Fukuda (1899) Q2 2025 earnings summary

Executive summary

• Revenue/net sales for the six months ended June 30, 2025, rose 2.4% year-over-year to ¥77,503 million, with operating income up 1.9% to ¥3,596 million and net income attributable to shareholders up 3.9% to ¥2,555 million.

• Gross profit increased by 1.9% year-over-year to ¥8,551 million, driven by strong construction orders and improved project margins.

• Comprehensive income decreased 5.2% year-over-year to ¥2,704 million.

• Operating income, ordinary income, and net income attributable to shareholders all rose compared to the same quarter last year.

Financial highlights

• Revenue: ¥77,503 million, up 2.4% year-over-year.

• Gross profit: ¥8,551 million, up 1.9% year-over-year.

• Operating income: ¥3,596 million, up 1.9% year-over-year.

• Net income attributable to shareholders: ¥2,555 million, up 3.9% year-over-year.

• Basic earnings per share: ¥308.68, up from ¥297.35 in the prior year.

Outlook and guidance

• Full-year 2025 forecast: revenue/net sales of ¥167,000 million (+0.2% year-over-year), operating income of ¥6,000 million (-21.7%), ordinary profit of ¥6,300 million (-20.8%), and net income attributable to shareholders of ¥4,300 million (-19.0%).

• Annual dividend forecast maintained at ¥200 per share.

• Progress rates for profits are around 60% at the second quarter mark, while revenue progress is 46.4%.

• Risks remain from material price fluctuations, labor costs, and project progress.