Hibiya Engineering,ltd. TSE:1982
Hibiya Engineering : Earnings Announcement for the First Three Quarters of the Fiscal Year Ending March 31, 2026
Source: MarketScreener
(Stock code: 1982)
Earnings Presentation for the First Three Quarters of the Fiscal Year Ending March 31, 2026 February 10, 2026Net sales and profit increased YoY.
Orders received remained steady, with large projects secured in every category, including Data centers/Information, driven
by ongoing strategic sales activities.
Net sales increased YoY, driven by solid progress on projects carried over.
Profit margin improved through initiatives to enhance productivity and profitability by leveraging construction
technologies developed over time, resulting in a YoY increase in each line-item profit.
(Billion yen)
12/2023
12/2024
12/2025
YoY change
YoY change (%)
Orders received
79.0
57.9
85.9
+28.0
+48.4%
Net sales
54.0
56.7
64.3
+7.5
+13.3%
Gross profit
8.3
10.1
13.6
+3.4
+34.3%
Gross profit margin
15.4%
17.9%
21.2%
+3.3%
-
Operating profit
1.9
3.5
6.5
+3.0
+85.3%
Ordinary profit
2.6
4.1
7.2
+3.1
+76.3%
Profit
attributable to owners of parent
1.8
3.1
5.1
+2.0
+65.6%
Financial Highlights (Consolidated)
In terms of orders by customer, orders rose YoY, with large projects secured across the private and public sectors.
In terms of orders by category, orders rose YoY, with large projects secured in a balanced manner across all categories.
Affected by the decline in orders due to the order cancellation pertaining to past fiscal year. (Private sector, Air conditioning/Plumbing and sanitation)
90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
By Customer79.0
7.6
85.9
5.3
40.5
57.9
6.3
46.6
19.1
0.7
4.2
7.0
30.0
28.2
26.8
(Billion yen)
90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
By Category(Billion yen)
79.0
7.6
85.9
5.3
19.5
16.2
13.4
57.9
6.3
8.7
22.6
11.2
41.7
31.6
38.4
12/2023 12/2024 12/2025
NTT Group Public sector Private sector Other*12/2023 12/2024 12/2025
Air conditioning Plumbing and sanitation Electrical Other*Orders Received (1): By Customer/Category (Consolidated)
Orders Received (2): By Facility Category (Non-consolidated)
Demand for data centers remained strong and continued to expand.
Orders received increased YoY, with large projects also secured in facilities other than data centers.
Affected by the decline in orders due to the order cancellation pertaining to past fiscal year. (Data centers/Information)
Trends in orders received (non-consolidated)(Billion yen)
80.638.2
23.1
7.9
0.6
3.4
2.6
3.0
0.3
5.5
0.2
2.9
3.5
0.7
11.4
1.3
31.0
32.6
34.5
90.0
Data centers/Information80.0
Office buildingsManufacturing/Distribution
70.0
60.0
50.0
Education/HealthcareHotels/Resorts
Other
40.0
30.0
20.0
10.0
0.0
12/2023 12/2024 12/2025
Orders Received (3): New vs. Renovation Split (Non-consolidated)
Orders for new construction increased significantly due to a higher volume of orders for large projects from the private sector.
As a result, the new construction ratio increased YoY.
90.0
80.0
Trends in new vs. renovation split (non-consolidated)
80.6 | ||||||||
71.3 | 42.6 (52.9%) | |||||||
37.1 (52.0%) luding ¥0.99 bn -out constructio | ||||||||
51.5 | ||||||||
35.5 (69.0%) luding ¥1.24 bn -out constructio | ||||||||
*Inc | for | *Including ¥11.66 bn for fit-out construction | ||||||
fit | n | 37.9 (47.1%) | ||||||
34.2 (48.0%) | ||||||||
*Inc | for | |||||||
fit | n | |||||||
16.0 (31.0%) | ||||||||
(Billion yen)
New construction70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
12/2023 12/2024 12/2025
Net sales by customers increased, driven by solid progress on construction projects in the private and public sectors.
Net sales were maintained in a balanced manner across air conditioning, plumbing and sanitation,
and electrical categories.
70.0
60.0
By Customer(Billion yen)
70.0
60.0
By Category(Billion yen)
54.0
7.6
56.7
6.1
8.1
64.3
5.1
11.8
9.9
12.9
13.5
11.6
24.8
28.8
34.4
54.0
7.6
56.7
6.1
64.3
5.1
30.2
20.9
25.3
1.5
2.2
5.7
23.9
23.0
23.1
50.0 50.0
40.0 40.0
30.0 30.0
20.0 20.0
10.0 10.0
0.0
12/2023 12/2024 12/2025
0.0
12/2023 12/2024 12/2025
NTT Group Public sector Private sector Other*Air conditioning Plumbing and sanitation Electrical Other*
* Sales earned by consolidated subsidiaries
Net Sales (1): By Customer/Category (Consolidated)
Net Sales (2): By Facility Category (Non-consolidated)
Data centers/Information remained solid and Office buildings recorded significant YoY growth due to
construction progress on multiple large projects.
Other increased YoY due to construction progress on apartment buildings under large-scale redevelopment projects.
Data centers/Information
Office buildings
Manufacturing/Distribution
Education/Health care
Hotels/Resorts
Other70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
Trends in net sales (non-consolidated)24.8
22.8
0.8
3.0
5.1
3.1
3.9
2.1
1.6
3.3
1.3
3.3
2.9
5.0
13.1
11.4
22.1
26.3
59.1
(Billion yen)
12/2023 12/2024 12/2025
Net Sales (3): New vs. Renovation Split (Non-consolidated)
Net sales increased at a similar rate to the same period of the previous year.
Renovation70.0
60.0
Trends in new vs. renovation split (non-consolidated)
(Billion yen)
New construction50.0
33.5
(56.8%)
*Including ¥1.79 bn for fit-out construction
25.5
(43.2%)
17.3
(37.4%)
21.8
(43.2%)
*Including ¥0.57 bn for
fit-out construction
(62.6%)
*Including ¥0.81 bn for fit-out construction
28.7
(56.8%)
29.0
59.1
40.0
30.0
20.0
10.0
0.0
12/2023 12/2024 12/2025
Projects carried over increased significantly, driven by solid progress in securing large projects in the private sector.
120.0
By Customer(Billion yen)
107.2
0.5
84.8
0.3
81.7
0.2
82.8
0.4
85.6
0.3
67.7
0.4
59.9
0.3
73.3
57.2
57.1
50.8
56.9
40.7
37.6
3.9
3.3
8.0
22.6
4.1
17.7
5.9
9.7
11.0
23.9
18.3
23.5
18.5
22.2
100.0
80.0
60.0
40.0
20.0
0.0
12/2022 3/2023 12/2023 3/2024 12/2024 3/2025 12/2025
NTT Group Public sector Private sector Other*Projects Carried Over by Customer (Consolidated)
Projects carried over increased significantly, driven by growth in a balanced manner across air conditioning, plumbing and sanitation, and electrical categories.
By Category(Billion yen)
120.0
100.0
84.8
81.7
82.8
85.6
0.5
107.2
21.5
80.0
0.3
0.2 0.4
0.3
60.0
40.0
20.0
67.7
0.4
11.8
19.2
36.2
59.9
0.3
9.9
18.2
31.3
16.2
20.0
48.2
13.6
22.6
45.2
14.1
20.3
47.9
13.8
22.2
49.1
31.9
53.1
0.0
12/2022 3/2023 12/2023 3/2024 12/2024 3/2025 12/2025
Air conditioning Plumbing and sanitation Electrical Other*Projects Carried Over by Category (Consolidated)
Construction projects scheduled for completion beyond the fiscal year after next rose significantly YoY, driven by higher orders for large private-sector projects.
By completion period (Billion yen)
45.0
40.0
35.0
30.0
26.2 27.4
42.2 42.0
NTT Group Public sector Private sector
37.3
25.0
20.0
9.3
10.9
29.2
29.3
33.2
15.0
10.0
1.4 4.0
15.3
5.2
4.2 1.2
13.9
12.2
2.9
5.0
0.0
12.4
7.7
8.6 0.3 1.2
As of December 31, 2024
As of December 31, 2025
As of December 31, 2024
As of December 31, 2025
As of December 31, 2024
As of December 31, 2025
To be completed within the current fiscal year
To be completed in the next fiscal year
To be completed in the fiscal year after next or thereafter
To be completed in FY3/25 FY3/26 FY3/26 FY3/27 FY3/27 FY3/28
or beyond or beyond
Projects Carried Over by Completion Period (Non-consolidated)
Based on solid performance, the full year forecast for FY3/2026 has been revised upward.
Orders received are expected to exceed the initial forecast, driven by progress on securing large projects.
Net sales are expected to exceed the initial forecast, following solid progress on projects carried over.
Profit is expected to exceed the initial forecast as the profit margin has improved through initiatives to enhance productivity and profitability by leveraging construction technologies developed over time.
(Billion yen)
8th Medium-term Management Plan
FY3/2024
FY3/2025
FY3/2026
Forecast at announcement of the Plan on May 11, 2023
Results
Forecast at announcement of the Plan on May 11, 2023
Results
Forecast at announcement of the Plan on May 11, 2023
Full year Forecast announced on May 13, 2025
(before revision)
Full year Forecast announced on February 10, 2026 (after revision)
Orders received
86.5
105.5
88.5
93.6
91.0
95.5
102.0
Net sales
85.0
83.7
88.5
89.7
90.5
93.5
94.3
Gross profit
14.0
14.9
14.7
17.2
15.8
17.6
19.8
Gross profit margin
16.5%
17.8%
16.6%
19.2%
17.5%
18.9%
21.0%
Operating profit
5.0
5.7
5.5
7.4
6.5
7.8
9.4
Profit
attributable to
owners of parent
3.8
4.8
4.1
5.9
4.8
6.0
7.3
Revised Full Year Forecast for FY3/2026
The Company's policy is to maintain and gradually increase dividends in a stable and sustainable manner, in line with
medium- to long-term profit growth.
Based on the above policy and solid performance, the full year forecast for FY3/2026 has been revised upward. With that, the year-end dividend per common share before the stock split will be increased from ¥50 to ¥80 (+¥30) from the previous forecast (¥40 after the split), and the annual dividend will be increased from ¥100 to ¥130.
The year-end dividend is expected to be officially determined following the resolution at the Annual General Meeting of Shareholders scheduled for June 2026.
Annual dividends per share
Payout ratio
(Consolidated)
Interim
Year-end
Total
Yen
Yen
Yen
%
Results for FY3/2025
44
50
94
35.5
Initial forecast for FY3/2026
(Announced on May 13, 2025)
50
50
100
36.7
Revised forecast
-
40
-
40.6
(Before stock split)
(50)
(80)
(130)
Notes:
The Company resolved on a stock split at a ratio of two shares for every one common share effective on March 31, 2026.
The revised forecast is based on dividends after the stock split.
The initial forecast for FY3/2026 and results for FY3/2025
Revised Dividend Forecast for FY3/2026
(Cautionary Statement Concerning Forward-Looking Statements)
Forward-looking statements such as forecasts of financial results stated in these materials are based on information currently available to the Company and certain assumptions that the Company judges as rational. These statements are not guarantees of future performance. Actual results may be materially different from the above forecasts for a number of reasons.
[Inquiries about these materials] Hibiya Engineering, Ltd.
IR and Public Relations Department, Management Headquarters
13F Sumitomo Fudosan Tokyo Mita South Tower, 3-5-27, Mita, Minato-ku, Tokyo, 108-6312 TEL: 03-3454-2720 FAX: 03-3454-3410
© HIBIYA ENGINEERING, LTD. ALL RIGHTS RESERVED.