Japan Stock IR Daily – May 25, 2026 (40 reports)

• For the fiscal year ended March 2026, sales were 0 million JPY, operating loss was △1,295 million JPY, ordinary loss was △1,293 million JPY, and net loss was △1,304 million JPY.
• Selling, general and administrative expenses increased from 1,162 million JPY to 1,295 million JPY compared to the fiscal year ended March 2025, with R&D expenses increasing from 888 million JPY to 1,002 million JPY.
• Cash and cash equivalents at the end of March 2026 amounted to 2,156 million JPY, an increase of 1,346 million JPY year-on-year, primarily due to 2,713 million JPY in cash flow from financing activities (funding through warrant scheme).
• For the fiscal year ending March 2027, the company forecasts an operating loss of △1,965 million JPY and a net loss of △1,949 million JPY, with R&D expenses projected at 1,680 million JPY.
• Regarding the development pipeline, a US clinical trial for BCMA CAR-iPSNKT (BP2202) is scheduled to commence within FY2026, and Phase I clinical trials for HER2 CAR-T (BP2301) are ongoing.

The company’s financial results reflect a typical investment-first model for a research-driven biotech venture, with continued operating and net losses. However, the increase in cash balances at fiscal year-end, primarily due to funding from warrant exercises, suggests that R&D funds are secured for the foreseeable future. The FY2027 outlook continues to allocate substantial R&D expenses, indicating that the progress of its development pipeline, particularly the commencement of the BP2202 US clinical trial, could be a critical milestone for future business developments.

• TOHTECH announced record-high results for the fiscal year ended March 2026, with net sales of ¥170 billion (+9.0% YoY), operating profit of ¥17.1 billion (+16.6% YoY), and net profit attributable to owners of parent of ¥13.1 billion (+17.3% YoY).
• The operating profit margin improved by 0.7 percentage points to 10.1%.
• By segment, the Construction segment’s sales increased by 16.8% YoY to ¥76.1 billion, contributing significantly to overall sales growth. The Product Sales segment recorded ¥93.7 billion (+3.4% YoY).
• By business, the Instrumentation business grew by 15.2% YoY, and the Energy business grew by 32.7% YoY. The Air Conditioning business increased by 3.6% YoY.
• Order intake reached ¥185 billion (+16.2% YoY), and order backlog stood at ¥122.8 billion (+18.2% YoY), both demonstrating continued strength.

TOHTECH’s FY2026/3 results demonstrate robust performance, with record sales and profits driven by strong demand in urban redevelopment, private investments (data centers, factories, hotels), and government projects. The significant growth in the higher-margin Construction segment, coupled with improved profitability from optimized order taking, suggests a solid operational foundation. The sustained high levels of order intake and backlog could indicate continued positive momentum for the company.

• iFreeETF US 10-Year Treasury Inverse (code: 140A) announced its financial results for the period ended April 2026 (October 11, 2025 – April 10, 2026) on May 25, 2026.
• Total net assets at the end of the current period (April 10, 2026) were ¥345 million (100.0% of total assets), a decrease from ¥381 million at the end of the previous period (October 10, 2025).
• The primary investment assets amounted to ¥228 million (66.1% of total assets), while cash, deposits, and other assets (net of liabilities) totaled ¥117 million (33.9% of total assets).
• The number of outstanding units at the end of the current period was 175 thousand units, down from 195 thousand units in the previous period.
• The net asset value per unit was ¥1,970.41, an increase from ¥1,954.81 at the end of the previous period.
• No distributions were paid for the current period, with the distribution per unit recorded as ¥0.

The financial results for iFreeETF US 10-Year Treasury Inverse (140A) for the period ended April 2026 show a decrease in total net assets and outstanding units, while the net asset value per unit has increased. This could suggest a shift in the fund’s market valuation or investment efficiency. The changes in the composition of primary investment assets may also be a point of interest for investors assessing the fund’s performance.

• During the Q1 FY2026 earnings briefing, G-eWELL stated its confidence in achieving the target of 200 AI visit/route contracts by July, citing approximately 500 existing practical uses as the basis.
• The company clarified that while iBow Board and AI Visit Schedule/Route can be contracted individually, the strategy is to emphasize the highest value derived from combined use.
• iBow Board, released in February, has received high customer evaluations for features like “no additional data import” and “real-time performance confirmation.”
• G-eWELL cited its competitive advantages as accumulating approximately 100 million pieces of real data over 12 years and offering an integrated service system including electronic medical records, receipt systems, iBow Board, AI Visit Schedule/Route, and other solutions.
• The company’s top priority for capital allocation is growth investment, focusing on AI development, data infrastructure, talent acquisition, and BPaaS operation expansion, while also continuously considering share repurchases as a flexible means of shareholder return.

The Q&A summary from G-eWELL provides insights into the progress of its core products, iBow Board and AI Visit Schedule/Route, and management’s perspective on market competition. The explicit targets for AI-related services, along with the rationale for their achievement and positive customer feedback, may be key points for investors to monitor regarding future business developments. The company’s emphasis on growth investment as its top capital allocation priority, coupled with the consideration of flexible share repurchases, could indicate a balanced approach to long-term value creation and shareholder returns.

• SANEI’s net sales for the fiscal year ending March 2026 amounted to ¥29,042 million, representing a 2.0% increase year-on-year, but fell short of the ¥30,000 million budget by ¥958 million.
• Operating profit was ¥1,830 million (down 2.8% YoY), and profit attributable to owners of parent was ¥1,220 million (down 2.7% YoY).
• The primary reason for the decrease in profit was attributed to rising raw material prices, particularly for copper and energy.
• Total assets on the balance sheet were ¥24,111 million (down 1.1% from the previous fiscal year), with a decrease in current assets mainly due to reduced cash and deposits, and accounts receivable.
• Operating cash flow significantly decreased year-on-year, primarily due to a ¥2,196 million reduction in accounts payable, resulting from a change in payment methods.
• SANEI entered into a capital and business alliance by acquiring 5% of the outstanding shares of Aquaum Co., Ltd., which develops and manufactures air-to-water generators.
• For the fiscal year ending March 2027, the company forecasts consolidated net sales of ¥30,800 million (an increase of ¥1,800 million from the current period) and operating profit of ¥2,000 million (an increase of ¥170 million from the current period).

SANEI’s FY2026 results indicate a rise in sales but a miss on budget, attributed to external factors like increased construction material costs, rising interest rates, and a decline in new housing starts. The reported decrease in profits, mainly due to higher raw material prices, suggests potential pressure on margins. Efforts to implement price revisions, strengthen sales of high-value-added products, and collaborate within the supply chain may be key to improving profitability. The capital and business alliance with Aquaum Co., Ltd., along with active participation in exhibitions, could signal a strategic focus on creating new business opportunities and enhancing brand presence.

• TOYO-TEC Corporation announced on May 25, 2026, the release of its recorded earnings presentation video for the fiscal year ended March 2026.
• This video serves as a supplementary explanation to the financial results for the fiscal year ended March 2026, which were originally disclosed on May 13, 2026.
• Consolidated financial results for FY2026/3 show revenue of ¥43,071 million (up 23.3% year-on-year), operating profit of ¥2,912 million (up 177.6% year-on-year), ordinary profit of ¥2,996 million (up 181.8% year-on-year), and net profit attributable to owners of parent of ¥1,968 million (up 184.1% year-on-year).
• The company achieved record-high performance across the consolidated group, with Expo-related business contributing ¥8,378 million in revenue and ¥1,242 million in operating profit.
• By segment, the Security Business reported revenue of ¥32,291 million (up 36.7% year-on-year) and segment profit of ¥2,081 million (up ¥1,657 million year-on-year), marking significant increases in both revenue and profit.

TOYO-TEC’s consolidated results for the fiscal year ended March 2026 highlight a significant boost from Osaka-Kansai Expo-related projects, leading to record-high revenue and profits. The reported improvements in profitability within existing businesses, attributed to ongoing pricing revisions and profitability improvement initiatives, could be a positive sign for the company’s long-term operational resilience. Achieving results exceeding plans despite accounting for one-off expenses and conservative bad debt provisions may be viewed favorably by investors.

• Cominix Co., Ltd. has released its earnings presentation for the fiscal year ended March 2026.
• Consolidated net sales for FY2026 March reached ¥41.1 billion, representing a 36.5% increase year-on-year.
• Consolidated operating income for the same period was ¥0.98 billion, a 76.8% increase compared to the previous fiscal year.
• Net income for the period stood at ¥0.70 billion, marking a significant increase of 1,805.1% year-on-year.
• Return on Equity (ROE) improved by 8.0 percentage points to 8.5% for the fiscal year.
• The record-high performance is attributed to the full-year consolidation of the Kamogawa Group and improved profitability in existing businesses.

Cominix’s financial results for the fiscal year ended March 2026 are notable, with consolidated net sales, operating income, and net income reaching record highs, alongside a substantial improvement in ROE. The full-year contribution from the Kamogawa Group and strong performance in existing businesses appear to be key drivers, potentially indicating successful diversification and improvements in its revenue structure.

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

• The FY2026 March topics included the decision to close the Hamasaki factory (scheduled for March 2027), the absorption merger of Fujicco NEW Delica Co., Ltd. (October), the divestiture of Food Palette Co., Ltd. (August), and the acquisition of FB Food Service Co. (Thai prepared food company) (September).
• The new product, “Caspi Kaimoyo Richmo Plain 900g,” rapidly grew to become the third best-selling product in the Caspi Kaimoyo yogurt series after its launch.
• The “Fujicco Ni” series showed strong performance exceeding the previous year, particularly after the TV commercial broadcast from September to October.
• The company identified “decrease in sales volume (i.e., customer reduction)” as a key reflection point for the first year of its 2025-2027 Mid-Term Management Plan (FY2026 March), noting that the increase in product value has not kept pace with price increases.
• The mid-term management plan’s basic policy re-emphasizes “customer-first principles,” aiming to accelerate yogurt business growth as the third pillar, and to expand overseas business by accelerating development in Southeast Asia with Thailand as a hub, increasing exports, and developing Long Life (LL) products.

• Yamaichi announced on May 25, 2026, a correction to its “Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (Japanese GAAP),” originally released on May 13, 2026.
• The reason for the correction was the discovery of an omission in the aggregation process of condominium costs, specifically, certain data related to condominium costs were not reflected in the accounting system.
• As a result of the correction, the consolidated operating profit for FY2026/3 was revised from ¥2,052 million to ¥1,929 million, ordinary profit from ¥1,302 million to ¥1,179 million, and profit attributable to owners of parent from ¥640 million to ¥564 million.
• Earnings per share (EPS) were revised from ¥74.22 to ¥65.39, total assets from ¥62,551 million to ¥62,427 million, and net assets from ¥14,191 million to ¥14,115 million.
• The company stated that the impact of this correction on the consolidated earnings forecast for FY2027/3 is minor.

Yamaichi’s correction to its financial results stems from an accounting error related to the omission of condominium costs, leading to several downward revisions in consolidated income statement items. The extent of the downward revisions, particularly for operating profit and profit attributable to owners of parent, may draw investor attention. However, the company has indicated that the impact on the next fiscal year’s earnings forecast is minor, suggesting that future financial reporting accuracy and subsequent performance will be key areas to monitor.

• TDC Soft reported consolidated results for the fiscal year ended March 2026 with net sales of ¥48,359 million (up 8.9% YoY), operating income of ¥5,159 million (up 8.1% YoY), ordinary income of ¥5,359 million (up 9.9% YoY), and net income attributable to owners of parent of ¥3,880 million (up 13.0% YoY).
• EPS reached ¥82.11 (up 12.7% YoY), and the annual dividend per share was ¥33.00 (up 22.2% YoY).
• By business segment, “Financial IT Solutions” recorded ¥20.5 billion (up 6.3% YoY), “Public & Corporate IT Solutions” ¥12.8 billion (up 7.0% YoY), “IT Consulting & Services” ¥8.8 billion (up 13.8% YoY), and “Platform Solutions” ¥6.1 billion (up 15.3% YoY), with all segments achieving increased revenue.
• For the fiscal year ending March 2027 (consolidated), the company forecasts net sales of ¥53,000 million (up 9.6% YoY), operating income of ¥5,600 million (up 8.5% YoY), and an annual dividend of ¥34.00 per share.

TDC Soft’s FY2026 results demonstrate robust revenue growth across all business segments, contributing to increased profits despite higher expenses from M&A. The growth in high-value-added businesses, consulting services, and product sales likely played a role in enhancing profitability. The positive outlook for FY2027, projecting further revenue and profit increases, suggests a continued focus on strategic upfront investments to drive sustainable growth.

• Nissei ASB Machine Co., Ltd. reported record-high orders, net sales, and operating profit for the first half of the fiscal year ending September 2026.
• Orders received totaled 28.6 billion JPY (up 25.1% YoY), net sales reached 24.0 billion JPY (up 9.8% YoY), and operating profit was 6.5 billion JPY (up 18.8% YoY).
• Growth was primarily driven by strong performance in the Americas, Europe, and India, with both machines and molds showing robust demand.
• Factors contributing to the increase in operating profit included sales growth (excluding FX impact) and an improved product/regional mix.
• Average exchange rates for the period were USD 155.51 (2.0% weaker yen YoY) and EUR 181.52 (12.4% weaker yen YoY).

Nissei ASB Machine’s Q2 FY2026 results demonstrate significant operational strength, with key financial metrics reaching new highs for the first half. The robust performance in the Americas, Europe, and India suggests effective market penetration and demand for its products in these regions. While sales growth and a favorable product mix were key drivers of increased operating profit, a one-time increase in exhibition costs was also noted, which could indicate a temporary factor impacting profitability.

• ESPEC Corporation announced its full-year results for FY2025 (ending March 2026), with orders reaching 72,596 million JPY (+7.5% YoY) and net sales reaching 70,034 million JPY (+4.1% YoY), both marking record highs.
• Operating profit decreased to 7,084 million JPY (-5.9% YoY), and profit attributable to owners of parent declined to 5,879 million JPY (-2.1% YoY).
• The company cited deteriorating profitability in the Chinese market and contract testing services, along with increased selling, general and administrative (SG&A) expenses, as factors contributing to the decline in operating profit.
• Orders in target markets (AI semiconductors, satellite communication) increased by approximately 50%, and sales increased by approximately 30%.
• For FY2026 (ending March 2027), the company aims for record-high sales and operating profit, targeting both revenue and profit growth.

The FY2025 results show ESPEC achieving record sales and orders, driven by robust demand in AI semiconductors and satellite communication sectors. However, the decline in profitability due to challenges in the Chinese market and rising SG&A expenses is a key point for investors to consider. The company’s forecast for revenue and profit growth in FY2026, coupled with revisions to its mid-term management plan, may indicate a strategic focus on improving business structure and profitability moving forward.

• Charm Care Corporation revised its full-year consolidated and non-consolidated earnings forecasts for the fiscal year ending June 2026.
• Consolidated net sales were revised upwards from ¥48,585 million to ¥48,770 million, and profit attributable to owners of parent from ¥3,090 million to ¥3,570 million, representing a 15.5% increase.
• The year-end dividend forecast was also revised from ¥17.00 per share to ¥23.00 per share, resulting in an expected annual dividend of ¥43 (an increase of ¥6) from the previous ¥37.
• The primary reasons for the revision include the steady performance of the nursing care business and the finalization of the contract and sale timing for a real estate transaction within other businesses, allowing for a reasonable estimation of its impact on full-year results.
• The revised dividend payout ratio is expected to be 39.4%, exceeding the company’s target of 30% or more.

This upward revision in earnings and dividend forecasts appears to be driven by the consistent performance of the company’s core nursing care business, supplemented by the concretization of a real estate sale, which contributes to one-time revenue. The announced dividend increase, aligning with higher profit levels, could be interpreted as a strong commitment to shareholder returns. Given the significant impact of real estate gains on earnings, future developments regarding business diversification and the establishment of stable revenue streams may be worth monitoring.

• Aica Kogyo Co., Ltd. achieved record-high consolidated results for the fiscal year ended March 2026, with sales of ¥251,764 million, operating profit of ¥29,143 million, ordinary profit of ¥30,136 million, and net income attributable to owners of parent of ¥18,533 million.
• Both operating profit and ordinary profit recorded increases for the fifth consecutive period.
• Ordinary profit reached the mid-term management plan target one year ahead of schedule.
• The company plans a dividend of ¥138 per share for FY2026/3, an increase of ¥12 from the previous fiscal year.
• By segment, the Chemicals segment reported sales of ¥136,262 million (down 1.7% YoY) and operating profit of ¥9,330 million (down 0.0% YoY), while the Building Materials segment recorded sales of ¥115,502 million (up 4.9% YoY) and operating profit of ¥24,803 million (up 10.1% YoY).

The achievement of record-high profits and the early attainment of mid-term plan targets may suggest effective management strategies and robust operational execution. The growth of high-value-added products within the Building Materials segment is notable, particularly amidst challenging domestic market conditions. The reported decrease in sales and profit in some overseas operations could indicate areas for investors to monitor in future disclosures.

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

• G-toridori Inc. has released its Q1 FY2026 earnings presentation video and transcript.
• For Q1, gross profit was JPY 1.43 billion, marking a 39.6% year-over-year increase, and operating profit was JPY 0.19 billion, a 105.2% year-over-year increase.
• The 12-month plan for toridori marketing, a core business, was a key driver of performance growth.
• The AI-driven influencer advertising product “Vooster” officially launched in February 2026, and the first private brand “yoin” began sales.
• The Q1 progress rate against the full-year earnings forecast stands at 21.4%.

G-toridori’s Q1 results suggest continued strong growth in existing businesses alongside progress in launching new ventures. The significant increases in gross and operating profit could indicate that the strengthening of core business revenue streams is being complemented by initial contributions from previously invested new products. Investors may find it worth monitoring how “Vooster” and the private brands will contribute to achieving the full-year earnings forecast in subsequent quarters.

• IHI Corporation announced a correction to a part of its “Consolidated Financial Results for the Fiscal Year Ending March 31, 2026 (IFRS),” originally disclosed on May 8, 2026.
• The corrections are located in the attached document “3. Financial Statements and Principal Notes (5) Notes to Consolidated Financial Statements (Segment Information) (2) Information on Reporting Segments” (P.16 and P.17).
• For the previous consolidated fiscal year (April 1, 2024 – March 31, 2025), “Depreciation and Amortization” for the “Social Infrastructure” segment was corrected from 9,903 million yen to 3,615 million yen. Consequently, the “Total” for this item was revised from 61,250 million yen to 54,962 million yen.
• For the current consolidated fiscal year (April 1, 2025 – March 31, 2026), “Depreciation and Amortization” for the “Others” segment was corrected from 1,733 million yen to 8,893 million yen, and the “Total” from 59,309 million yen to 66,469 million yen.
• “Impairment Losses” for the “Resources, Energy & Environment” segment in the current consolidated fiscal year was corrected from 1,381 million yen to 2,970 million yen, leading to a change in the “Total” from 8,836 million yen to 10,481 million yen.
• The corrected financial statements are available on the company’s official website.

This correction primarily concerns numerical data within the segment information of IHI’s consolidated financial results, specifically impacting depreciation and amortization as well as impairment losses. Investors should note these revisions when analyzing the profitability and asset conditions of individual segments. While the direct impact on overall consolidated performance might not be substantial, understanding these corrected figures could provide a more accurate view of each segment’s cost structure and asset valuation.

• G-Bridge Group resolved at its Board of Directors meeting on May 25, 2026, to acquire all shares of EraX Co., Ltd., making it a wholly-owned subsidiary.
• EraX specializes in advanced AI areas such as generative AI, automation, and RAG, providing end-to-end support for AI implementation from planning to development and operational improvement.
• The acquisition aims to enhance the sophistication of AI utilization and strengthen competitive advantages in G-Bridge Group’s inside sales outsourcing, process and technology, and training businesses.
• The number of shares acquired is 10,000, resulting in a 100% voting rights ownership after the transaction.
• The acquisition price is ¥650 million for EraX common stock, plus an estimated ¥35 million for advisory fees, totaling approximately ¥685 million.
• The scheduled share transfer date is June 23, 2026.
• The impact on the consolidated earnings forecast for the fiscal year ending December 2026 will be disclosed by the release date of the second-quarter financial results.

G-Bridge Group has positioned M&A as a key growth strategy to achieve its mid-term management plan goal of “supporting revenue growth transformation utilizing AI technology,” making the acquisition of EraX a notable step. Integrating EraX’s advanced AI technology and agile development capabilities could accelerate the strengthening of G-Bridge Group’s existing businesses and foster new value creation. EraX’s track record of high customer retention and over 30 clients may suggest its potential for growth in the AI market.

• O-WELL Co., Ltd. announced on May 25, 2026, a partial correction to its “Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 [Japanese GAAP]”.
• The reason for the correction is that certain matters requiring revision were identified after the earnings report was released on May 14, 2026.
• The correction specifically pertains to the consolidated business forecast for the fiscal year ending March 31, 2027, under “(4) Future Outlook” on page 3 of the attached document.
• Prior to the correction, the ordinary profit for the FY2027 consolidated business forecast was stated as a “14.3% decrease compared to the current period”.
• Post-correction, the ordinary profit for the FY2027 consolidated business forecast has been revised to a “13.7% decrease compared to the current period”.
• No changes were made to the forecasts for net sales (¥71,000 million, 4.0% increase YoY), operating profit (¥1,250 million, 0.9% decrease YoY), or profit attributable to owners of parent (¥1,600 million, 11.0% decrease YoY).

This correction primarily impacts only the year-on-year percentage change for ordinary profit in the FY2027 consolidated earnings forecast. As the actual monetary value of the earnings forecast remains unchanged, investors may focus on the company’s commitment to ensuring the accuracy of its disclosed figures. Such revisions to IR information can be viewed as part of a company’s efforts to maintain data integrity.

• The transcript of the Q3 FY2026 earnings call and Q&A, held on May 14, 2026, was released on May 25, 2026.
• The Mogecheck business turned profitable in Q3 (operating income of JPY 119 million) due to the normalization of revenue recognition timing, and its cumulative full-year results also recovered to profitability.
• The INVASE business achieved profitability for two consecutive quarters, but revenue growth was hampered in Q3 due to changes in loan screening criteria by some banks.
• The full-year earnings forecast was revised to a decrease in net sales due to strategic suppression and an increase in operating income. Mogecheck’s operating income forecast was revised upwards from JPY 58 million to JPY 113 million.
• Selling, general, and administrative expenses (advertising expenses) were reduced by 34.4% year-on-year, and CPA significantly decreased due to SEO marketing initiatives, improving the contribution margin.

G-MFS announced that both its core Mogecheck and INVASE businesses achieved profitability, leading to a recovery in cumulative full-year profit. The strategic reduction in advertising expenses and enhanced SEO, which improved CPA in the Mogecheck business, suggests an improved and more efficient profit structure. Although the INVASE business experienced a temporary slowdown in revenue growth due to external factors, its recovery trajectory will be worth monitoring.

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

• Hyper Co., Ltd. announced the finalization of the financial results for the fiscal year ended February 2026 for its unlisted parent company (other affiliated company), LARA CORPORATION Co., Ltd.
• LARA CORPORATION Co., Ltd.’s primary business is asset management, with a capital of 3 million yen.
• As of February 28, 2026, LARA CORPORATION Co., Ltd. holds 255,386,893 yen in affiliate stocks, according to its balance sheet.
• The company reported a net profit of 2,618,178 yen for the fiscal year ended February 2026 in its income statement.
• All 300 shares of LARA CORPORATION Co., Ltd. are 100.0% owned by Ms. Midori Sekine, who also serves as a director.

The financial results of an unlisted parent company can provide valuable insights into the overall governance and financial flows within the corporate group, particularly for a listed subsidiary like Hyper. Given the parent company’s significant holdings in affiliate stocks and its primary business being asset management, the relationship between these assets and the group’s broader investment strategy may be a point of interest. While a net profit was reported, the specifics of its composition and the direct implications for Hyper warrant further observation in future disclosures.

• NITTOBO announced a stock split at a ratio of 1 common share into 5 shares, with a record date of June 30, 2026.
• The effective date for the stock split is July 1, 2026. The total number of outstanding shares will increase from 37,723,012 to 188,615,060 post-split.
• Concurrently, the company will amend Article 6 of its Articles of Incorporation to change the total number of authorized shares from 120 million to 600 million, effective July 1, 2026.
• The dividend forecast for the fiscal year ending March 2027 has been revised. The post-split annual dividend forecast is JPY 28.00 per share (equivalent to JPY 140.00 before the split).
• The stock split will not result in any change to the amount of stated capital.

This stock split aims to reduce the investment unit price, potentially making NITTOBO shares more accessible to a wider range of investors and fostering an expansion of the investor base. The revision of the dividend forecast appears to be a technical adjustment due to the split, rather than a substantive change in dividend policy. This move could be viewed as a strategy to enhance market liquidity and appeal.

• CE Holdings Co., Ltd. resolved at its Board of Directors meeting on May 25, 2026, to merge its consolidated subsidiaries, SANKAKU COMPANY Co., Ltd. and Mocosuku Co., Ltd.
• The merger will be an absorption-type merger, with SANKAKU COMPANY Co., Ltd. as the surviving company and Mocosuku Co., Ltd. as the absorbed company.
• The effective date of the merger is scheduled for August 1, 2026, with the Extraordinary General Meeting of Shareholders for merger approval planned for July 31, 2026.
• The merger aims to enhance productivity and added value in digital marketing by integrating similar WEB-related businesses, and to improve efficiency by streamlining overlapping resources.
• Both companies are wholly-owned subsidiaries of CE Holdings, and no shares or monetary compensation will be exchanged as consideration for this merger.

This merger between consolidated subsidiaries suggests CEHD’s strategic focus on internal business restructuring and operational efficiency. The integration of similar businesses, particularly in the digital marketing sector, could indicate an effort to leverage synergies and strengthen the group’s capabilities in this area. While the company stated no impact on consolidated earnings, the move may contribute to long-term group-wide competitiveness and streamline resource allocation.

• Takasago International reported consolidated results for the fiscal year ended March 2026 with net sales of ¥225.1 billion (down 1.8% year-on-year), operating profit of ¥8.1 billion (down 47.0% year-on-year), ordinary profit of ¥9.5 billion (down 37.9% year-on-year), and net profit attributable to owners of parent of ¥9.5 billion (down 28.5% year-on-year).
• The decline in net sales was primarily attributed to decreased shipments of flavors, fragrances, and fine chemicals at its U.S. subsidiary, and reduced fragrance shipments at its French subsidiary.
• The decrease in operating profit was impacted by lower sales, increased procurement costs due to exchange rate fluctuations, higher raw material prices, and reduced exports of pharmaceutical intermediates from Japan to the U.S. subsidiary.
• For the fiscal year ending March 2027, the company forecasts net sales of ¥240.0 billion (up 6.6% year-on-year), operating profit of ¥11.0 billion (up 35.3% year-on-year), ordinary profit of ¥11.5 billion (up 20.9% year-on-year), and net profit attributable to owners of parent of ¥9.4 billion (down 1.3% year-on-year).
• The dividend forecast for FY2027/3 is ¥26 per share for both interim and year-end, totaling ¥52 per share annually (post 5-for-1 stock split basis), targeting a DOE of 3.3% and a payout ratio of 53.9%.

The fiscal year 2026/3 results suggest challenges from declining shipments in overseas subsidiaries and rising raw material costs. However, the FY2027/3 forecasts indicate an expected recovery, driven by increased sales in emerging markets for flavors and higher pharmaceutical intermediate shipments from the U.S. subsidiary. The fluctuation in net profit forecast appears to be influenced by changes in gains from the sale of investment securities due to the reduction of policy-held shares.

• NIPPATSU announced on May 25, 2026, a partial correction to its “Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (Japanese GAAP).”
• The reason for the correction was the discovery of an error in the accounting treatment for retirement benefits after the initial release of the financial results.
• The correction resulted in revisions to the consolidated balance sheet, including “Assets for retirement benefits” increasing from 17,668 million yen to 27,598 million yen, “Deferred tax liabilities” from 18,104 million yen to 21,131 million yen, and “Total net assets” from 445,942 million yen to 453,035 million yen.
• In the consolidated statement of comprehensive income, “Adjustments related to retirement benefits” were corrected from △4,576 million yen to 2,516 million yen, and “Comprehensive income” from 40,620 million yen to 47,713 million yen.
• This correction has no impact on the current fiscal year’s consolidated income statement or the consolidated earnings forecast for the next fiscal year (ending March 2027).

Nippatsu’s latest correction, confined to specific items within retirement benefit accounting, with no impact on the consolidated income statement or next year’s earnings forecast, may be a key point for investors. The upward revision of total net assets could influence perceptions of the company’s financial health. Investors might consider how these adjustments factor into the broader financial assessment of the company.

• Rakumachi Co., Ltd. announced “Notice of Correction to Past Financial Results and Other Disclosures” on May 25, 2026.
• The reason for the correction is the discovery of errors in the aggregation process for page view (PV) counts of its real estate investment portal site “Rakumachi.”
• This error led to the overstatement of PV counts in previously disclosed financial reports for past fiscal periods.
• The corrections apply to six disclosure documents: the Financial Results for the Fiscal Year Ended July 2025 and its explanatory materials, the Financial Results for the First Quarter of the Fiscal Year Ending July 2026 and its explanatory materials, and the Financial Results for the Second Quarter of the Fiscal Year Ending July 2026 and its explanatory materials.
• There are no changes to financial performance figures such as operating revenue, operating income, ordinary income, and net income, other than the PV counts.

This correction impacts a key performance indicator (KPI) for web-based businesses, as the accuracy of PV counts is a crucial metric for web service companies. While the corrected PV figures show a decrease, the company has stated that there is no impact on financial figures such as sales and profits. Investors may focus on the scope of the correction, its implications, and future enhancements to the aggregation system.

• Shibaura Machine announced its consolidated financial results for the fiscal year ended March 2026, reporting net sales of ¥132,815 million, a decrease of 21.0% compared to the previous fiscal year.
• Operating profit was ¥4,367 million (down 69.0% year-on-year), and ordinary profit was ¥5,002 million (down 64.5% year-on-year).
• Profit attributable to owners of parent amounted to ¥1,028 million, a significant decrease of 91.8% from the prior fiscal year.
• The annual dividend per share for FY2026 remained at ¥140.00 (interim ¥70.00, year-end ¥70.00), consistent with FY2025, and the same dividend is forecasted for FY2027.
• For the fiscal year ending March 2027, the company forecasts consolidated net sales of ¥137,000 million (up 3.2% year-on-year), operating profit of ¥4,200 million (down 3.8% year-on-year), and profit attributable to owners of parent of ¥2,000 million (up 94.4% year-on-year).

Shibaura Machine’s FY2026 results show a substantial decline across all profit metrics, which appears to be influenced by reduced sales of separator film manufacturing equipment for lithium-ion batteries in China. However, the company’s forecast for FY2027 projects an increase in revenue and a significant recovery in net profit, which could indicate management’s expectation of improving market conditions or the impact of ongoing strategic initiatives. Investors may monitor how the company executes its “Mid-term 2026” plan and its “FY2026 emergency response” measures.

• G-CONVANO announced on May 25, 2026, that its Board of Directors resolved to propose a change in the fiscal year end and amendments to its Articles of Incorporation at the 13th Ordinary General Meeting of Shareholders scheduled for June 27, 2026.
• The current fiscal year runs from April 1 to March 31 of the following year, which will change to January 1 to December 31 of the same year.
• The 14th fiscal period, a transitional period due to the change, is expected to be a nine-month period from April 1, 2026, to December 31, 2026.
• The timing of the Ordinary General Meeting of Shareholders will be moved from June to March annually, and dividend payments will be accelerated from late July to mid-to-late April.
• The purpose of this change is to enhance the efficiency of group-wide management in response to the business expansion of consolidated subsidiaries and the sophistication of the group management structure.
• The company also plans to strengthen shareholder returns by distributing a dividend of 508,635,900 JPY (contingent on capital/capital reserve reduction approvals) and considering agile share repurchases and cancellations during the new medium-term management plan period.

G-CONVANO’s fiscal year change appears to be a strategic move aimed at streamlining group management and solidifying the foundation for stable shareholder returns, indicating a commitment to enhanced corporate governance and capital efficiency. The acceleration of the General Meeting of Shareholders and dividend payment dates suggests an emphasis on returning profits to shareholders. The company’s intention to improve EPS through share repurchases and cancellations, aligned with the Tokyo Stock Exchange’s request for capital cost and stock price-conscious management, could be a key point for investors to monitor.

• TBK Co., Ltd. announced on May 25, 2026, corrections to parts of its Consolidated Financial Results for the fiscal year ended March 2026.
• The reason for the correction was the discovery of errors in the accounting treatment related to the liquidation procedures of an overseas consolidated subsidiary.
• The corrections impact summary information, the consolidated statement of income, consolidated statement of changes in equity, consolidated statement of cash flows, and other related information.
• Key corrected items include “Foreign exchange gains” and “Business reorganization loss” in the consolidated statement of income, and “Profit attributable to owners of parent” and “Changes in scope of consolidation” in the consolidated statement of changes in equity.
• The full corrected document has been provided, with revisions underlined for clarity.

These corrections stem from accounting errors related to an overseas subsidiary’s liquidation, impacting several key consolidated financial statements. Investors may want to assess how the revised figures alter the perception of the company’s financial health and performance. The correction of “Profit attributable to owners of parent” could particularly draw attention, given its direct relation to earnings per share.

• Hakuto Corporation announced on May 25, 2026, a partial correction to its “Consolidated Financial Results for the Fiscal Year Ending March 2026 (Japanese GAAP)” originally disclosed on May 12, 2026.
• The reason for the correction was the discovery of errors in certain descriptions during the review process for finalizing the financial results.
• This correction has no impact on net sales, operating profit, ordinary profit, or net profit attributable to owners of the parent company.
• The corrections primarily affect the summary information, with other numerous corrections indicated by underlining in the full corrected document.
• Specific corrections include changes to the contact telephone number, scheduled date for the ordinary general meeting of shareholders, planned dividend payment commencement date, scheduled submission date for the annual securities report, consolidated operating results, consolidated financial position, consolidated cash flows, dividend status, consolidated earnings forecast for the fiscal year ending March 2027, significant changes in the scope of consolidation during the period, and outstanding shares (common stock).

This correction addresses clerical errors in the previously released financial report, and it is explicitly stated that there is no impact on core financial performance metrics such as net sales and various profit figures. This suggests that the fundamental financial health and operational performance of the company remain as initially reported. Investors should carefully review the detailed amendments, particularly any changes related to the scope of consolidation or dividend information, to understand the full implications of the revised disclosure.

• Seika Sangyo Co., Ltd. has released its consolidated financial results briefing material for the fiscal year ended March 2026.
• For the fiscal year ended March 2026, consolidated turnover reached ¥295.72 billion (+1.8% YoY), and consolidated net sales were ¥108.48 billion (+15.7% YoY).
• Consolidated operating profit was ¥8.03 billion (+23.8% YoY), and consolidated ordinary profit was ¥9.03 billion (+8.9% YoY).
• Profit attributable to owners of parent was ¥7.50 billion (-3.7% YoY), influenced by a ¥0.65 billion decrease in gain on sale of policy-held shares compared to the previous fiscal year.
• The year-end dividend forecast has been revised upwards from the ¥73.66 announced on November 7, 2025, to ¥81.66.
• The Energy and Product segments contributed to increased revenue and profit due to strong performance by their consolidated subsidiaries.
• Consolidated order backlog increased to ¥76.84 billion (+15.1% YoY) at the end of the fiscal year, partly due to the acquisition of Asahi Sanac Co., Ltd. as a subsidiary on December 1, 2025, reflecting its order backlog in Q4.

The consolidated financial results for the fiscal year ended March 2026 indicate a robust performance, with increases in turnover, net sales, operating profit, and ordinary profit. The strong performance of the Energy and Product segments appears to be a key driver for the overall positive results. While profit attributable to owners of parent saw a decrease due to a one-off factor related to the sale of policy-held shares, the underlying business activities seem to be healthy. The upward revision of the year-end dividend forecast may suggest a positive outlook from the company regarding shareholder returns.

• SEC reported for the fiscal year ended March 2026: net sales of ¥11,220 million (up 9.0% YoY), operating profit of ¥1,879 million (up 4.8% YoY), ordinary profit of ¥2,062 million (up 8.9% YoY), and net profit attributable to owners of parent of ¥1,509 million (up 12.3% YoY).
• All figures for net sales, operating profit, and ordinary profit marked new record highs, achieving nine consecutive years of increased revenue and profit compared to the previous fiscal year.
• Orders received amounted to ¥14,023 million (up 30.0% YoY), and order backlog reached ¥9,065 million (up 44.8% YoY), both setting new record highs. Orders received increased for the eleventh consecutive year.
• By business field, development increased in the Social Infrastructure Systems BF and Internet BF, while the Mobile Network BF continued to see a decline, and the Aerospace Advanced Systems BF decreased in its overall composition ratio.
• Cost of sales saw a significant increase in outsourcing expenses to ¥4,115 million (up 9.2% YoY) and procurement costs to ¥607 million (up 77.5% YoY).
• Research and development expenses increased by 43.8% YoY to ¥217 million.

SEC’s FY2026/3 results are notable for achieving record highs across sales, all profit metrics, orders received, and order backlog, marking nine consecutive years of revenue and profit growth. The continuous increase in orders received for the eleventh year and the record-high order backlog could suggest a strong foundation for future revenue stability and potential growth. Additionally, the decrease in the corporate tax burden ratio due to the wage increase promotion tax system appears to have contributed to the increase in net profit.

• Technohorizon Co., Ltd. resolved at its Board of Directors meeting on May 25, 2026, to absorb and merge its wholly-owned subsidiary, Apollo Seiko Co., Ltd.
• The merger aims to streamline and improve the efficiency of operations, as well as enhance profitability, by integrating the functions of the consolidated subsidiary as part of the Technohorizon Group’s business restructuring.
• The merger will be an absorption-type merger, with Technohorizon as the surviving company and Apollo Seiko being dissolved.
• The merger agreement was signed on May 25, 2026, and the planned effective date of the merger is April 1, 2027.
• As this is a merger of a wholly-owned subsidiary, there will be no allocation of shares or other financial consideration.

This absorption-type merger indicates Technohorizon’s strategic move to enhance overall group efficiency and streamline its business by integrating a wholly-owned subsidiary. While the impact on consolidated performance is stated to be minor, the potential occurrence of extraordinary losses in Technohorizon’s non-consolidated financial results for the fiscal year ending March 2027 is a point worth monitoring for investors.

• Nagoya Electric Works reported consolidated results for the fiscal year ended March 2026: Net sales of ¥17,307 million (up 0.3% YoY), Operating profit of ¥1,749 million (down 36.4% YoY), Ordinary profit of ¥1,794 million (down 35.5% YoY), and Net profit attributable to owners of parent of ¥1,518 million (down 31.2% YoY).
• For the fiscal year ending March 2027, the company forecasts consolidated net sales of ¥16,000 million (down 7.6% YoY), operating profit of ¥660 million (down 62.3% YoY), ordinary profit of ¥710 million (down 60.4% YoY), and net profit attributable to owners of parent of ¥560 million (down 63.1% YoY).
• The mid-term management plan “N-PLAN2026” has been revised, with the FY2027 sales target reduced from ¥22,000 million to ¥16,000 million, the operating profit margin target from “10% or more” to “4.0% or more”, and the ROE target from “10% or more” to “2.3% or more”.
• The shareholder return policy was changed from “stable dividends with a target payout ratio of 30% or more” to “progressive dividends with a payout ratio floor of 30%, maintaining or increasing the ordinary dividend level of the previous year.”
• In the environmental sector, the demonstration project for next-generation thin-film solar cells in Fukuoka Prefecture was completed, and a capital and business alliance was formed with PXP Co., Ltd. In overseas markets, a demonstration of traffic control materials in India was completed as part of a JICA SDGs business commercialization support project.

While sales for FY2026 remained flat, profit declines appear to be influenced by project delays and rising material costs. The projected decrease in revenue and profit for FY2027 may reflect the concentrated revenue recognition of large-scale projects and continued high raw material prices. The revision of the mid-term plan and the shift to a progressive dividend policy could signal the company’s commitment to adapting to future business structural changes and enhancing shareholder returns.

• Tirado Co., Ltd. announced a stock split, where each common share will be split into 10 shares, with a record date of June 30, 2026.
• The total number of outstanding shares will increase from 5,900,000 shares to 59,000,000 shares, and the total number of authorized shares will change from 15,000,000 shares to 150,000,000 shares.
• The effective date of the stock split is July 1, 2026.
• Concurrently, a partial amendment to the Articles of Incorporation (changing the total number of authorized shares) will take effect on the same date.
• The dividend forecast for the fiscal year ending March 2027 has been revised from an annual 800 yen 00 sen to 80 yen 00 sen per share to reflect the stock split, with no change to the effective dividend level.

This stock split appears designed to reduce the per-share investment unit, potentially making the shares more accessible to a broader range of investors. This move could lead to increased liquidity for the company’s shares. The explicit statement that the effective dividend level remains unchanged suggests a commitment to consistent shareholder returns despite the split.

• RHYTHM Co., Ltd. announced a partial correction to its “Consolidated Financial Results for the Fiscal Year Ending March 31, 2026 (Japanese Standards)” disclosed on May 14, 2026.
• The reason for the correction was that the operating profit margin for the fiscal year ending March 2026, described in “1. Overview of Business Performance, etc. (4) Future Outlook ① Medium-Term Management Plan a. Numerical Plan,” incorrectly stated a planned value instead of the actual result.
• The corrected figure for the operating profit margin for the fiscal year ending March 2026 changed from “4.2%” (before correction) to “4.6%” (after correction).
• There are no corrections to the operating profit margins for the fiscal years ending March 2025, March 2027, and March 2028, nor to any other numerical data.

This correction addresses a misstatement in RHYTHM’s medium-term management plan regarding the operating profit margin for the fiscal year ending March 2026, specifically replacing a planned value with the actual result. The revised figure indicates a higher actual operating profit margin for that period than initially stated. For investors, this highlights the importance of scrutinizing the accuracy of disclosed figures and how they align with the company’s mid-term performance targets.

• U-NEXT HOLDINGS Co., Ltd. signed a share transfer agreement on May 25, 2026, to acquire shares of GoHands Co., Ltd. and make it a subsidiary.
• GoHands, located in Osaka, Japan, is engaged in the planning and production of audio-visual content such as anime and games. Its representative director is Mr. Ringo Kishimoto.
• U-NEXT anticipates synergies including optimization of localization costs for overseas content, improvement of production efficiency and quality through digital technology, and future multi-layered revenue generation from in-house anime IP production.
• GoHands’ financial performance for the fiscal year ended July 2025 shows net sales of 464,477 thousand yen, operating profit of 1,902 thousand yen, and profit attributable to parent company shareholders of 518 thousand yen.
• U-NEXT will acquire 175 shares (100.0% of voting rights) of GoHands from Mr. Ringo Kishimoto using its own funds. The share acquisition date is scheduled for June 1, 2026.

This acquisition appears to be part of U-NEXT’s strategy to strengthen its revenue structure through IP-related businesses, aiming for sustained growth in its content distribution segment. By bringing an animation production company in-house, U-NEXT could enhance cost efficiency and diversify its revenue streams through content internalization and broader IP utilization. The emphasis on future in-house anime IP creation highlights a notable trend in media companies seeking to control and maximize the value of their intellectual property.

• Fibergate announced the release of its Q3 FY2026 earnings presentation video and full transcript.
• The recurring profit progress rate for the 3Q cumulative period stood at 73%. Quarterly EBITDA surpassed JPY 1 billion.
• The Home Use business segment recorded a record-high new construction ratio of 67%.
• The Business Use segment achieved an operating profit margin of 33.2%, a significant increase from the previous year, and posted over 14% revenue growth year-over-year, driving overall company performance.
• For the full-year outlook, while the revenue forecast was lowered, the profit forecast remains unchanged from previous assumptions.

Fibergate’s Q3 FY2026 results suggest that the Business Use segment is a key driver of overall revenue growth. The high operating profit margin and strong flow sales within the Business Use segment could indicate an improvement in its profitability. The decision to maintain the full-year profit forecast, despite a lowered revenue outlook, may also be worth monitoring for future business developments.

• CSS Holdings (ＣＳＳＨＤ) announced its consolidated financial results for the first half of the fiscal year ending September 2026 (October 1, 2025 – March 31, 2026).
• Cumulative net sales reached ¥10,383 million (up 5.0% YoY), operating income ¥566 million (up 10.5% YoY), ordinary income ¥576 million (up 8.6% YoY), and net income ¥386 million (up 27.7% YoY).
• EPS (earnings per share) for the interim period was ¥78.14, an increase of ¥17.66 from ¥60.48 in the same period last year.
• By segment, Steward Business reported sales of ¥4,967 million and operating income of ¥49 million; Food Service Business reported sales of ¥2,497 million and operating income of ¥55 million; Spatial Produce Business reported sales of ¥2,919 million and operating income of ¥247 million.
• On May 11, 2026, the company opened “MAGIC CHEF,” a robotic cooking restaurant, in the Telecom Center Building, in strategic partnership with TechMagic Inc.

The consolidated results for the second quarter cumulative period show an increase in net sales and all profit categories compared to the previous year, with a notable significant rise in interim net income. The positive performance appears to be driven by new business openings and efforts to secure appropriate profits in the Steward Business, robust new contracts in the Food Service Business, and strong demand for new and updated ITV and related equipment in the Spatial Produce Business. The launch of the “MAGIC CHEF” restaurant, utilizing cooking robots, could indicate a strategic move towards future operational efficiency and service quality enhancement.

• Oriental Shiraishi announced that its Board of Directors resolved on May 25, 2026, to sign a Letter of Intent (LOI) with Continental Engineering Corporation (CEC), a Taiwanese construction company, and executed it on the same date.
• The LOI aims to advance discussions for collaboration in related businesses and the establishment of a joint venture in Taiwan.
• Oriental Shiraishi possesses expertise in manufacturing technology, quality control, and production management for construction-related products, while CEC operates as a general contractor in Taiwan with local business foundations and networks.
• CEC is located in Taipei City, Taiwan, has a capital of 1,305 million New Taiwan Dollars, and was established on April 13, 1982.
• The LOI represents an initial agreement and is not expected to have a material impact on Oriental Shiraishi’s financial results or performance at this stage.

Oriental Shiraishi’s signing of an LOI with Taiwan’s Continental Engineering Corporation suggests a potential step towards expanding its overseas business. The collaboration aims to leverage both companies’ technological expertise and local market foundations to explore new business opportunities in Taiwan. While the current financial impact is stated to be non-material, the progress of future discussions and the terms of any formal agreement will be key areas for investors to monitor.

• Dainichiseika Color & Chemicals Mfg. Co., Ltd. announced a correction to a portion of its “Supplemental materials for the fiscal year ended March 2026” on May 25, 2026.
• The correction addresses errors identified in the supplementary materials initially disclosed on May 15, 2026.
• The specific section undergoing correction is on page 9, titled “FY2027/3 Consolidated Earnings Forecast Increase/Decrease Factors (FY2026/3 Results vs. FY2027/3 Forecast).”
• The IR document highlights the “Before Correction” and “After Correction” figures with red frames.

This correction indicates that there was an adjustment to the breakdown of figures within the previously disclosed supplementary earnings materials concerning future performance forecasts. Investors may find it important to review how this correction impacts the detailed increase/decrease factors for the consolidated earnings forecast for the fiscal year ending March 2027. A thorough examination of the specific changes presented in the IR document could offer a clearer understanding of the company’s outlook.