Okabe (5959) Investor update summary

2025 results and 2026 outlook

• FY2025 revenue ¥69,758m, up 2.9% YoY; operating profit ¥4,762m, up 13.5% YoY, despite construction cost pressure and project delays.

• Higher-value product sales and strong US infrastructure demand supported FY2025 profit growth.

• FY2026 forecast: revenue ¥72,500m, up 3.9%; operating profit ¥5,150m, up 8.1%.

• OX-2026 operating profit target raised from ¥5bn to ¥5.15bn, a ¥150m increase, on stronger earnings foundations.

Growth strategy

• Refreshed Select Base for larger projects combines simpler installation, broader design options and improved performance-cost value; FY2026 sales target ~¥1.5bn.

• Level Angle NS, a new slab-edge formwork method, recorded FY2025 sales of ¥150m during trial sales; nationwide rollout starts in FY2026.

• US infrastructure growth supported by expanded Chicago warehouse capacity and a new Philadelphia-area factory building; ambition to become the US No. 1 concrete accessories maker.

• M&A will focus on domestic opportunities with clear synergies, targeting construction labor-saving, DX, disaster prevention, decarbonization and adjacent growth areas.

Business portfolio and products

• Construction represented 90.4% of FY2025 sales and 78.7% of operating profit; diversified businesses contributed 21.3% of operating profit.

• Base Pack has been adopted in over 300,000 buildings; its column-base method aims to protect buildings and lives from earthquake damage.

• One-piece formwork tie method reduces total weight by ~70%, shortens work time and cuts transport-related CO2 emissions.