Okano Valve Mfg (6492) Q4 2026 earnings summary

Executive summary

• FY Sep 2026 revenue was ¥11,525m, operating income ¥2,606m, ordinary income ¥2,745m and net income attributable to owners ¥1,966m; the prior period covered 10 months, so YoY comparisons were not presented.

• High-margin additional nuclear plant maintenance orders and strong utilization supported earnings; maintenance revenue and valve sales both exceeded plan.

Financial highlights

• Revenue was ¥11,525m versus ¥7,006m in the prior 10-month period; operating income was ¥2,606m versus ¥864m, and ordinary income was ¥2,745m versus ¥979m.

• Net income attributable to owners was ¥1,966m versus ¥825m; comprehensive income was ¥2,218m versus ¥913m.

• Current-period investment securities gains were ¥9m, compared with ¥335m in the prior period; prior-period operating cash flow also reflected the absence of that prior-period gain in the current period.

Outlook and guidance

• FY Sep 2027 guidance: revenue ¥10,760m (-6.6%), operating income ¥1,517m (-41.8%), ordinary income ¥1,642m (-40.2%), net income ¥1,024m (-47.9%) and EPS ¥636.82.

• H1 FY Sep 2027 guidance: revenue ¥5,400m (-7.6%), operating income ¥691m (-61.3%), ordinary income ¥753m (-59.5%), net income ¥465m (-64.0%) and EPS ¥289.18.

• Lower scheduled maintenance work, fewer high-profit additional orders and utilization returning to normal are expected to raise the cost ratio and reduce earnings.

• Planned work includes nuclear plant valve deliveries and inspections, Fukushima Daiichi decommissioning work, and expanded new-business orders emphasizing profitability.