year. The significant growth in operating and ordinary profits, exceeding 50%, is a notable highlight. However, as the full-year forecasts have not been revised, it may be prudent for investors to objectively assess the progress against these unrevised targets and their implications for the full fiscal year.

• P-INDEX Co., Ltd. reported net sales of ¥2,154 million for the interim period of the fiscal year ending September 2026 (October 1, 2025 – March 31, 2026), marking a 5.7% increase year-on-year.
• Operating profit reached ¥66 million (+14.5%), ordinary profit was ¥46 million (+38.4%), and interim net profit stood at ¥28 million (+53.5%).
• Basic earnings per share (interim) were ¥28.48, and diluted earnings per share (interim) were ¥27.87.
• Net sales for the Real Estate Related Business amounted to ¥1,643 million (an increase of ¥63 million year-on-year), while net sales for the Interior Sales and Renovation Business were ¥510 million (an increase of ¥53 million year-on-year).
• The full-year forecast for September 2026 remains unchanged, projecting net sales of ¥4,479 million (+6.8% year-on-year) and net profit of ¥60 million (+35.6% year-on-year).

P-INDEX’s interim results for FY2026 indicate robust performance with increases across sales and all profit metrics compared to the previous year’s interim period. This growth appears to be driven by contributions from investment property sales within the real estate business and improved unit sales prices and increased orders in the interior sales and renovation segments. The company states that progress is generally in line with its “NEXT STAGE 2025” mid-term management plan, suggesting a positive trajectory for its future business developments.

• MatsukiyoCocokara & Co. announced on May 13, 2026, a decision by its Board of Directors to increase the year-end dividend for the fiscal year ended March 31, 2026.
• The year-end dividend for FY2026 is increased by ¥2 from the previous forecast of ¥24.00 per share to ¥26.00 per share (ordinary dividend). The total dividend amount is ¥10,363 million.
• This year-end dividend is subject to approval at the 19th Annual General Meeting of Shareholders scheduled for June 19, 2026.
• The company provided a dividend forecast for the fiscal year ending March 2027, projecting an annual dividend of ¥56.00 per share (interim ¥28.00, year-end ¥28.00). This represents an increase of ¥6.00 per share compared to the FY2026 actual annual dividend of ¥50.00.
• The company states its dividend policy is based on progressive dividends, aiming to achieve a DOE (Dividend on Equity ratio (consolidated)) of 6% and a dividend payout ratio (consolidated) of 50% by the fiscal year ending March 2031.

This announcement indicates MatsukiyoCocokara’s commitment to enhancing shareholder returns through an upward revision of the FY2026 year-end dividend and a further increase in the FY2027 dividend forecast. The established long-term targets for DOE and a progressive dividend policy suggest a focus on stable and growing returns to shareholders, which may be a point of interest for investors.

• Ａｎｄ　Ｄｏ　ＨＬＤ reported revenue of ¥13,253 million (+19.7% YoY) and operating profit of ¥798 million (+766.3% YoY) for the third quarter (January-March) of the fiscal year ending June 2026.
• Net income attributable to parent company shareholders reached ¥1,546 million, an increase of 182.2% compared to the same period last year.
• For the nine months ended March 31, 2026 (July 1, 2025 to March 31, 2026), consolidated results showed revenue of ¥39,225 million, ordinary profit of ¥1,231 million, and net income attributable to parent company shareholders of ¥1,626 million.
• Progress rates against full-year forecasts are 71.3% for revenue (¥39,225 million against a forecast of ¥55,000 million) and 41.1% for ordinary profit (¥1,231 million against a forecast of ¥3,000 million).
• The increase in revenue and profit in Q3 was influenced by significant real estate sales transactions, as well as the reduction in selling, general and administrative expenses and gain on transfer from the divestiture of the reform business.
• The company initiated a “Business Credit Guarantee” service in its financial business starting April 1.

The substantial increase in revenue and profit for the standalone third quarter (Jan-Mar), particularly the significant growth in net income attributable to parent company shareholders, warrants attention. While revenue progress against the full-year forecast is on track, ordinary profit progress at 41.1% suggests that the fourth quarter’s performance will be crucial to meet annual targets. The ongoing business portfolio transformation, including the divestiture of the reform business and the launch of new financial services, may also influence future performance.

• For the fiscal year ended March 2026, consolidated net sales were ¥13,174 million, representing a 1.3% increase year-on-year.
• Consolidated operating profit for the same period was ¥137 million (compared to an operating loss of ¥259 million in the previous year), and consolidated ordinary profit was ¥118 million (compared to an ordinary loss of ¥319 million in the previous year), marking a return to profitability.
• Net loss attributable to owners of parent significantly narrowed to ¥(77) million, from ¥(1,089) million in the prior year.
• For the fiscal year ending March 2027, the company forecasts consolidated net sales of ¥14,000 million (up 6.3% year-on-year), operating profit of ¥260 million (up 88.5%), ordinary profit of ¥200 million (up 69.3%), and net profit attributable to owners of parent of ¥150 million.
• Dividends per share for FY2025/3, FY2026/3, and the FY2027/3 forecast are all ¥0.00.

Transgenic Group’s FY2026/3 results highlight a return to operating and ordinary profitability, alongside a modest revenue increase. This suggests that the company’s efforts in expanding high-value new services and cost reduction in its drug discovery support business, as well as pricing and cost control in its investment and consulting segments, may be contributing to improved financial performance. The significant reduction in net loss attributable to parent also indicates a positive shift in overall profitability despite certain special losses. The optimistic FY2027/3 forecast, projecting further revenue and profit growth, could suggest management’s confidence in the continued impact of these strategic initiatives.

• IMV Corporation announced its consolidated financial results for the second quarter of the fiscal year ending September 2026.
• Net sales reached ¥11,511 million (up 20.8% year-on-year), operating profit was ¥1,873 million (up 26.6%), ordinary profit ¥2,088 million (up 33.2%), and net profit attributable to parent company shareholders ¥1,462 million (up 22.4%).
• By product segment, “Vibration Simulation Systems” reported sales of ¥8,727 million (up ¥1,724 million year-on-year), and “Test & Solution Services” recorded ¥2,200 million (up ¥333 million year-on-year). “Measuring Systems” sales were ¥582 million (down ¥72 million year-on-year).
• The equity ratio increased by 0.9 percentage points to 51.9% from 51.0% at the end of the previous consolidated fiscal year.
• The consolidated full-year performance forecast and the annual dividend forecast (¥30.00 at year-end, total ¥30.00) for the fiscal year ending September 2026 remain unchanged.

IMV’s Q2 FY2026 results show robust performance with double-digit growth across all key profit metrics, indicating a strong operational period. The increase in sales is attributed to solid capital investment demand from the aerospace and automotive industries, suggesting that industrial shifts and technological advancements are driving demand for their solutions. Despite increased R&D and human capital investments, the company’s efforts to improve profitability appear to have contributed to the reported profit growth.

• Yamaichi’s consolidated results for the fiscal year ended March 2026 reported net sales of ¥17,638 million (down 15.6% YoY), operating income of ¥2,052 million (up 17.0% YoY), ordinary income of ¥1,302 million (up 6.3% YoY), and net income attributable to owners of parent of ¥640 million (down 6.1% YoY).
• Compared to the initial plan (disclosed in May 2025), net sales increased by 0.2%, operating income by 115.7%, ordinary income by 336.5%, and net income attributable to owners of parent by 391.3%, significantly surpassing profit targets.
• The real estate development and sales business contributed significantly to the profit increase due to the accelerated sale of corporate real estate.
• Conversely, the condominium business saw a decrease in sales and operating income, with the number of units supplied falling from 8 buildings (237 units) in FY2025/3 to 5 buildings (119 units) in FY2026/3.
• The consolidated earnings forecast for the fiscal year ending March 2027 projects net sales of ¥31,395 million (up 78.0% YoY), operating income of ¥2,864 million (up 39.6% YoY), ordinary income of ¥2,013 million (up 55.7% YoY), and net income attributable to owners of parent of ¥1,178 million (up 83.9% YoY), aiming for record-high sales and operating income since listing.

• NeedsWell announced its Q2 FY2026 financial results, achieving its first-half consolidated business plan.
• For the first half, sales reached JPY 5,206 million (100.1% of plan, 103.4% YoY), operating profit JPY 608 million (101.5% of plan, 82.9% YoY), and ordinary profit JPY 621 million (103.6% of plan, 83.7% YoY).
• Excluding shareholder benefit expenses (JPY 172 million), operating profit was JPY 781 million (approx. 107.0% YoY) and ordinary profit was JPY 794 million (approx. 107.0% YoY), indicating improved productivity.
• All service lines showed increased sales: Solutions (103.9% YoY), Business System Development (103.2% YoY), and IT Infrastructure (103.7% YoY).
• The ordinary profit margin was maintained at 11.9%, and the equity ratio stood at 73.5%.

NeedsWell’s Q2 results, meeting the first-half plan and demonstrating year-over-year growth in profits when excluding shareholder benefit expenses, could suggest a stable operational performance. The robust performance in DX-related solutions appears to be a key driver for overall revenue expansion. The sustained ordinary profit margin and high equity ratio may indicate the company’s strong financial health and ability to support future growth initiatives.

• Sinto Kogyo announced its financial highlights for the fiscal year ended March 2026.
• Consolidated net sales totaled ¥176.1 billion, with an operating profit of ¥3.8 billion (operating profit margin of 2.2%).
• New orders amounted to ¥159.1 billion, and the order backlog stood at ¥49.3 billion.
• By segment, the Surface Treatment sector reported net sales of ¥96.4 billion and an operating profit of ¥1.0 billion (1.1% operating profit margin).
• The Casting sector achieved net sales of ¥51.6 billion and an operating profit of ¥1.93 billion (3.7% operating profit margin).
• The Environment sector recorded net sales of ¥13.4 billion and an operating profit of ¥1.7 billion (13.0% operating profit margin).
• The Special Machines sector posted net sales of ¥7.2 billion and an operating loss of ¥0.99 billion (-13.7% operating profit margin).
• The Material Handling sector generated net sales of ¥8.1 billion and an operating profit of ¥0.89 billion (10.9% operating profit margin).

Sinto Kogyo’s FY2026/3 results indicate robust net sales, with the Surface Treatment and Casting segments being key drivers of overall revenue growth. The decline into an operating loss within the Special Machines sector may be a point of interest for investors, suggesting a need to monitor future strategic adjustments in this area. The company’s overall operating profit margin of 2.2% highlights varying profitability across its diverse business segments.

• G-Amiya’s consolidated results for the first quarter of the fiscal year ending December 2026 (January 1, 2026, to March 31, 2026) showed net sales of ¥1,762 million (up 26.8% year-on-year), operating profit of ¥347 million (up 23.1%), ordinary profit of ¥331 million (up 19.0%), and profit attributable to owners of parent of ¥227 million (up 14.2%).
• By segment, Data Security reported net sales of ¥722 million (up 32.5% year-on-year) and segment profit of ¥346 million (up 54.1%). Network Security reported net sales of ¥1,039 million (up 23.1% year-on-year) and segment profit of ¥257 million (down 1.3%).
• The full-year consolidated forecast for FY2026 (January 1, 2026, to December 31, 2026) remains unchanged from the announcement on February 12, 2026, projecting net sales of ¥7,002 million (up 18.0% year-on-year), operating profit of ¥1,200 million (up 14.1%), ordinary profit of ¥1,188 million (up 13.3%), and profit attributable to owners of parent of ¥850 million (up 13.3%).
• Total assets at the end of the first consolidated accounting period were ¥7,197 million (an increase of ¥257 million from the end of the previous consolidated fiscal year), and net assets were ¥2,010 million (a decrease of ¥823 million).
• Diluted earnings per share for the quarter were ¥27.19 (compared to ¥24.13 in the same period of the previous year).

G-Amiya demonstrated robust revenue and profit growth in Q1 FY2026, primarily driven by strong performance in both Data Security and Network Security segments. The significant increase in the Data Security segment’s sales and profit, fueled by demand related to the SCS evaluation system and ransomware incident analysis, appears noteworthy. However, the Network Security segment’s slight decrease in segment profit, attributed to upfront promotional and R&D investments in SASE, may indicate a strategic focus on future growth areas while potentially impacting near-term profitability.

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

• Mitsui Matsushima Holdings has decided on a year-end dividend of ¥41 per share (¥205 pre-split) for the fiscal year ended March 31, 2026.
• This brings the total annual dividend for FY2026/3 to ¥64 per share (¥320 pre-split), including the interim dividend of ¥23.
• The total dividend amount for FY2026/3 is ¥1,610 million, sourced from retained earnings.
• The company forecasts an annual dividend of ¥74 per share for FY2027/3, representing a ¥10 increase from the FY2026/3 actual dividend.
• Mitsui Matsushima HD implemented a 1-for-5 stock split of common shares effective October 1, 2025.

This announcement highlights Mitsui Matsushima HD’s decision on the year-end dividend for FY2026/3 and its forecast for an increased dividend in the next fiscal year (FY2027/3). This suggests a continued commitment to shareholder returns as a key management policy. The projected consecutive dividend increases, even after the stock split, could be seen as an indication of the company’s ongoing focus on shareholder distributions.

• K&O Energy Group Co., Ltd. reported consolidated net sales of 25,453 million yen for the first quarter of the fiscal year ending December 2026, a decrease of 3.0% compared to the prior year period.
• Operating income increased by 8.1% to 3,667 million yen, and ordinary income rose by 7.4% to 3,923 million yen year-on-year.
• Net income attributable to owners of the parent decreased by 25.5% to 2,404 million yen due to the absence of extraordinary income (compensation for facility relocation) recorded in the previous year.
• By segment, the iodine business saw sales increase by 11.4% and operating income rise by 7.4%. The gas business experienced a 7.4% decline in sales, but operating income remained flat year-on-year.
• The company plans a 2-for-1 stock split of common shares, effective July 1, 2026.
• The full-year dividend forecast for the fiscal year ending December 2026 has been revised, with an expected 60 yen 00 sen per share on a pre-split basis.

K&O Energy Group’s first-quarter results show a mixed picture, with sales declining but operating and ordinary income increasing, primarily driven by the strong performance of its iodine business. The decrease in net income attributable to owners of the parent appears to be a result of the non-recurrence of an extraordinary gain from the previous year. The announced stock split and revised dividend forecast could be viewed by investors as measures to enhance share liquidity and deliver shareholder returns.

• Ohmoto-Gumi announced its non-consolidated financial results for the fiscal year ended March 2026.
• Net sales reached ¥87.448 billion, representing a 24.8% increase compared to the previous fiscal year.
• Operating profit was ¥2.362 billion (up 30.2% YoY), ordinary profit was ¥2.708 billion (up 28.3% YoY), and profit attributable to owners of parent was ¥1.813 billion (up 1.4% YoY).
• Earnings per share (EPS) for the period was ¥71.33.
• For the fiscal year ending March 2027, the company forecasts net sales of ¥98.000 billion (up 12.1% YoY), operating profit of ¥4.200 billion (up 77.8% YoY), and profit attributable to owners of parent of ¥2.700 billion (up 48.9% YoY).
• The year-end dividend for FY2026/3 was ¥50.00 per share, with a forecast of ¥74.00 for FY2027/3.
• Total assets stood at ¥103.574 billion (up ¥13.435 billion YoY), and net assets were ¥68.700 billion (up ¥3.838 billion YoY).

Ohmoto-Gumi’s FY2026/3 results demonstrate robust performance, with increases across all key financial metrics, signaling a period of growth. The substantial year-on-year growth projected for sales and profits in FY2027/3, if achieved, could indicate strong business momentum and effective strategy implementation. The announced dividend increase for the current period and the forecasted further increase for the next fiscal year may suggest a commitment to enhancing shareholder returns, which could be a point of interest for investors.

• ASMO Co., Ltd. announced changes to its shareholder benefit program on May 13, 2026.
• The changes pertain to the equivalent value and delivery timing of the special gifts, which were previously announced for content modification on February 26, 2026.
• For shareholders holding 500 shares or more, the revised benefit includes “Matsusaka Beef Curry (1 serving) x 1,” “Kobe Beef Curry (1 serving) x 1,” “Matsusaka Beef Yakiniku Canned (170g) x 1,” and “Kobe Beef Yakiniku Canned (170g) x 1,” with an equivalent value of JPY 7,300. Previously, it was “Matsusaka Beef Curry (1 serving) x 3” and “Matsusaka Beef Yakiniku Canned (170g) x 1,” with an equivalent value of JPY 6,200.
• There are no changes to the content or equivalent value of the special gifts for shareholders holding 300 shares or more, or 1,000 shares or more.
• The delivery period will be advanced from “sequentially shipped from early December” to “sequentially shipped from late November.”
• These changes will be implemented starting from the shareholder benefit program with a record date of September 30, 2026.

The announced changes to ASMO’s shareholder benefit program primarily involve a revision of the composition and equivalent value of the special gifts for shareholders holding 500 shares or more, as well as an earlier delivery schedule. The company stated that these changes aim to improve the efficiency of the benefit program operation and enhance shareholder returns, which may be seen as a positive development for investors. The addition of Kobe beef products to the 500-share tier expands the variety of offerings and increases the equivalent value, which could be an appealing aspect for eligible shareholders.

• Star Mica Holdings revised its consolidated financial forecasts upwards for the second quarter (interim) and full fiscal year ending November 2026.
• Interim revenue forecast increased from JPY 38,764 million to JPY 43,182 million, and interim net income attributable to owners of parent from JPY 2,890 million to JPY 4,067 million.
• Full-year revenue forecast increased from JPY 84,715 million to JPY 89,168 million, and full-year net income attributable to owners of parent from JPY 5,095 million to JPY 6,030 million.
• The dividend forecast for the fiscal year ending November 2026 was also revised, with both interim and year-end dividends set at JPY 25.50 per share, totaling JPY 51.00 annually.
• Reasons for the revisions include successful return to owner-change properties, optimizing the cycle from acquisition to renovation sales and increasing units sold, as well as strengthened sales in urban mid-to-high price range areas, leading to higher average selling prices and gross profit margins.

Star Mica Holdings’ upward revision of its earnings and dividend forecasts suggests positive progress in its “Find the Value 2026” mid-term management plan. The emphasis on returning to a profitable business model and strategic urban sales appears to be driving improved margins, which could be a key point for investors to monitor. The increased dividend reflects the company’s commitment to shareholder returns based on its capital allocation policy.

• For the first quarter of the fiscal year ending December 2026, consolidated net sales were ¥607 million, a decrease of 7.6% year-on-year.
• Consolidated operating profit for the same quarter was ¥3 million, a decrease of 94.1% year-on-year.
• The PIXTA business reported net sales of ¥453 million, a 15% decrease year-on-year, while securing a segment operating profit of ¥174 million.
• The fotowa business recorded net sales of ¥71 million, a 25% decrease year-on-year, and an operating loss of ¥20 million.
• The revenue share of the “Photography & Creative Experience” business (fotowa + Other businesses) expanded from 18.7% in Q1 2025 to 25.3% in Q1 2026.
• Strategic investments in new businesses within the “Other” segment amounted to ¥27 million, and a new consolidation of YASUMI WORKS contributed ¥15 million in expenses.
• The full-year consolidated performance forecast for the fiscal year ending December 2026 projects net sales of ¥2,877 million (an 8.0% increase year-on-year) and operating profit of ¥163 million (an 8.0% increase year-on-year).

Pixta’s Q1 results indicate a decline in revenue and profit, primarily influenced by a decrease in the PIXTA business and ongoing strategic investments in new ventures. However, the expanding revenue share of the “Photography & Creative Experience” segment suggests a deliberate shift in the business portfolio aimed at diversifying revenue streams. The company’s full-year forecast of increased sales and operating profit implies an expectation for the fotowa and other new businesses to drive recovery and growth in the coming quarters.

• Thermae-Yu Holdings Co., Ltd. reported consolidated net sales of 2,695 million yen for the fiscal year ended March 2026, a 36.1% increase year-over-year.
• For the same period, operating profit was 308 million yen (down 9.7% YoY), ordinary profit was 308 million yen (down 9.1% YoY), and net profit attributable to owners of parent was 161 million yen (down 15.5% YoY).
• Diluted earnings per share for the fiscal year was 6.00 yen (compared to 7.23 yen in the prior period).
• The company announced a year-end dividend of 5.00 yen per share for FY2026, totaling 5.00 yen for the full year, consistent with the prior year.
• For the fiscal year ending March 2027, the company forecasts consolidated net sales of 3,060 million yen (up 13.5% YoY), operating profit of 320 million yen (up 3.8% YoY), and net profit attributable to owners of parent of 180 million yen (up 11.2% YoY).

The FY2026 results show a significant increase in revenue but a decline in profits, which might reflect the challenging economic environment including rising prices and labor shortages mentioned in the company’s report.

However, the company projects revenue and profit growth for FY2027, suggesting an optimistic outlook for its future business strategies and profit recovery. The increase in the dividend payout ratio to 81.7% may also indicate a commitment to shareholder returns.

• SRA Holdings (SRAHD) has resolved to increase its dividend payment for the surplus, with the record date set for March 31, 2026.
• The dividend per share will be raised from the previously forecast ¥100 (announced on November 12, 2025) to ¥110.
• This increase results in an annual dividend of ¥200, combining with an interim dividend of ¥90, marking a ¥20 increase from the previous fiscal year (March 2025) annual dividend of ¥180.
• The total dividend amount will be ¥1,389 million, and the effective date for the dividend payment is June 10, 2026.
• The company cited achieving approximately expected levels for net sales and operating profit, exceeding earnings forecasts for ordinary profit and net profit, and setting new “record highs” across all these categories as reasons for the dividend increase.
• The payout ratio for the current period will be 45.1%.

This dividend increase by SRAHD appears to align with the company’s stated policy of “further enhancing shareholder returns,” backed by its achievement of record-high profits. The exceeding of ordinary and net profit forecasts seems to be a key driver for the additional increase. The decision to raise the dividend to ¥110 per share, resulting in a 45.1% payout ratio after considering factors like foreign exchange gains, could indicate the company’s commitment to returning profits to shareholders in line with its strong financial performance.

• For the fiscal year ended March 2026, consolidated net sales were ¥4,322 million, marking a 65.8% increase year-over-year, yet 3.9% below the plan.
• Operating income was ¥276 million (down 15.9% YoY), ordinary income was ¥324 million (down 9.9% YoY), and net income attributable to owners of the parent was ¥156 million (down 41.8% YoY).
• Sales breakdown (before consolidation adjustments) shows software business at ¥2,492 million (56%), system integration business at ¥1,335 million (30%), and AI-related business at ¥638 million (14%), indicating progress in business portfolio diversification.
• The gross profit margin was 51.67% (vs. 69.54% previous year), and the operating profit margin was 6.41% (vs. 12.63% previous year), influenced by increased product manufacturing costs, personnel expenses, and goodwill amortization due to M&A.
• Monthly Recurring Revenue (MRR) for the software business expanded to ¥89 million in March 2026.

Data Applications’ FY2026 March results indicate significant revenue growth driven by business expansion through M&A, while profitability was impacted by increased personnel, M&A-related costs, and goodwill amortization. The decline in gross and operating profit margins could suggest a temporary effect from changes in business composition or a shift in the overall business structure, which is worth monitoring for future trends. Concurrently, the high recurring revenue ratio and steady growth in MRR within the software business may suggest the establishment of a stable revenue foundation.

• Furubayashi Shiko announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026, to March 31, 2026).
• Net sales amounted to ¥4,232 million, representing a 1.2% decrease compared to the same period in the previous year.
• Operating profit was ¥79 million (down 55.5% year-on-year), ordinary profit was ¥79 million (down 56.8% year-on-year), and profit attributable to owners of parent was ¥45 million (down 64.7% year-on-year).
• By segment, sales in Japan were ¥3,659 million (down 0.6% year-on-year), with segment profit of ¥206 million (up 23.3% year-on-year). China’s sales were ¥757 million (down 11.2% year-on-year), resulting in a segment loss of ¥59 million (compared to a profit of ¥45 million in the prior year’s period).
• The consolidated full-year forecast for the fiscal year ending December 2026 remains unchanged, projecting net sales of ¥18,500 million, operating profit of ¥350 million, ordinary profit of ¥350 million, and profit attributable to owners of parent of ¥250 million.

Furubayashi Shiko’s Q1 FY2026 results show a slight decrease in net sales but significant declines in all profit metrics year-on-year. This appears to be primarily driven by a continuous decrease in orders from existing clients in China, as stated in the report. Conversely, the domestic Japanese business saw an increase in segment profit due to price revisions and production system optimizations, indicating varied performance across regions. Given that the full-year earnings forecast remains unchanged, future developments will be worth monitoring.

• Tokai Carbon announced a change to its shareholder return policy, effective from the fiscal year 2026 (ending December 2026).
• The revised policy aims for a consolidated dividend payout ratio of approximately 40% or an adjusted DOE (dividend on equity) of 5% based on shareholder equity at the end of the previous fiscal year, whichever is higher, as a progressive dividend.
• The dividend forecast for the fiscal year ending December 2026 has been revised upwards from ¥30 per share to ¥40 per share, representing an increase of ¥10.
• The company stated its policy to reduce policy-held shares by approximately 70% by December 2028 compared to December 2025, bringing the ratio to consolidated net assets down to around 3%.
• Special gains resulting from the reduction of policy-held shares are planned to be utilized for share repurchases.

This announcement suggests a heightened focus on capital efficiency and shareholder returns. The introduction of an adjusted DOE as a dividend benchmark and the explicit progressive dividend policy could offer investors more stable returns. Furthermore, the significant reduction of policy-held shares and the commitment to utilize proceeds for share buybacks may indicate a strong commitment to optimizing capital structure and enhancing shareholder value.

• Araya Industrial Co., Ltd. announced its consolidated financial results for the fiscal year ended March 31, 2026.
• Net sales amounted to ¥40,447 million, representing a 5.6% decrease from the previous fiscal year.
• Operating profit was ¥1,885 million (up 14.9% year-on-year), and ordinary profit was ¥2,306 million (up 21.0% year-on-year).
• Profit attributable to owners of parent was ¥1,521 million, a 28.5% decrease compared to the previous fiscal year.
• For the fiscal year ending March 31, 2027, the consolidated performance forecast projects net sales of ¥42,000 million (up 3.8%), operating profit of ¥2,400 million (up 27.3%), ordinary profit of ¥2,500 million (up 8.4%), and profit attributable to owners of parent of ¥1,700 million (up 11.8%).
• The annual dividend for FY2026/3 was ¥320.00 (¥220.00 at year-end), and the projected annual dividend for FY2027/3 is ¥150.00 (post-stock split).

Araya Industrial’s FY2026/3 consolidated results show a decrease in net sales, but a double-digit increase in operating and ordinary profits, which may suggest improvements in profitability initiatives. Conversely, the decline in profit attributable to owners of parent could indicate the impact of non-operating items. The company’s forecast for the next fiscal year projects increases in both revenue and profit, implying expectations for business environment recovery or the effects of strategic initiatives.

• Consolidated net sales for the fiscal year ended March 2026 were ¥11.56 billion, an increase of 15.6% year-on-year.
• Consolidated operating profit for the same period was ¥0.4 billion, representing an 80.1% decrease year-on-year.
• Consolidated net profit for the same period was ¥0.27 billion, representing an 80.1% decrease year-on-year.
• The company operates four businesses: Medical Platform, Smart Clinic, Dental Distribution, and DX. As of the end of March 2026, the revenue composition was Medical Platform 43.5%, Smart Clinic 28.9%, Dental Distribution 20.7%, and DX 2.7%.
• For the fourth quarter (January-March 2026), net sales were ¥3.63 billion and operating profit was ¥0.42 billion, marking year-on-year increases of 51.8% and 6.1%, respectively.

GENOVA’s FY2026/3 results show that M&A contributed to revenue growth, while significant investment in new business areas and increased costs from existing service changes impacted profitability. The decline in operating profit appears to be influenced by service realignments in the Medical Platform business during Q3 and initial cost ratios in the newly launched Dental Distribution business. The strong rebound in core business sales, reaching a record high in the fourth quarter, could indicate a potential turning point worth monitoring for future performance.

• SUNNY SIDE UP announced that its Board of Directors has approved and recommended shareholders to tender their shares in the tender offer by Akatsuki Co., Ltd.
• The tender offer aims for Akatsuki to fully acquire SUNNY SIDE UP and integrate their management, leading to the delisting of SUNNY SIDE UP’s shares.
• The tender offer price is ¥1,320 per common share and ¥65,900 per 8th series share option.
• The tender offer period will run for 30 business days, from May 14, 2026, to June 24, 2026.
• The minimum number of shares to be purchased is 5,551,400 shares, representing 37.48% of the total share ownership after the tender offer.
• Several key shareholders, including Representative Director Tokuhito Watanabe and Executive Officer Hidetoshi Nakata, have agreed to tender all of their shares (totaling 1,847,900 shares, or 12.48% ownership) in the tender offer.
• President and Representative Director Etsuko Tsugihara and her asset management company, Next Field Co., Ltd. (NF), have also agreed to tender a portion of their shares.

This announcement marks a significant move towards SUNNY SIDE UP becoming a wholly-owned subsidiary of Akatsuki and integrating their operations. For existing shareholders, this presents an opportunity to sell their shares at the offered price, but also implies the impending delisting of the company’s shares. The agreement of multiple major shareholders to tender their shares suggests a high likelihood of the tender offer’s successful completion.

• Akatsuki Inc. (3932) has resolved to commence a Tender Offer (TOB) for the common shares and stock acquisition rights of Sunnyside Up Group Inc. (2180).
• This TOB is part of a business integration transaction between the two companies, with a subsequent share exchange planned where Akatsuki will be the wholly-owning parent company and Sunnyside Up Group the wholly-owned subsidiary.
• Akatsuki has entered into TOB application agreements or application/non-application agreements with multiple shareholders of Sunnyside Up Group, including its representative director, Etsuko Tsugihara, and her asset management company, Next Field Co., Ltd.
• The minimum number of shares to be purchased in this Tender Offer is set at 5,551,400 shares (ownership ratio: 37.48%), with no upper limit specified.
• Sunnyside Up Group has agreed to support the Tender Offer and recommend its shareholders and stock acquisition right holders to tender their shares.

This announcement indicates Akatsuki’s clear intent to acquire all shares of Sunnyside Up Group and proceed with a business integration. The tender offer, followed by a share exchange, suggests an expectation of significant business synergies between the two entities. The pre-arranged agreements with major shareholders of the target company may suggest a high probability of the TOB’s success, making the progression of this integration process worth monitoring.

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

• Umenoyado Shuzo Co., Ltd. announced its unaudited financial results for the third quarter of the fiscal year ending June 2026 (July 1, 2025 – March 31, 2026).
• For the cumulative nine-month period, net sales were JPY 2,359 million, operating profit was JPY 462 million, ordinary profit was JPY 456 million, and quarterly net profit was JPY 301 million.
• Earnings per share for the quarter were calculated at JPY 50.08.
• As of March 31, 2026, total assets amounted to JPY 6,311 million, net assets were JPY 3,506 million, and the equity ratio was 55.6%.
• The full-year forecast for FY2026 remains unchanged from the most recently announced forecast, projecting net sales of JPY 3,019 million (up 12.4% year-on-year), operating profit of JPY 482 million (up 52.0%), ordinary profit of JPY 457 million (up 49.3%), net profit of JPY 315 million (up 30.3%), and earnings per share of JPY 52.43.
• The company conducted a 1-for-20 stock split of its common shares on April 17, 2025.
• Umenoyado Shuzo was listed on the Tokyo Stock Exchange Standard Market on April 24, 2026.

Umenoyado Shuzo has released its first quarterly financial results since its listing on the Tokyo Stock Exchange Standard Market. This marks the beginning of regular financial disclosures as a listed company, providing investors with ongoing transparency into its performance. The company mentioned that price revisions for its flagship “Aragoshi series” contributed to the sound development of its revenue structure, which may be a point for investors to monitor regarding future profitability. The increase in tangible fixed assets, particularly for land acquisition and development costs for a second brewery, could indicate strategic investments for future business expansion.

• Interspace reported consolidated results for the second quarter of the fiscal year ending September 2026 (October 1, 2025 – March 31, 2026): Revenue of ¥4,945 million (+10.7% YoY), operating profit of ¥436 million (+49.3% YoY), ordinary profit of ¥497 million (+77.2% YoY), and net profit attributable to parent company shareholders of ¥314 million (+132.9% YoY).
• By segment, the Performance Marketing business recorded revenue of ¥3,633 million (+28.5% YoY) and segment profit of ¥374 million (+54.0% YoY).
• The Media business reported revenue of ¥1,312 million (-19.9% YoY) and segment profit of ¥61 million (+25.8% YoY).
• As of Q2, progress towards the full-year consolidated earnings forecast stood at 50% for revenue, 62% for operating profit, 67% for ordinary profit, and 74% for net profit.
• An increase in non-operating income due to exchange rate effects and a recovery in profitability of consolidated subsidiaries contributed to the improvement in net profit.

Interspace’s Q2 FY2026 results show significant revenue and profit growth, primarily driven by the strong performance of its Performance Marketing segment. The improvement in profitability from overseas performance advertising seems to be a key factor. While profit metrics indicate high progress towards full-year targets, the company’s decision to maintain its full-year forecast, citing current business conditions, suggests a cautious outlook that investors may wish to monitor for future updates.

• Daido Limited announced its consolidated financial results for the fiscal year ended March 2026.
• Consolidated net sales amounted to ¥32,502 million, representing a 13.6% increase compared to the previous fiscal year.
• Consolidated operating profit was ¥371 million, a significant turnaround from an operating loss of ¥64 million in the prior period.
• Net profit attributable to owners of parent reached ¥1,893 million, improving substantially from a loss of ¥2,483 million in the previous year.
• The company achieved its operating profit target of ¥365 million for the second year of its first mid-term management plan.
• The scope of consolidation changed, with Japan Blue Co., Ltd. newly included and Daidoh Limited (Shanghai) Co., Ltd. excluded.

Daido’s FY2026/3 results, marking its first operating profit in 13 years, may suggest positive momentum in its business restructuring efforts. The consolidation of Japan Blue Co., Ltd. appears to have been a key factor contributing to the revenue and operating profit improvement. Investors may wish to monitor further progress in enhancing profitability of existing apparel brands and the execution of its mid-term management plans.

• Metaplanet, Inc. announced its consolidated financial results for the first quarter of the fiscal year ending December 2026 (January 1, 2026 – March 31, 2026).
• Revenue was ¥3,080 million, representing a 251.1% increase compared to the same quarter of the previous year.
• Operating profit reached ¥2,267 million, an increase of 282.5% year-on-year.
• Ordinary profit was a loss of ¥114,928 million, and net loss attributable to owners of the parent was ¥114,493 million.
• Total assets stood at ¥466,654 million, net assets at ¥402,962 million, and the equity ratio was 86.2%.
• As of May 12, 2026, the market value of the company’s Bitcoin holdings reached approximately ¥514.0 billion.
• For the full fiscal year ending December 2026, the company forecasts consolidated revenue of ¥16,000 million (+79.7% YoY) and operating profit of ¥11,400 million (+81.3% YoY), with no revisions to previous forecasts.
• The annual dividend forecast for ordinary shares for FY2026 is ¥0.00 per share. For Class B shares, a dividend of ¥12.25 per share, totaling ¥289 million, was announced for the first quarter.
• During this consolidated accounting period, there was a significant change in the scope of consolidation, with Metaplanet Ventures, Inc. newly included.

Metaplanet’s Q1 FY2026 results show a substantial increase in revenue and operating profit, which may indicate growth in its core business activities. However, the significant ordinary loss and net loss attributable to parent company shareholders could suggest that the “Bitcoin Standard” strategy, where Bitcoin is held as a primary reserve asset, is influencing the P/L due to Bitcoin price fluctuations. Investors may monitor how the company balances its strategic Bitcoin holdings with its operational profitability, particularly given its strong equity ratio and the implications of the newly consolidated entity.

• Delica Foods Holdings Co., Ltd. has entered into a capital and business alliance agreement with the Development Bank of Japan Inc. (DBJ).
• In connection with this alliance, Delica Foods HD will issue its 1st unsecured convertible bond-type stock acquisition rights and 1st stock acquisition rights through a third-party allotment to DBJ.
• The proceeds from the convertible bond-type stock acquisition rights are intended to be allocated towards capital investments for the Tokai Mother Center and a portion of the planned Shiraoka Project (food and agricultural distribution hub) in Saitama Prefecture.
• The stock acquisition rights are planned for future growth strategy investments, including M&A (targeting logistics businesses).
• DBJ is expected to support Delica Foods HD in areas such as diversifying funding sources, planning and executing medium-to-long-term growth strategies, strengthening the fruit and vegetable supply chain, and enhancing management sophistication and efficiency.

This announcement suggests Delica Foods HD aims to accelerate its growth strategies by leveraging stable funding and management support from DBJ, a government-backed financial institution. The focus on addressing domestic agricultural challenges and strengthening the supply chain could contribute to the company’s long-term corporate value. Investors may monitor how DBJ’s multifaceted support assists Delica Foods HD in evolving into an “infrastructure provider for the foodservice and prepared meal industry.”

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

• Kanamic Network Co., Ltd. announced its consolidated financial results for the second quarter of the fiscal year ending September 2026.
• Consolidated net sales for the interim period amounted to ¥3,134 million, representing a 17.8% increase compared to the previous interim period.
• EBITDA was ¥1,217 million (up 26.3% YoY), and operating profit reached ¥1,000 million (up 30.9% YoY).
• Ordinary profit was ¥1,009 million (up 32.1% YoY), and interim net profit attributable to parent company shareholders was ¥670 million (up 29.3% YoY).
• Interim diluted earnings per share stood at ¥14.12.
• Within the core Medical and Nursing Care Cloud Platform Business, “Kanamic Cloud Service” sales were ¥1,619 million (up 8.6% YoY), and “Other Services” sales were ¥217 million (up 223.4% YoY).
• The full-year consolidated earnings forecast for the fiscal year ending September 2026 remains unchanged, with projected net sales of ¥6,350 million (up 15.4% YoY), ordinary profit of ¥2,050 million (up 27.1% YoY), and net profit attributable to parent company shareholders of ¥1,370 million (up 23.2% YoY). The annual dividend forecast is also unchanged at ¥9.00 per share.

The Q2 FY2026 results indicate continued strong growth across sales and various profit metrics, with double-digit increases year-over-year. The significant surge in “Other Services” revenue suggests a substantial contribution from customized development for large clients. As the full-year forecasts for both performance and dividends remain unchanged, investor attention may focus on the company’s progress towards these targets in the coming quarters.

• UEX Corporation announced its consolidated financial results for the fiscal year ended March 31, 2025 (April 1, 2024 – March 31, 2025).
• Net sales were ¥49,725 million (down 1.1% year-on-year), operating profit was ¥1,298 million (down 26.7% year-on-year), and ordinary profit was ¥1,259 million (down 26.6% year-on-year).
• Net profit attributable to parent company shareholders was ¥667 million (down 28.1% year-on-year).
• Basic earnings per share stood at ¥60.49, and the equity ratio was 36.4%.
• For the fiscal year ending March 31, 2026 (April 1, 2025 – March 31, 2026), the company forecasts consolidated net sales of ¥52,000 million to ¥57,000 million (up 4.6% to 14.6% year-on-year), operating profit of ¥1,700 million to ¥2,100 million (up 30.9% to 61.7% year-on-year), ordinary profit of ¥1,500 million to ¥1,800 million (up 19.1% to 43.0% year-on-year), and net profit attributable to parent company shareholders of ¥2,500 million to ¥3,000 million (up 275.1% to 350.1% year-on-year).

UEX’s financial results for the fiscal year ended March 2025 show a decline in both revenue and profit compared to the previous year, which may be attributed to a soft stainless steel market and special losses related to the rebuilding of the UEX Tokyo Distribution Center. However, the significantly higher forecasts for consolidated performance in the next fiscal year could indicate an anticipated recovery or improved operational outlook, making it a point of interest for investors to monitor.

• SPDR® Gold Trust (SPDR® Gold Shares, ticker: 1326) released its interim financial results for the fiscal year ending September 2026 (October 1, 2025 – March 31, 2026).
• Net assets as of March 31, 2026, increased to JPY 24,256,231 million from JPY 19,474,449 million at September 30, 2025.
• Gold constituted 99.93% (JPY 24,238,629 million) of total assets, maintaining its position as the primary investment asset.
• The number of shares outstanding at the end of the interim period was 366,400 thousand units, up from 353,700 thousand units at the previous period-end.
• The net asset value per share was JPY 66,202, an increase compared to JPY 55,060 at September 30, 2025.

The interim results for SPDR® Gold Shares indicate that an increase in gold prices and the number of shares outstanding contributed to the rise in net assets and net asset value per share. Given that gold comprises the vast majority of the fund’s assets, the performance of the gold market likely has a direct impact on the fund’s operational status. Investors may find it valuable to continue monitoring the fund’s asset allocation and fluctuations in gold market prices.

• Gaiax reported consolidated net sales of ¥924 million for the first quarter of the fiscal year ending December 2026, marking a 5.4% increase year-on-year.
• Consolidated operating income reached ¥34 million (compared to ¥9 million in the prior year period), representing a 281.0% increase year-on-year.
• In the Social Media Services segment, net sales were ¥664 million (up 3.7% YoY) and operating income was ¥76 million (up 43.3% YoY).
• The Incubation segment recorded net sales of ¥260 million (up 9.3% YoY), but operating income decreased by 26.4% YoY to ¥40 million.
• Despite ongoing investments in areas like AWS usage (impacted by yen depreciation), personnel costs, and short drama production, the company secured profits due to increased sales and overall cost control.

Gaiax’s Q1 results show a notable increase in both net sales and operating income year-on-year, demonstrating profitability while continuing strategic upfront investments for strengthening its revenue base. The acceleration of integrated marketing within the Social Media Services segment, development of original IPs, and progress in municipal entrepreneurship support and web3/DAO consulting within the Incubation segment, could be key drivers for future business growth. It is also worth monitoring the impact of the appreciation in market value of investment securities on the company’s balance sheet.

• Daiichi Sankyo announced on May 13, 2024, a correction to a portion of its “FY2025 Financial Results Supplemental Materials.”
• The correction pertains to the current liabilities figure as of March 31, 2026, on page 11 of the FY2025 Financial Results Supplemental Materials.
• The company stated that an error in a part of the disclosed content was discovered after the initial announcement.
• The corrected version of the document has been published on Daiichi Sankyo’s official website.
• The previously announced financial results summary (kessan tanshin) remains uncorrected.

This correction addresses a specific numerical error within the supplemental financial materials, underscoring the company’s commitment to ensuring accuracy in its financial reporting. As the main financial results summary remains unchanged, investors may consider evaluating the extent to which this specific correction impacts their overall understanding of the company’s financial position. Reviewing the corrected supplemental materials would be prudent for detailed numerical verification.

• Inbound Tech Co., Ltd. resolved on May 13, 2026, to acquire FW Co., Ltd. as a subsidiary through simplified stock delivery.
• WebCrew Co., Ltd., a wholly-owned subsidiary of FW, will also become a subsidiary of Inbound Tech simultaneously as a result of this stock delivery.
• The consideration for this stock delivery will be solely Inbound Tech’s shares, not cash.
• Inbound Tech states the purpose of the acquisition is to expand into new business areas, strengthen its AI division through WebCrew’s system development capabilities, and create synergies such as launching a comprehensive quotation/document request site for foreign residents in Japan.
• FW’s consolidated financial results for the fiscal year ended March 2025 (April 1, 2024, to March 31, 2025) show sales of 4,493,884 thousand yen, ordinary profit of 200,209 thousand yen, and net profit attributable to parent company shareholders of 57,056 thousand yen.

• Zenshoh guarantees Co., Ltd. has announced a correction to a portion of its “FY2026/3 Financial Results Supplementary Material” initially published on May 8, 2026.
• The corrections are located on pages 8 and 9 of the “FY2026/3 Financial Results Supplementary Material”.
• On page 8, the “Loss Compensation Figures” for FY2025/3 were revised from “-” to “43.4 billion yen”, and for FY2026/3 from “-” to “94.5 billion yen”.
• Also on page 8, the “Total Acquisition Performance Figures” were corrected for FY2025/3 from “1,173.6 billion yen” to “1,217.0 billion yen”, and for FY2026/3 from “1,579.1 billion yen” to “1,673.6 billion yen”.
• On page 9, the “Acquisition from Existing Mortgage Loan Market Figures” were corrected from “+1.5 trillion yen” to “+1.6 trillion yen”, and “Decrease due to Repayments Figures” from “▲0.4 trillion yen” to “▲0.5 trillion yen”.

These corrections primarily update the figures related to guarantee debt balance acquisition from the existing mortgage loan market within the supplementary financial materials. The upward revisions in loss compensation and total acquisition performance suggest that the company’s activities in the existing mortgage loan market were more extensive than initially reported. Investors may find it worthwhile to reassess the potential implications of these revised figures on the company’s business scale and profitability.

• Tokyo Seimitsu reported consolidated net sales of ¥166.8 billion for FY2025 (ending March 2026), an 11% increase year-on-year, marking a new historical high. Order intake reached ¥163.1 billion, up 12% YoY.
• By segment, semiconductor manufacturing equipment sales were ¥127.9 billion (up 13% YoY) with operating profit of ¥28.4 billion (up 17% YoY). Metrology and measurement instruments sales were ¥39.0 billion (up 5% YoY) with operating profit of ¥5.3 billion (down 1% YoY).
• Company-wide operating profit was ¥33.7 billion (up 14% YoY) and ordinary profit was ¥34.8 billion (up 16% YoY). Net profit attributable to owners of parent was ¥24.7 billion, a 4% decrease YoY, but ¥3.2 billion above the February forecast.
• The annual dividend for FY2025 is projected at ¥262 per share, an increase of ¥9 from the previous year.
• For the fourth quarter of FY2025 (January-March 2026), consolidated net sales were ¥53.9 billion (up 14% YoY) and operating profit was ¥12.8 billion (up 20% YoY), setting a new quarterly sales record.

Tokyo Seimitsu’s FY2025 results highlight the strong performance of its semiconductor manufacturing equipment segment, driven by High-Performance Computing (HPC) demand, which propelled overall sales to a new peak. The robust fourth-quarter performance, characterized by strong shipments and improved profitability from high-value-added products, appears to have played a significant role. The ability to maintain near-flat net profit despite special losses, coupled with a projected dividend increase, may suggest management’s confidence in its business fundamentals and commitment to shareholder returns.

• G-Global Security Co., Ltd. achieved record-high results for the fiscal year ended March 2026, with net sales of ¥11,022 million (+25.2% YoY), operating profit of ¥2,238 million (+38.6% YoY), and an operating profit margin of 20.3%.
• Ordinary profit increased by 42.2% YoY, and net profit increased by 47.2% YoY.
• For the fiscal year ending March 2027, the company forecasts consolidated net sales of ¥13.7 billion, operating profit of ¥2.9 billion, and an operating profit margin of 21.3%.
• The annual dividend payout ratio for the fiscal year ended March 2026 was 35.0% (+4.0 percentage points YoY), with the year-end dividend increased to ¥18.24 due to higher-than-expected operating profit.
• The company identifies the rise of AI as a “strong tailwind” for its business, articulating strategies centered on AI-driven efficiency and price competitiveness, creation of new AI services, and developing the AI implementation market in security.

The company’s FY2026/3 results demonstrate consistent top-line growth exceeding profit expansion, with record sales and operating profit. The clear articulation of AI as a growth driver, rather than a threat, to address increasing security needs in the AI era is a key aspect for future business developments. The announcement of an increased dividend also suggests a commitment to shareholder returns aligned with profit growth, which investors may find noteworthy.