Toda (1860) Q4 2025 earnings summary
Event summary combining transcript, slides, and related documents.
Q4 2025 earnings summary
9 Mar, 2026Executive summary
Consolidated net sales for FY2024 rose 12.3% year-over-year to ¥586.7 billion, driven by large-scale construction projects and increased real estate sales in domestic investment development.
Operating income surged 48.8% year-over-year to ¥26.6 billion, reflecting improved profitability in architectural construction and gains from real estate sales.
Net income attributable to owners of the parent grew 56.4% year-over-year to ¥25.2 billion; ROE improved to 7.3%.
Orders received (non-consolidated) increased 19.6% year-over-year to ¥599.0 billion, mainly from private sector architectural and public sector civil engineering projects.
Growth investments continued in new building construction, overseas, and renewable energy businesses.
Financial highlights
Gross profit increased 21.7% to ¥76.8 billion; gross profit margin improved to 13.1% from 12.1% year-over-year.
Segment performance: Architectural construction net sales ¥358.1 billion (+10% YoY), civil engineering ¥127.1 billion (+6% YoY), domestic investment and development ¥47.7 billion (+108% YoY).
Operating profit margins rose in architectural construction (4.7%) and domestic investment and development (10.0%).
Equity ratio declined to 37.1% from 40.0% year-over-year.
Ordinary income reached ¥29.1 billion, up 14.1% year-over-year.
Outlook and guidance
FY2025/2026 consolidated net sales forecasted at ¥640.0 billion (+9.1% YoY), but operating income expected to decrease 9.9% to ¥24.0 billion.
Net income attributable to owners of parent projected at ¥21.0 billion (-16.6% YoY).
Orders received (non-consolidated) expected to decline 19.9% to ¥480.0 billion.
Annual dividend planned at ¥40 per share for FY2026, up from ¥30 per share.
Medium-Term Management Plan 2027 targets consolidated net sales of ¥800 billion and operating income of ¥43.5 billion by FY2027, with ROE of 10% or higher.
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