DISCLAIMER: This document has been translated from a part of 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.
January 30, 2026
Company name: Inaba Denki Sangyo Co., Ltd. Listing: Tokyo Stock Exchange
Securities code: 9934
URL: https://www.inaba.co.jp
Representative: Masayuki Tamagaki, President and Representative Director
Inquiries: Naoto Mizokoshi, Director and Executive Officer, Administrative Headquarters Telephone: +81-6-4391-1781
Scheduled date to commence dividend payments: -
Preparation of supplementary material on financial results: None
Holding of financial results briefing: None
(Yen amounts are rounded down to millions, unless otherwise noted.)
-
Consolidated financial results for the nine months ended December 31, 2025 (from April 1, 2025 to December 31, 2025)
-
Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Nine months ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
December 31, 2025
291,607
6.9
20,832
20.2
22,572
22.0
15,736
24.0
December 31, 2024
272,762
12.4
17,337
15.4
18,506
16.0
12,695
15.0
Note: Comprehensive income For the nine months ended December 31, 2025:
Â¥23,073 million
[74.6%]
For the nine months ended December 31, 2024:
Â¥13,216 million
[8.7%]
Basic earnings per share
Diluted earnings per share
Nine months ended
Yen
Yen
December 31, 2025
139.92
138.37
December 31, 2024
112.87
111.40
Note: On December 1, 2025, the Company conducted a share split at a ratio of 2 shares per share of common shares. "Basic earnings per share" and "diluted earnings per share" are calculated on the assumption that the said share split was conducted at the beginning of the previous consolidated fiscal year.
- Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
As of
Millions of yen
Millions of yen
%
December 31, 2025
282,809
185,371
65.4
March 31, 2025
278,983
173,023
61.8
Reference: Equity
As of December 31, 2025: ¥184,854 million
As of March 31, 2025: ¥172,429 million
-
Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)
-
Cash dividends
Annual dividends per share
First quarter-end
Second quarter-end
Third quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Fiscal year ended March 31, 2025
-
60.00
-
80.00
140.00
Fiscal year ending March 31, 2026
-
70.00
-
Fiscal year ending
March 31, 2026 (Forecast)
35.00
-
Note: Revisions to the forecast of cash dividends most recently announced: None
On December 1, 2025, the Company conducted a share split at a ratio of 2 shares per share of common shares. The year-end dividend per share for the fiscal year ending March 31, 2026 (forecast) reflects the impact of the share split, and the total annual dividend per share is presented as "-".
If the impact of the share split were not taken into account, the year-end dividend per share for the fiscal year ending March 31, 2026 (forecast) would be 70.00 yen, and the total annual dividend per share would be 140.00 yen.
-
Forecast of consolidated financial results for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)
(Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Basic earnings per share
Fiscal year ending March 31, 2026
Millions of yen
392,000
%
2.1
Millions of yen
26,700
%
4.5
Millions of yen
27,400
%
2.6
Millions of yen
19,400
%
3.3
Yen
172.85
Note: Revisions to the earnings forecasts most recently announced: None
On December 1, 2025, the Company conducted a share split at a ratio of 2 shares per share of common shares. Basic earnings per share in the forecast of consolidated financial results reflects the impact of the share split. If the impact of the share split were not taken into account, basic earnings per share in the consolidated earnings forecasts for the fiscal year ending March 31, 2026 (full year) would be 345.71 yen.
- Notes
Significant changes in the scope of consolidation during the period: None
Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
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 December 31, 2025
113,659,600 shares
As of March 31, 2025
113,648,400 shares
Number of treasury shares at the end of the period
As of December 31, 2025
2,048,468 shares
As of March 31, 2025
1,415,208 shares
Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2025 | 112,473,287 shares |
Nine months ended December 31, 2024 | 112,478,606 shares |
Note: On December 1, 2025, the Company conducted a share split at a ratio of 2 shares per share of common shares. "Total number of issued shares at the end of the period," "number of treasury shares at the end of the period," and "average number of shares outstanding during the period" are calculated on the assumption that the said share split was conducted at the beginning of the previous consolidated fiscal year.
* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm:None
Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2025 As of December 31, 2025Assets | ||
Current assets | ||
Cash and deposits | 62,062 | 63,879 |
Notes and accounts receivable - trade, and contract assets | 76,507 | 60,341 |
Electronically recorded monetary claims - operating | 33,751 | 35,849 |
Securities | 15,000 | 15,000 |
Merchandise and finished goods | 22,680 | 24,553 |
Work in process | 367 | 250 |
Raw materials and supplies | 2,763 | 2,469 |
Other | 2,591 | 3,891 |
Allowance for doubtful accounts | (3) | (3) |
Total current assets | 215,720 | 206,232 |
Non-current assets | ||
Property, plant and equipment | ||
Land | 14,099 | 14,018 |
Other, net | 7,336 | 7,715 |
Total property, plant and equipment | 21,435 | 21,733 |
Intangible assets | 2,673 | 3,104 |
Investments and other assets | ||
Investment securities | 19,974 | 31,832 |
Other | 19,185 | 19,910 |
Allowance for doubtful accounts | (5) | (4) |
Total investments and other assets | 39,154 | 51,738 |
Total non-current assets | 63,262 | 76,576 |
Total assets | 278,983 | 282,809 |
(Millions of yen)
As of March 31, 2025 | As of December 31, 2025 | |||
Liabilities | ||||
Current liabilities | ||||
Electronically recorded obligations - operating | 7,330 | 5,953 | ||
Accounts payable - trade | 75,028 | 67,874 | ||
Short-term borrowings | 232 | 231 | ||
Income taxes payable | 4,941 | 1,779 | ||
Provision for bonuses | 7,363 | 4,497 | ||
Provision for bonuses for directors (and other officers) | 125 | 144 | ||
Other | 5,169 | 6,894 | ||
Total current liabilities | 100,190 | 87,375 | ||
Non-current liabilities | ||||
Retirement benefit liability | 45 | 56 | ||
Other | 5,724 | 10,005 | ||
Total non-current liabilities | 5,769 | 10,061 | ||
Total liabilities | 105,959 | 97,437 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 14,521 | 14,529 | ||
Capital surplus | 14,729 | 14,737 | ||
Retained earnings | 138,223 | 145,147 | ||
Treasury shares | (2,756) | (4,608) | ||
Total shareholders' equity | 164,717 | 169,806 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale securities | 6,861 | 14,139 | ||
Deferred gains or losses on hedges | (0) | 0 | ||
Foreign currency translation adjustment | 851 | 908 | ||
Total accumulated other comprehensive income | 7,711 | 15,048 | ||
Share acquisition rights | 593 | 517 | ||
Total net assets | 173,023 | 185,371 | ||
Total liabilities and net assets | 278,983 | 282,809 |
Quarterly consolidated statement of income | |||
(Millions of yen) | |||
Nine months ended December 31, 2024 | Nine months ended December 31, 2025 | ||
Net sales | 272,762 | 291,607 | |
Cost of sales | 225,929 | 239,390 | |
Gross profit | 46,832 | 52,217 | |
Selling, general and administrative expenses | 29,495 | 31,384 | |
Operating profit | 17,337 | 20,832 | |
Non-operating income | |||
Interest income | 104 | 264 | |
Dividend income | 687 | 1,145 | |
Other | 451 | 453 | |
Total non-operating income | 1,242 | 1,863 | |
Non-operating expenses | |||
Interest expenses | 15 | 16 | |
Loss on cancellation of insurance policies | 34 | 75 | |
Other | 23 | 31 | |
Total non-operating expenses | 73 | 123 | |
Ordinary profit | 18,506 | 22,572 | |
Extraordinary income | |||
Gain on sale of investment securities | 188 | 74 | |
Gain on sale of non-current assets | 2 | 5 | |
Total extraordinary income | 191 | 79 | |
Extraordinary losses | |||
Loss on retirement of non-current assets | 4 | 2 | |
Loss on sale of non-current assets | - | 0 | |
Impairment losses | 173 | - | |
Total extraordinary losses | 178 | 2 | |
Profit before income taxes | 18,519 | 22,649 | |
Income taxes - current | 5,381 | 5,845 | |
Income taxes - deferred | 442 | 1,066 | |
Total income taxes | 5,824 | 6,912 | |
Profit | 12,695 | 15,736 | |
Profit attributable to owners of parent | 12,695 | 15,736 | |
Quarterly consolidated statement of comprehensive income | |||
(Millions of yen) | |||
Nine months ended December 31, 2024 | Nine months ended December 31, 2025 | ||
Profit | 12,695 | 15,736 | |
Other comprehensive income | |||
Valuation difference on available-for-sale securities | 387 | 7,278 | |
Deferred gains or losses on hedges | 1 | 1 | |
Foreign currency translation adjustment | 131 | 57 | |
Total other comprehensive income | 521 | 7,336 | |
Comprehensive income | 13,216 | 23,073 | |
Comprehensive income attributable to | |||
Comprehensive income attributable to owners of parent | 13,216 | 23,073 | |