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.
Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (Under Japanese GAAP)
May 13, 2026
Company name: DaikyoNishikawa Corporation Listing: Tokyo Stock Exchange
Securities code: 4246
URL: https://www.daikyonishikawa.co.jp/en/
Representative: Ikuo Sugiyama Representative Director and President
Manager
Inquiries: Katsumi Yamada Managing Executive Officer and Corporate Planning Division
Telephone: +81-82-493-5610
Scheduled date of annual general meeting of shareholders: June 19, 2026 Scheduled date to commence dividend payments: June 22, 2026
Scheduled date to file annual securities report: June 18, 2026 Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes
(Yen amounts are rounded down to millions, unless otherwise noted.)
-
Consolidated financial results for the fiscal year ended March 31, 2026 (from April 1, 2025 to March 31, 2026)
-
Consolidated operating results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Fiscal year ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
March 31, 2026
165,706
(1.7)
10,251
2.5
10,709
10.5
8,661
33.3
March 31, 2025
168,561
6.0
10,004
15.1
9,688
10.4
6,498
12.4
Note: Comprehensive income
For the fiscal year ended March 31, 2026:
¥
9,568 million [
3.3%]
For the fiscal year ended March 31, 2025:
¥
9,261 million [
33.5%]
Basic earnings per share
Diluted earnings per share
Rate of return on equity
Ordinary profit to total assets ratio
Operating profit to net sales ratio
Fiscal year ended
Yen
Yen
%
%
%
March 31, 2026
126.29
-
9.8
6.8
6.2
March 31, 2025
91.36
-
7.7
6.1
5.9
Reference: Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2026:
¥
6 million
For the fiscal year ended March 31, 2025:
¥
36 million
-
Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
Net assets per share
As of
Millions of yen
Millions of yen
%
Yen
March 31, 2026
158,633
90,332
55.9
1,346.42
March 31, 2025
154,554
89,949
56.5
1,227.65
Reference: Equity
As of March 31, 2026:
¥
88,679 million
As of March 31, 2025:
¥
87,337 million
- Consolidated cash flows
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at end of period
Fiscal year ended
Millions of yen
Millions of yen
Millions of yen
Millions of yen
March 31, 2026
17,627
(4,943)
(2,734)
34,027
March 31, 2025
16,783
(7,582)
(18,348)
23,999
-
Consolidated operating results (Percentages indicate year-on-year changes.)
-
Cash dividends
Annual dividends per share
Total cash dividends (Total)
Payout ratio (Consolidated)
Ratio of dividends to net assets (Consolidated)
First quarter-end
Second quarter-end
Third quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Millions of yen
%
%
Fiscal year ended
-
17.00
-
19.00
36.00
2,561
39.4
3.0
March 31, 2025
Fiscal year ended
-
19.00
-
33.00
52.00
3,470
41.2
4.0
March 31, 2026
Fiscal year ending March 31, 2027
(Forecast)
-
28.00
-
29.00
57.00
40.8
The calculation of the dividend payout ratio (consolidated) for the fiscal year ending March 31, 2027 (forecast) does not include the impact of the acquisition of treasury stock resolved at the Board of Directors' meeting held on May 13, 2026.
- Consolidated financial result forecasts for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen | |
Six months ending September 30, 2026 | 81,300 | (0.5) | 4,600 | (4.9) | 4,500 | (14.1) | 3,300 | (15.3) | 50.10 |
Full year | 161,800 | (2.4) | 8,800 | (14.2) | 8,700 | (18.8) | 9,200 | 6.2 | 139.68 |
The calculation of basic earnings per share does not include the impact of the acquisition of treasury stock resolved at the Board of Directors' meeting held on May 13, 2026.
* Notes | ||
(1) Significant changes in the scope of consolidation during the period: Newly included: - companies( | Yes | ) |
Excluded: 1 companies( DMS Tech Co.,Ltd. | ) | |
Changes in accounting policies, changes in accounting estimates, and restatement
Changes in accounting policies due to revisions to accounting standards and other regulations: None
Changes in accounting policies due to other reasons: None
Changes in accounting estimates: None
Restatement: None
Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2026
70,997,800
shares
As of March 31, 2025
73,896,400
shares
Number of treasury shares at the end of the period
As of March 31, 2026
5,134,934
shares
As of March 31, 2025
2,754,608
shares
Average number of shares outstanding during the period
Fiscal Year ended March 31, 2026 | 68,585,562 | shares |
Fiscal Year ended March 31, 2025 | 71,130,373 | shares |
-
Non-consolidated operating results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit
Fiscal year ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
March 31, 2026
103,160
(4.5)
2,751
(54.7)
6,509
(25.6)
5,587
(16.9)
March 31, 2025
108,070
0.6
6,072
45.1
8,749
(18.4)
6,727
(32.6)
Basic earnings per share
Diluted earnings per share
Fiscal year ended
Yen
Yen
March 31, 2026
81.46
-
March 31, 2025
94.57
-
- Non-consolidated financial position
Total assets | Net assets | Equity-to-asset ratio | Net assets per share | |
As of | Millions of yen | Millions of yen | % | Yen |
March 31, 2026 | 110,034 | 68,933 | 62.6 | 1,046.62 |
March 31, 2025 | 102,205 | 69,887 | 68.4 | 982.36 |
Reference: Equity
As of March 31, 2026: | ¥ | 68,933 million |
As of March 31, 2025: | ¥ | 69,887 million |
*This financial results report is not subject to audit by certified public accountants or audit firm.
*Proper use of earnings forecasts, and other special matters (Caution concerning forward-looking statements)
The earnings forecasts and other descriptions of the future presented in this report are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Actual results may differ substantially due to various factors.
(Supplementary materials for financial results)
Supplementary materials will be posted on our website later.
- Attachment Table of Contents
Overview of Operating Results 2
Overview of Operating Results for the Fiscal Year under Review 2
Overview of Financial Position for the Fiscal Year under Review 3
Overview of Cash Flows for the Fiscal Year under Review 3
Future Outlook 4
Basic Rationale for the Selection of Accounting Standards 4
Consolidated Financial Statements and Primary Notes 5
Consolidated Balance Sheet 5
Consolidated Statements of Income and Comprehensive Income 7
Consolidated Statement of Income 7
Consolidated Statement of Comprehensive Income 8
Consolidated Statement of Changes in Equity 9
Consolidated Statement of Cash Flows 11
Notes for Consolidated Financial Statements 13
(Notes on Going Concern Assumption) 13
(Changes in Presentation Method) 13
(Segment Informations) 14
(Information on Amounts Per Share of Common Stock) 17
(Significant Subsequent Events) 18
1
Overview of Operating Results
Overview of Operating Results for the Fiscal Year under Review
During the consolidated fiscal year under review (April 1, 2025 to March 31, 2026), the outlook for the global economy became increasingly uncertain against the backdrop of heightened geopolitical risks, such as rising tensions in the Middle East, in addition to the impact of U.S. tariff policies and exchange rate fluctuations, including the depreciation of the yen.
In the automotive industry, while the shift to BEVs is positioned as a medium - to long-term trend, demand growth is currently slowing down. The business environment is growing more complex in each region, including environmental regulations in Europe and intensifying competition due to the rapid progress of Chinese OEM, and global business operations require a flexible response capability based on policy trends and market characteristics.
In this environment, the Group is promoting initiatives with the two wheels of "product-led growth" and "management structure transformation" in accordance with the medium-term management plan. To achieve "product-led growth," we are steadily promoting our efforts in the areas of "environmental responsiveness," "weight reduction," "functional enhancement," and "strengthening cost competitiveness" as areas where we should focus our efforts. In addition, to "transform our management structure," we are continuously improving the efficiency of facilities and reducing energy consumption by eliminating waste and improving work efficiency through process improvements and standardization of business processes. Furthermore, we are working to improve profitability by strengthening cost competitiveness through Monozukuri reforms that integrate design, procurement, and production.
For the fiscal year ended March 31, 2026, net sales decreased by 2.855 billion (1.7%) year on year to 165.706 billion due to a decrease in production volume in Japan, Mexico, and Thailand, despite an increase in customer production volume in the United States and an increase due to new orders for exterior parts. Operating profit increased by 246 million (2.5%) year on year, to 10.251 billion, despite the impact of decreased sales, due to the effect of increased sales in the United States, the results of thorough cost improvement activities at each company, and the foreign exchange impact resulting from the appreciation of the peso in Mexico. Ordinary profit increased by 1.021 billion (10.5%) year on year to 10.709 billion due to the recording of foreign exchange gains. Profit attributable to owners of parent increased by 2.162 billion, or 33.3%, to 8.661 billion.
Results by business segment are as follows. (Japan)
In Japan, despite an increase in sales of new products, sales decreased by 5.06 billion (4.6%) year on year to 103.795 billion due to a decrease in production volume of major customers and a decrease in sales of tools. Segment profit (operating profit) decreased by 3.367 billion (49.5%) year on year to 3.429 billion due to the impact of decreased sales, mass production preparation expenses for new products, and differences in retirement benefit actuarial calculations, despite the steady results of cost improvement activities.
(North America)
In North America, net sales increased by 535 million (1.2%) year on year to 46.872 billion due to an increase in production volume by customers in the United States and new orders for exterior parts, despite a decrease in production volume by customers in Mexico. Segment profit (operating profit) increased by 2.649 billion (89.6%) year on year, to 5.607 billion, due to the effect of increased sales in the United States and the foreign exchange impact resulting from the appreciation of the peso in Mexico.
(ASEAN)
In ASEAN, net sales decreased by 55 million (0.5%) year on year to 10.988 billion as a result of sluggish production at Japanese OEMs in Thailand due to the impact of government policies, including subsidies centered on BEVs, despite an increase in customer production volume in Indonesia. Segment profit (operating profit) increased by 2 million (0.5%) year on year to 546 million due to a decrease in development expenses and the effect of increased sales in Indonesia.
(China, Korea)
In China and South Korea, net sales decreased by 769,000,000 (8.4%) year on year to 8,415,000,000 due to a decrease in sales of tools in China and the impact of translation into Japanese yen, despite the acquisition of new sales in the design business in the home appliance domain in South Korea. Segment profit (Operating profit) was 77 million yen (loss of 98 million yen in the same period of the previous fiscal year) due to cost improvements mainly in quality measures, despite the impact of lower sales of tools.
Overview of Financial Position for the Fiscal Year under Review
Total assets for the fiscal year under review increased by 4.078 billion (2.6%) compared with the end of the previous fiscal year, to 158.633 billion. This was mainly due to an increase in cash and deposits, despite decreases in construction in progress and buildings and structures.
Liabilities increased by 3.694 billion (5.7%) compared with the end of the previous fiscal year, to 68.3 billion. This was mainly due to an increase in long-term borrowings, despite a decrease in notes and accounts payable - trade.
Net assets increased by 383 million (0.4%) compared with the end of the previous fiscal year, to 90.332 billion. This was mainly due to an increase in retained earnings, despite decreases in capital surplus and non-controlling interests. As a result, net assets per share increased by 118.77 from the end of the previous fiscal year to 1346.42 and the equity ratio decreased by 0.6 percentage points from 56.5% to 55.9%.
Overview of Cash Flows for the Fiscal Year under Review
Cash and cash equivalents at the end of the fiscal year under review increased by 10.027 billion (41.8%) from the end of the previous fiscal year to 34.027 billion.
①Net cash provided by operating activities
Net cash provided by operating activities was 17.627 billion yen (16.783 billion yen provided in the previous fiscal year). This was mainly due to depreciation of 10.762 billion yen and profit before income taxes of 10.556 billion yen, while income taxes paid amounted to 2.553 billion yen.
②Cash flow from investing activities
Net cash used in investing activities was 4.943 billion yen (7.582 billion yen used in the previous fiscal year). This was mainly due to purchase of property, plant and equipment of 7.629 billion yen and purchase of intangible assets of 1.808 billion yen, while there was proceeds from net increase (decrease) in time deposits of 4.54 billion yen.
③Cash flow from financing activities
Net cash used in financing activities was 2.734 billion yen (18.348 billion yen used in the previous fiscal year). The main factors were repayments of long-term borrowings of 4.922 billion yen, purchase of treasury shares of 4.034 billion yen, and dividends paid of 2.648 billion yen, while there were proceeds from long-term borrowings of 11 billion yen.
Reference: Trend of cash flow indicators
Year ended March 2022
Year ended March 2023
Year ended March 2024
Year ended March 2025
Year ended March 2026
Shareholders' equity ratio
(％)
47.5
46.4
50.1
56.5
55.9
Shareholders' equity ratio on market value basis
(％)
24.6
28.1
34.0
27.5
34.4
Interest-bearing debt to cash flow ratio
(years)
12.4
3.2
2.0
1.6
1.9
Interest coverage ratio
(times)
8.3
12.5
13.9
12.3
22.6
Shareholders' equity ratio: Shareholders' equity / Total assets
Shareholders' equity ratio on market value basis: Market capitalization / Total assets Interest-bearing debt to cash flow ratio: Interest-bearing debt / Cash flow
Interest coverage ratio: Cash flow / Interest payments
Notes: 1. All indicators are calculated on a consolidated basis.
Market capitalization is based on the year-end share price multiplied by the number of shares issued and outstanding at year-end (after deducting treasury shares).
Cash flow is based on the cash flows from operating activities in the Consolidated Statements of Cash Flows.
Interest -bearing debt covers all interest-bearing debt in the Consolidated Balance Sheets. Interest payments are based on the amount shown in the Consolidated Statements of Cash Flows.
Future Outlook
With regard to the business performance in the next fiscal year, there are uncertainties that could affect the Group's business performance, such as the procurement environment for raw materials, including resin materials and paints, and production trends of customers, in addition to the instability of global crude oil procurement amid the continuing tension in the Middle East. Of these, factors that can be grasped at this time, such as requests from suppliers to raise prices due to the unstable situation in the Middle East, have been incorporated into the earnings forecast based on the assumptions established by the Company. On the other hand, the Group does not reflect the impact of factors for which it is difficult to make a reasonable projection of future conditions in its earnings forecasts, and if these risks materialize, the Group's earnings could be affected.
Under these circumstances, for the next fiscal year, we forecast consolidated net sales of 161.8 billion yen (down 2.4% year on year), operating profit of 8.8 billion yen (down 14.2% year on year), ordinary profit of 8.7 billion yen (down 18.8% year on year), and profit attributable to owners of parent of 9.2 billion yen (up 6.2% year on year). Reflecting recent trends in customer production and foreign exchange rates, as well as increases in raw material costs and mass production preparation expenses associated with new product orders, both net sales and profits are expected to decline at the ordinary profit level. On the other hand, profit attributable to owners of parent is expected to increase due to a review of the recoverability of deferred tax assets on the premise of the next fiscal year's results of the U.S. subsidiary.
The Group will continue to eliminate waste by improving processes and reviewing business processes. We will also strive to improve our business performance in a sustainable manner while responding to changes in the business environment by strengthening our cost competitiveness and improving profitability.
Basic Rationale for the Selection of Accounting Standards
We have adopted the accounting principles generally accepted in Japan (Japanese GAAP).
With regard to future accounting standards, we will compare and examine accounting standards that we believe are useful as a means for investors to make decisions based on the status of application of the systems in our country.
Consolidated Financial Statements and Primary Notes
Consolidated Balance Sheet
(Millions of yen)
As of March 31, 2025 As of March 31, 2026
Assets
Current assets
Cash and deposits 30,922 37,122
Electronically recorded monetary claims - operating | 2,666 | 2,586 |
Accounts receivable - trade | 28,093 | 28,707 |
Contract assets | 751 | 389 |
Merchandise and finished goods | 2,443 | 1,605 |
Work in process | 1,163 | 1,680 |
Raw materials and supplies | 4,639 | 4,615 |
Accounts receivable - other | 281 | 178 |
Other | 2,175 | 3,215 |
Allowance for doubtful accounts | (41) | (94) |
Total current assets | 73,097 | 80,006 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 29,499 | 27,983 |
Machinery, equipment and vehicles, net | 22,978 | 21,755 |
Tools, furniture and fixtures, net | 2,443 | 2,717 |
Land | 12,367 | 12,394 |
Leased assets, net | 2,661 | 3,378 |
Construction in progress | 5,893 | 4,118 |
Total property, plant and equipment | 75,843 | 72,348 |
Intangible assets | 1,555 | 3,180 |
Investments and other assets | ||
Investment securities | 1,480 | 1,592 |
Deferred tax assets | 1,077 | 571 |
Retirement benefit asset | 28 | 74 |
Other | 1,472 | 858 |
Total investments and other assets | 4,058 | 3,097 |
Total non-current assets | 81,457 | 78,626 |
Total assets | 154,554 | 158,633 |
(Millions of yen)
As of March 31, 2025 As of March 31, 2026
Liabilities
Current liabilities
Electronically recorded obligations - operating | 180 | 339 |
Notes and accounts payable - trade | 23,232 | 21,294 |
Short-term borrowings | 1,550 | 1,571 |
Current portion of long-term borrowings | 5,052 | 6,611 |
Lease liabilities | 1,589 | 2,229 |
Accounts payable - other | 4,614 | 4,277 |
Accrued expenses | 1,444 | 1,412 |
Income taxes payable | 959 | 283 |
Contract liabilities | 772 | 1,069 |
Provision for bonuses | 2,241 | 2,637 |
Provision for product warranties | 52 | 50 |
Notes payable - facilities | 24 | 5 |
Electronically recorded obligations - facilities | 47 | 97 |
Other | 1,270 | 1,346 |
Total current liabilities | 43,031 | 43,225 |
Non-current liabilities | ||
Long-term borrowings | 18,106 | 22,348 |
Lease liabilities | 724 | 847 |
Retirement benefit liability | 1,894 | 974 |
Provision for retirement benefits for directors (and other officers) | 2 | 4 |
Provision for share-based payments | 3 | 4 |
Asset retirement obligations | 170 | 174 |
Deferred tax liabilities | 121 | 204 |
Other | 551 | 516 |
Total non-current liabilities | 21,573 | 25,074 |
Total liabilities | 64,605 | 68,300 |
Net assets | ||
Shareholders' equity | ||
Share capital | 5,426 | 5,426 |
Capital surplus | 10,573 | 7,424 |
Retained earnings | 65,302 | 69,946 |
Treasury shares | (3,996) | (4,819) |
Total shareholders' equity | 77,306 | 77,977 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 21 | 74 |
Foreign currency translation adjustment | 9,944 | 10,044 |
Remeasurements of defined benefit plans | 65 | 583 |
Total accumulated other comprehensive income | 10,031 | 10,701 |
Non-controlling interests | 2,611 | 1,653 |
Total net assets | 89,949 | 90,332 |
Total liabilities and net assets | 154,554 | 158,633 |
Consolidated Statements of Income and Comprehensive Income
Consolidated Statement of Income
(Millions of yen)
For the fiscal year
For the fiscal year
ended March 31, 2025
ended March 31, 2026
Net sales
168,561
165,706
Cost of sales
146,186
143,043
Gross profit
22,375
22,662
Selling, general and administrative expenses
Packing and transportation costs
2,025
2,057
Salaries and allowances
2,564
2,617
Provision for bonuses
223
273
Provision of allowance for doubtful accounts
39
0
Retirement benefit expenses
(30)
103
Provision for retirement benefits for directors (and other officers)
1
1
Research and development expenses
1,266
1,148
Other
6,280
6,208
Total selling, general and administrative expenses
12,370
12,411
Operating profit
10,004
10,251
Non-operating income
Interest income
394
412
Dividend income
43
40
Share of profit of entities accounted for using equity
method
36
6
Revenue of development discontinuation
1,677
78
Subsidy income
51
187
Foreign exchange gains
-
552
Other
188
182
Total non-operating income
2,391
1,459
Non-operating expenses
Interest expenses
1,374
789
Expense of compensation for development discontinuation
902
0
Foreign exchange losses
386
-
Other
44
210
Total non-operating expenses
2,707
1,000
Ordinary profit
9,688
10,709
Extraordinary income
Gain on sale of non-current assets
10
4
Total extraordinary income
10
4
Extraordinary losses
Loss on sale and retirement of non-current assets
62
158
Impairment losses
93
-
Total extraordinary losses
155
158
Profit before income taxes
9,543
10,556
Income taxes - current
2,791
1,339
Income taxes - deferred
173
322
Total income taxes
2,964
1,661
Profit
6,578
8,895
Profit attributable to non-controlling interests
80
233
Profit attributable to owners of parent
6,498
8,661
Consolidated Statement of Comprehensive Income
(Millions of yen)
For the fiscal year
For the fiscal year
ended March 31, 2025
ended March 31, 2026
Profit
6,578
8,895
Other comprehensive income
Valuation difference on available-for-sale securities
(400)
53
Foreign currency translation adjustment
3,497
74
Remeasurements of defined benefit plans, net of tax
(450)
517
Share of other comprehensive income of entities
accounted for using equity method
36
28
Total other comprehensive income
2,682
673
Comprehensive income
9,261
9,568
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
9,036 9,331
Comprehensive income attributable to non-controlling interests
224
236
Consolidated Statement of Changes in Equity
For the fiscal year ended March 31, 2025
(Millions of yen)
Shareholders' equity | Accumulated other comprehensive income | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | Valuation difference on available-for-sale securities | |
Balance at beginning of period | 5,426 | 10,620 | 61,222 | (4,050) | 73,218 | 421 |
Changes during period | ||||||
Dividends of surplus | (2,418) | (2,418) | ||||
Profit attributable to owners of parent | 6,498 | 6,498 | ||||
Purchase of treasury shares | (0) | (0) | ||||
Disposal of treasury shares | (28) | 53 | 25 | |||
Cancellation of treasury shares | - | |||||
Change in ownership interest of parent due to transactions with non-controlling interests | (17) | (17) | ||||
Net changes in items other than shareholders' equity | (400) | |||||
Total changes during period | - | (46) | 4,080 | 53 | 4,087 | (400) |
Balance at end of period | 5,426 | 10,573 | 65,302 | (3,996) | 77,306 | 21 |
Accumulated other comprehensive income | Non-controlling interests | Total net assets | |||
Foreign currency translation adjustment | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | |||
Balance at beginning of period | 6,558 | 512 | 7,492 | 2,542 | 83,254 |
Changes during period | |||||
Dividends of surplus | (2,418) | ||||
Profit attributable to owners of parent | 6,498 | ||||
Purchase of treasury shares | (0) | ||||
Disposal of treasury shares | 25 | ||||
Cancellation of treasury shares | - | ||||
Change in ownership interest of parent due to transactions with non-controlling interests | (17) | ||||
Net changes in items other than shareholders' equity | 3,386 | (447) | 2,538 | 69 | 2,607 |
Total changes during period | 3,386 | (447) | 2,538 | 69 | 6,695 |
Balance at end of period | 9,944 | 65 | 10,031 | 2,611 | 89,949 |
For the fiscal year ended March 31, 2026
(Millions of yen)
Shareholders' equity | Accumulated other comprehensive income | |||||
Share capital | Capital surplus | Retained earnings | Treasury shares | Total shareholders' equity | Valuation difference on available-for-sale securities | |
Balance at beginning of period | 5,426 | 10,573 | 65,302 | (3,996) | 77,306 | 21 |
Changes during period | ||||||
Dividends of surplus | (2,649) | (2,649) | ||||
Profit attributable to owners of parent | 8,661 | 8,661 | ||||
Purchase of treasury shares | (4,034) | (4,034) | ||||
Disposal of treasury shares | (21) | (28) | 138 | 89 | ||
Cancellation of treasury shares | (1,732) | (1,340) | 3,072 | - | ||
Change in ownership interest of parent due to transactions with non-controlling interests | (1,395) | (1,395) | ||||
Net changes in items other than shareholders' equity | 53 | |||||
Total changes during period | - | (3,149) | 4,643 | (823) | 671 | 53 |
Balance at end of period | 5,426 | 7,424 | 69,946 | (4,819) | 77,977 | 74 |
Accumulated other comprehensive income | Non-controlling interests | Total net assets | |||
Foreign currency translation adjustment | Remeasurements of defined benefit plans | Total accumulated other comprehensive income | |||
Balance at beginning of period | 9,944 | 65 | 10,031 | 2,611 | 89,949 |
Changes during period | |||||
Dividends of surplus | (2,649) | ||||
Profit attributable to owners of parent | 8,661 | ||||
Purchase of treasury shares | (4,034) | ||||
Disposal of treasury shares | 89 | ||||
Cancellation of treasury shares | - | ||||
Change in ownership interest of parent due to transactions with non-controlling interests | (1,395) | ||||
Net changes in items other than shareholders' equity | 99 | 517 | 670 | (958) | (287) |
Total changes during period | 99 | 517 | 670 | (958) | 383 |
Balance at end of period | 10,044 | 583 | 10,701 | 1,653 | 90,332 |
(4)Consolidated Statement of Cash Flows | ||
(Millions of yen) | ||
For the fiscal year ended March 31, 2025 | For the fiscal year ended March 31, 2026 | |
Cash flows from operating activities | ||
Profit before income taxes | 9,543 | 10,556 |
Depreciation | 10,998 | 10,762 |
Impairment losses | 93 | - |
Share-based payment expenses | 25 | 47 |
Increase (decrease) in allowance for doubtful accounts | 39 | 48 |
Increase (decrease) in provision for bonuses | (131) | 397 |
Increase (decrease) in provision for product warranties (2) (2)
Increase (decrease) in provision for share-based payments
Increase or decrease in net defined benefit asset and liability
(1) 1
(221) (985)
Increase (decrease) in provision for retirement benefits for directors (and other officers) | (18) | 1 |
Interest and dividend income | (437) | (452) |
Interest expenses | 1,374 | 789 |
Share of loss (profit) of entities accounted for using equity method | (36) | (6) |
Loss (gain) on sale and retirement of non-current assets | 52 | 153 |
Subsidy income | (51) | (187) |
Decrease (increase) in trade receivables | (142) | (517) |
Decrease (increase) in inventories | 474 | 317 |
Increase (decrease) in trade payables | 283 | (1,720) |
Other, net | (618) | 1,059 |
Subtotal | 21,220 | 20,263 |
Interest and dividends received | 419 | 483 |
Interest paid | (1,365) | (778) |
Income taxes refund (paid) | (3,861) | (2,553) |
Proceeds from compensation | 18 | - |
Subsidies received | 351 | 212 |
Net cash provided by (used in) operating activities | 16,783 | 17,627 |
Cash flows from investing activities | ||
Payments into long-term time deposits | (210) | - |
Proceeds from withdrawal of long term deposit | 1,074 | - |
Net decrease (increase) in time deposits | (378) | 4,540 |
Purchase of property, plant and equipment | (7,369) | (7,629) |
Proceeds from sale of property, plant and equipment | 11 | 4 |
Purchase of intangible assets | (689) | (1,808) |
Proceeds from sale of intangible assets | 0 | 0 |
Other, net | (21) | (50) |
Net cash provided by (used in) investing activities | (7,582) | (4,943) |
(Millions of yen)
For the fiscal year | For the fiscal year | |
ended March 31, 2025 | ended March 31, 2026 | |
Cash flows from financing activities | ||
Proceeds from long-term borrowings | - | 11,000 |
Repayments of long-term borrowings | (13,266) | (4,922) |
Proceeds from sale and leaseback transactions | 219 | 3,008 |
Repayments of lease liabilities | (2,697) | (2,546) |
Purchase of treasury shares | (0) | (4,034) |
Dividends paid | (2,430) | (2,648) |
Purchase of shares of subsidiaries not resulting in
Effect of exchange rate change on cash and cash equivalents | 1,024 | 77 |
Net increase (decrease) in cash and cash equivalents | (8,123) | 10,027 |
Cash and cash equivalents at beginning of period | 32,123 | 23,999 |
Cash and cash equivalents at end of period | 23,999 | 34,027 |
change in scope of consolidation
(173) (2,590)
Net cash provided by (used in) financing activities (18,348) (2,734)
(5) Notes for Consolidated Financial Statements
(Notes on the Going Concern Assumption)
Not applicable.
(Changes in Presentation Method) (Consolidated Statements of Income)
In the previous consolidated fiscal year, "Subsidy income," which had been included in "Other" under "Non-operating income," is presented separately from the current consolidated fiscal year because it exceeded 10% of total non-operating income.
As a result, ¥239 million presented as "Other" under "Non-operating income" in the consolidated statement of income for the previous fiscal year has been reclassified as "Subsidy income" of ¥51 million and "Other" of ¥188 million.
(Segment Informations) [Segment Information]
Overview of Reportable Segments
Our reportable segments are our constituent units for which separate financial information is available and which are subject to periodic review by the Board of Directors in order to determine the allocation of management resources and assess performance.
Our group mainly manufactures and sells automotive parts. Domestically, we and our domestic subsidiaries are in charge of overseas operations. Overseas, our overseas subsidiaries are in charge of North America (Mexico and the United States), ASEAN (Thailand and Indonesia), and China and South Korea. Each overseas subsidiary is an independent management unit and develops a comprehensive strategy for the products it handles and conducts business activities in each region.
Accordingly, we have four reportable segments based on our manufacturing and sales structure: Japan, North America, ASEAN, and China and South Korea.
Measurement of Sales, Income or Loss, Assets, and Other Items by Reportable Segments
Income of reportable segments is based on operating income. Intersegment sales and transfers are based on prevailing market prices.
Sales, Income or Loss, Assets, and Other Items by Reportable Segments
FY2024 (April 1, 2024 to March 31, 2025)
(Millions of Yen)
Reportable Segments | Adjustment (Note 1) | Consolidated (Note 2) | |||||
Japan | North America | ASEAN | China/Korea | Total | |||
Net sales: | |||||||
Product sales | 96,959 | 43,172 | 10,284 | 6,294 | 156,710 | - | 156,710 |
Tool sales | 5,654 | 2,347 | 482 | 1,133 | 9,617 | - | 9,617 |
Other sales | 1,177 | 788 | 40 | 226 | 2,233 | - | 2,233 |
Revenue from contracts with customers | 103,791 | 46,308 | 10,807 | 7,654 | 168,561 | - | 168,561 |
Sales to third parties | 103,791 | 46,308 | 10,807 | 7,654 | 168,561 | - | 168,561 |
Intersegment sales and transactions | 5,064 | 28 | 237 | 1,531 | 6,861 | (6,861) | - |
Total | 108,855 | 46,336 | 11,044 | 9,185 | 175,422 | (6,861) | 168,561 |
Segment profit (or loss) | 6,797 | 2,957 | 544 | (98) | 10,200 | (196) | 10,004 |
Segment assets | 108,956 | 53,656 | 12,350 | 8,670 | 183,633 | (29,078) | 154,554 |
Segment liabilities | 34,903 | 28,189 | 2,463 | 3,688 | 69,245 | (4,639) | 64,605 |
Other items | |||||||
Depreciation and amortization | 6,827 | 3,482 | 388 | 302 | 11,000 | (1) | 10,998 |
Interest income | 107 | 203 | 131 | 55 | 497 | (102) | 394 |
Interest expenses | 128 | 1,400 | 3 | 26 | 1,558 | (184) | 1,374 |
Share of loss of entities accounted for using equity method | 36 | - | - | - | 36 | - | 36 |
Investments in affiliated companies on the equity method | 773 | - | - | - | 773 | - | 773 |
Increase in tangible and intangible fixed assets | 7,943 | 736 | 204 | 172 | 9,057 | - | 9,057 |
Notes:
１ Adjustment amount of segment profit(or loss), adjustment for segment assets and liabilities refers to the elimination of intersegment transactions.
２ Segment profit (or loss) is reconciled to operating income in the consolidated statements of income.
FY2025 (April 1, 2025 to March 31, 2026)
(Millions of Yen)
Reportable Segments | Adjustment (Note 1) | Consolidated (Note 2) | |||||
Japan | North America | ASEAN | China/Korea | Total | |||
Net sales: | |||||||
Product sales | 95,102 | 44,040 | 10,223 | 6,205 | 155,572 | - | 155,572 |
Tool sales | 5,383 | 2,195 | 615 | 196 | 8,390 | - | 8,390 |
Other sales | 819 | 623 | 38 | 261 | 1,743 | - | 1,743 |
Revenue from contracts with customers | 101,305 | 46,859 | 10,878 | 6,663 | 165,706 | - | 165,706 |
Sales to third parties | 101,305 | 46,859 | 10,878 | 6,663 | 165,706 | - | 165,706 |
Intersegment sales and transactions | 2,489 | 13 | 110 | 1,752 | 4,366 | △4,366 | - |
Total | 103,795 | 46,872 | 10,988 | 8,415 | 170,072 | △4,366 | 165,706 |
Segment profit | 3,429 | 5,607 | 546 | 77 | 9,661 | 589 | 10,251 |
Segment assets | 114,863 | 52,398 | 12,722 | 8,992 | 188,977 | △30,343 | 158,633 |
Segment liabilities | 42,298 | 21,941 | 2,359 | 3,788 | 70,388 | △2,088 | 68,300 |
Other items | |||||||
Depreciation and amortization | 6,828 | 3,274 | 385 | 270 | 10,759 | 2 | 10,762 |
Interest income | 93 | 238 | 120 | 35 | 488 | △76 | 412 |
Interest expenses | 210 | 683 | 5 | 25 | 925 | △135 | 789 |
Share of loss of entities accounted for using equity method | 6 | - | - | - | 6 | - | 6 |
Investments in affiliated companies on the equity method | 808 | - | - | - | 808 | - | 808 |
Increase in tangible and intangible fixed assets | 8,517 | 524 | 189 | 88 | 9,320 | - | 9,320 |
Notes:
１ Adjustment amount of segment profit(or loss), adjustment for segment assets and liabilities refers to the elimination of intersegment transactions.
２ Segment profit (or loss) is reconciled to operating income in the consolidated statements of income.
[Related Information]
FY2024 (April 1, 2024 to March 31, 2025)
Information by Product/Service
This information is not presented because sales to outside customers exceed 90% of net sales on the consolidated statements of income.
Geographic Information
Net sales
(Millions of yen)
Japan
North America
ASEAN
China/Korea
Total
Mexico
America.
103,791
27,800
18,507
10,807
7,654
168,561
Property, plants and equipment
(Millions of yen)
Japan
North America
ASEAN
China/Korea
Total
Mexico
America.
40,482
6,323
24,630
2,036
2,371
75,843
Major Customer Information
(Millions of yen) | ||
Name of the Customer | Net sales | Relevant Segment Name |
Mazda Motor Corporation | 80,011 | Japan |
Mazda Motor Manufacturing de Mexico, S.A. de C.V. | 26,191 | North America |
Daihatsu Motor Co., Ltd. | 7,965 | Japan |
FY2025 (April 1, 2025 to March 31, 2026)
Information by Product/Service
This information is not presented because sales to outside customers in Japan exceed 90% of net sales on the consolidated statements of income.
Geographic Information
Net sales
(Millions of yen)
Japan
North America
ASEAN
China/Korea
Total
Mexico
America.
101,305
23,885
22,973
10,878
6,663
165,706
Property, plants and equipment
(Millions of yen)
Japan
North America
ASEAN
China/Korea
Total
Mexico
America.
40,349
5,309
22,445
1,993
2,250
72,348
Major Customer Information
(Millions of yen) | ||
Name of the Customer | Net sales | Relevant Segment Name |
Mazda Motor Corporation | 73,666 | Japan |
Mazda Motor Manufacturing de Mexico, S.A. de C.V. | 20,910 | North America |
Mazda North American Operations | 16,458 | North America |
Daihatsu Motor Co., Ltd. | 9,816 | Japan |
(Information on Amounts Per Share of Common Stock)
FY2024 (April 1, 2024 to March 31, 2025) | FY2025 (April 1, 2025 to March 31, 2026) | |
Net assets per share of common stock (Yen) | 1227.65 | 1346.42 |
Net income per share of common stock (Basic) (Yen) | 91.36 | 126.29 |
Note1: Diluted net income per share is not presented because there are no dilutive shares.
2: The calculation basis of Net income per share of common stock is as follows.
FY2024 (April 1, 2024 to March 31, 2025) | FY2025 (April 1, 2025 to March 31, 2026) | |
Net income per share of common stock: | ||
Net income attributable to owners of the parent (Millions of Yen) | 6,498 | 8,661 |
Amount not attribute to common stock shareholders (Millions of Yen) | - | - |
Net income attributable to owners of the parent related to common stock (Millions of Yen) | 6,498 | 8,661 |
Average number of shares outstanding during the period(shares) | 71,130,373 | 68,585,562 |
Note3: The calculation basis of Net assets per share of common stock is as follows.
FY2024 (April 1, 2024 to March 31, 2025) | FY2025 (April 1, 2025 to March 31, 2026) | |
Total Net assets (Millions of Yen) | 89,949 | 90,332 |
Amount deducted from total Net assets (Millions of Yen) | 2,611 | 1,653 |
(of which Non-controlling Interests (Millions of Yen)) | (2,611) | (1,653) |
Net assets related to common stock (Millions of Yen) | 87,337 | 88,679 |
Number of common stock used in the calculation of net assets per share(Thousands of shares) | 71,141,792 | 65,862,866 |
(Significant Subsequent Events)
We hereby announce that, at the meeting of the Board of Directors held on May 13, 2026, it was resolved to acquire treasury shares in accordance with the provisions of Article 156 of the Companies Act, as applied pursuant to Article 165, Paragraph 3 of the same Act.
Reason for the Share Repurchase
The Company will repurchase its own shares to improve capital efficiency, increase earnings per share, and further return profits to shareholders.
Contents of matters pertaining to the acquisition
Class of Shares Subject to Acquisition Our Common Stock
Total number of shares that can be acquired: 2,850,000 shares (maximum)
(4.3% of the total number of issued shares (excluding treasury stock))
Total purchase price of shares: ¥2 billion (maximum)
Period to be acquired From May. 14, 2026 to Sep. 30, 2026
Method of acquisition: Market purchase on the Tokyo Stock Exchange