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 13, 2025
Company name: Kamigumi Co., Ltd. Listing: Tokyo Stock Exchange
Securities code: 9364
URL: https://www.kamigumi.co.jp/
Representative: Yoshihiro Fukai, President & Representative Director
Inquiries: Yasuhiro Kishino, Senior Corporate Officer, General Manager of Financial Hq. Telephone: +81-78-271-5119
Scheduled date to file semi-annual securities report: November 14, 2025
Scheduled date to commence dividend payments: December 4, 2025
Preparation of supplementary material on financial results: Yes
Holding of financial results briefing: Yes (for institutional investors and analysts)
(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)
-
Consolidated operating results (Percentages indicate year-on-year changes.)
Operating revenues
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
146,516
6.4
19,292
14.3
21,489
15.0
15,245
12.8
September 30, 2024
137,656
2.3
16,875
9.3
18,690
7.2
13,519
7.2
Note: Comprehensive income For the six months ended September 30, 2025:
¥19,266 million
[66.6%]
For the six months ended September 30, 2024:
¥11,565 million
[(40.3)%]
Basic earnings per share
Diluted earnings per share
Six months ended
Yen
Yen
September 30, 2025
150.54
-
September 30, 2024
126.98
-
- Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
As of
Millions of yen
Millions of yen
%
September 30, 2025
498,095
395,054
79.0
March 31, 2025
491,092
384,518
78.0
Reference: Equity
As of September 30, 2025: ¥393,369 million
As of March 31, 2025: ¥382,889 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
-
50.00
-
80.00
130.00
Fiscal year ending March 31, 2026
-
90.00
Fiscal year ending
March 31, 2026 (Forecast)
95.00
185.00
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.)
Operating revenues | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Fiscal year ending March 31, 2026 | Millions of yen 287,100 | % 2.8 | Millions of yen 35,000 | % 5.8 | Millions of yen 39,200 | % 6.9 | Millions of yen 29,400 | % 9.2 | Yen 293.12 |
Note: Revisions to the earnings forecasts most recently announced: Yes
* 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
106,576,837 shares
As of March 31, 2025
106,576,837 shares
Number of treasury shares at the end of the period
As of September 30, 2025
5,432,006 shares
As of March 31, 2025
5,299,299 shares
Average number of shares outstanding during the period(cumulative from the beginning of the fiscal year)
Six months ended September 30, 2025 | 101,270,158 shares |
Six months ended September 30, 2024 | 106,468,332 shares |
Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.
Proper use of earnings forecasts, and other special matters
The forward-looking statements, including forecasts of financial results, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. However, the Company makes no guarantee that these forecasts will be achieved. Actual financial results, etc. may differ substantially due to various factors. For the conditions on which earnings forecasts are predicated and precautions for the use of earnings forecasts, please refer to Appendix
P.3 "1. Summary of Operating Results, etc. (3) Explanation of Forward-Looking Information such as Consolidated Earnings Forecasts."
Semi-annual consolidated balance sheet(Millions of yen)
As of March 31, 2025 As of September 30, 2025Assets | ||
Current assets | ||
Cash and deposits | 75,096 | 55,685 |
Trade notes and accounts receivable, and contract assets | 48,512 | 54,423 |
Electronically recorded monetary claims - operating | 1,094 | 817 |
Securities | 26,790 | 20,696 |
Inventories | 1,046 | 1,099 |
Other | 3,878 | 4,374 |
Allowance for doubtful accounts | (56) | (62) |
Total current assets | 156,362 | 137,034 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 96,294 | 97,282 |
Machinery, equipment and vehicles, net | 17,454 | 18,646 |
Land | 100,764 | 100,764 |
Construction in progress | 6,928 | 4,527 |
Other, net | 1,845 | 1,825 |
Total property, plant and equipment | 223,287 | 223,046 |
Intangible assets | 6,684 | 6,729 |
Investments and other assets | ||
Investment securities | 96,863 | 123,314 |
Deferred tax assets | 232 | 231 |
Other | 8,560 | 8,620 |
Allowance for doubtful accounts | (898) | (880) |
Total investments and other assets | 104,757 | 131,286 |
Total non-current assets | 334,729 | 361,061 |
Total assets | 491,092 | 498,095 |
(Millions of yen)
As of March 31, 2025 | As of September 30, 2025 | ||
Liabilities | |||
Current liabilities | |||
Trade notes and accounts payable | 26,152 | 19,572 | |
Short-term borrowings | 486 | 610 | |
Current portion of long-term borrowings | - | 10,000 | |
Income taxes payable | 6,852 | 6,827 | |
Provision for bonuses | 182 | 194 | |
Other | 12,986 | 13,712 | |
Total current liabilities | 46,660 | 50,918 | |
Non-current liabilities | |||
Long-term borrowings | 40,000 | 30,000 | |
Deferred tax liabilities | 2,439 | 4,254 | |
Provision for retirement benefits for directors (and other officers) | 100 | 103 | |
Provision for special repairs for ships and vessels | 7 | 11 | |
Retirement benefit liability | 16,221 | 16,667 | |
Provision for loss on business of subsidiaries and associates | 267 | 267 | |
Other | 877 | 818 | |
Total non-current liabilities | 59,913 | 52,123 | |
Total liabilities | 106,574 | 103,041 | |
Net assets | |||
Shareholders' equity | |||
Share capital | 31,642 | 31,642 | |
Capital surplus | 26,854 | 26,866 | |
Retained earnings | 317,009 | 324,152 | |
Treasury shares | (15,528) | (16,168) | |
Total shareholders' equity | 359,976 | 366,492 | |
Accumulated other comprehensive income | |||
Valuation difference on available-for-sale securities | 18,450 | 22,979 | |
Foreign currency translation adjustment | 1,654 | 1,200 | |
Remeasurements of defined benefit plans | 2,807 | 2,697 | |
Total accumulated other comprehensive income | 22,912 | 26,877 | |
Non-controlling interests | 1,629 | 1,684 | |
Total net assets | 384,518 | 395,054 | |
Total liabilities and net assets | 491,092 | 498,095 |
Semi-annual consolidated statement of income | |||
(Millions of yen) | |||
Six months ended September 30, 2024 | Six months ended September 30, 2025 | ||
Operating revenue | 137,656 | 146,516 | |
Operating costs | 109,873 | 115,263 | |
Operating gross profit | 27,783 | 31,252 | |
Selling, general and administrative expenses | 10,907 | 11,959 | |
Operating profit | 16,875 | 19,292 | |
Non-operating income | |||
Interest income | 46 | 135 | |
Dividend income | 986 | 1,029 | |
Foreign exchange gains | 41 | - | |
Share of profit of entities accounted for using equity method | 639 | 1,014 | |
Other | 169 | 229 | |
Total non-operating income | 1,883 | 2,408 | |
Non-operating expenses | |||
Interest expenses | 40 | 95 | |
Foreign exchange losses | - | 96 | |
Other | 29 | 20 | |
Total non-operating expenses | 69 | 212 | |
Ordinary profit | 18,690 | 21,489 | |
Extraordinary income | |||
Gain on sale of non-current assets | 155 | 34 | |
Gain on sale of investment securities | 455 | - | |
Total extraordinary income | 610 | 34 | |
Extraordinary losses | |||
Loss on sale and retirement of non-current assets | 44 | 44 | |
Loss on sale of golf club membership | 11 | - | |
Total extraordinary losses | 55 | 44 | |
Profit before income taxes | 19,245 | 21,479 | |
Income taxes - current | 5,799 | 6,347 | |
Income taxes - deferred | (94) | (151) | |
Total income taxes | 5,704 | 6,196 | |
Profit | 13,540 | 15,283 | |
Profit attributable to non-controlling interests | 21 | 38 | |
Profit attributable to owners of parent | 13,519 | 15,245 |
Semi-annual consolidated statement of comprehensive income | ||
(Millions of yen) | ||
Six months ended September 30, 2024 | Six months ended September 30, 2025 | |
Profit | 13,540 | 15,283 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | (2,402) | 4,390 |
Foreign currency translation adjustment | 467 | (285) |
Remeasurements of defined benefit plans, net of tax | (33) | (111) |
Share of other comprehensive income of entities accounted for using equity method | (6) | (12) |
Total other comprehensive income | (1,974) | 3,982 |
Comprehensive income | 11,565 | 19,266 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 11,550 | 19,210 |
Comprehensive income attributable to non-controlling interests | 14 | 56 |
(Millions of yen)
Six months ended September 30, 2025Cash flows from operating activities | ||
Profit before income taxes | 19,245 | 21,479 |
Depreciation | 6,497 | 6,377 |
Increase (decrease) in allowance for doubtful accounts | 0 | 0 |
Increase (decrease) in retirement benefit liability | 402 | 284 |
Interest and dividend income | (1,032) | (1,165) |
Interest expenses | 40 | 95 |
Share of loss (profit) of entities accounted for using equity method | (639) | (1,014) |
Loss (gain) on sale of investment securities | (455) | - |
Loss (gain) on sale of golf club membership | 11 | - |
Loss (gain) on sale and retirement of non-current assets | (111) | 9 |
Decrease (increase) in trade receivables | (1,283) | (5,775) |
Decrease (increase) in inventories | (20) | (53) |
Increase (decrease) in trade payables | 1,597 | (6,537) |
Other, net | (808) | (52) |
Subtotal | 23,444 | 13,648 |
Interest and dividends received | 1,665 | 1,460 |
Interest paid | (39) | (95) |
Income taxes paid | (5,420) | (6,377) |
Net cash provided by (used in) operating activities | 19,649 | 8,636 |
Cash flows from investing activities | ||
Net decrease (increase) in time deposits | (50) | (0) |
Purchase of securities | (999) | (300) |
Proceeds from sale of securities | 10,000 | - |
Proceeds from redemption of securities | 1,300 | 6,600 |
Purchase of non-current assets | (6,153) | (5,712) |
Proceeds from sale of non-current assets | 197 | 34 |
Payments for retirement of non-current assets | (26) | (42) |
Purchase of investment securities | (215) | (115) |
Proceeds from sale and redemption of investment securities | 646 | - |
Purchase of shares of subsidiaries and associates | - | (19,254) |
Other, net | (245) | (295) |
Net cash provided by (used in) investing activities | 4,452 | (19,085) |
Cash flows from financing activities | ||
Proceeds from short-term borrowings | 748 | 1,205 |
Repayments of short-term borrowings | (329) | (1,126) |
Dividends paid | (5,855) | (8,102) |
Purchase of treasury shares | (0) | (639) |
Other, net | (99) | (71) |
Net cash provided by (used in) financing activities | (5,535) | (8,734) |
Effect of exchange rate change on cash and cash equivalents | 337 | (226) |
Net increase (decrease) in cash and cash equivalents | 18,904 | (19,410) |
Cash and cash equivalents at beginning of period | 80,098 | 95,509 |
Cash and cash equivalents at end of period | 99,002 | 76,099 |
(Notes on segment information, etc.) Segment Information
Previous interim consolidated accounting period (April 1, 2024 to September 30, 2024)
Information on sales and the amount of profit or loss for each reported segment
(Millions of yen)
Reportable segments
Adjustment amount (Note) 1
Interim Consolidated Statements of Income (Note)2
Distribution Business
Other Businesses
Total
Operating revenue
Sales revenue to external customers
119,706
17,950
137,656
-
137,656
Internal operating revenue or transfers between segments
74
1,525
1,600
(1,600)
-
Total
119,781
19,476
139,257
(1,600)
137,656
Segment Profit
14,437
2,432
16,869
6
16,875
Note: 1 The adjustment amount of 6 million yen in segment profit is the amount of adjustment for the settlement of accounts related to the consolidation elimination.
2 Segment profit is adjusted to operating income in the interim consolidated statements of income.
Information on impairment losses or goodwill on fixed assets by reporting segment Not applicable.
The Interim Consolidated Accounting Period (April 1, 2025 to September 30, 2025)
Information on sales and the amount of profit or loss for each reported segment
(Millions of yen)
Reportable segments
Adjustment amount (Note) 1
Interim Consolidated Statements of Income (Note)2
Distribution Business
Other Businesses
Total
Operating revenue
Sales revenue to external customers
130,118
16,397
146,516
-
146,516
Internal operating revenue or transfers between segments
105
1,646
1,752
(1,752)
-
Total
130,224
18,044
148,268
(1,752)
146,516
Segment Profit
16,817
2,460
19,278
14
19,292
Note: 1 The 14 million yen adjustment in segment profit is the settlement adjustment amount related to the consolidation elimination.
2 Segment profit is adjusted to operating income in the interim consolidated statements of income.
Information on impairment losses or goodwill on fixed assets by reporting segment Not applicable.