Yamaura (1780) Q4 2026 earnings summary

Executive summary

• Revenue increased 13.8% year-over-year to ¥40,526 million, with operating income up 9.4% and net income attributable to shareholders rising 5.4%.

• Growth was driven by robust construction demand, especially in private sector building projects and public works, despite ongoing industry challenges such as high material costs and labor shortages.

• Orders received rose 12.2% year-over-year, and the company exceeded its medium-term plan in condominium sales.

Financial highlights

• Operating income: ¥4,259 million (+9.4% YoY); Ordinary income: ¥4,566 million (+15.1% YoY); Net income: ¥3,165 million (+5.4% YoY).

• Gross margin improved, with comprehensive income up 12.9% year-over-year.

• Total assets at year-end: ¥36,007 million; Net assets: ¥26,180 million; Equity ratio: 72.7%.

• Cash and equivalents at year-end: ¥7,699 million, down ¥4,450 million from the previous year.

Outlook and guidance

• FY2027 forecast: Revenue ¥41,126 million (+1.5% YoY), operating income ¥3,694 million (–13.3% YoY), net income ¥2,714 million (–14.2% YoY).

• Management remains cautious due to continued uncertainty in global economic conditions and rising costs.