Obayashi Corporation TSE:1802
FY2025 : Presentation on Financial Results With Notes (April 1, 2025 to March 31, 2026)
Source: MarketScreener
Obayashi Corporation
Presentation on Financial Results for FY2025 (April 1, 2025 to March 31, 2026)
May 13, 2026
PRIME 1802
Disclaimer Regarding the Appropriate Use of Financial Forecasts:
The forward-looking statements in this document, including financial forecasts, are based on information currently available to the Company and certain assumptions that the Company has judged to be reasonable, and are not intended as a guarantee of their realization. Actual results may differ significantly from the forecasts due to various factors.
Disclaimer Regarding the Translation:
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.
INDEX
1
FY2025 Results
2
FY2026 Forecasts
3
Overview of Each Business Segment
4
Addendum to the Medium-Term Business Plan 2022 and
Capital Policy Progress
5
Other Topics
© OBAYASHI CORPORATION, All rights reserved.
2
1
FY2025 Results
*FY2025 full year forecasts revised on February 9, 2026.
*FY2024 results reflect the retrospective application of the change in the foreign currency translation method.
© OBAYASHI CORPORATION, All rights reserved.
3
Consolidated/
Non-Consolidated Ratio
1.07
FY2024 Results FY2025 Forecasts FY2025 Results
3,009.0
3,050.0
3,316.6
173.7
10.9
170.0
5.0
Consolidated
145.3
Subsidiaries* 29.6
+2.2%
+¥3.7B
vs. forecast:
+19.5%
¥173.7B
+¥28.4B
YoY:
(Billions of yen)
Consolidated Orders Received
Consolidated
(Billions of yen)
Profit
Attributable to Owners of Parent
vs. forecast: (¥0.3B) (0.2%) Largely flat YoY, as steady progress with projects in hand in overseas Increased YoY due to factors including additional claim approvals, change
building and civil engineering, among other factors, offset the decline in orders, and greater contribution from highly profitable construction projects domestic building compared to FY2024, which benefited from progress in domestic building; steady progress with projects in hand in overseas civil with large projects. engineering; and the sale of developed properties in the real estate business.
Profit Attributable to Owners of Parent
1,641.6
4
Decreased YoY, despite new orders for large projects in overseas building, as
new orders received in domestic building and civil engineering declined, reflecting comparison with FY2024-which saw new orders for large projects-and new orders continuing to be strategically received in alignment with the current construction capacity.
© OBAYASHI CORPORATION, All rights reserved.
*All consolidated journal entries are included in the subsidiaries' figures.
*FY2025 full year forecasts revised on February 9, 2026.
*FY2024 results reflect the retrospective application of the change in the foreign currency translation method.
Increased YoY due to higher operating profit, primarily in domestic
building and overseas civil engineering, and other factors.
FY2024 Results FY2025 Forecasts FY2025 Results
FY2024 Results FY2025 Forecasts FY2025 Results
(9.3%)
(1.3%)
¥3,009.0B
YoY: (¥307.5B)
vs. forecast: (¥40.9B)
Consolidated
Orders Received
Subsidiaries*
1,272.2
1,653.0
Non-Consolidated
2,044.4
Non-Consolidated
115.7
Consolidated/
Non-Consolidated Ratio
1.83
162.8
165.0
1,367.4
1,397.0
(Billions of yen)
2,570.0
194.6
195.0
Consolidated
2,590.7
(0.2%)
+0.6%
¥2,586.2B
YoY: (¥4.5B)
vs. forecast: +¥16.2B
Consolidated
Net Sales
(Billions of yen)
Consolidated Operating Profit
2,586.2
Consolidated Net Sales
Summary of FY2025 Results (P&L)
5
4
3
2
FY2025 Results
1
136.0
FY2025 Forecasts
FY2024 Results
+36.6%
Non-Consolidated
89.4
¥194.6B
YoY: +¥52.2B
Consolidated
Operating Profit
1,509.9
1,515.0
129.9
FY2025 Results
Non-Consolidated
1,660.6
Consolidated/
Non-Consolidated Ratio
1.50
Consolidated/
Non-Consolidated Ratio
1.71
Subsidiaries*
930.1
64.7
59.0
Consolidated
142.4
Subsidiaries*
53.0
1,055.0 1,076.2
2.3
ROIC
Medium-Term Business Plan 2022's
performance indicator target: 5% or more
8.0
6.4
+200 bps
YoY:
14.4
Medium-Term Business Plan 2022's
performance indicator target: 10% or more 12.6
8.4
8.4 %
Return on
Invested Capital
(ROIC)
(%)
ROE
(%)
5
4.9
3.8
4.1
7.0
Return on
Equity
(ROE)
14.4 %
YoY:
+180 bps
FY2021
FY2022 FY2023 FY2024
FY2025
FY2021 FY2022 FY2023 FY2024
FY2025
Improved due to higher operating profit, primarily in domestic building. Exceeded the previous fiscal year's level due to improved profit
attributable to owners of parent. Continued management with a focus on capital efficiency.
*FY2024 results reflect the retrospective application of the change in the foreign currency translation method.
© OBAYASHI CORPORATION, All rights reserved.
1,158.2
1
FY2025 Results
2
3
4 5
Summary of FY2025 Results (Financial Position)
Consolidated Equity
(Billions of yen)
Consolidated Interest-Bearing Debt
and Nonrecourse Loans (Billions of yen)
Consolidated
Equity
¥1,258.4B
YoY:
+¥100.1B +8.6%
1,151.6
FY2021 FY2022 FY2023 FY2024 FY2025
Decreased YoY due to the completion of large projects with improved collections on outstanding construction receivables in FY2025.
1,258.4
337.9
362.7
344.0
955.6
997.1
323.8
280.4
Consolidated Interest-Bearing Debt and Nonrecourse Loans
¥344.0B
YoY:
(¥18.6B) (5.2%)
FY2021 FY2022 FY2023 FY2024 FY2025
Increased YoY due to higher retained earnings from solid performance, an increase in valuation difference on available-for-sale securities reflecting higher stock prices, and higher foreign currency translation adjustment due to yen depreciation, despite shareholder returns including the purchase of treasury shares.