Kandenko (1942) Q4 2025 earnings summary

Executive summary

• Net sales rose 12.3% year-over-year to ¥671.9 billion (¥671,888 million) on a consolidated basis, with significant growth across all major business segments.

• Operating profit increased 42.5% year-over-year to ¥58.3 billion (¥58,326 million).

• Profit attributable to owners of the parent surged 55.0% to ¥42.4 billion (¥42,380 million).

• Orders received and backlog both reached record highs, reflecting robust demand in electrical engineering, power distribution, and civil engineering.

• Comprehensive income reached ¥45,492 million, up 2.5% year-over-year.

Financial highlights

• Consolidated net sales: ¥671.9 billion (+12.3% YoY); operating profit: ¥58.3 billion (+42.5% YoY); profit attributable to owners: ¥42.4 billion (+55.0% YoY).

• Ordinary profit grew 39.5% YoY to ¥59,498 million.

• Earnings per share increased to ¥207.35 from ¥133.80 YoY; non-consolidated EPS rose to ¥182.59.

• Total assets rose to ¥603,220 million from ¥567,275 million YoY; net assets increased to ¥380,949 million, with an equity ratio of 61.0%.

• Cash and cash equivalents at year-end: ¥57.8 billion, down from ¥62.4 billion prior year.

Outlook and guidance

• FY2025 consolidated net sales forecast: ¥703.0 billion (+4.6% YoY); operating profit: ¥63.0 billion (+8.0% YoY); profit attributable to owners: ¥46.0 billion (+8.5% YoY).

• Earnings per share forecasted at ¥225.06 for FY2026.

• Dividend per share increased to ¥82, with a forecast of ¥90 for FY2025/FY2026; payout ratio targeted at 40%.

• Non-consolidated net sales forecast: ¥607.0 billion (+4.1% YoY); profit: ¥41.5 billion (+11.2% YoY).