TOA (1885) Q4 2025 earnings summary

Executive summary

• FY2025 marked a second consecutive year of sales and profit growth; consolidated operating profit and ordinary profit, non-consolidated orders, and ROE reached record highs. ROE was 14.7%.

• FY2026 guidance calls for slightly higher sales but lower profit, with substantial backlog execution and investment in personnel and systems as priorities.

Financial highlights

• Consolidated net sales were ¥330,472 million, gross profit ¥34,971 million, operating profit ¥20,621 million and ordinary profit ¥20,073 million in FY2025.

• Profit attributable to owners of parent rose 41.8% to ¥14,908 million; basic EPS was ¥187.94 on a stock-split-adjusted basis.

• Non-consolidated net sales increased 17.3% to ¥317.8 billion and gross profit rose 18.6% to ¥31.8 billion.

Outlook and guidance

• FY2026 consolidated net sales are forecast at ¥335,000 million (+1.4%); operating profit at ¥18,000 million (-12.7%), ordinary profit at ¥17,500 million (-12.8%) and attributable profit at ¥12,500 million (-16.2%).

• Orders received are forecast to fall 35.0% to ¥230,000 million as resources focus on the substantial backlog; the non-consolidated construction backlog was ¥512.9 billion.

• Operating profit is expected to decline partly due to proactive investment in personnel and systems to support productivity and construction capacity; gross profit is expected near FY2025 levels.

• FY2026 non-consolidated sales are forecast at ¥320.0 billion (+0.7%); gross profit at ¥31.7 billion (-0.3%).