Shimizu (1803) Q1 2026 earnings summary

Executive summary

• Net sales rose 10.2% year-over-year to ¥441.8 billion for the quarter ended June 30, 2025, with operating income surging 874.7% to ¥17.3 billion and net income attributable to shareholders up 362.1% to ¥11.1 billion.

• Comprehensive income reached ¥24.1 billion, a significant turnaround from a loss in the prior year, driven by strong construction contract performance and improved investment gains.

Financial highlights

• Gross profit margin improved to 10.8% from 7.3% year-over-year, with total gross profit up ¥18.1 billion to ¥47.5 billion.

• Operating income increased to ¥17.3 billion from ¥1.8 billion, and ordinary income rose to ¥18.5 billion from ¥6.1 billion year-over-year.

• Net income per share was ¥16.33, up from ¥3.41 in the same quarter last year.

• Total assets decreased to ¥2,426.8 billion from ¥2,523.8 billion at March 31, 2025, while net assets increased to ¥929.3 billion.

• Interest-bearing debt declined to ¥556.9 billion from ¥591.4 billion sequentially.

Outlook and guidance

• Full-year net sales forecast at ¥1,910.0 billion, up 1.8% year-over-year, with operating income projected at ¥78.0 billion (+9.8%) and net income attributable to shareholders at ¥75.0 billion (+13.6%).

• Dividend forecast maintained at ¥44.00 per share for the year ending March 2026.