Kinden (1944) Q4 2026 earnings summary

Executive summary

• FY2025 consolidated completed construction revenue reached ¥750.742bn (+6.5% YoY), operating profit ¥90.256bn (+48.0%), and parent-attributable net income ¥69.447bn (+47.0%); all consolidated profit categories exceeded forecasts.

• Standalone orders reached a record ¥722.197bn and year-end backlog a record ¥581.7bn, supported by steady demand and project progress.

• Next-year consolidated guidance targets ¥810bn revenue and ¥97bn operating profit; planned dividend is ¥240 per share.

Financial highlights

• Consolidated gross construction profit rose 33.2% to ¥176.911bn; gross margin expanded 4.8 points to 23.6%, and operating margin increased 3.4 points to 12.0%.

• Ordinary profit was ¥94.493bn (+46.4%), EPS ¥350.53 versus ¥236.26, and comprehensive income ¥88.335bn versus ¥50.292bn.

• Standalone revenue was ¥612.505bn (+2.8%), operating profit ¥79.120bn (+51.0%), and net income ¥63.584bn (+50.1%).

• Consolidated operating profit, ordinary profit, and parent-attributable net income exceeded revised forecasts by 7.4%, 8.0%, and 6.0%, respectively.

Outlook and guidance

• Next-year consolidated forecast: revenue ¥810bn (+7.9%), operating profit ¥97bn (+7.5%), ordinary profit ¥96bn (+1.6%), and parent-attributable net income ¥70bn (+0.8%).

• Consolidated gross margin is forecast at 23.2%, down 0.4 points, while operating margin is forecast at 12.0%.

• Standalone forecast: revenue ¥670bn (+9.4%), operating profit ¥89bn (+12.5%), net income ¥67bn (+5.4%), and EPS ¥389.04; orders are forecast at ¥680bn (-5.8%).

• Ample backlog, favorable order conditions, and steady project progress support expected growth in revenue and profit.