Yokogawa Bridge Holdings (5911) Q4 2026 earnings summary

Executive summary

• FY 2025 net sales declined 9.7% year-over-year to ¥143,877 million, with operating profit down 19.0% to ¥13,500 million and profit attributable to owners down 32.5% to ¥8,682 million.

• Operating profit surpassed initial expectations due to strong performance in select segments, despite lower sales.

• The acquisition and consolidation of Br. Holdings Corporation and other subsidiaries expanded business domains, positioning the group as a comprehensive bridge engineering provider and boosting order backlog and assets.

• Orders received totaled ¥156,370 million, nearly flat year-over-year, while backlog of orders rose sharply to ¥261,990 million, reflecting Br. Holdings consolidation.

Financial highlights

• FY 2025 net sales: ¥143,877 million, down ¥15,491 million year-over-year; operating profit: ¥13,500 million, down ¥3,176 million; profit attributable to owners: ¥8,682 million, down ¥4,176 million.

• Gross profit decreased by ¥2,242 million to ¥26,107 million; SG&A expenses increased by ¥933 million to ¥12,606 million.

• Operating profit margin decreased to 9.4% from 10.5% year-over-year.

• Basic earnings per share fell to ¥218.34 from ¥317.02 year-over-year.

• Equity ratio declined to 52.9% from 59.7% due to increased liabilities from Br. Holdings acquisition.

Outlook and guidance

• FY 2026/2027 net sales forecast: ¥198,000 million, a significant increase due to Br. Holdings consolidation.

• Operating profit forecast: ¥12,000 million, a decrease from FY 2025.

• Profit attributable to owners forecast: ¥8,200 million.

• Dividend per share expected to rise to ¥130 (+¥10 YoY), with a DOE target of 3.5% or more.