Asanuma Corporation · TSE:1852
Asanuma — FY2025 Earnings Presentation
44 slides from Asanuma's earnings presentation, May 25, 2026
Slide 1: FY2025 Financial Results Presentation
Disclaimer: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. FY2025 (Fiscal Year Ended March 2026) Financial Results Presentation ASANUMA C
Slide 2: Contents
Contents 1 Business Performance & Financials 1. FY2025 Results p.4 2. Three-Year Medium-Term Plan: Performance & Cash Allocation p.10 3. Shareholder Returns p.12 2 Progress on KPIs & Initiatives under the Three-Year Medium-Term Plan (FY2024 - 2026) 1. Themes of the Three-Year Medium-Term Plan p.15 2
Slide 3: Business Performance & Financials
1 Business Performance & Financials © 2026 Asanuma Corporation. 3
Slide 4: FY2025 Results – Performance Highlights (Consolidated)
1 Business Performance & Financials 1. FY2025 Results – Performance Highlights (Consolidated) ⚫ Orders received, net sales, and profits all increased YoY. Although we fell slightly short of the revised forecast disclosed on February 10, we achieved the initial plan. As a result, we plan to increase
Slide 5: FY2025 Results – P/L (Consolidated)
1 Business Performance & Financials 1. FY2025 Results – P/L (Consolidated) ⚫ Net sales in the domestic construction sector declined slightly YoY primarily due to orders received for renovation projects in FY2024 underperforming FY2023, but overall net sales from the domestic civil engineering busine
Slide 6: FY2025 Results – B/S (Consolidated)
1 Business Performance & Financials 1. FY2025 Results – B/S (Consolidated) ⚫ Repaid borrowings following a decrease in trade receivables due to the completion of major construction projects. ⚫ Retained earnings increased due to an increase in profits exceeding the initial plan and the reversal of a
Slide 7: FY2025 Results – C/F (Consolidated)
1 Business Performance & Financials 1. FY2025 Results – C/F (Consolidated) ● Operating CF: Recorded profit before income taxes of ¥16,833 million due to increased sales and profits, and a decrease in trade receivables of +¥5,294 million following the completion of large-scale construction projects A
Slide 8: FY2025 Results – By Major Business Segment
1 Business Performance & Financials 1. FY2025 Results – By Major Business Segment ⚫ Parent company – Building construction: Despite smooth project progress, net sales of completed construction contracts declined slightly YoY due to a reactionary decline following the completion of large-scale projec
Slide 9: FY2025 Results – Breakdown of Orders by Type of Business
1 Business Performance & Financials 1. FY2025 Results – Breakdown of Orders (Non-consolidated) by Type of Business ⚫ Orders received on a non-consolidated basis (domestic*1) increased significantly YoY (+23.0%) ⚫ In the building construction segment, public-sector orders, a key focus area, increased
Slide 10: Three-Year Medium-Term Plan: Performance & Cash Allocation
1 Business Performance & Financials 2. Three-Year Medium-Term Plan: Performance & Cash Allocation ⚫ In the FY2026 plan, while orders are expected to decline compared to FY2025, sales, profits, and dividends are projected to remain largely flat. Increased sales, profits, and dividends are projected v
Slide 11: Three-Year Medium-Term Plan: Cash Allocation
1 Business Performance & Financials 2. Three-Year Medium-Term Plan: Performance & Cash Allocation ⚫ Cash of approximately ¥18–20 billion to be generated over the three-year medium-term plan will be allocated to investment and shareholder returns Cash In Cash Out Details (FY2024-2026) (FY2024-2026) •
Slide 12: Shareholder Returns (1) Dividend Amount & Payout Ratio Trend
1 Business Performance & Financials 3. Shareholder returns (1) Dividend amount & Payout ratio trend ⚫ Dividend amounts are scheduled to increase vs. the initial plan for nine consecutive fiscal years leading up to FY2026, resulting in a progressive dividend. ⚫ The shareholder returns policy under th
Slide 13: Shareholder Returns (2) Share Price Performance and PBR Trends
1 Business Performance & Financials 3. Shareholder returns (2) Share Price Performance and PBR Trends ⚫ Recent share price performance trend (covering approximately eight years, starting from the launch of the three-year medium-term plan two fiscal years ago). For reference, compared to the TOPIX Fl
Slide 14: Progress on KPIs and Strategic Measures
2 Three-Year Medium-Term Plan (FY2024 to FY2026) Progress on KPIs and Strategic Measures © 2026 Asanuma Corporation. 14
Slide 15: Themes of the Three-Year Medium-Term Plan
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 1. Themes of the Three-Year Medium-Term Plan ⚫ Six themes were selected as the themes to focus on during the three years of the plan. Environment Surrounding the construction industry in Japan For being a more vibra
Slide 16: Initiatives by Strategic Theme (1/6)
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (1/6) Theme (what we will focus on Key Initiatives during the three years) Building construction business: Implement the strategic approach to order intake, along with initiatives t
Slide 17: Initiatives by Strategic Theme (1/6): Civil Engineering
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (1/6) Theme (what we will focus on Key Initiatives during the three years) Civil engineering business: Undertaking comprehensive reforms, including organizational and corporate cult
Slide 18: Initiatives by Strategic Theme (1/6): Orders by Project Type
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (1/6) Theme (what we will focus on Key Initiatives during the three years) • FY2025 Results – Breakdown of Orders (Non-consolidated) by Type of Projects Others Water Supply Others F
Slide 19: Initiatives by Strategic Theme (2/6)
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (2/6) Theme (what we will focus on Key Initiatives during the three years) Responding to the growing social Securing demand in the face of awareness of environmental medium- to long
Slide 20: Domestic and Overseas Renovation Results
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (2/6) Theme (what we will focus on Key Initiatives during the three years) • Domestic Renovations • Overseas Renovations (Results of Two Renovation-Focused Subsidiaries） (Unit: mill
Slide 21: Good Cycle Building through Environmentally Friendly Technologies
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (2/6) Theme (what we will focus on Key Initiatives during the three years) • GOOD CYCLE BUILDING through environmentally friendly technologies By actively incorporating natural mate
Slide 22: Awards and Renovation Measures
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (2/6) Theme (what we will focus on Key Initiatives during the three years) • “Earth-Returning Bricks” won an award in Resource Circulation Division at the “Soil & Green Future Award
Slide 23: Initiatives by Strategic Theme (3/6)
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (3/6) Theme (what we will focus on Key Initiatives during the three years) Average employee tenure 22.0 years (Ranked No.１ in average employee tenure among Japan’s 23 leading genera
Slide 24: Initiatives by Strategic Theme (4/6)
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (4/6) Theme (what we will focus on Key Initiatives during the three years) • Implementation of DX training for all employees DX Literacy Human Resource Development Program To improv
Slide 25: Initiatives by Strategic Theme (5/6)
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (5/6) Theme (what we will focus on Key Initiatives during the three years) • [Strengthening Governance] Reduced the number of cross-shareholdings Ratio of listed equities to net ass
Slide 26: Initiatives by Strategic Theme (6/6)
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 2. Initiatives by Strategic Theme (6/6) Theme (what we will focus on Key Initiatives during the three years) • Obtained third-party assurance toward Science Based Targets (SBT)*1 certification We have obtained third
Slide 27: KPI Progress by Theme
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 3. KPI Progress by Theme ⚫ KPIs have been established for each strategic theme. FY2025 results generally indicate solid progress toward achieving our targets by the end of FY2026. While we have achieved some of our
Slide 28: TOPICS: The Journey of Team Asanuma
2 Progress on Initiatives & KPIs under the Three-Year Medium-Term Plan (FY2024-2026) 4. TOPICS ⚫ The Netherlands Pavilion, which we were in charge of constructing at Expo 2025 Osaka, Kansai, is currently being relocated to Awaji Island following the event’s conclusion in October 2025. The Journey of
Slide 29: Appendix
Appendix © 2026 Asanuma Corporation. 29
Slide 30: KPI Calculation Methods and Past Results 1/13
Appendix 1/13 1 KPI calculation methods and past results Theme Financial/ (what we will focus on Calculation methods and past results during the three years) non-financial KPI ⚫ Where a construction performance evaluation is received Where the survey was conducted (mainly government works) Questionn
Slide 31: KPI Calculation Methods and Past Results 2/13
Appendix 2/13 Theme Financial/ (what we will focus on Calculation methods and past results during the three years) non-financial KPI Gross profit per hour Calculation ⚫ Gross profit (consolidated)/all employees’ working hours (non-consolidated) worked methods DX 4 6,000 yen Past result ⚫ FY2023: 5,2
Slide 32: Consolidated Financial Results for FY Ended March 2026
Appendix 3/13 １．Consolidated Financial Results for the Fiscal Year Ended March 31 , 2026 Orders received, net sales, and profits all exceeded the previous fiscal year, resulting in higher revenue and profits year on year. While performance came in slightly below the revised forecast announced on Feb
Slide 33: Non-Consolidated Financial Results
Appendix 4/13 2．Non-Consolidated Financial Results for the Fiscal Year Ended March 31 , 2026 ■Non-Consolidated Statement of Income ■Non-Consolidated Balance Sheet (million yen) FY2023 FY2024 FY2025 FY2023 FY2024 FY2025 Percentage of Percentage of Results Results Initial Plan Revised Plan Results YOY
Slide 34: Results Overview of Group Companies
Appendix 5/13 ３．Results Overview of Group Companies - SINGAPORE PAINTS： Due to weak order intake over the past two fiscal years, net sales and profits declined year on year in the most recent fiscal year, falling short of the plan. - EVERGREEN： Large-scale projects secured in the fiscal year ended M
Slide 35: Forecast for the Fiscal Year Ending March 2027
Appendix 6/13 ４．Forecast for the Fiscal year Ending March 31, 2027 - Orders: Orders received in the fiscal years ended March 2025 and March 2026 were strong, resulting in a solid backlog of construction work. Accordingly, rather than pursuing order volume, the Company will further promote more selec
Slide 36: Breakdown of Orders (Non-Consolidated) by Sector
Appendix 7/13 ５．Breakdown of Orders （Non-Consolidated） （million yen） （million yen） FY2024 FY2025 FY2024 FY2025 Results Proportion Results Proportion YOY Results Proportion Results Proportion YOY ■By Sectors（Building Construction） ■By Sectors（Civil Engineering） National Government 10,951 48.9% 3,919
Slide 37: Breakdown of Orders (Non-Consolidated) by Type of Projects
Appendix 8/13 ５．Breakdown of Orders （Non-Consolidated） （million yen） （million yen） FY2024 FY2025 FY2024 FY2025 Results Proportion Results Proportion YOY Results Proportion Results Proportion YOY ■By Type of Projects（Building Construction） ■By Type of Projects（Civil Engineering） Offices 23,787 16.5%
Slide 38: Breakdown of Net Sales (Non-Consolidated) by Sector
Appendix 9/13 ６．Breakdown of Net Sales （Non-Consolidated） (million yen) (million yen) FY2024 FY2025 FY2024 FY2025 Results Proportion Results Proportion YOY Results Proportion Results Proportion YOY ■By Sectors（Building Construction） ■By Sectors（Civil Engineering） National Government 375 3.3% 1,354 9
Slide 39: Breakdown of Net Sales (Non-Consolidated) by Type of Projects
Appendix 10/13 ６．Breakdown of Net Sales （Non-Consolidated） （million yen） （million yen） FY2024 FY2025 FY2024 FY2025 Results Proportion Results Proportion YOY Results Proportion Results Proportion YOY ■By Type of Projects（Building Construction） ■By Type of Projects（Civil Engineering） Offices 13,979 10
Slide 40: Breakdown of Backlog (Non-Consolidated) by Sector
Appendix 11/13 ７．Breakdown of Backlog （Non-Consolidated） (million yen) (million yen) FY2024 FY2025 FY2024 FY2025 Results Proportion Results Proportion YOY Results Proportion Results Proportion YOY ■By Sectors（Building Construction） ■By Sectors（Civil Engineering） National Government 11,577 38.4% 14,1
Slide 41: Breakdown of Backlog (Non-Consolidated) by Type of Projects
Appendix 12/13 ７．Breakdown of Backlogs（Non-Consolidated） （million yen） （million yen） FY2024 FY2025 FY2024 FY2025 Results Proportion Results Proportion YOY Results Proportion Results Proportion YOY ■By Type of Projects（Building Construction） ■By Type of Projects（Civil Engineering） Offices 20,551 13.4
Slide 42: Outlook of Construction Investment
Appendix 13/13 9 Outlook of construction investment based on the construction economy model ⚫ For FY2025, the government sector remained resilient, and the private sector’s non-residential building sector performed steadily, resulting in a slight increase in nominal value compared to the previous fi
Slide 43: MEMO
MEMO © 2026 Asanuma Corporation. 43
Slide 44: Contacts
Contacts Asanuma Corporation Integrated Report 2025 Instagram Corporate Strategy and Planning Headquarters Corporate Communications Division MAIL asanuma_ir@asanuma.co.jp TEL +81-6-6585-5500 https://www.asanuma.co.jp/e/sustainability/integrated_report.html https://www.asanuma.co.jp/e/sustainability/