Toa Road Corporation · TSE:1882
Toa Road — H1 FY2025 Earnings Presentation
35 slides from Toa Road's earnings presentation, Mar 31, 2026
Slide 1: Financial Results Briefing Material Six months ended March 31, 2026
Six months ended March 31, 2026 Financial Results Briefing Material Ahead of the Curve On Top of the Market
Slide 2: Contents
Contents 1 Summary of financial results for the six months ended March 31, 2026 2 Financial results forecasts for the fiscal year ending March 31, 2026 3 Progress on the FY2024–FY2026 Medium-term Management Plan 4 Action to implement management that is conscious of capital cost and stock price 5 Cor
Slide 3: Summary of financial results for the six months ended March 31, 2026
1 Summary of financial results for the six months ended March 31, 2026
Slide 4: Major initiatives in FY2025
Business environment in period under review ■The Japanese economy showed signs of improvement in corporate capital investment and private consumption. However, the outlook remains uncertain mainly due to soaring energy prices and heightened geopolitical risks. Construction investment has remained so
Slide 5: Financial results summary (consolidated)
Financial results summary (consolidated) (Millions of yen) YoY change YoY change Initial Achievement Consolidated 1H of FY2024 1H of FY2025 (Amount) (%) forecast ratio Net sales 53,881 51,459 ▲2,422 ▲4.5% 127,000 42.8% Gross profit 4,383 4,783 399 9.1% ― ― SGA expenses 4,206 4,376 170 4.1% ― ― Opera
Slide 6: Results of net sales and profit/loss by segment
Results of net sales and profit/loss by segment (consolidated) (Millions of yen) YoY change YoY change Initial Achieveme Net sales 1H of FY2023 1H of FY2024 1H of FY2025 (Amount) (%) forecast nt ratio Construction 29,114 31,520 29,745 ▲1,774 ▲5.6% ― ― Asphalt Products, 21,710 22,360 21,713 ▲647 ▲2.9
Slide 7: Analysis of factors for changes in profit
Analysis of factors for changes in profit (consolidated) Profit increased by 518 Profit decreased by 652 (Millions of yen) Decrease in extraordinary income from gain on sale of securities 399 17 460 extraordinary income Decrease in extraordinary losses Decrease in profit Increase in gross 93 9 7 15
Slide 8: Consolidated financial position and consolidated cash flows
Consolidated financial position and consolidated cash flows ■Interest-bearing ■Net assets － ●－Equity-to- Consolidated financial position （単位：百万円） liabilities asset ratio (Millions of yen) (％) YoY change 1H of FY2023 1H of FY2024 1H of FY2025 70,000 70.0 (Amount) 63.7 Total assets 84,000 83,344 81,39
Slide 9: Financial results forecasts for the fiscal year ending March 31, 2026
2 Financial results forecasts for the fiscal year ending March 31, 2026
Slide 10: Financial Results Forecast for FY2026
Financial Results Forecast for FY2026 (Millions of yen) FY2025 Consolidated FY 2025 (Forecast) YoY change (Amount) YoY change (%) Net sales 126,575 127,000 424 0.3% Operating profit 5,015 6,500 1,484 29.6% Ordinary profit 5,206 6,600 1,393 26.8% Profit attributable to owners of parent 4,127 4,100 ▲2
Slide 11: Progress on the FY2024–FY2026 Medium-term Management Plan
3 Progress on the FY2024–FY2026 Medium-term Management Plan
Slide 12: Corporate philosophy, 100th anniversary vision and medium-term plan
企業理念、創立100周年ビジョンと中期経営計画 Since its founding, TOA ROAD CORPORATION has pursued an independent path, cultivating a free and open corporate culture that is unafraid of change. Under this culture, the Company has built its own unique value-creation approach that responds to the needs of the times. Toward
Slide 13: Corporate philosophy, 100th anniversary vision and medium-term management plan
Corporate philosophy, 100th anniversary vision and medium-term management plan “TOA ROAD Vision 2030,” the 100th anniversary vision Consolidated financial result GOAL Net sales (target) ¥150.0 billion Refine the TOA Style to be the Only One Company always chosen by the society Operating profit (targ
Slide 14: Recognition of the business environment
Recognition of the business environment Since the announcement of the previous medium-term management plan in May 2021, the international landscape has changed significantly. In Japan as well, issues related to the deterioration of infrastructure have become increasingly apparent. External environme
Slide 15: Progress of strategic targets (FY2025–1H FY2025)
Progress of strategic targets (FY2025–1H FY2025) Progress of the business strategy toward “establishment of a foundation for sustainable growth” We aim to establish “a foundation for sustainable growth” by deploying individual business strategies using the R&D strategies as a common platform and man
Slide 16: Multi-Stakeholders Policy initiatives
Toa Road Corporation is striving to appropriately cooperate with its multi-stakeholders, understanding that collaborative value creation, not only with our shareholders, but also with our employees, business partners, customers, creditors, local communities and other various stakeholders, has become
Slide 17: Value Creation Process
‘TOA BRT RSA Value Creation Process =glojbesthe Only;One'Company,.always ese echosen by the society- ii) ‘The Group strives to improve corporate value by responding to the needs of the times and society, contributing to the realization of a sustainable society through infrastructure development, pro
Slide 18: Action to implement management conscious of capital cost and stock price
4 Action to implement management that is conscious of capital cost and stock price
Slide 19: Profitability Improvement on Balance Sheets
Profitability Improvement on Balance Sheets Reduction of cross-shareholdings Target: Reduce cross-shareholding to around 1/3 of the fair value of the shares held as of March 31, 2024, which is ¥3.96 billion Period: Three years starting from the current fiscal year (FY2024) to FY2026 Balance of liste
Slide 20: Shareholder returns: Target direction
株主還元～方針の変更 Shareholder returns: Target direction Set a baseline of 100% dividend payout ratio and strive for DOE 8% 配当金と配当性向 DOE ■ 配当金 ー 配当性向 (円) (%) (%) 120 100.9 100 10.0 8.1 100 8.0 80 80 52.5 60 6.0 60 4.0 40 4.0 40 27.0 90 23.5 1.9 1.8 16.9 1.8 20 2.0 20 42 16 18 18 0 0 0.0 FY2020 FY2021 FY2022
Slide 21: Progress of capital policy
Progress of capital policy Mid- to long-term investment in growth Total investment amount target for 3 years ¥15 billion or more ¥1.38 billion was invested for the first half of FY2025, the second year of the target period. Current progress status is 31.2% of the total investment amount target for 3
Slide 22: Management strategies with a keen eye on capital costs
“Management strategies with a keen eye on capital costs” Having a precondition that we will ensure resilient management foundation to address the era of uncertainty, we will strive to improve our corporate value with a keen eye on capital cost, by setting a KPI for profitability on invested capital
Slide 23: Summary of capital policy
Summary of capital policy Strengthen shareholder returns by increasing dividend payout ratio ◇ Target: Dividend payout ratio of 100％, DOE of 8.0% ◇ Dividends are significantly increased, such as the dividend paid of ¥42 per share (dividend payout ratio: 52.5%, DOE: 4.0%) for FY2023, and dividend pai
Slide 24: Corporate profile
(TOA BBB IRT RASA Corporate profile
Slide 25: Corporate philosophy and corporate profile
Corporate philosophy and corporate profile Corporate philosophy Support peoples’ lives from the road they stand on with our own will and growth Corporate name TOA ROAD CORPORATION Date of establishment November 28, 1930 Head office 7-3-7 Roppongi, Minato City, Tokyo Representative Kyouichi Morishita
Slide 26: Major consolidated subsidiaries
主な連結子会社 Net sales Reportable (Before Company name Head office Business description segment consolidation adjustment) Supervising and work for road construction, general civil FUJIKENSETSU CORPORATION Construction Muroran City, Hokkaido ¥3,139 million engineering, sports facilities, architecture, and
Slide 27: Major offices, research institute, consolidated subsidiaries, etc.
Major offices, research institute, consolidated subsidiaries, etc. Branch offices, sales 40 offices offices, etc. Technical Research 1 location Institute Hokkaido Product factories 24 factories • Hokkaido Branch Asphalt mixing plants 43 plants Subsidiaries 24 subsidiaries Tohoku Shin-etsu and Hokuri
Slide 28: Our track record in construction
Our track record in construction FY2022 Shizuma Nima Road pavement construction Improvement and pavement construction work at Hokuriku Shinkansen work in Isotake district Kammuriyama Toge Road in Tsuka district (Chugoku Regional Development Bureau, MLIT) (Kinki Regional Development Bureau, MLIT) Fuk
Slide 29: Our new technologies
Our new technologies MWD plus (a pavement inspection vehicle that measures deflection Development of photovoltaic road surfacing system (Wattway) volume and pavement surface conditions at the same time） In order to achieve the SDG goals, the Company is working jointly with Colas (a The Company devel
Slide 30: Our products
Our products ECO Binder series Fast-As ECO Binder series are environmentally-friendly modified asphalt Fast-As is a road surface repair material developed for easier use that can be produced at approximately 30℃ lower than the for small-scale work. It is made of modified asphalt emulsion and tempera
Slide 31: Appendix
(TOA BBSRC Appendix
Slide 32: Consolidated management indicator trends
連結経営指標 Consolidated management indicator trends Term 108th 109th 110th 111th 112th 113th 114th 115th 116th 117th 118th 119th Fiscal year 2012 2013 2014 2015 2017 2018 2019 2020 2021 2022 2023 2024 Net sales (Million yen) 118,848 113,663 96,586 99,849 98,218 103,676 109,123 111,801 112,118 118,721 11
Slide 33: Consolidated management indicators
Consolidated management indicators (Capital investment, R&D, depreciation, shareholder returns, etc.) Consolidated management indicator trends ■ Ordinary profit ■ Profit (loss) attributable to owners of parent －●－ Equity-to-asset ratio －●－ Return on equity (ROE) （％） 80 61.1 70 57.9 58.9 59.0 50.4 53
Slide 34: Forward-looking statements
Forecasts, plans and any other forward-looking statements contained herein are based on the information currently available and assumptions and hypothesis deemed to be reasonable by the Company. Actual results may differ from these statements due to future changes in the business environment and var
Slide 35: Inquiries
Inquiries Corporate Planning Office TEL +81-3-3405-1811 FAX +81-3-3405-9800 URL https://www.toadoro.co.jp