Performance for the First Half of Fiscal Year Ending March 2026
October 28, 2025
Kinden Corporation
Contents
Summary of Financial Results
Consolidated P1
Non-Consolidated P2
Cash Flows (Consolidated) P3
Capital Investment (Consolidated) P3
Business Overview by Region (Domestic/Overseas) P4
Business Overview (Non-Consolidated)
(1) Construction Orders
① Construction Orders by Customer
P5
② Construction Orders by Operation
P5
③ Renewal Construction (Excluding Power Distribution Lining)
P5
④ Construction Orders by Region
P6
⑤ Construction Orders by Operation
(ａ) Power Distribution Lining
P7
(ｂ) Electrical (By Facility)
P7
(ｃ) Electrical (By Customer's Industry)
P7
(ｄ) Information & Communications Network
P8
(ｅ) Environmental Management Facilities (By Facility)
P8
(ｆ) Electric Power & Others
P8
(2) Net Sales of Completed Construction Contracts
① Sales of Completed Construction Contracts by Customer
P9
② Sales of Completed Construction Contracts by Operation
P9
③ Renewal Construction (Excluding Power Distribution Lining)
P9
④ Sales of Completed Construction Contracts by Region
P10
⑤ Sales of Completed Construction Contracts by Operation
(ａ) Power Distribution Lining
P11
(ｂ) Electrical (By Facility)
P11
(ｃ) Electrical (By Customer's Industry)
P11
(ｄ) Information & Communications Network
P12
(ｅ) Environmental Management Facilities (By Facility)
P12
(ｆ) Electric Power & Others
P12
(3) Contract Backlog by Operation at the End of Period
P13
(4) Renewable Energy-related Construction
P13
(5) Selling, General and Administrative Expenses
P14
(6) Number of Employees
P14
Shareholders
Number of Shareholders by Type P15
Major Shareholders P15
Shareholder Returns
Dividends P16
Acquisition of Treasury Stock P16
ROE P16
The Company bases its forecasts on assumptions that are believed to be reasonable under information available at the time of the forecasts. Actual results may materially differ from these forecasts due to potential risks and uncertainties.
Amounts less than one million were rounded down.
FY2026 1H
(Forecast)
310,000
11,378
Difference
Comparison to FY2026 1H (Forecast)
1H results
Consolidated (Millions of yen)
Full year
FY2024
FY2025
FY2026
(Forecast)
Net sales of completed construction contracts
654,516
705,058
742,000
Gross profit on completed construction contracts
107,581
132,803
160,000
Gross profit margin
16.4%
18.8%
21.6%
Selling, general and
administrative expenses
64,903
71,823
79,000
Operating income
42,677
60,979
81,000
Operating income margin
6.5%
8.6%
9.2%
Ordinary income
45,982
64,546
86,500
Profit attributable to owners
of parent
33,553
47,250
64,500
Profit per share (yen)
165.34
236.26
325.65
* Revised October 2025
As of Mar. 31,
2024
As of Mar. 31,
2025
FY2025 1H
FY2026 1H
Change
%
Change
298,040
321,378 23,338 7.8%
46,435
15.6%
33,559
70,964 24,528
22.1% 6.5
39,076 5,517
52.8%
-
16.4%
12,876
4.3%
31,887 19,011 147.6%
9.9% 5.6 -
14,316
34,073 19,756 138.0%
9,815
22,603 12,788 130.3%
48.92
114.06 65.14
As of Sep. 30,
2024
As of Sep. 30,
2025
23,000
8,887
7.4%
2.5
24,000
10,073
17,000
5,603
85.81
Total assets
815,887
821,693
769,943
Total net assets
574,053
599,738
569,231
Equity ratio
70.3%
72.9%
73.8%
Net assets per share (yen)
2,848.11
3,014.06
827,612
617,648
74.6%
Net Sales of Completed Construction Contracts
800,000
700,000
600,000
500,000
400,000
705,058
742,000
298,040
321,378
300,000
200,000
100,000
0
FY2024 FY2025 FY2026 FY2025 FY2026
(Millions of yen) (Forecast) 1H 1H
654,516
FY2025 FY2026
1H 1H
FY2026
(Forecast)
(Millions of yen)
FY2024 FY2025
0.0%
2.0%
12,876
4.0%
60,979
30,000
20,000
10,000
0
31,887
4.3%
6.0%
81,000
6.5%
10.0%
8.0%
8.6%
9.9%
80,000
70,000
60,000
50,000
40,000
9.2%
12.0%
90,000
Operating income margin
Operating Income
42,677
FY2025 FY2026
1H 1H
FY2026
(Forecast)
(Millions of yen)
0 0.0%
FY2024 FY2025
2.0%
14,316
45,982
4.0%
64,546
34,073
4.8%
6.0%
86,500
8.0%
7.0%
70,000
60,000
50,000
40,000
30,000
20,000
10,000
10.0%
9.2%
10.6%
12.0%
11.7%
90,000
80,000
Ordinary margin
Ordinary Income
FY2025 FY2026
1H 1H
FY2026
(Forecast)
(Millions of yen)
0 0.0%
FY2024 FY2025
2.0%
9,815
33,553
22,603
47,250
4.0%
3.3%
64,500
40,000
30,000
20,000
10,000
5.1% 6.0%
8.0%
7.0%
6.7%
60,000
50,000
8.7%
70,000
Net profit margin
12.0%
10.0%
90,000
80,000
Profit Attributable to Owners of Parent
Full year | 1H results | Comparison to FY2026 1H (Forecast) | ||||||||||
FY2026 | FY2025 | FY2026 | % | FY2026 1H | ||||||||
FY2024 | FY2025 | (Forecast) | 1H | 1H | Change | Change | (Forecast) | Difference | ||||
560,416 | 619,160 | 590,000 | 378,900 | 460,889 | 81,988 | 21.6% | ||||||
559,954 | 595,918 | 615,000 | 255,908 | 267,440 | 11,532 | 4.5% | 265,000 | 2,440 | ||||
87,662 | 111,374 | 136,500 | 40,225 | 61,243 | 21,018 | 52.3% | ||||||
15.7% | 18.7% | 22.2% | 15.7% | 22.9% | 7.2 | - | ||||||
53,139 | 58,987 | 63,500 | 28,053 | 31,693 | 3,639 | 13.0% | ||||||
34,523 | 52,386 | 73,000 | 12,171 | 29,550 | 17,378 | 142.8% | 23,000 | 6,550 | ||||
6.2% | 8.8% | 11.9% | 4.8% | 11.0% | 6.2 | - | 8.7% | 2.3 | ||||
39,549 | 57,161 | 78,000 | 15,302 | 33,470 | 18,167 | 118.7% | 26,500 | 6,970 | ||||
29,778 | 42,374 | 62,000 | 11,234 | 24,326 | 13,091 | 116.5% | 20,000 | 4,326 | ||||
146.74 | 211.88 | 313.03 | 56.00 | 122.75 | 66.75 | 100.95 | ||||||
*Revised October 2025 | ||||||||||||
As of Mar. 31, 2024 | As of Mar. 31, 2025 | As of Sep. 30, 2024 | As of Sep. 30, 2025 | |||||||||
Non-Consolidated (Millions of yen)
Construction orders
Net sales of completed construction contracts
Gross profit on completed construction contracts
Gross profit margin Selling, general and administrative expenses
Operating income
Operating income margin
Ordinary income Profit
Profit per share (yen)
Total assets
723,189
709,198
681,405
Total net assets
520,706
533,471
515,381
Equity ratio
72.0%
75.2%
75.6%
Net assets per share (yen)
2,586.84
2,684.14
716,901
554,945
77.4%
Net Sales of Completed Construction Contracts
700,000
600,000
500,000
400,000
300,000
595,918
615,000
255,908 267,440
200,000
100,000
0
FY2024
(Millions of yen)
FY2025 FY2026
(Forecast)
FY2025 FY2026
1H 1H
Construction Orders
700,000
600,000
500,000
460,889
400,000
378,900
300,000
590,000
200,000
100,000
0
FY2024
(Millions of yen)
FY2025 FY2026
(Forecast)
FY2025 FY2026
1H 1H
559,954
560,416
619,160
4.4%
6.0%
5.3%
40,000
8.0%
50,000
7.1%
60,000
10.0%
9.1%
10.1%
70,000
12.0%
80,000
Net profit margin
30,000
62,000
24,326 4.0%
20,000
42,374
29,778
11,234
10,000
2.0%
0
0.0%
FY2024 FY2025
(Millions of yen)
FY2026
(Forecast)
FY2025 FY2026
1H 1H
29,550
30,000
FY2025 FY2026
1H 1H
4.0%
20,000
52,386
10,000
34,523
12,171
2.0%
0
0.0%
FY2024 FY2025
(Millions of yen)
FY2026
(Forecast)
Profit
6.0%
4.8%
40,000 73,000
6.2%
60,000
8.0%
50,000
10.0%
8.8%
70,000
12.0%
11.0%
11.9%
80,000
Operating income margin
Operating Income
Cash Flows (Consolidated)
Full year
FY2024
FY2025
49,062
66,571
15,244
34,030
6,732
7,109
3,371
3,923
(17,725)
(2,625)
66,140
52,456
792
(968)
(8,676)
(10,588)
14,144
(27,360)
(30,967)
(26,853)
4,710
10,808
9,989
21,873
(4,064)
(11,011)
(14,980)
(13,720)
(15,130)
(17,978)
(13,639)
(17,398)
38,520
24,545
26,482
43,722
(27,522)
(13,483)
(4,849)
(30,580)
-
-
-
(11,521)
6,710
17,672
9,009
4,881
(1,368)
(583)
(1,042)
(1,347)
(22,179)
3,605
3,117
(38,568)
(7,302)
(8,008)
(3,823)
(5,460)
(8,458)
(16,658)
(8,655)
(9,937)
(217)
(310)
(708)
(7,969)
(15,978)
(24,976)
(13,187)
(23,367)
678
970
1,211
(1,226)
1,040
4,144
17,623
(19,440)
180,517
184,662
198,141
165,222
Profit before income taxes Depreciation
Decrease (increase) in notes and accounts
receivable-trade
Decrease (increase) in costs on uncompleted construction contracts Increase (decrease) in notes and accounts payable-trade
Increase (decrease) in advances received
on uncompleted construction contracts Other
Income taxes paid
Net cash provided by (used in) operating activities
Purchase of property, plant and equipment Payments for acquisition of subsidiaries' shares
Decrease (increase) in short-term and long-
term investment securities Other
Net cash provided by (used in) investing activities
Purchase of treasury stock Cash dividends paid
Other
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash
equivalents
(15,978)
(22,179)
(30,000)
(24,976)
(23,367)
(40,000)
Net cash Net cash Net cash provided used in used in
by investing financing operating activities activities activities
(Millions of yen)
FY2024
Net cash Net cash Net cash provided used in used in
by investing financing operating activities activities activities
FY2025
Net cash Net cash Net cash provided used in used in
by investing financing operating activities activities activities
FY2025 1H
(38,568)
Net cash Net cash Net cash
provided used in used in by investing financing
operating activities activities activities
FY2026 1H
(20,000)
(13,187)
0
(10,000)
3,117
3,605
20,000
10,000
26,482
24,545
30,000
38,520
40,000
43,722
50,000
Cash and cash equivalents at the end of period
Capital Investment (Consolidated)
(Millions of yen)
1H
FY2025 1H
FY2026 1H
(Millions of yen)
FY2025 1H
Increase
FY2026 1H (Decrease)
1H
Full year | ||
FY2024 | FY2025 | |
Land | 9,700 | 37.4% | 3,631 | 35.7% | - | 0.0% | 12,936 | 41.8% | 12,936 | |
Buildings and structures | 13,532 | 52.1% | 2,554 | 25.1% | 2,025 | 51.7% | 16,630 | 53.7% | 14,604 | |
Vehicles | 1,863 | 7.2% | 2,423 | 23.8% | 1,288 | 32.9% | 824 | 2.7% | (463) | |
Machinery, tools and fixtures | 857 | 3.3% | 1,567 | 15.4% | 605 | 15.4% | 551 | 1.8% | (54) | |
Total | 25,953 | 100.0% | 10,176 | 100.0% | 3,920 | 100.0% | 30,943 | 100.0% | 27,023 | |
Note: Lease assets are included. |
New orders
1H FY2024 FY2025 FY2025 1H FY2026 1H
Full year
Business Overview by Region (Domestic/Overseas)
Company
Area
Domestic
Kinden Corporation 553,822 614,523 376,024
(Millions of yen)
Net sales
Full year 1H
FY2024 FY2025 FY2025 1H FY2026 1H
264,400
457,905
553,120 591,028 253,442
Domestic subsidiaries | |||||||
Domestic subsidiaries related to Nishihara Engineering Company, 39,726 Limited (2 companies) | 43,768 | 21,379 | 33,448 | 32,586 | 39,245 | 13,045 | 13,493 |
Domestic subsidiaries related to 11,596 | 10,806 | 5,638 | 19,984 | 10,510 | 11,392 | 4,013 | 12,209 |
Domestic subsidiaries related to wind power generation business 2,995 | 2,524 | 1,108 | 1,096 | 2,995 | 2,524 | 1,108 | 1,096 |
(2 companies) | |||||||
Other domestic subsidiaries 14,981 | 16,727 | 9,114 | 9,174 | 17,381 | 16,801 | 6,899 | 7,402 |
Domestic subsidiaries total 69,300 | 73,827 | 37,240 | 63,704 | 63,473 | 69,964 | 25,067 | 34,201 |
electrical business (6 companies)
(4 companies)
(14 companies)
Domestic Total [Kinden + Domestic subsidiaries] | 623,122 | 688,350 | 413,265 | 521,609 | 616,593 | 660,992 | 278,509 | 298,601 | |
Domestic ratio | 91.0% | 90.1% | 91.9% | 92.2% | 92.1% | 91.6% | 91.5% | 91.0% | |
Overseas
Kinden Corporation
41,185
Asia 2,634 2,405 1,918
2,040
1,234
26,640
2,510 1,533 816
Guam | 3,960 | 2,231 | 957 | 943 | 4,323 | 3,356 | 1,648 | 1,805 |
Other areas | 0 | - | - | - | - | - | - | - |
Kinden (Overseas) total | 6,594 | 4,636 | 2,875 | 2,983 | 6,834 | 4,890 | 2,465 | 3,040 |
Overseas subsidiaries | ||||||||
(6 companies) Asia | 37,981 | 45,464 | 21,521 | 30,832 | 32,124 | 38,409 | 15,247 | 18,276 |
(2 companies) Hawaii | 16,947 | 25,306 | 12,237 | 10,353 | 13,634 | 17,373 | 8,198 | 8,363 |
Overseas subsidiaries total (8 companies)
54,929 70,770 33,759
45,758 55,783
23,446
Overseas Total | Asia | 40,616 | 47,869 | 23,439 | 32,872 | 34,634 | 39,943 | 16,064 | 19,511 |
[Kinden (Overseas) + Overseas subsidiaries] | Hawaii and Guam | 20,907 | 27,538 | 13,195 | 11,296 | 17,958 | 20,730 | 9,847 | 10,168 |
Other areas | 0 | - | - | - | - | - | - | - | |
Total | 61,523 | 75,407 | 36,635 | 44,169 | 52,592 | 60,673 | 25,912 | 29,680 | |
Overseas ratio | 9.0% | 9.9% | 8.1% | 7.8% | 7.9% | 8.4% | 8.5% | 9.0% | |
Kinden + Subsidiaries Total (Before adjustment for inter-group transactions) | 684,646 | 763,758 | 449,900 | 565,778 | 669,186 | 721,666 | 304,422 | 328,281 |
FY2025 1H FY2026 1H
FY2025
0
(Millions of yen) FY2024
Hawaii and Guam
10,000
Hawaii and Guam
20,000
Asia
30,000
36,635
40,000
44,169
Asia
60,000
50,000
Hawaii and Guam
Other areas
61,523
70,000
Asia
75,407
80,000
Overseas (New Orders by Region)
FY2025 1H FY2026 1H
FY2025
0
(Millions of yen) FY2024
Hawaii and Guam
Hawaii and Guam
10,000
Asia
20,000
29,680
25,912
30,000
Asia
50,000
40,000
52,592
Other areas
60,000
60,673
Hawaii and Guam
70,000
Asia
Overseas (Net Sales by Region)
80,000
Notes:
Domestic subsidiaries related to Nishihara Engineering Company, Limited (Nishihara Engineering Co., Ltd., Nishihara Construction Co., Ltd.) Domestic subsidiaries related to electrical business (Kinden Tokyo Service Company, Incorporated, Kinden Chubu Service Company, Incorporated, Kinden Kansai Service Company, Incorporated, Kinden Nishinihon Service Company, Incorporated, Daito Denki Kouji Co., Ltd., KITA KOUDENSHA Corporation)
Domestic subsidiaries related to wind power generation business (Shirama Wind Farm Co., Ltd., Shiratakiyama Wind Farm Co., Ltd.)
Other domestic subsidiaries (Kinden Services Company, Incorporated, Kinden Shoji Company, Limited, KINDENSPINET CORPORATION, FEN Co., Ltd.)
Overseas subsidiaries:
Asia (Kinden Vietnam Co., Ltd., Kinden (Thailand) Co., Ltd., P.T. Kinden Indonesia, Kinden Phils Corporation, Antelec Private Ltd., International Electro-Mechanical Services Co. (L.L.C.))
Hawaii (US Kinden Corporation, Wasa Electrical Services, Inc.)
Construction Orders
1H
Full year | |||||
FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
(Forecast) | |||||
FY2025 1H | FY2026 1H | Change | % Change |
(Millions of yen)
① Construction Orders by Customer
The Kansai Electric Power
Company, Incorporated* | 74,405 | 82,079 | 84,416 | 85,054 | 83,000 | 42,970 | 46,404 | 3,434 | 8.0% |
The Kansai Electric Power Group | 22,534 | 18,009 | 16,226 | 17,534 | 18,000 | 8,238 | 10,166 | 1,927 | 23.4% |
Others | 429,058 | 458,231 | 459,773 | 516,571 | 489,000 | 327,691 | 404,317 | 76,626 | 23.4% |
[Public offices (Reissued)] (15,557) (16,067) (12,294) (24,985) | (9,027) | (5,071) | (3,955) | (43.8%) | |||||
Total | 525,998 | 558,320 | 560,416 | 619,160 | 590,000 | 378,900 | 460,889 | 81,988 | 21.6% |
* Includes Kansai Transmission and Distribution, Inc.
② Construction Orders by Operation
Power Distribution Lining | 68,019 | 73,485 | 72,957 | 78,384 | 75,000 | 39,805 | 41,376 | 1,570 | 3.9% |
Electrical Information & | 326,958 | 364,940 | 368,922 | 421,762 | 379,000 | 263,929 | 319,466 | 55,536 | 21.0% |
Communications Network Environmental Management | 60,710 | 55,747 | 44,715 | 43,810 | 44,000 | 24,324 | 30,511 | 6,186 | 25.4% |
Facilities | 43,965 | 47,843 | 52,097 | 49,618 | 54,000 | 32,171 | 34,014 | 1,842 | 5.7% |
Electric Power & Others 26,344 16,304 21,723 25,585 38,000 | 18,669 | 35,520 | 16,851 | 90.3% | |||||
Total | 525,998 | 558,320 | 560,416 | 619,160 | 590,000 | 378,900 | 460,889 | 81,988 | 21.6% |
③ Renewal Construction (Excluding Power Distribution Lining)
Electrical Information & | 142,849 | 146,684 | 153,994 | 188,444 | 108,704 | 145,999 | 37,295 | 34.3% | |
Communications Network Environmental Management | 23,839 | 22,109 | 15,960 | 20,966 | 11,491 | 13,994 | 2,502 | 21.8% | |
Facilities | 7,637 | 9,506 | 10,618 | 9,868 | 5,076 | 8,260 | 3,183 | 62.7% | |
Electric Power & Others 5,776 8,426 11,066 6,185 | 2,940 | 4,569 | 1,628 | 55.4% | |||||
Total | 180,102 | 186,727 | 191,640 | 225,465 | 215,000 | 128,213 | 172,824 | 44,611 | 34.8% |
Others
0
The Kansai Electric Power Company, Incorporated* The Kansai Electric Power Group
(Millions of yen)
FY2026 1H
100,000
FY2026
(Forecast)
200,000 FY2025 1H
FY2025
300,000
FY2024
400,000
FY2022
FY2023
Construction Orders by Customer
600,000
500,000
Communications Network Management Facilities
(Millions of yen)
Environmental Electric Power & Others
Information &
Electrical
Power Distribution Lining
0
FY2026 1H
100,000
200,000 FY2026
(Forecast) FY2025 1H
FY2024
FY2025
300,000
FY2022
FY2023
400,000
Construction Orders by Operation
500,000
Full year
④ Construction Orders by Region (Millions of yen)
1H
FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
(Forecast) |
FY2025 1H | FY2026 1H | Change | % Change |
Excluding Power Distribution Lining
Hokkaido and Tohoku Kanto and Tokyo | 25,064 | 29,728 | 26,790 | 29,572 | 18,219 | 34,073 | 15,853 | 87.0% | |
metropolitan area | 141,598 | 145,758 | 142,061 | 161,182 | 91,728 | 124,592 | 32,864 | 35.8% | |
Chubu | 46,860 | 48,783 | 57,885 | 57,655 | 32,761 | 41,197 | 8,435 | 25.7% | |
Kinki Chugoku, Shikoku and | 185,553 | 201,868 | 202,635 | 228,556 | 153,686 | 179,322 | 25,635 | 16.7% | |
Kyushu | 51,257 | 50,838 | 51,491 | 59,173 | 39,823 | 37,343 | (2,480) | (6.2%) | |
Overseas | 7,644 | 7,858 | 6,594 | 4,636 | 2,875 | 2,983 | 107 | 3.8% | |
Power Distribution Lining | 68,019 | 73,485 | 72,957 | 78,384 | 39,805 | 41,376 | 1,570 | 3.9% | |
Total | 525,998 | 558,320 | 560,416 | 619,160 | 590,000 | 378,900 | 460,889 | 81,988 | 21.6% |
(Millions of yen) (Excluding Power Distribution Lining)
Power Distribution Lining
Overseas
Chugoku, Shikoku and Kyushu
Kinki
Chubu
Kanto and Tokyo metropolitan area
Hokkaido and Tohoku
0
50,000
FY2022
FY2023 FY2024 FY2025 FY2025 1H FY2026 1H
150,000
100,000
200,000
250,000
⑤ Construction Orders by Operation
Power Distribution Lining (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
The Kansai Electric Power Company, Incorporated Other Power Distribution
65,453 69,711 69,787 74,972 72,000 37,399
FY2026 1H 39,460
Change
%
Change
2,061 5.5%
Lining 2,565 3,773 3,170 3,411 3,000 2,406
Total 68,019 73,485 72,957 78,384 75,000 39,805
1,915
41,376
(490) (20.4%)
1,570 3.9%
Note: "Other Power Distribution Lining" includes C.C.Box and Information Box, power distribution-related construction of The Kansai Electric Power Company, Incorporated, electric water heater installation, NTT telegraph pole installation, and others.
1H
Electrical (By Facility) (Millions of yen)
Full year
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
Change
%
Change
Office buildings Commercial and entertainment facilities
Healthcare facilities Educational and cultural
facilities
128,559 160,064 146,445 154,364
FY2026 1H
94,580 159,333
64,752
68.5%
17,202
11,464
19,793
8,091
2,590
(3,372)
15.1%
(29.4%)
27,377
1,198
69,775
25,155
9,979
7,194
263,929
18,266
1,558
68,853
28,085
8,985
6,499
319,466
(9,111)
360
(922)
2,929
(994)
(695)
55,536
(33.3%)
30.1%
(1.3%)
11.6%
(10.0%)
(9.7%)
21.0%
35,050 37,565 36,543 32,069
16,951 11,164 23,181 13,351
21,554 23,385 19,669 31,635
Residences 2,422 1,812 2,550 1,696
Factories 65,803 81,376 87,008 124,313
Logistics facilities 32,061 29,008 26,533 31,259
Others 16,737 11,010 17,634 21,988
Interior constructions 7,819 9,550 9,355 11,082
Total 326,958 364,940 368,922 421,762 379,000
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
FY2022
FY2023 FY2024 FY2025 FY2025 1H FY2026 1H
Office buildings Commercial and Healthcare Educational and Residences Factories Logistics facilities Others
entertainment facilities
facilities
cultural facilities
Interior
constructions
(Millions of yen)
FY2026 1H
Manufacturing
Transport machines and equipment
Electrical / precision machinery and instruments
Food Chemical
Pharmaceutical Other manufacturing
Service Real estate
Transportation and
communication Commerce Others
Total
81,057
102,803
113,747
151,038
89,689
84,815
(4,874)
(5.4%)
10,680
16,671
20,608
27,685
14,643
12,239
(2,404)
(16.4%)
14,172
8,030
9,265
6,999
31,909
47,099
44,447
23,145
6,271
8,470
10,527
37,715
57,688
57,833
20,577
11,571
10,211
7,900
42,878
58,695
41,696
42,892
10,491
10,432
22,719
36,817
62,109
55,923
20,342
7,883
7,560
14,436
24,823
46,807
38,255
18,780
7,865
7,801
7,246
30,882
59,327
40,886
(1,562)
(18)
241
(7,190)
6,059
12,520
2,631
(7.7%)
(0.2%)
3.2%
(49.8%)
24.4%
26.7%
6.9%
54,494
17,882
81,976
326,958
38,831
18,495
89,288
364,940
35,958
15,293
103,531
368,922
44,223
14,303
94,163
421,762
379,000
26,481
9,840
52,855
263,929
35,172
23,109
76,155
319,466
8,691
13,268
23,299
55,536
32.8%
134.8%
44.1%
21.0%
Electrical (By Customer's Industry) (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
Change
%
Change
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
FY2022
FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
Manufacturing Service Real estate
(Millions of yen)
Transportation and communication
Commerce
Others
Instrumentation LAN and others
Local area network total
4,125
6,573
7,043
7,777
4,867
5,954
7,977
8,508
6,500
9,700
FY2026 1H
4,115 6,225
5,516 9,609
2,109
4,092
51.3%
74.2%
10,699
14,821
10,821
16,486
16,200
9,632
15,834
6,202
64.4%
Information & Communications Network (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
Change
%
Change
Business communication networks by The Kansai Electric Power Company, Incorporated
Excluding The Kansai Electric Power Company, Incorporated
FTTH and others others
CATV
Others
Broadband network total
1,691
1,985
1,621
1,630
1,500
747
714
(33)
(4.5%)
15,132
18,337
11,690
3,158
50,010
13,969
16,561
3,929
4,480
40,926
13,334
14,485
3,129
1,321
33,893
13,113
8,816
3,026
737
27,324
13,000
9,400
2,900
1,000
27,800
6,539
4,698
1,456
1,250
14,692
6,498
4,377
2,267
818
14,676
(40)
(320)
810
(432)
(16)
(0.6%)
(6.8%)
55.7%
(34.5%)
(0.1%)
Total
60,710
55,747
44,715
43,810
44,000
24,324
30,511
6,186
25.4%
20,000
15,000
10,000
5,000
0
Instrumentation
LAN and others
Business FTTH and others Mobile phone and
CATV
Others
communication networks by The Kansai Electric Power Company, Incorporated
others
FY2022
FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
(Millions of
Office buildings
Commercial and entertainment facilities
Healthcare facilities
Educational and cultural facilities Residences
Factories
Logistics facilities Others
Total
6,808
6,660
12,552
7,113
FY2026 1H
2,990 4,349
1,359
45.5%
14,112
2,491
2,531
548
5,499
9,959
2,014
43,965
13,971
2,547
8,156
1,987
6,247
7,647
626
47,843
7,925
2,153
5,577
731
7,885
10,892
4,379
52,097
7,252
7,295
4,334
92
12,546
9,422
1,560
49,618
54,000
5,667
6,052
2,976
61
10,711
3,287
423
32,171
5,460
3,944
2,779
2,630
3,823
10,501
525
34,014
(207)
(2,108)
(196)
2,568
(6,888)
7,213
101
1,842
(3.7%)
(34.8%)
(6.6%)
-(64.3%)
219.4%
24.0%
5.7%
Environmental Management Facilities (By Facility) (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
Change
%
Change
(Millions of yen)
cultural facilities
entertainment facilities
FY2026 1H
Others
Logistics facilities
Factories
Residences
Office buildings Commercial and Healthcare facilities Educational and
0
FY2022
FY2023 FY2024 FY2025 FY2025 1H
10,000
5,000
15,000
（ｆ） Electric Power & Others (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
Change
%
Change
Overhead power lining Underground power lining Power plants and substations* Others
Total
2,354
2,226
21,233
529
26,344
5,534
2,636
7,406
726
16,304
7,920
3,480
9,478
844
21,723
3,073
2,851
17,939
1,720
25,585
4,000
2,500
31,000
500
38,000
1,510
1,328
14,420
1,409
18,669
2,527
2,346
30,361
284
35,520
1,017
1,018
15,940
(1,125)
16,851
67.4%
76.6%
110.5%
(79.8%)
90.3%
FY2026 1H
* Includes solar and wind power plants, etc.
5,743
29,777
The Kansai Electric Power
Company, Incorporated*
6,150 9,266 12,224 6,773 9,500 3,496
2,246 64.3%
Others 20,193 7,037 9,498 18,811 22,500 15,172
* Includes Kansai Transmission and Distribution, Inc.
14,604 96.3%
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
FY2022
FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
(Millions of yen)
Overhead power lining Underground power lining
Others
40,000
30,000
20,000
10,000
0
FY2022
FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
Power plants and substations (including
(Millions of yen)solar and wind power plants, etc.)
Net Sales of Completed Construction Contracts
(Millions of yen)
Full year
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
1H
FY2025 1H
FY2026 1H
Change
%
Change
① Sales of Completed Construction Contracts by Customer
The Kansai Electric Power
Company, Incorporated*
74,825
78,492
81,542
85,302
83,000
40,264
43,276
3,012
7.5%
The Kansai Electric Power
Group
22,109
18,420
16,499
16,117
16,000
7,661
10,387
2,726
35.6%
Others
396,788
427,319
461,912
494,497
516,000
207,982
213,775
5,793
2.8%
[Public offices (Reissued)] (14,133) (10,266) (16,073) (15,731)
(4,610)
(5,014)
(404)
8.8%
Total
493,724
524,233
559,954
595,918
615,000
255,908
267,440
11,532
4.5%
* Includes Kansai Transmission and Distribution, Inc.
② Sales of Completed Construction Contracts by Operation
Power Distribution Lining
66,480
70,375
73,969
77,150
77,000
35,910
38,594
2,684
7.5%
Electrical Information &
309,292
329,873
372,944
404,667
416,000
170,830
172,912
2,082
1.2%
Communications Network Environmental Management
56,143
53,003
52,032
44,594
47,000
17,321
20,126
2,805
16.2%
Facilities
36,136
45,344
41,421
49,186
52,000
21,748
25,106
3,358
15.4%
Electric Power & Others 25,671 25,636 19,586 20,319 23,000
10,097
10,699
602
6.0%
Total
493,724
524,233
559,954
595,918
615,000
255,908
267,440
11,532
4.5%
8
③ Renewal Construction (Excluding Power Distribution Lining)
Electrical Information &
136,678
142,129
150,543
159,413
58,568
74,842
16,273
27.8%
Communications Network Environmental Management
20,667
19,281
21,909
19,931
6,419
9,422
3,003
46.8%
Facilities
8,537
7,632
8,383
9,941
4,297
4,571
273
6.4%
Electric Power & Others 8,509 7,941 7,432 8,026
3,632
3,749
117
3.2%
Total
174,392
176,984
188,268
197,313
205,000
72,918
92,586
19,668
27.0%
Others
The Kansai Electric Power Group
The Kansai Electric Power Company, Incorporated*
0
(Millions of yen)
FY2026 1H
100,000
FY2026
(Forecast) FY2025 1H
200,000
FY2022 FY2023 FY2024
FY2025
Sales of Completed Construction Contracts by Customer
600,000
500,000
400,000
300,000
Communications Network Management Facilities
Environmental Electric Power & Others
Information &
Electrical
Power Distribution Lining
0
(Millions of yen)
FY2026
(Forecast) FY2025 1H
FY2026 1H
200,000
100,000
FY2024
FY2025
300,000
FY2022
FY2023
Sales of Completed Construction Contracts by Operation
500,000
400,000
1H
Full year | |||||
FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
(Forecast) | |||||
FY2025 1H | FY2026 1H | Change | % Change |
④ Sales of Completed Construction Contracts by Region (Millions of yen)
Excluding Power Distribution Lining
Hokkaido and Tohoku Kanto and Tokyo | 24,177 | 23,717 | 31,992 | 30,128 | 14,243 | 13,883 | (360) | (2.5%) | |
metropolitan area 140,704 | 140,268 | 150,332 | 161,519 | 69,258 | 63,961 | (5,297) | (7.6%) | ||
Chubu 41,661 | 46,303 | 51,339 | 58,089 | 25,592 | 25,626 | 33 | 0.1% | ||
Kinki 166,158 Chugoku, Shikoku and | 188,442 | 198,514 | 207,415 | 84,553 | 99,170 | 14,617 | 17.3% | ||
Kyushu 47,806 | 49,554 | 46,970 | 56,725 | 23,884 | 23,164 | (720) | (3.0%) | ||
Overseas 6,735 | 5,572 | 6,834 | 4,890 | 2,465 | 3,040 | 574 | 23.3% | ||
Power Distribution Lining 66,480 | 70,375 | 73,969 | 77,150 | 35,910 | 38,594 | 2,684 | 7.5% | ||
Total 493,724 | 524,233 | 559,954 | 595,918 | 615,000 | 255,908 | 267,440 | 11,532 | 4.5% | |
220,000
200,000
180,000
160,000
140,000
120,000
100,000
80,000
FY2022
FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
60,000
40,000
20,000
0
Hokkaido and Tohoku
Kanto and Tokyo metropolitan area
Chubu
Kinki
Chugoku, Shikoku
Overseas
(Millions of yen)
and Kyushu
Power Distribution Lining
(Excluding Power Distribution Lining)
⑤ Sales of Completed Construction Contracts by Operation
Power Distribution Lining (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
The Kansai Electric Power Company, Incorporated Other Power Distribution
64,198 67,949 70,208 72,914 72,000 34,714
FY2026 1H
FY2025 1H
Change
37,570
%
Change
2,856 8.2%
Lining 2,281 2,425 3,761 4,235 5,000 1,195
Total 66,480 70,375 73,969 77,150 77,000 35,910
1,024
38,594
(171) (14.3%)
2,684 7.5%
Note: "Other Power Distribution Lining" includes C.C.Box and Information Box, power distribution-related construction of The Kansai Electric Power Company, Incorporated, electric water heater installation, NTT telegraph pole installation, and others.
1H
Electrical (By Facility) (Millions of yen)
Full year
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
FY2026 1H
76,572 70,110
(6,461)
(8.4%)
16,888
6,718
12,180
5,336
(4,708)
(1,381)
(27.9%)
(20.6%)
9,877
461
35,620
12,805
7,826
4,059
170,830
12,575
703
44,716
17,959
4,606
4,722
172,912
2,697
242
9,096
5,154
(3,220)
663
2,082
27.3%
52.4%
25.5%
40.2%
(41.1%)
16.3%
1.2%
Change
%
Change
Office buildings 112,349 118,286 166,478 168,628 Commercial and
entertainment facilities
Healthcare facilities Educational and cultural facilities
32,905 40,964 34,515 38,966
12,735 14,634 15,466 15,661
19,268 19,303 22,858 25,095
Residences 7,642 1,833 2,347 2,101
Factories 62,951 73,324 82,250 94,524
Logistics facilities 35,764 36,930 27,519 29,736
Others 18,819 14,652 11,622 19,838
Interior constructions 6,855 9,944 9,886 10,114
Total 309,292 329,873 372,944 404,667 416,000
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
FY2022
FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
Office buildings Commercial and Healthcare Educational and Residences entertainment facilities cultural facilities
facilities
Factories Logistics facilities
Others
Interior constructions
(Millions of yen)
Manufacturing
Transport machines and equipment Electrical/precision machinery and instruments
Food Chemical
Pharmaceutical Other manufacturing
Service
Real estate Transportation and communication
Commerce
Others Total
75,546
91,283
105,655
120,168
FY2026 1H
47,142 59,847
12,704
26.9%
8,180
13,320
17,564
26,646
12,060
10,462
(1,598)
(13.3%)
16,314
8,075
8,138
6,163
28,673
55,955
53,565
19,413
8,424
8,428
8,692
33,004
46,330
52,972
23,116
7,029
9,509
9,561
38,874
60,223
56,310
21,276
8,601
11,241
10,702
41,700
56,054
43,115
6,279
3,577
4,775
2,194
18,255
24,628
15,917
13,007
6,440
5,675
8,165
16,096
22,416
24,071
6,727
2,863
900
5,971
(2,159)
(2,212)
8,154
107.1%
80.0%
18.9%
272.1%
(11.8%)
(9.0%)
51.2%
30,901
10,821
82,502
309,292
32,674
16,129
90,482
329,873
38,824
16,199
95,732
372,944
56,360
19,994
108,973
404,667
416,000
23,234
10,505
49,401
170,830
22,954
7,377
36,245
172,912
(279)
(3,128)
(13,156)
2,082
(1.2%)
(29.8%)
(26.6%)
1.2%
Electrical (By Customer's Industry) (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
Change
%
Change
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
FY2022
FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
Manufacturing Service Real estate
(Millions of yen)
Transportation and communication
Commerce
Others
Instrumentation
LAN and others
Local area network total
4,879
5,844
10,724
4,116
5,901
10,017
5,426
8,377
13,804
6,380
6,711
13,092
7,300
8,000
15,300
FY2026 1H
2,083 3,911
2,207 3,407
4,291 7,318
1,827
1,199
3,027
87.7%
54.4%
70.6%
Information & Communications Network (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
Change
%
Change
Business communication
networks by The Kansai Electric Power Company, Incorporated
Excluding The Kansai Electric Power Company, Incorporated
FTTH and others
Mobile phone and others CATV
Others
Broadband network total
1,676
1,931
1,612
1,656
1,500
658
669
11
1.7%
15,299
18,074
7,273
3,094
45,418
14,036
17,405
7,942
1,671
42,986
13,318
14,926
6,749
1,620
38,227
13,206
10,415
3,729
2,495
31,502
12,800
10,100
2,700
4,600
31,700
6,475
4,048
1,008
839
13,030
6,329
3,599
1,323
885
12,807
(146)
(448)
315
46
(222)
(2.3%)
(11.1%)
31.2%
5.5%
(1.7%)
Total
56,143
53,003
52,032
44,594
47,000
17,321
20,126
2,805
16.2%
20,000
15,000
10,000
5,000
0
Instrumentation
(Millions of yen)
LAN and others Business FTTH and others communication
networks by The Kansai Electric Power Company, Incorporated
Mobile phone and others
CATV
Others
FY2022 FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
Office buildings
Commercial and entertainment facilities
Healthcare facilities
Educational and cultural facilities Residences
Factories
Logistics facilities Others
Total
6,344
5,907
5,056
7,973
FY2026 1H
2,647 6,374
3,726
140.8%
8,028
3,210
4,038
1,884
5,094
6,648
887
36,136
14,583
2,246
5,668
792
6,781
9,184
179
45,344
10,811
2,166
6,320
1,787
4,799
9,682
798
41,421
10,745
3,220
4,662
463
9,690
9,444
2,985
49,186
52,000
5,685
1,934
1,759
235
4,173
3,720
1,592
21,748
3,028
2,294
1,630
176
6,134
4,414
1,052
25,106
(2,657)
360
(128)
(58)
1,961
694
(539)
3,358
(46.7%)
18.6%
(7.3%)
(24.9%)
47.0%
18.7%
(33.9%)
15.4%
Environmental Management Facilities (By Facility) (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
Change
%
Change
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Office buildings Commercial and Healthcare facilities Educational and
Residences
Factories
Logistics facilities
Others
FY2022 FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
entertainment cultural facilities facilities
(Millions of yen)
Electric Power & Others (Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
Change
%
Change
Overhead power lining
Underground power lining Power plants and substations* Others
Total
5,821
2,057
16,904
888
25,671
4,367
2,459
17,709
1,100
25,636
4,662
3,089
10,860
974
19,586
5,127
3,254
10,216
1,721
20,319
4,900
2,300
14,300
1,500
23,000
2,619
1,599
5,466
411
10,097
2,868
1,686
5,957
187
10,699
249
86
490
(223)
602
9.5%
5.4%
9.0%
(54.5%)
6.0%
FY2026 1H
* Includes solar and wind power plants, etc.
4,657
6,042
The Kansai Electric Power
Company, Incorporated*
8,592 7,780 8,553 9,214 9,200 4,354
302 6.9%
Others 17,079 17,855 11,032 11,104 13,800 5,742
* Includes Kansai Transmission and Distribution, Inc.
299 5.2%
6,000
5,000
4,000
3,000
2,000
1,000
0
(Millions of yen) Overhead power lining
FY2022 FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
Underground power lining
Others
20,000
15,000
10,000
5,000
0
FY2022 FY2023 FY2024 FY2025 FY2025 1H
FY2026 1H
Power plants and substations (including
(Millions of yen)
solar and wind power plants, etc.)
Contract Backlog by Operation at the End of Period
As of Mar. 31
As of Mar. 31,
2022
As of Mar. 31,
2023
As of Mar. 31,
2024
As of Mar. 31,
2025
As of Mar. 31, 2026
(Forecast)
By Operation
As of Sep. 30 As of
Sep. 30, %
2024 Change Change
As of
Sep. 30,
2025
(Millions of yen)
Power Distribution | |||||||||
Lining | 11,191 | 14,301 | 13,289 | 14,523 | 12,520 | 17,184 | 17,304 | 120 | 0.7% |
Electrical Information & | 304,067 | 339,134 | 335,112 | 352,206 | 315,220 | 428,211 | 498,761 | 70,549 | 16.5% |
Communications Network | 21,180 | 23,924 | 16,607 | 15,823 | 12,820 | 23,610 | 26,208 | 2,597 | 11.0% |
Environmental Management Facilities | 37,013 | 39,513 | 50,189 | 50,621 | 52,620 | 60,612 | 59,528 | (1,083) | (1.8%) |
Electric Power & | |||||||||
Others 40,858 31,526 33,664 38,929 53,920 | 42,235 | 63,750 | 21,514 | 50.9% | |||||
Total | 414,312 | 448,400 | 448,862 | 472,105 | 447,100 | 571,855 | 665,553 | 93,698 | 16.4% |
700,000
600,000
Power Distribution Lining
Electrical
500,000
Information & Communications
400,000 Network
Environmental Management
Facilities
300,000 Electric Power &
Others
200,000
100,000
0
As of Mar. 31,
(Millions of yen) 2022
As of Mar. 31,
2023
As of Mar. 31,
2024
As of As of Mar. 31,
Mar. 31,
2025
2026
(Forecast)
As of As of
Sep. 30, Sep. 30,
2024 2025
Renewable Energy-related Construction
(Billions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2025 1H FY2026 1H
Construction orders 19.0 3.5 10.0
Net sales of
12.4
11.0 11.5
completed
construction
contracts 15.6 16.2 8.3
9.5
5.6 5.6
Contract backlog at
the end of period 28.6 15.9 17.6
20.5
23.0 26.4
(Reissued) Wind Power Plant Construction
Full year
1H
FY2022 FY2023 FY2024
FY2025
FY2025 1H FY2026 1H
Construction orders
10.7
1.3
4.7
10.3
10.0
9.7
Net sales of
completed
construction
contracts
6.6
2.4
3.7
5.3
2.9
4.7
Contract backlog at
the end of period
14.1
13.0
14.0
19.0
21.1
23.9
* Renewable energy-related construction work: Wind, solar, biomass, and geothermal power plant construction
Selling, General and Administrative Expenses
(Millions of yen)
Full year
1H
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1H
FY2026 1H
Change
%
Chang
Personnel expenses
30,415
30,725
32,032
35,528
38,100
16,371
18,872
2,501
15.3%
Fixed assets expenses
8,209
8,499
8,768
9,357
10,000
4,757
5,120
362
7.6%
Other expenses
9,282
11,150
12,338
14,101
15,400
6,924
7,700
775
11.2%
Total
47,907
50,375
53,139
58,987
63,500
28,053
31,693
3,639
13.0%
R&D expenses
(Reissued)
651
670
649
705
890
346
470
123
35.8%
70,000
60,000
50,000
40,000
30,000
Personnel expenses Fixed assets expenses
Other expenses
20,000
10,000
0
FY2022 FY2023 FY2024
(Millions of yen)
FY2025 FY2026
(Forecast)
FY2025 1H FY2026 1H
As of Mar. 31
As of Mar. 31, 2022
As of Mar. 31, 2023
As of Mar. 31, 2024
As of Mar. 31, 2025
As of Mar. 31, 2026
(Forecast)
Non-Consolidated 8,185
8,328
8,493 8,630
14
8,825
Number of Employees
As of Sep. 30
Change from Mar.
31, 2025
8,970 340
As of Sep. 30, 2025
Shareholders
Number of Shareholders by Type
As of Mar. 31, 2024
As of Mar. 31, 2025
As of Sep. 30, 2025
Shareholders | Number of shareholders | Shareholding ratio | Number of shareholders | Shareholding ratio | Number of shareholders | Shareholding ratio | ||||
Individuals/ Others | 7,654 | 93.8% | 16.59% | 7,668 | 94.0% | 16.31% | 8,647 | 93.9% | 16.52% | |
Corporations | 205 | 2.5% | 55.12% | 201 | 2.4% | 57.66% | 230 | 2.5% | 58.18% | |
Overseas | ||||||||||
corporations, | ||||||||||
etc. | 300 3.7% | 28.29% | 292 3.6% | 26.03% | 329 3.6% | 25.30% | ||||
Total | 8,159 100.0% | 100.00% | 8,161 100.0% | 100.00% | 9,206 100.0% | 100.00% | ||||
Corporations
58.18%
Corporations
57.66%
Corporations
55.12%
Individuals/
Others 16.52%
Overseas
corporations, etc.
25.30%
Individuals/
Others 16.31%
Overseas
corporations, etc.
26.03%
Individuals/
Others 16.59%
Overseas
corporations, etc.
28.29%
As of Sep. 30, 2025
As of Mar. 31, 2025
Shareholding ratio
As of Mar. 31, 2024
Note: Treasury stock is included in "Individuals/Others". (Shareholding ratio of treasury stock at the end of Sep. 30, 2025: 0.74%)
Major Shareholders (Top10)
As of Mar. 31, 2024
As of Mar. 31, 2025
As of Sep. 30, 2025
Rank
Shareholders
Shareholding ratio
Shareholders
Shareholding ratio
Shareholders
Shareholding ratio
The Kansai Electric | The Kansai Electric | The Kansai Electric | |||
1 Power Company, Incorprated | 29.26% | Power Company, Incorprated | 29.64% | Power Company, Incorprated | 29.68% |
The Master Trust Bank of | The Master Trust Bank of | The Master Trust Bank of | |||
2 Japan, Ltd. (Account in Trust) | 9.26% | Japan, Ltd. (Account in Trust) | 11.20% | Japan, Ltd. (Account in Trust) | 11.00% |
3 Kanden Realty & | 7.21% Kanden Realty & | 7.30% Kanden Realty & 7.31% Development Co., Ltd. | |||
4 Employee Stock | 4.61% Employee Stock | 4.55% Employee Stock 4.90% Ownership Plan | |||
Development Co., Ltd. Development Co., Ltd.
Ownership Plan
5
NORTHERN TRUST CO.(AVFC)RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST
6
Custody Bank of Japan, Ltd. (Account in Trust)
3.76%
3.07%
Ownership Plan
Custody Bank of Japan, Ltd. (Account in Trust)
STATE STREET BANK AND TRUST COMPANY 505001
3.41%
2.38%
Custody Bank of Japan, Ltd.
(Account in Trust) STATE STREET BANK AND TRUST
COMPANY 505001
3.53%
2.27%
NORTHERN TRUST CO. 7 (AVFC)RE U.S.TAX 1.70% | JP MORGAN CHASE BANK 380055 | 1.36% | JP MORGAN CHASE BANK 380055 | 1.23% |
STATE STREET 8 BANK AND TRUST 1.47% COMPANY 505001 | GOVERNMENT OF NORWAY | 1.15% | BNYM AS AGT/CLTS 10 PERCENT | 1.02% |
9 NORTHERN TRUST CO. (AVFC) RE 1.44% | STATE STREET BANK AND TRUST | 1.08% | BBH(LUX) FOR FIDELITY FUNDS - JAPAN | 1.01% |
COMPANY 505103 | ADVANTAGE POOL | |||
10 JP MORGAN 1.30% CHASE BANK 380055 | J.P. MORGAN BANK LUXEMBOURG | 1.06% | STATE STREET BANK AND TRUST | 0.84% |
S.A. 384513 | COMPANY 505103 |
EXEMPTED PENSION FUNDS
NON TREATY CLIENTS ACCOUNT
Note: "Shareholding ratio" represents the ratio to the total number of shares issued (excluding treasury stock).
Treasury stock is excluded from the above list of major shareholders.
Shareholder Returns
Dividends and share buybacks will be paid in accordance with the policy outlined in the "Capital Policy in the Medium-term Management Plan" announced on January 31, 2025.
Dividends
400.00
350.00
300.00
250.00
200.00
150.00
100.00
50.00
0.00
(Yen)
Profit per share (consolidated) Cash dividends per share
Payout ratio (consolidated)38.1%
38.1%
36.8%
28.8%
28.5%
22.4%
325.65
120
236.26
90
156.46
35
128.65
37
140.15
40
165.34 63
FY2021 FY2022 FY2023 FY2024 FY2025 FY2026
(Forecast)
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
Acquisition of Treasury Stock
Maximum of 10 billion yen or 4.5 million shares
(Ratio to the total number of shares issued (excluding treasury stock): 2.26%) Period: February 3, 2025 to December 23, 2025
Cumulative total of treasury stock repurchased: 7,220 million yen (1,842,700 shares)
(As of September 30, 2025)
ROE
Consolidated
Non-Consolidated
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
(Forecast) | ||||||
Consolidated | 6.8% | 5.3% | 5.5% | 6.1% | 8.1% | 10.5% |
Non- Consolidated | 7.0% | 5.6% | 5.8% | 5.9% | 8.0% | 11.3% |
Disclaimer
This report is intended to provide information about the business performance of KINDEN CORPORATION and its subsidiaries and affiliates. It is not intended and should not be construed as an inducement to purchase or sell stock in the Company or its group companies. Statements in this document that are not recitations of historical or current fact are forward-looking statements based on current beliefs, estimates and expectations of management. Many factors that the Company is unable to predict with accuracy could cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements to reflect facts, circumstances or events that have occurred or changed after such statements have been made, and shall in no event be liable for any damages arising out of the use or interpretation of this material.