Japan Steel Works, Ltd. TSE:5631
Japan Steel Works : Summary of Consolidated Financial Results for the Six Months Ended September 30, 2025 (Based on Japanese GAAP)
Source: MarketScreener
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.
November 10, 2025
Company name: The Japan Steel Works, Ltd. Listing: Tokyo Stock Exchange
Securities code: 5631
URL: https://www.jsw.co.jp/
Representative: Toshio Matsuo, Representative Director & President Inquiries: Please refer to the website.
Telephone: +81-3-5745-2001
Scheduled date to file semi-annual securities report: November 13, 2025
Scheduled date to commence dividend payments: December 11, 2025
Preparation of supplementary material on financial results: None
Holding of financial results briefing: Yes (For Securities Analysts and Institutional Investors)
(Yen amounts are rounded down to millions, unless otherwise noted.)
-
Consolidated financial results for the six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025)
Note: Comprehensive income For the six months ended September 30, 2025:
¥11,910 million
[88.3%]
For the six months ended September 30, 2024:
¥6,325 million
[(0.4)%]
-
Consolidated operating results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Six months ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
September 30, 2025
135,662
25.3
12,192
47.1
12,647
47.0
10,092
67.9
September 30, 2024
108,277
(1.7)
8,289
43.3
8,602
26.8
6,009
26.2
Basic earnings per share
Diluted earnings per share
Six months ended
Yen
Yen
September 30, 2025
137.11
-
September 30, 2024
81.65
-
- Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
As of
Millions of yen
Millions of yen
%
September 30, 2025
393,614
202,929
51.2
March 31, 2025
398,122
195,101
48.5
Reference: Equity
As of September 30, 2025: ¥201,624 million
As of March 31, 2025: ¥193,220 million
-
Consolidated operating results (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
-
38.00
-
48.00
86.00
Fiscal year ending March 31, 2026
-
44.00
Fiscal year ending
March 31, 2026 (Forecast)
44.00
88.00
Note: Revisions to the forecast of cash dividends most recently announced: None
- 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 290,000 | % 16.7 | Millions of yen 24,500 | % 7.3 | Millions of yen 24,500 | % 4.3 | Millions of yen 18,500 | % 3.0 | Yen 251.34 |
Note: Revisions to the earnings forecasts most recently announced: None
* NotesSignificant changes in the scope of consolidation during the period: None
Adoption of accounting treatment specific to the preparation of semi-annual 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 September 30, 2025
74,415,909 shares
As of March 31, 2025
74,408,985 shares
Number of treasury shares at the end of the period
As of September 30, 2025
805,015 shares
As of March 31, 2025
804,900 shares
Average number of shares outstanding during the period(cumulative from the beginning of the fiscal year)
Six months ended September 30, 2025 | 73,606,626 shares |
Six months ended September 30, 2024 | 73,598,983 shares |
Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.
Other special matters
The Company plans to hold an earnings briefing for securities analysts and institutional investors on Friday, November 14, 2025. The financial results briefing materials used in the briefing are scheduled to be posted on the Company's website after 11 a.m. on the day of the meeting.
Semi-annual consolidated balance sheet(Millions of yen)
As of March 31, 2025 As of September 30, 2025Assets | ||
Current assets | ||
Cash and deposits | 75,899 | 77,930 |
Notes and accounts receivable - trade | 60,398 | 44,698 |
Electronically recorded monetary claims - operating | 7,729 | 4,816 |
Merchandise and finished goods | 5,894 | 5,132 |
Work in process | 113,654 | 116,098 |
Raw materials and supplies | 10,980 | 11,031 |
Other | 21,276 | 24,643 |
Allowance for doubtful accounts | (237) | (219) |
Total current assets | 295,595 | 284,131 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 26,427 | 26,210 |
Machinery, equipment and vehicles, net | 13,533 | 13,204 |
Other, net | 15,661 | 21,445 |
Total property, plant and equipment | 55,622 | 60,859 |
Intangible assets | ||
Other | 2,240 | 3,061 |
Total intangible assets | 2,240 | 3,061 |
Investments and other assets | ||
Investment securities | 24,629 | 27,226 |
Other | 20,348 | 18,645 |
Allowance for doubtful accounts | (313) | (311) |
Total investments and other assets | 44,664 | 45,560 |
Total non-current assets | 102,527 | 109,482 |
Total assets | 398,122 | 393,614 |
(Millions of yen)
As of March 31, 2025 | As of September 30, 2025 | |||
Liabilities | ||||
Current liabilities | ||||
Notes and accounts payable - trade | 29,545 | 22,250 | ||
Electronically recorded obligations - operating | 29,647 | 17,380 | ||
Short-term borrowings | 12,473 | 12,528 | ||
Current portion of long-term borrowings | 10,299 | 299 | ||
Income taxes payable | 4,604 | 3,533 | ||
Contract liabilities | 56,596 | 52,575 | ||
Provision for loss on wind power generator business | 486 | 486 | ||
Provision for business restructure | 1,455 | 1,455 | ||
Other provisions | 916 | 1,166 | ||
Other | 21,611 | 18,951 | ||
Total current liabilities | 167,637 | 130,627 | ||
Non-current liabilities | ||||
Long-term borrowings | 19,440 | 44,291 | ||
Provisions | 39 | 33 | ||
Retirement benefit liability | 7,791 | 7,974 | ||
Asset retirement obligations | 1,446 | 1,447 | ||
Other | 6,664 | 6,310 | ||
Total non-current liabilities | 35,383 | 60,056 | ||
Total liabilities | 203,020 | 190,684 | ||
Net assets | ||||
Shareholders' equity | ||||
Share capital | 19,837 | 19,865 | ||
Capital surplus | 5,569 | 5,580 | ||
Retained earnings | 154,059 | 160,618 | ||
Treasury shares | (2,317) | (2,319) | ||
Total shareholders' equity | 177,149 | 183,745 | ||
Accumulated other comprehensive income | ||||
Valuation difference on available-for-sale securities | 7,845 | 10,925 | ||
Deferred gains or losses on hedges | 7 | (41) | ||
Foreign currency translation adjustment | 3,117 | 2,133 | ||
Remeasurements of defined benefit plans | 5,101 | 4,860 | ||
Total accumulated other comprehensive income | 16,071 | 17,878 | ||
Non-controlling interests | 1,881 | 1,305 | ||
Total net assets | 195,101 | 202,929 | ||
Total liabilities and net assets | 398,122 | 393,614 |
Semi-annual consolidated statement of income | (Millions of yen) | ||
Six months ended September 30, 2024 | Six months ended September 30, 2025 | ||
Net sales | 108,277 | 135,662 | |
Cost of sales | 81,870 | 103,765 | |
Gross profit | 26,406 | 31,897 | |
Selling, general and administrative expenses | 18,116 | 19,705 | |
Operating profit | 8,289 | 12,192 | |
Non-operating income | |||
Interest income | 51 | 92 | |
Dividend income | 369 | 473 | |
Foreign exchange gains | - | 181 | |
Gain on non-current assets rent | 136 | 120 | |
Share of profit of entities accounted for using equity method | 6 | 17 | |
Miscellaneous income | 196 | 234 | |
Total non-operating income | 762 | 1,119 | |
Non-operating expenses | |||
Interest expenses | 121 | 293 | |
Foreign exchange losses | 187 | - | |
Commission expenses | 2 | 221 | |
Miscellaneous losses | 138 | 148 | |
Total non-operating expenses | 449 | 664 | |
Ordinary profit | 8,602 | 12,647 | |
Extraordinary income | |||
Gain on sale of non-current assets | 13 | 11 | |
Gain on sale of investment securities | - | 1,706 | |
Total extraordinary income | 13 | 1,717 | |
Extraordinary losses | |||
Loss on sale of non-current assets | 209 | - | |
Loss on retirement of non-current assets | 280 | 379 | |
Loss on inappropriate conduct in quality inspections | 44 | - | |
Total extraordinary losses | 534 | 379 | |
Profit before income taxes | 8,081 | 13,986 | |
Income taxes - current | 2,930 | 3,698 | |
Income taxes - deferred | (950) | 145 | |
Total income taxes | 1,980 | 3,844 | |
Profit | 6,100 | 10,141 | |
Profit attributable to non-controlling interests | 91 | 49 | |
Profit attributable to owners of parent | 6,009 | 10,092 |