Kondotec Inc. · TSE:7438
Kondotec — Q2 FY2026 Earnings Presentation
65 slides from Kondotec's earnings presentation, Nov 11, 2025
Slide 1: FY2026 Q2 Financial Results
Tokyo Stock Exchange (Prime Market) Securities Code : 7438 FY2026 Q2 Financial Results November 11, 2025
Slide 2: Contents
Contents 1. Highlights of Q2 FY2026 Financial Results P. 3 2. Company Overview P. 7 3. Main Products and Merchandise P. 18 4. Q2 FY2026 Financial Results and Analysis P. 24 5. Q2 FY2026 Financial Results and Analysis by Segment P. 30 6. Management Strategies P. 40 7. Shareholder Return P. 53 8. High
Slide 3: 1. Highlights of Q2 FY2026 Financial Results
1. Highlights of Q2 FY2026 Financial Results
Slide 4: Summary of Q2 FY2026 Consolidated Financial Results
Summary of Q2 FY2026 Consolidated Financial Results ⚫ Net sales increased due to capturing demand from relatively growing demand field. ⚫ Operating profit and ordinary profit increased due to sales growth and the margin improvement, which absorbed the higher rent and personnel expenses as well as an
Slide 5: Topics in Q2 FY2026 (1): Planned Acquisition of SUZUTOH
Topics in Q2 FY2026 (1) Planned Acquisition of SUZUTOH CO., LTD. in November 2025 ⚫ KONDOTEC decided to make SUZUTOH CO., LTD., a manufacturer and supplier of site hoardings “Safety steel site hoarding”, which are widely used across Japan on construction sites, a subsidiary. SUZUTOH CO., LTD. also s
Slide 6: Topics in Q2 FY2026 (2): Planned Acquisition of RYUKYU BRIDGE
Topics in Q2 FY2026 (2) Planned Acquisition of RYUKYU BRIDGE LTD. in December 2025 ⚫ KONDOTEC decided to make RYUKYU BRIDGE LTD., which is engaged in the development, manufacturing, delivery, and sales of construction materials in house with a robust customer base in Okinawa, a subsidiary. ⚫ By maki
Slide 7: 2. Company Overview
2. Company Overview
Slide 8: Performance Trends
Performance Trends Since establishment in 1953, we have not incurred an ordinary loss as a result of efforts to supply products and merchandise to various industries in response to changes of the times and customer needs. （trillion yen） 80,000 8,000 90 Entered into the scaffolding 70,000 constructio
Slide 9: Company Overview
Company Overview Company name KONDOTEC INC. Sanwa Denzai Co., Ltd. KONDOTEC INTERNATIONAL (THAILAND) CO., LTD. CHUOH GIKEN Co., Ltd. Nippon Scaffolding Holdings Co., Ltd. TECBUILD CO., LTD. Group companies TOKAI STEP CO., LTD. FUKOKU, Ltd. KURIYAMA ALUMINUM Co., Ltd. UEDA CONSTRUCTION CO., LTD. (as
Slide 10: Company History and Business Areas
Company History and Business Areas Company history Business areas January 1953 Established Kondo Shoten Co., Ltd. January 1989 Changed the company name to KONDOTEC INC. Construction industry wholesale Listed on the Second Section of the Osaka Other than April 1995 Field Categorization of merchandise
Slide 11: Sales by Segment (FY2025)
Sales by Segment (FY2025) Industrial Materials Structural Steel Materials Net sales Sales weighting Net sales Sales weighting 37,328 million yen 47 % 21,131 million yen 27 % Customers Hardware stores, Wholesalers, Home improvement centers Customers Steel structure fabricators アンカーボルト Products/ Produ
Slide 12: Distribution Channels
Distribution Channels ⚫ By offering in-house products with added value and sourcing products and merchandise from various suppliers, we have adopted a structure that allows it to meet the diversifying needs of customers. Manufacturer function (in-house production and OEM production) ◆ Suppliers Appr
Slide 13: Segment Overview: Industrial Materials
Segment Overview : Industrial Materials Business The Industrial Materials Segment manufactures, procures, and sells civil engineering and areas construction materials (primarily metal fittings through retail). By selling products and merchandise to a wide range of industries, the segment has built u
Slide 14: Segment Overview: Structural Steel Materials
Segment Overview : Structural Steel Materials Business The Structural Steel Materials Segment manufactures, procures, and sells construction-related areas materials to nationwide steel structure fabricators. High-margin business maintained through supply of high market share products with a high Str
Slide 15: Segment Overview: Electrical Equipment
Segment Overview : Electrical Equipment Business The Electrical Equipment Segment procures and sells electrical equipment to consumer electrical areas appliance stores and electrical construction contractors. The segment generates steady earnings through providing a wide range of merchandise from St
Slide 16: Segment Overview: Scaffolding Construction
Segment Overview : Scaffolding Construction Business The Scaffolding Construction Segment provides scaffolding construction services and procures, areas sells and rents out temporary scaffolding materials to building contractors and medium-sized general contractors Strengths The segment provides a w
Slide 17: Market Size for Main Products and Merchandise
Market Size for Main Products and Merchandise Market size for main products, merchandise and corresponding market shares (FY2025) Market overview and initiatives ◼ Estimated volume of steel frame demand ➢ Market overview JIS certification (1000 tons) The robust demand for large low- Turnbuckle brace
Slide 18: 3. Main Products and Merchandise
3. Main Products and Merchandise
Slide 19: Sales Fields
Sales Fields We supply roughly 50,000 products and merchandise to various industries in response to changes of the times and customer needs. Wind power generation Agriculture and horticulture Railroad and railroad bridge Agriculture and forestry Prefabricated Wooden construction construction Slope C
Slide 20: Turnbuckle Braces
Turnbuckle Braces ⚫ Turnbuckle braces are connected cornerwise to prevent the collapse of buildings exposed to lateral pressure. ⚫ Turnbuckle braces are used as seismic bracing products in prefabricated steel-frame houses and steel constructions such as shopping centers, factories and warehouses. Th
Slide 21: Anchor Bolts
Anchor Bolts ⚫ Anchor bolts are important materials used to connect a building structure to a concrete foundation. Their main purpose is to prevent the building connected to the concrete foundation from tilting and falling over. After construction work アンカーボルト Anchor bolts Anchor frame (Kon-base Eco
Slide 22: Container Bags
Container Bags ⚫ Container bags are used in a wide range of settings such as 1) transportation and storage of feedstuff, fertilizer, plastic pellets, and industrial waste; 2) rubble disposal and decontamination work; and 3) post-disaster reconstruction work (used as large sandbags). 21
Slide 23: Scaffolding Installation
Scaffolding Installation ⚫ Our group provide scaffolding services for various projects – from houses to medium-rise buildings and civil- engineering works such as bridges. Overpass repair Condominium construction 22
Slide 24: 4. Q2 FY2026 Financial Results and Analysis
4. Q2 FY2026 Financial Results and Analysis
Slide 25: Q2 FY2026 Consolidated Financial Results
Q2 FY2026 Consolidated Financial Results (million yen) Q2 Q2 YoY FY2025 FY2026 Amount % Net sales 38,640 40,636 +1,996 +5.2% Gross profit 8,475 9,029 +553 +6.5% SG&A expenses 6,433 6, 860 +427 +6.6% Operating profit 2,042 2,169 +126 +6.2% Ordinary profit 2,157 2,279 +122 +5.7% Profit attributable to
Slide 26: Operating Income Analysis (Consolidated)
Operating Income Analysis (Consolidated) Operating income analysis (million yen) Quarterly GPM Consolidated Parent 93 △341 380 △5 23.7% Impact of acquisition of UEDA CONSTRUCTION 23.0% 23.1% 23.0% 22.8% 2,169 2,042 22.1% 22.9% 22.6% 22.0% 21.9% 21.8% 21.6% Q2 FY2025 Net Sales Gross Profit SG&A Other
Slide 27: Progress for FY2026 Forecast
Q2 FY2026 Consolidated Financial Results Progress for FY2026 Forecast Progress for FY2026 forecast (million yen) Net sales and operating income (million yen) Net sales ■ Q2 FY2026 ■ Full-year forecast Operating income 21,235 Net sales Full-year 20,170 20,465 forecast Progress 19,134 19,505 19,300 40
Slide 28: Consolidated Balance Sheet [Assets]
Consolidated Balance Sheet [Assets] (million yen) FY2025 Q2 FY2026 Change Cash and deposits 15,476 14,648 △828 Notes and receivable-trade, 11,578 11,889 +310 and contract assets Current assets Electronically recorded 4,828 5,502 +673 monetary claims operating Inventories 8,227 8,228 +1 Other 628 805
Slide 29: Consolidated Balance Sheet [Liabilities and Net Assets]
Consolidated Balance Sheet [Liabilities and Net Assets] (million yen) FY2025 Q2 FY2026 Change Notes and accounts payable-trade 4,685 4,855 +170 Electronically recorded obligations-operations 9,648 9,200 △447 Current liabilities Breakdown Electronically recorded obligations–operations 10,933 10,591 △
Slide 30: 5. Q2 FY2026 Financial Results and Analysis by Segment
5. Q2 FY2026 Financial Results and Analysis by Segment
Slide 31: Q2 FY2026 Financial Results by Segment
Q2 FY2026 Financial Results by Segment (million yen) Change Full-year Q2 FY2025 Q2 FY2026 Progress (%) forecast Net sales 18,340 18,876 +2.9% 40,200 47.0% Industrial Materials Segment profit or loss 1,201 1,355 +12.8% 2,629 51.6% EBITDA 1,379 1,532 +11.0% － － Net sales 10,712 10,966 +2.4% 23,270 47.
Slide 32: Industrial Materials
Industrial Materials Net sales and segment profit or loss (million yen) ◼ YoY ◼ Quarterly Net sales Segment profit or loss 9,822 YoY 9,235 9,441 9,434 18,876 9,105 9,165 18,340 +2.9% 1,355 YoY 749 1,201 611 656 590 595 606 +12.8% Q2 FY2025 Q2 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 FY2025 FY2025 FY2025 FY2025 FY20
Slide 33: Industrial Materials: Segment Profit Analysis
Industrial Materials Segment profit or loss analysis (million yen) Quarterly GPM 29.0% 30.0% manufactured 26.7% 26.0% 26.8% in-house Products 17.2% 165 △148 23 126 30.7% △12 merchandise 29.6% 29.5% Imported 28.7% 28.8% 1,355 27.7% 1,201 20.6% 20.5% 20.7% merchandise Domestically 20.3% 20.4% Q2 FY202
Slide 34: Structural Steel Materials
Structural Steel Materials Net sales and segment profit or loss (million yen) ◼ YoY ◼ Quarterly Net sales Segment profit or loss 5,760 5,432 5,418 5,548 YoY 5,280 10,966 10,712 +2.4% 4,658 756 YoY 414 427 394 701 342 △7.3% 306 209 Q2 FY2025 Q2 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 FY2025 FY2025 FY2025 FY2025 FY2
Slide 35: Structural Steel Materials: Segment Profit Analysis
Structural Steel Materials Segment profit or loss analysis (million yen) Quarterly GPM manufactured 27.8% 27.8% 27.7% 26.9% 28.0% in-house Products 23.0% △17 75 △31 △81 35.7% merchandise 34.9% Imported 34.3% 34.4% 33.7% 33.7% 756 702 18.3% 18.3% merchandise Domestically 18.1% 18.2% 18.1% sourced Q2
Slide 36: Electrical Equipment
Electrical Equipment Net sales and segment profit or loss (million yen) ◼ YoY ◼ Quarterly Net sales Segment profit or loss 3,164 3,068 6,233 YoY 2,864 2,919 2,845 2,706 +12.3% 5,551 130 127 129 257 YoY 108 111 171 +50.3% 62 Q2 FY2025 Q2 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 FY2025 FY2025 FY2025 FY2025 FY2026 FY2
Slide 37: Electrical Equipment: Segment Profit Analysis
Electrical Equipment Segment profit or loss analysis (million yen) Quarterly GPM and the number of projects 17.3% 17.0% Gross Profit Margin 9 16.7% △35 16.2% 16.1% 16.2% 112 Q1 Q2 Q3 Q4 Q1 Q2 FY2025 FY2025 FY2025 FY2025 FY2026 FY2026 257 171 28 28 The number of projects※ 22 20 17 17 Q2 FY2025 Net Sa
Slide 38: Scaffolding Construction
Scaffolding Construction Net sales and segment profit or loss (million yen) ◼ YoY ◼ Quarterly Net sales Segment profit or loss 2,788 4,560 YoY 2,557 4,034 2,414 +13.0% 2,122 2,145 1,912 209 100 11 6 △62 △116 △73 △123 Q2 FY2025 Q2 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 FY2025 FY2025 FY2025 FY2025 FY2026 FY2026 Fac
Slide 39: Scaffolding Construction: Segment Profit Analysis
Scaffolding Construction Segment profit or loss analysis (million yen) Sales fluctuations by service type (million yen) Q2 FY2025 Q2 FY2026 Construction sales 2,340 △35 1,951 △ 62 69 1,266 1,315 △116 △ 81 359 395 362 278 229 95 Detached Large properties Bridges/ Rental sales Material sales Impact of
Slide 40: 6. Management Strategies
6. Management Strategies
Slide 41: Materiality
Materiality ⚫ In engaging in corporate activities, we recognize that management that takes social sustainability into consideration leads to the sustainable growth. ⚫ We have identified our materiality and link it to sustainable corporate growth by incorporating it in the management strategy. Materi
Slide 42: Towards Achieving Billion Yen Sales Target
Towards Achieving 100 Billion Yen Sales Target ⚫ We target consolidated sales of 100 billion yen in the 2020s by strengthening the earnings capability of existing core businesses and expanding into fields with growth prospects. M&A strategies 100 billion yen Accelerate growth with current KONDOTEC (
Slide 43: Cultivation of New Customers
Organic Growth Cultivation of New Customers ⚫ We achieve a monthly average of one new customer per sales representative. In addition, we exploit a yearly average of 10 dormant customers per sales representative. These activities from the source for 20,000 sales customers. ⚫ We are working to expand
Slide 44: Offer of New Products and Merchandise/Diversifying Sales Methods
Organic Growth Offer of New Products and Merchandise/Diversifying Sales Methods and Services Offer of new products and merchandise Diversifying sales methods and services ⚫ For the purpose of developing new merchandise, joint New ◼ Launch of website, “Tsurikata” for lifting Products and Merchandise
Slide 45: Expansion of Operating Sites
Organic Growth Expansion of Operating Sites ⚫ We strive for expansion of operating sites which maintained a local-community-oriented sales structures in order to respond quickly to customer needs. Recently, we have opened the Hokuriku Office and established Environment & Energy Group in April 2025.
Slide 46: Response to Natural Disasters
Organic Growth Response to Natural Disasters Response to “New stage” published by Response to natural disasters Ministry of Land, Infrastructure, Transport and Tourism ⚫ We have established a structure that allows it to rapidly ⚫ The Ministry of Land, Infrastructure, Transport and Tourism has respon
Slide 47: Increasing Presence in Foreign Markets
Periphery-Strengthening Growth Increasing Presence in Foreign Markets ⚫ Based on our view that increasing presence in foreign markets where growth is expected will contribute to enhancing our earning capability, we established a subsidiary in Thailand in November 2012. We executed a capital increase
Slide 48: M&A Strategy
Toward Accelerating Organic Growth Strategies and Periphery-Strengthening Growth Strategies M&A Strategy (Corporate Acquisitions and Capital/Business Tie-Ups ) ⚫ We view that pursuing corporate acquisitions and capital/business tie-ups is an important strategy to strengthen our business platform. Fo
Slide 49: Business Activities Paying Attention to the Environment
Business Activities Paying Attention to the Environment Provision of optimal products and merchandise for Initiatives for reducing environmental burdens environment measures ◼ Box wall ◼ Acquisition of ISO14001 This is a cost-effective flood prevention system that can We obtained ISO14001 certificat
Slide 50: Enhancement of human capital
Enhancement of human capital ⚫ We view that developing and securing diverse human resources as the core pillar of our management policy to pursue human capital management. Diversity indicators and targets Support for athletes ⚫ Based on our recognition of the need to ensure diversity, We have been s
Slide 51: Initiatives for Enhancing Employees' Motivation
Initiatives Initiatives for Enhancing Employees’ Motivation ⚫ We have introduced an employee restricted stock program. By issuing shares as an incentive to employees, we encourage employees to boost their motivation and morale toward enhancing performance. ⚫ We target DOE of at least 4.0% and looks
Slide 52: Strengthening of Corporate Governance
Initiatives Strengthening of Corporate Governance ⚫ KONDOTEC recognizes that strengthening and enhancing corporate governance through increasing soundness, transparency and efficiency of management and maximizing corporate value is one of the most important management objectives. KONDOTEC has introd
Slide 53: 7. Shareholder Return
7. Shareholder Return
Slide 54: Dividends and Shareholder Incentive Plan
Dividends and Shareholder Incentive Plan ⚫ We target ROE of 10% or more and DOE of 4.0% or more with the aim of continuing to increase dividends. Transition in dividends Shareholder incentive plan Since initial listing: No decrease in dividends ⚫ Shareholders can redeem reward points for over 4,000
Slide 55: Transition of Stock Price
Transition of Stock Price Transition of stock price (as of October 31, 2025) Ranking among listed companies Stock price (after stock split) Nikkei average stock price Among 4,030 listed companies … KONDOTEC stock price (yen) Nikkei average stock price (yen) 1,800 54,000 Highest stock price 1,743 yen
Slide 56: 8. Highlights of Results
8. Highlights of Results
Slide 57: Highlights of Consolidated Financial Results
Highlights of Consolidated Financial Results 40,636 2,169 Progress Progress Net sales Operating profit (million yen) million yen 47.8% (million yen) million yen 47.2% 85,000 4,673 4,600 79,175 4,465 75,447 76,873 4,355 4,085 3,907 66,139 3,516 3,537 3,594 60,599 59,562 3,441 3,354 57,828 52,811 50,2
Slide 58: Highlights of Consolidated Financial Results
Highlights of Consolidated Financial Results 39,287 Net assets (million yen) million yen ROE (%) Target 10 % or more 38,350 39,287 35,920 33,285 11.4 32,066 10.8 10.9 10.7 10.7 10.4 10% or more 29,022 10.0 28,387 26,756 9.3 24,745 22,719 7.7 7.9 21,102 5.4 16/3 17/3 18/3 19/3 20/3 21/3 22/3 23/3 24/
Slide 59: Highlights of Consolidated Financial Results
Highlights of Consolidated Financial Results 16/3 17/3 18/3 19/3 20/3 21/3 22/3 23/3 24/3 25/3 26/3 Q2 26/3 (forecast) Result of Operations (million yen) Net sales 50,211 50,410 52,811 57,828 60,599 59,562 66,139 75,447 76,873 79,175 40,636 85,000 Operating profit 3,441 3,516 3,537 3,907 4,085 3,354
Slide 60: Quarterly Highlights
Quarterly Highlights Consolidated Net sales (million yen) 21,235 20,137 20,042 20,170 20,465 19,193 19,080 19,102 18,965 19,134 19,505 19,300 18,762 17,862 16,971 17,036 16,326 14,978 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 22/3 23/3 24/3 25/3 26/3 Operating income (million yen)
Slide 61: Quarterly Highlights: Industrial Materials
Quarterly Highlights Industrial Materials Net sales (million yen) 10,075 9,822 9,655 9,732 9,237 9,288 9,256 9,234 9,235 9,165 9,441 9,434 8,965 9,105 8,692 8,591 7,826 8,104 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 22/3 23/3 24/3 25/3 26/3 Segment profit or loss (million yen) 781
Slide 62: Quarterly Highlights: Structural Steel Materials
Quarterly Highlights Structural Steel Materials Net sales (million yen) 5,760 5,396 5,453 5,517 5,432 5,418 5,548 5,244 5,280 5,019 4,876 4,847 4,658 4,328 4,475 4,299 3,954 3,516 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 22/3 23/3 24/3 25/3 26/3 Segment profit or loss (million yen
Slide 63: Quarterly Highlights: Electrical Equipment
Quarterly Highlights Electrical Equipment Net sales (million yen) 3,164 3,068 2,845 2,864 2,919 2,716 2,706 2,467 2,441 2,478 2,512 2,323 2,370 2,401 2,226 2,223 2,126 1,933 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 22/3 23/3 24/3 25/3 26/3 Segment profit or loss (million yen) 130
Slide 64: Quarterly Highlights: Scaffolding Construction
Quarterly Highlights Scaffolding Construction Net sales (million yen) 2,788 2,504 2,557 2,414 2,205 2,280 2,198 2,138 2,145 2,070 2,085 2,122 2,001 1,923 1,912 1,795 1,746 1,702 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 22/3 23/3 24/3 25/3 26/3 Segment profit or loss (million yen)
Slide 65: Official SNS accounts and contact
Official SNS accounts KONDTEC opened official Instagram and Facebook accounts. Please follow us to get to know us better and for information and updates on our products and merchandise. Instagram 2-2-90 Sakaigawa, Nishi-ku, Osaka URL：https://www.instagram.com/kondotec_official/ 550-0024 Japan Teleph