UEKI Corporation (1867) Q4 2025 earnings summary

Executive summary

• Revenue decreased by 9.3% year-over-year to ¥50,703 million due to delayed progress in large construction projects, despite a favorable economic environment and steady public/private investment.

• Operating income rose 10.0% to ¥2,853 million and ordinary income increased 11.1% to ¥2,950 million, driven by improved profit margins in large civil engineering projects.

• Net income attributable to shareholders grew 3.1% to ¥1,934 million.

Financial highlights

• Gross margin improved, with operating margin at 5.6%, ordinary margin at 5.8%, and net margin at 6.9%.

• Total assets increased to ¥50,897 million, and net assets rose to ¥29,062 million, with an equity ratio of 57.0%.

• Cash and equivalents at year-end were ¥6,215 million, up from ¥3,855 million.

• Operating cash flow was ¥2,649 million, investment cash flow was negative ¥1,083 million, and financing cash flow was ¥793 million.

Outlook and guidance

• FY2026 revenue is forecast to rise 18.3% to ¥60,000 million, but operating profit is expected to fall 13.5% to ¥2,470 million and net profit to decrease 12.1% to ¥1,700 million due to anticipated margin pressure from rising material and labor costs.

• The company will maintain a ¥90 per share dividend, reflecting a stable payout policy.