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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Air Water
Air Water (4088) investor relations material
Air Water Corporate presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Corporate presentation summary17 Sep, 2026
Management reform and governance
Comprehensive management reform focuses on corporate culture, governance, and internal controls to prevent recurrence of past issues.
Strengthening internal controls and governance at subsidiaries and group companies is a priority.
Internal audit and supervisory board audits are being reinforced.
Management is shifting from a focus on business scale to sustainable, quality-driven growth.
Decentralized management is being replaced by resource concentration and synergy creation.
Business portfolio and strategic focus
Full review of diversified businesses, with resources concentrated on core areas such as industrial gas, medical, and agriculture & food.
Businesses not meeting strategic fit, financial performance, or governance standards are being divested.
Recent divestments include fruit and vegetable wholesale and sweets companies.
Portfolio management evaluates strategic fit, financial performance, and governance for all businesses.
Growth strategy and operational strengths
Growth strategy emphasizes leveraging proprietary technology, integrated supply networks, and customer-driven solutions.
Industrial gas business manages the entire value chain in-house, ensuring stable supply and expanding cash flows.
Near-term focus is on capturing semiconductor demand; medium-term growth targets India and North America.
Medical and agriculture & food businesses focus on stable supply, value chain integration, and supporting essential infrastructure.
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Latest events from Air Water
- Revenue up, but net loss and major restatements due to accounting issues; outlook remains negative.4088
Q3 2026 - Major accounting issues caused large losses and restatements, but profitability is forecast for FY2026.4088Q4 2026
- Accounting scandal and impairments caused a sharp swing to net loss and sweeping reforms.4088Q2 2026
- Record Q1 growth in digital, semiconductor, and industrial gas, but major accounting issues led to restatements.4088Q1 2026
- Record Q2 profit and revenue growth across all segments; full-year outlook maintained.4088Q2 2025
- Revenue up 6.9% YoY, profit mixed, and major accounting corrections disclosed.4088Q1 2025
- Record profits and robust FY2025 growth with higher dividends and investment planned.4088Q4 2025
- Record-high 9M FY2024 results with broad-based growth and major accounting corrections disclosed.4088Q3 2025
Next Air Water earnings date
Q1 202716 Nov, 2026
Air Water
Next Air Water earnings date
Q1 202716 Nov, 2026
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Frequently asked questions
Air Water Inc. is a diversified corporation based in Japan, engaged in the manufacture and sale of a wide range of products and services across several sectors. The company's offerings include industrial gases like oxygen, nitrogen, argon, and carbon dioxide, alongside chemicals and functional materials. Air Water Inc. has also ventured into the energy sector, supplying LP gas, kerosene, and other fuels within Japan. In addition to its industrial and chemical products, the company provides medical, agricultural, and food products, highlighting its expansive reach into everyday businesses. It operates logistics services catering to various needs, from high-pressure gas to general cargo and food products logistics, as well as medical and environmental logistics. Air Water Inc. is headquartered in Osaka, Japan, and its shares are listed on the Tokyo Stock Exchange.