Air Water Inc. TSE:4088

Air Water : Notice Regarding Revision of Full-Year Financial Forecast

Published

Source: MarketScreener

Note: 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.

To All Concerned Parties

Company Name

Air Water Inc.

February 13, 2026

Representative President and

Representative Director

Ryosuke

Matsubayashi

（Code Number 4088 Tokyo Stock Exchange Prime Market, Sapporo Stock Exchange Market）

Contact General Manager of Corporate Communications Office

Keisuke Fukushima

（TEL 06-6252-3966）

Notice Regarding Revision of Full-Year Financial Forecast

We hereby announce that we have decided to revise the full-year financial forecast for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026), which was previously disclosed on May 13, 2025, as described below.

  1. Revision of Financial Forecast Figures (from April 1, 2025 to March 31, 2026)

    Revenue

    Operating profit

    Profit

    before tax

    Profit

    attributable to owners of parent

    Basic earnings per share

    Original forecast（A）

    (Announced on May 13, 2025)

    Million yen 1,150,000

    Million yen

    84,000

    Million yen

    81,000

    Million yen

    53,000

    Yen 231.28

    Revised forecast（B）

    1,150,000

    14,000

    0

    △10,000

    △43.52

    Amount of change

    (B) - (A)

    0

    △70,000

    △81,000

    △63,000

    -

    Percentage change

    0.0

    △83.3

    △100.0

    -

    -

    （%）

    ［Reference］Results

    for the fiscal year ended March 31,2025

    1,061,124

    61,284

    59,772

    37,707

    164.87

  2. Reasons for the revision

As announced in our press release dated October 9, 2025, titled "Notice Regarding the Establishment of a Special Investigating Committee," we have identified improper accounting practices within our corporate group. In response to this situation, we established a Special Investigation Committee composed of external experts on October 9, 2025, and have been conducting an investigation. In addition, with the aim of restoring trust in the Group as a whole and preventing any recurrence, we are implementing voluntary inspection procedures covering the Company and its consolidated subsidiaries, including comprehensive reviews such as physical inventory counts and financial analyses. We are also re-evaluating our internal control systems, which includes re-examining financial figures and accounting treatments.

  1. Impact of Impairment Losses on Goodwill and Other Assets

    Based primarily on overseas businesses, we identified indicators of impairment at an early stage by assessing business progress and future profitability prospects. As a result of examining the recoverability of property, plant and equipment, goodwill, and intangible assets, we have reflected the impact of impairment losses, mainly related to goodwill.

    (Fiscal Year 2025 Impact Amount: Operating profit: JPY △37,800 million)

  2. Expenses Related to Investigations and Other Matters

    We expect to record expenses related to the operation of the Special Investigation Committee, fees for external experts (including attorneys and certified public accountants), additional audit-related costs, and expenses associated with physical inventory counts and other related activities.

    (Fiscal Year 2025 Impact Amount: Operating profit: JPY △13,500 million)

  3. Impact of Business Withdrawals and Other Actions Resulting from the Review of Business Strategy

    As we continue to review our business portfolio, we reassessed our business strategies in response to changes in the business environment. As a result, we have reflected the impact of the withdrawal from the overseas cryogenic equipment business, as well as losses related to investments and other activities in overseas hydrogen-related businesses.

    (Fiscal Year 2025 Impact Amount: Operating profit: JPY △6,600 million; Profit before income taxes: JPY △12,000 million)

  4. Optimization of Inventory Valuation In connection with voluntary internal inspections, we reviewed the valuation of inventories and reflected the resulting impact.

(Fiscal Year 2025 - Impact Amount: Operating profit: JPY △3,700 million)

The above-mentioned investigations, inspections, and re-evaluations are ongoing, and additional corrective items may be identified as the investigations progress and audit procedures are carried out. Should any material changes arise in the earnings forecast, we will promptly disclose such changes.

Please note that there has been no change to the dividend forecast from the previously announced forecast.

END