Taikisha (1979) Q2 2027 earnings summary

Executive summary

• H1 FY27 orders reached a record ¥184.516bn, up 1.7% YoY; revenue also hit a record ¥132.636bn, up 1.7%.

• Operating income was ¥8.949bn, down 14.5%; ordinary income was ¥9.744bn, down 11.7%; net income attributable to owners was ¥6.137bn, down 17.8%.

• Construction carried forward reached a record ¥365.965bn, up 26.8% YoY.

Financial highlights

• Gross profit was ¥23.830bn versus ¥24.179bn YoY, while SG&A rose to ¥14.880bn from ¥13.708bn.

• Basic EPS was ¥97.44 versus ¥116.46 YoY; ordinary-income margin was 7.3% versus 8.5%, and operating-income margin was 6.7% versus 8.0%.

• Operating cash flow was negative ¥14.232bn versus positive ¥12.558bn a year earlier; cash and cash equivalents ended H1 at ¥65.994bn.

Outlook and guidance

• FY27 order forecast rose to ¥350.0bn from ¥330.5bn and revenue to ¥312.0bn from ¥307.0bn; operating income, ordinary income and net income forecasts remain ¥23.8bn, ¥25.0bn and ¥18.0bn.

• Green Technology orders are forecast at ¥250.5bn, up from ¥231.0bn; Paint Finishing orders are forecast at ¥97.0bn.

• FY27 Green Technology revenue and ordinary income are forecast at ¥200.0bn and ¥25.3bn; Paint Finishing revenue and ordinary income are forecast at ¥110.0bn and ¥0.7bn.

• FY27 EPS forecast is ¥285.77; annual dividend forecast remains ¥119 per share.

• Forecast assumptions include ¥148.00/US$, ¥4.92/THB, ¥20.80/CNY and ¥1.68/INR; a 1% move in all rates affects forecast revenue by ¥1.6bn and ordinary income by ¥0.07bn.