Performance for
the First Three Months of the Fiscal Year Ending March 2026
July 31, 2025
Kinden Corporation
Contents
Summary of Financial Results
Consolidated P1
Non-Consolidated P2
Business Overview by Region (Domestic/Overseas) P3
Business Overview (Non-Consolidated)
Construction Orders
Construction Orders by Customer P4
Construction Orders by Operation P4
Renewal Construction (Excluding Power Distribution Lining) P4
Construction Orders by Region P5
Construction Orders by Operation
(ａ) Power Distribution Lining P6
(ｂ) Electrical (By Facility) P6
(ｃ) Electrical (By Customer's Industry) P6
(ｄ) Information & Communications Network P7
(ｅ) Environmental Management Facilities (By Facility) P7
(ｆ) Electric Power & Others P7
Net Sales of Completed Construction Contracts
Sales of Completed Construction Contracts by Customer P8
Sales of Completed Construction Contracts by Operation P8
Renewal Construction (Excluding Power Distribution Lining) P8
Sales of Completed Construction Contracts by Region P9
Net Sales of Completed Construction Contracts by Operation
(ａ) Power Distribution Lining P10
(ｂ) Electrical (By Facility) P10
(ｃ) Electrical (By Customer's Industry) P10
(ｄ) Information & Communications Network P11
(ｅ) Environmental Management Facilities (By Facility) P11
(ｆ) Electric Power & Others P11
Contract Backlog by Operation at the End of Period P12
Selling, General and Administrative Expenses P13
Shareholder Returns
Dividends P14
Acquisition of Treasury Stock P14
ROE P14
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.
Consolidated (Millions of yen)
Full year First three months
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Net sales of completed construction contracts
654,516
705,058
730,000
133,244
141,412
8,167
6.1%
Gross profit on completed construction contracts
107,581
132,803
146,000
19,357
27,848
8,491
43.9%
Gross profit margin 16.4%
18.8%
20.0%
14.5%
19.7%
5.2
-
Selling, general and administrative expenses
64,903
71,823
79,000
17,393
20,604
3,211
18.5%
Operating profit
42,677
60,979
67,000
1,963
7,243
5,280
268.9%
Operating profit margin 6.5%
8.6%
9.2%
1.5%
5.1%
3.6
-
Ordinary profit
45,982
64,546
70,000
3,813
8,789
4,975
130.5%
Profit attributable to owners of parent
33,553
47,250
52,000
2,237
4,365
2,128
95.2%
Profit per share (yen)
165.34
236.26
263.28
11.14
22.01
10.87
As of
As of
As of
As of
Mar. 31,
Mar. 31,
Jun. 30,
Jun. 30,
2024
2025
2024
2025
Total assets
815,887
821,693
760,132
773,852
Total net assets
574,053
599,738
565,587
592,485
Equity ratio
70.3%
72.9%
74.3%
76.5%
Net assets per share (yen)
2,848.11
3,014.06
Net Sales of Completed Construction Contracts
800,000
700,000
600,000
500,000
400,000
705,058
300,000
200,000
133,244 141,412
100,000
0
FY2024 FY2025
FY2026
(Forecast)
FY2025 FY2026
1Q
1Q
(Millions of yen)
654,516
730,000
Operating Profit
Operating profit margin
80,000
9.2%
70,000
8.6%
60,000
6.5%
10.0%
9.0%
8.0%
7.0%
50,000
5.1%
40,000
30,000
60,979
67,000
20,000
1.5%
10,000
7,243
1,963
0
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
FY2024 FY2025 FY2026 FY2025 FY2026
(Forecast) 1Q 1Q
(Millions of yen)
42,677
Ordinary Profit
80,000
9.6%
Ordinary margin
9.2%
70,000
60,000
7.0%
6.2%
50,000
40,000
30,000
64,546
70,000
2.9%
20,000
45,982
10,000
8,789
3,813
0
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
FY2024 FY2025 FY2026 FY2025 FY2026
(Forecast) 1Q 1Q
(Millions of yen)
Profit Attributable to Owners of Parent
Net profit margin
80,000
70,000
60,000
7.1%
6.7%
50,000
5.1%
40,000
30,000
52,000
3.1%
20,000
47,250
33,553
1.7%
10,000
4,365
0
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
FY2024 FY2025 FY2026
(Forecast)
2,237
FY2025 FY2026 1Q 1Q
(Millions of yen)
Non-Consolidated (Millions of yen)
Full year First three months | ||||||||
FY2024 | FY2025 | FY2026 (Forecast) | FY2025 1Q | FY2026 1Q | Change | % Change | ||
Construction orders | 560,416 | 619,160 | 590,000 | 246,855 | 266,625 | 19,770 | 8.0% | |
Net sales of completed construction contracts | 559,954 | 595,918 | 610,000 | 113,529 | 117,290 | 3,761 | 3.3% | |
Gross profit on completed construction contracts | 87,662 | 111,374 | 123,500 | 16,825 | 24,062 | 7,237 | 43.0% | |
Gross profit margin | 15.7% | 18.7% | 20.2% | 14.8% | 20.5% | 5.7 | - | |
Selling, general and administrative expenses | 53,139 | 58,987 | 63,500 | 14,761 | 16,853 | 2,092 | 14.2% | |
Operating profit | 34,523 | 52,386 | 60,000 | 2,064 | 7,209 | 5,144 | 249.1% | |
Operating profit margin | 6.2% | 8.8% | 9.8% | 1.8% | 6.1% | 4.3 | - | |
Ordinary profit | 39,549 | 57,161 | 64,000 | 5,794 | 10,078 | 4,283 | 73.9% | |
Profit | 29,778 | 42,374 | 50,000 | 4,298 | 7,284 | 2,986 | 69.5% | |
Profit per share (yen) | 146.74 | 211.88 | 253.16 | 21.40 | 36.73 | 15.33 | ||
As of | As of | As of | As of | |||
Mar. 31, | Mar. 31, | Jun. 30, | Jun. 30, | |||
2024 | 2025 | 2024 | 2025 | |||
Total assets | 723,189 | 709,198 | 672,534 | 664,668 | ||
Total net assets | 520,706 | 533,471 | 513,529 | 530,038 | ||
Equity ratio | 72.0% | 75.2% | 76.4% | 79.7% | ||
Net assets per share (yen) | 2,586.84 | 2,684.14 |
Construction Orders
700,000
600,000
500,000
400,000
300,000
266,625
590,000
246,855
200,000
100,000
0
FY2024 FY2025
FY2026
(Forecast)
FY2025 FY2026
1Q
1Q
(Millions of yen)
560,416
619,160
Net Sales of Completed Construction Contracts
700,000
600,000
500,000
400,000
300,000
595,918 610,000
200,000
113,529 117,290
100,000
0
FY2024 FY2025 FY2026
(Forecast)
(Millions of yen)
FY2025 FY2026
1Q
1Q
559,954
Operating Profit
70,000
9.8%
Operating profit margin
8.8%
60,000
50,000
6.2%
6.1%
40,000
30,000 60,000
52,386
20,000
34,523
1.8%
10,000
7,209
2,064
0
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
FY2024 FY2025 FY2026 FY2025 FY2026
(Forecast) 1Q 1Q
(Millions of yen)
Profit
Net profit margin
70,000
60,000
8.2%
7.1%
50,000
6.2%
40,000
5.3%
30,000
3.8%
50,000
20,000
42,374
29,778
10,000
7,284
4,298
0
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
FY2024
(Millions of yen)
FY2025
FY2026
(Forecast)
FY2025 FY2026 1Q 1Q
Business Overview by Region (Domestic/Overseas)
(Millions of yen)
Company
Area
New Orders
Net Sales
Full year
First three months
Full year
First three months
FY2024
FY2025
FY2025 1Q
FY2026 1Q
FY2024
FY2025
FY2025 1Q
FY2026 1Q
Kinden Corporation 553,822
614,523
243,749
266,424
553,120
591,028
112,429
115,956
Domestic subsidiaries
Domestic subsidiaries related to Nishihara 39,726
43,768
12,641
10,471
32,586
39,245
5,665
5,679
Domestic subsidiaries related to electrical 11,596
10,806
2,738
11,308
10,510
11,392
1,739
4,684
Domestic subsidiaries related to wind power 2,995
2,524
605
627
2,995
2,524
605
627
Other domestic subsidiaries (4 companies) 14,981
16,727
3,801
5,155
17,381
16,801
3,303
3,197
Domestic subsidiaries total 69,300
73,827
19,786
27,562
63,473
69,964
11,313
14,188
Domestic
Engineering Company, Limited (2 companies) business (6 companies)
generation business (2 companies)
(14 companies)
Domestic Total
[Kinden + Domestic subsidiaries]
623,122
688,350
263,535
293,986
616,593
660,992
123,743
130,145
Domestic
ratio
91.0%
90.1%
92.4%
91.2%
92.1%
91.6%
91.1%
90.1%
Overseas
Kinden Corporation Asia
2,634
2,405
2,020
-
2,510
1,533
347
562
Guam
3,960
2,231
1,085
201
4,323
3,356
751
771
Other areas
0
-
0
-
-
-
-
-
Kinden (Overseas) total
6,594
4,636
3,106
201
6,834
4,890
1,099
1,333
Overseas subsidiaries
(6 companies) Asia
37,981
45,464
10,833
23,079
32,124
38,409
7,487
9,256
(2 companies) Hawaii
16,947
25,306
7,673
5,181
13,634
17,373
3,474
3,641
Overseas subsidiaries total
(8 companies)
54,929
70,770
18,506
28,261
45,758
55,783
10,961
12,897
Overseas Total
[Kinden (Overseas) + Overseas subsidiaries]
Asia
Hawaii and Guam
Other areas
40,616
20,907
0
47,869
27,538
-
12,854
8,758
0
23,079
5,383
-
34,634
17,958
-
39,943
20,730
-
7,835
4,226
-
9,818
4,412
-
Total
61,523
75,407
21,612
28,462
52,592
60,673
12,061
14,231
Overseas
ratio
9.0%
9.9%
7.6%
8.8%
7.9%
8.4%
8.9%
9.9%
Kinden + Subsidiaries Total
(Before adjustment for inter-group transactions)
684,646
763,758
285,148
322,449
669,186
721,666
135,804
144,376
Overseas (New Orders by Region)
80,000
75,407
Asia
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
61,523
Asia
Hawaii and Guam
Other areas
28,462
21,612
Hawaii and Guam
Asia
Hawaii and Guam
FY2024 FY2025 FY2025 FY2026
(Millions of yen) 1Q 1Q
Overseas (Net Sales by Region)
80,000
Asia
70,000
60,673
60,000
50,000
40,000
30,000
20,000
10,000
0
52,592
Asia
Hawaii and Guam
Other areas
Hawaii and Guam
12,061
14,231
Asia
Hawaii and Guam
FY2024 FY2025 FY2025 FY2026
(Millions of yen) 1Q 1Q
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
(Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
74,405
82,079
84,416
85,054
83,000
22,675
24,060
1,384
6.1%
22,534
18,009
16,226
17,534
18,000
4,565
6,605
2,039
44.7%
Construction Orders by Customer
The Kansai Electric Power Company, Incorporated*
The Kansai Electric Power Group
Others
429,058
458,231
459,773
516,571
489,000
219,614
235,960
16,345
7.4%
[Public offices (Reissued)]
[15,557]
[16,067]
[12,294]
[24,985]
[5,803]
[2,758]
[(3,045)]
(52.5)%
Total
525,998
558,320
560,416
619,160
590,000
246,855
266,625
19,770
8.0%
* Includes Kansai Transmission and Distribution, Inc.
Construction Orders by Operation
Power Distribution Lining
68,019
73,485
72,957
78,384
75,000
20,426
21,774
1,347
6.6%
Electrical
326,958
364,940
368,922
421,762
379,000
177,857
175,947
(1,910)
(1.1)%
Information & Communications Network
60,710
55,747
44,715
43,810
47,000
13,077
15,506
2,429
18.6%
Environmental Management Facilities
43,965
47,843
52,097
49,618
57,000
19,980
22,865
2,885
14.4%
Electric Power & Others
26,344
16,304
21,723
25,585
32,000
15,513
30,530
15,017
96.8%
Total
525,998
558,320
560,416
619,160
590,000
246,855
266,625
19,770
8.0%
Renewal Construction (Excluding Power Distribution Lining)
Electrical
142,849
146,684
153,994
188,444
62,747
86,483
23,736
37.8%
Information & Communications Network
23,839
22,109
15,960
20,966
6,162
7,400
1,237
20.1%
Environmental Management Facilities
7,637
9,506
10,618
9,868
2,991
3,516
524
17.5%
Electric Power & Others
5,776
8,426
11,066
6,185
2,048
1,958
(90)
(4.4)%
Total
180,102
186,727
191,640
225,465
215,000
73,950
99,358
25,408
34.4%
Construction Orders by Customer
600,000
500,000
400,000
300,000
200,000
100,000
FY2022 FY2023 FY2024 FY2025
FY2026 (Forecast)
FY2025 1Q FY2026 1Q
0
The Kansai Electric Power Company,
Incorporated*
(Millions of yen)
The Kansai Electric Power Group
Others
Construction Orders by Operation
500,000
400,000
300,000
200,000
100,000
FY2022 FY2023 FY2024 FY2025
FY2026 (Forecast)
FY2025 1Q FY2026 1Q
0
Power Distribution Lining
(Millions of yen)
Electrical
Information &
Environmental Electric Power &
Communications Management Facilities Network
Others
Construction Orders by Region (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Excluding Power Distribution Lining
Hokkaido and Tohoku
25,064
29,728
26,790
29,572
9,656
19,065
9,409
97.4%
Kanto and Tokyo metropolitan area
141,598
145,758
142,061
161,182
60,996
88,132
27,135
44.5%
Chubu
46,860
48,783
57,885
57,655
21,916
18,578
(3,338)
(15.2)%
Kinki
185,553
201,868
202,635
228,556
109,164
98,893
(10,271)
(9.4)%
Chugoku, Shikoku and Kyushu
51,257
50,838
51,491
59,173
21,588
19,979
(1,608)
(7.5)%
Overseas
7,644
7,858
6,594
4,636
3,106
201
(2,904)
(93.5)%
Power Distribution Lining
68,019
73,485
72,957
78,384
20,426
21,774
1,347
6.6%
Total
525,998
558,320
560,416
619,160
590,000
246,855
266,625
19,770
8.0%
250,000
200,000
FY2022
FY2023
150,000
FY2024
100,000
FY2025
FY2025 1Q
50,000
FY2026 1Q
0
Hokkaido and Kanto and
Chubu
Kinki
Chugoku, Shikoku and Kyushu
Overseas
Tohoku
Tokyo metropolitan area
Power Distribution Lining
(Millions of yen) (Excluding Power Distribution Lining)
Construction Orders by Operation
Power Distribution Lining (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
The Kansai Electric Power Company,
Incorporated
65,453
69,711
69,787
74,972 72,000
19,079
20,887
1,807
9.5%
Other Power Distribution Lining
2,565
3,773
3,170
3,411
3,000
1,347
887
(459)
(34.1)%
Total
68,019
73,485
72,957
78,384
75,000
20,426
21,774
1,347
6.6%
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.
Electrical (By Facility) (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Office buildings
128,559
160,064
146,445
154,364
62,745
78,048
15,303
24.4%
Commercial and entertainment facilities
35,050
37,565
36,543
32,069
12,989
12,218
(771)
(5.9)%
Healthcare facilities
16,951
11,164
23,181
13,351
7,157
5,294
(1,862)
(26.0)%
Educational and cultural facilities
21,554
23,385
19,669
31,635
18,898
10,689
(8,208)
(43.4)%
Residences
2,422
1,812
2,550
1,696
1,003
703
(299)
(29.9)%
Factories
65,803
81,376
87,008
124,313
44,310
40,637
(3,673)
(8.3)%
Logistics facilities
32,061
29,008
26,533
31,259
20,297
19,648
(649)
(3.2)%
Others
16,737
11,010
17,634
21,988
6,967
4,523
(2,443)
(35.1)%
Interior constructions
7,819
9,550
9,355
11,082
3,487
4,182
695
19.9%
Total
326,958
364,940
368,922
421,762
379,000
177,857
175,947
(1,910)
(1.1)%
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
FY2022 FY2023 FY2024 FY2025 FY2025 1Q
FY2026 1Q
Office buildings Commercial and Healthcare Educational and Residences Factories entertainment facilities cultural facilities
Logistics facilities
Others
Interior constructions
(Millions of yen)
facilities
Electrical (By Customer's Industry) (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Manufacturing
81,057
102,803
113,747
151,038
57,330
52,024
(5,305)
(9.3)%
Transport machines and equipment
10,680
16,671
20,608
27,685
11,195
8,786
(2,408)
(21.5)%
Electrical / precision machinery and instruments
14,172
23,145
20,577
42,892
14,028
13,959
(68)
(0.5)%
Food
8,030
6,271
11,571
10,491
5,571
2,796
(2,775)
(49.8)%
Chemical
9,265
8,470
10,211
10,432
5,429
5,576
147
2.7%
Pharmaceutical
6,999
10,527
7,900
22,719
7,582
2,013
(5,569)
(73.4)%
Other manufacturing
31,909
37,715
42,878
36,817
13,523
18,891
5,368
39.7%
Service
47,099
57,688
58,695
62,109
24,221
25,647
1,425
5.9%
Real estate
44,447
57,833
41,696
55,923
29,231
22,725
(6,505)
(22.3)%
Transportation and communication
54,494
38,831
35,958
44,223
22,274
16,365
(5,909)
(26.5)%
Commerce
17,882
18,495
15,293
14,303
6,672
5,898
(774)
(11.6)%
Others
81,976
89,288
103,531
94,163
38,126
53,286
15,159
39.8%
Total
326,958
364,940
368,922
421,762
379,000
177,857
175,947
(1,910)
(1.1)%
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
FY2022 FY2023 FY2024 FY2025 FY2025 1Q
FY2026 1Q
Manufacturing Service Real estate
Transportation and communication
Commerce
Others
(Millions of yen)
Information & Communications Network (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Instrumentation
4,125
7,043
4,867
7,977
6,000
2,100
2,283
183
8.7%
LAN and others
6,573
7,777
5,954
8,508
7,500
3,250
5,333
2,082
64.1%
Local area network total
10,699
14,821
10,821
16,486
13,500
5,351
7,616
2,265
42.3%
Business communication networks by The
Kansai Electric Power Company, Incorporated
1,691
1,985
1,621
1,630
1,500
377
383
6
1.6%
Excluding The Kansai Electric Power Company, Incorporated
FTTH and others
15,132
13,969
13,334
13,113
13,000
3,358
3,429
71
2.1%
Mobile phone and others
18,337
16,561
14,485
8,816
9,400
2,386
2,158
(228)
(9.6)%
CATV
11,690
3,929
3,129
3,026
2,900
788
1,743
955
121.2%
Others
3,158
4,480
1,321
737
6,700
815
175
(640)
(78.5)%
Broadband network total
50,010
40,926
33,893
27,324
33,500
7,726
7,890
163
2.1%
Total
60,710
55,747
44,715
43,810
47,000
13,077
15,506
2,429
18.6%
20,000
15,000
10,000
5,000
0
Instrumentation
LAN and others
Business communication networks by The Kansai Electric Power Company, Incorporated
FTTH and others Mobile phone and others
CATV
Others
FY2022 FY2023 FY2024 FY2025 FY2025 1Q
FY2026 1Q
(Millions of yen)
Environmental Management Facilities (By Facility) (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Office buildings
6,808
6,660
12,552
7,113
836
2,133
1,297
155.1%
Commercial and entertainment facilities
14,112
13,971
7,925
7,252
4,029
3,887
(141)
(3.5)%
Healthcare facilities
2,491
2,547
2,153
7,295
4,216
3,386
(830)
(19.7)%
Educational and cultural facilities
2,531
8,156
5,577
4,334
1,706
860
(845)
(49.6)%
Residences
548
1,987
731
92
8
2,110
2,102
-
Factories
5,499
6,247
7,885
12,546
6,449
1,629
(4,820)
(74.7)%
Logistics facilities
9,959
7,647
10,892
9,422
2,208
8,417
6,208
281.1%
Others
2,014
626
4,379
1,560
524
439
(85)
(16.3)%
Total
43,965
47,843
52,097
49,618
57,000
19,980
22,865
2,885
14.4%
15,000
10,000
5,000
0
Office buildings Commercial and Healthcare facilities Educational and Residences
Factories Logistics facilities
Others
entertainment facilities
cultural facilities
FY2022 FY2023 FY2024 FY2025 FY2025 1Q
FY2026 1Q
(Millions of yen)
Electric Power & Others (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Overhead power lining
2,354
5,534
7,920
3,073
7,000
1,251
1,270
18
1.5%
Underground power lining
2,226
2,636
3,480
2,851
1,500
551
1,114
563
102.1%
Power plants and substations*
21,233
7,406
9,478
17,939
22,000
13,084
28,067
14,982
114.5%
Others
529
726
844
1,720
1,500
624
77
(547)
(87.5)%
Total
26,344
16,304
21,723
25,585
32,000
15,513
30,530
15,017
96.8%
* Includes solar and wind power plants, etc.
The Kansai Electric Power Company, Incorporated*
6,150
9,266
12,224
6,773
9,500
2,224
2,652
428
19.3%
Others
20,193
7,037
9,498
18,811
22,500
13,289
27,878
14,588
109.8%
* Includes Kansai Transmission and Distribution, Inc.
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Overhead power lining
(Millions of yen)
Underground power lining
Others
FY2022 FY2023 FY2024 FY2025 FY2025 1Q
FY2026 1Q
30,000
20,000
10,000
FY2022 FY2023 FY2024
FY2025
0
Power plants and substations FY2025 1Q (including solar and wind power plants, FY2026 1Q
(Millions of yen) etc.)
Net Sales of Completed Construction Contracts
(Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Sales of Completed Construction Contracts by Customer
The Kansai Electric Power Company,
Incorporated*
74,825
78,492
81,542
85,302
83,000
20,497
21,868
1,370
6.7%
The Kansai Electric Power Group
22,109
18,420
16,499
16,117
16,000
3,640
3,857
216
5.9%
Others
396,788
427,319
461,912
494,497
511,000
89,390
91,565
2,174
2.4%
[Public offices (Reissued)]
[14,133]
[10,266]
[16,073]
[15,731]
[1,519]
[2,015]
[495]
32.6%
Total
493,724
524,233
559,954
595,918
610,000
113,529
117,290
3,761
3.3%
* Includes Kansai Transmission and Distribution, Inc.
Sales of Completed Construction Contracts by Operation
Power Distribution Lining
66,480
70,375
73,969
77,150
77,000
18,223
19,650
1,426
7.8%
Electrical
309,292
329,873
372,944
404,667
411,000
72,659
73,308
649
0.9%
Information & Communications Network
56,143
53,003
52,032
44,594
47,000
7,329
8,261
932
12.7%
Environmental Management Facilities
36,136
45,344
41,421
49,186
52,000
10,833
11,613
779
7.2%
Electric Power & Others
25,671
25,636
19,586
20,319
23,000
4,482
4,456
(26)
(0.6)%
Total
493,724
524,233
559,954
595,918
610,000
113,529
117,290
3,761
3.3%
8
Renewal Construction (Excluding Power Distribution Lining)
Electrical
136,678
142,129
150,543
159,413
25,102
31,537
6,434
25.6%
Information & Communications Network
20,667
19,281
21,909
19,931
2,965
3,592
627
21.2%
Environmental Management Facilities
8,537
7,632
8,383
9,941
1,903
1,739
(163)
(8.6)%
Electric Power & Others
8,509
7,941
7,432
8,026
1,707
1,679
(28)
(1.7)%
Total
174,392
176,984
188,268
197,313
205,000
31,679
38,549
6,870
21.7%
Sales of Completed Construction Contracts by Customer
600,000
500,000
400,000
300,000
200,000
100,000
FY2022 FY2023 FY2024 FY2025
FY2026 (Forecast) FY2025 1Q
FY2026 1Q
0
The Kansai Electric Power Company, The Kansai Electric Power Group Others Incorporated*
(Millions of yen)
Sales of Completed Construction Contracts by Operation
500,000
400,000
300,000
200,000
100,000
FY2022 FY2023 FY2024 FY2025
FY2026 (Forecast) FY2025 1Q
FY2026 1Q
0
Power Distribution Lining
(Millions of yen)
Electrical
Information & Communications Network
Environmental Electric Power &
Management Facilities
Others
Sales of Completed Construction Contracts by Region (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Excluding Power Distribution Lining
Hokkaido and Tohoku
24,177
23,717
31,992
30,128
5,940
5,465
(474)
(8.0)%
Kanto and Tokyo metropolitan area
140,704
140,268
150,332
161,519
28,817
27,265
(1,552)
(5.4)%
Chubu
41,661
46,303
51,339
58,089
10,126
10,170
43
0.4%
Kinki
166,158
188,442
198,514
207,415
37,965
43,366
5,400
14.2%
Chugoku, Shikoku and Kyushu
47,806
49,554
46,970
56,725
11,355
10,038
(1,317)
(11.6)%
Overseas
6,735
5,572
6,834
4,890
1,099
1,333
234
21.3%
Power Distribution Lining
66,480
70,375
73,969
77,150
18,223
19,650
1,426
7.8%
Total
493,724
524,233
559,954
595,918
610,000
113,529
117,290
3,761
3.3%
220,000
200,000
180,000
160,000
FY2022
140,000
FY2023
120,000
FY2024
100,000
FY2025
80,000
FY2025 1Q
60,000
40,000
FY2026 1Q
20,000
0
Hokkaido and Tohoku
Kanto and Tokyo metropolitan area
Chubu
Kinki
Chugoku, Overseas Power
Shikoku and Distribution
Kyushu Lining
(Millions of yen)
(Excluding Power Distribution Lining)
Net Sales of Completed Construction Contracts by Operation
Power Distribution Lining (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
The Kansai Electric Power Company,
Incorporated
64,198
67,949
70,208
72,914
72,000
17,844
19,125
1,281
7.2%
Other Power Distribution Lining
2,281
2,425
3,761
4,235
5,000
379
525
145
38.4%
Total
66,480
70,375
73,969
77,150
77,000
18,223
19,650
1,426
7.8%
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.
Electrical (By Facility) (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Office buildings
112,349
118,286
166,478
168,628
32,978
28,026
(4,952)
(15.0)%
Commercial and entertainment facilities
32,905
40,964
34,515
38,966
7,709
5,708
(2,000)
(25.9)%
Healthcare facilities
12,735
14,634
15,466
15,661
3,007
1,937
(1,069)
(35.6)%
Educational and cultural facilities
19,268
19,303
22,858
25,095
3,759
4,645
885
23.6%
Residences
7,642
1,833
2,347
2,101
196
377
181
92.0%
Factories
62,951
73,324
82,250
94,524
14,505
20,196
5,690
39.2%
Logistics facilities
35,764
36,930
27,519
29,736
5,066
8,061
2,995
59.1%
Others
18,819
14,652
11,622
19,838
3,365
2,224
(1,140)
(33.9)%
Interior constructions
6,855
9,944
9,886
10,114
2,071
2,131
59
2.9%
Total
309,292
329,873
372,944
404,667
411,000
72,659
73,308
649
0.9%
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
FY2022 FY2023 FY2024 FY2025 FY2025 1Q
FY2026 1Q
Office buildings Commercial and Healthcare Educational and Residences Factories
Logistics facilities
Others
entertainment facilities
facilities
cultural facilities
Interior constructions
(Millions of yen)
Electrical (By Customer's Industry) (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Manufacturing
75,546
91,283
105,655
120,168
19,623
26,562
6,939
35.4%
Transport machines and equipment
8,180
13,320
17,564
26,646
4,212
4,574
361
8.6%
Electrical / precision machinery and instruments
16,314
19,413
23,116
21,276
2,773
6,135
3,361
121.2%
Food
8,075
8,424
7,029
8,601
1,681
2,860
1,178
70.1%
Chemical
8,138
8,428
9,509
11,241
1,884
2,406
521
27.7%
Pharmaceutical
6,163
8,692
9,561
10,702
907
3,213
2,305
254.0%
Other manufacturing
28,673
33,004
38,874
41,700
8,162
7,372
(789)
(9.7)%
Service
55,955
46,330
60,223
56,054
11,287
8,414
(2,872)
(25.5)%
Real estate
53,565
52,972
56,310
43,115
7,024
11,177
4,152
59.1%
Transportation and communication
30,901
32,674
38,824
56,360
9,418
8,337
(1,081)
(11.5)%
Commerce
10,821
16,129
16,199
19,994
4,534
3,059
(1,475)
(32.5)%
Others
82,502
90,482
95,732
108,973
20,771
15,758
(5,012)
(24.1)%
Total
309,292
329,873
372,944
404,667
411,000
72,659
73,308
649
0.9%
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
FY2022 FY2023 FY2024 FY2025 FY2025 1Q
FY2026 1Q
Manufacturing Service Real estate
Transportation and communication
Commerce
Others
(Millions of yen)
Information & Communications Network (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Instrumentation
4,879
4,116
5,426
6,380
7,300
784
1,107
322
41.2%
LAN and others
5,844
5,901
8,377
6,711
8,000
857
1,246
389
45.4%
Local area network total
10,724
10,017
13,804
13,092
15,300
1,641
2,353
712
43.4%
Business communication networks by The
Kansai Electric Power Company, Incorporated
1,676
1,931
1,612
1,656
1,500
325
334
8
2.7%
Excluding The Kansai Electric Power Company, Incorporated
FTTH and others
15,299
14,036
13,318
13,206
12,800
3,140
3,273
132
4.2%
Mobile phone and others
18,074
17,405
14,926
10,415
10,100
1,426
1,422
(4)
(0.3)%
CATV
7,273
7,942
6,749
3,729
2,700
444
624
180
40.6%
Others
3,094
1,671
1,620
2,495
4,600
350
253
(96)
(27.6)%
Broadband network total
45,418
42,986
38,227
31,502
31,700
5,687
5,908
220
3.9%
Total
56,143
53,003
52,032
44,594
47,000
7,329
8,261
932
12.7%
20,000
15,000
10,000
5,000
0
Instrumentation
LAN and others
Business communication networks by The Kansai Electric Power Company, Incorporated
FTTH and others Mobile phone and others
CATV
Others
FY2022 FY2023 FY2024 FY2025 FY2025 1Q
FY2026 1Q
(Millions of yen)
Environmental Management Facilities (By Facility) (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Office buildings
6,344
5,907
5,056
7,973
1,273
3,388
2,115
166.0%
Commercial and entertainment facilities
8,028
14,583
10,811
10,745
3,511
1,657
(1,854)
(52.8)%
Healthcare facilities
3,210
2,246
2,166
3,220
1,159
897
(261)
(22.6)%
Educational and cultural facilities
4,038
5,668
6,320
4,662
642
564
(78)
(12.1)%
Residences
1,884
792
1,787
463
59
74
15
25.4%
Factories
5,094
6,781
4,799
9,690
1,836
3,005
1,168
63.6%
Logistics facilities
6,648
9,184
9,682
9,444
1,838
1,568
(270)
(14.7)%
Others
887
179
798
2,985
510
455
(55)
(10.8)%
Total
36,136
45,344
41,421
49,186
52,000
10,833
11,613
779
7.2%
16,000
12,000
8,000
4,000
0
Office buildings Commercial and Healthcare facilities Educational and Residences
Factories Logistics facilities
Others
entertainment facilities
cultural facilities
FY2022 FY2023 FY2024 FY2025 FY2025 1Q
FY2026 1Q
(Millions of yen)
Electric Power & Others (Millions of yen)
Full year
First three months
FY2022
FY2023
FY2024
FY2025
FY2026
(Forecast)
FY2025 1Q
FY2026 1Q
Change
% Change
Overhead power lining
5,821
4,367
4,662
5,127
4,900
1,259
1,295
36
2.9%
Underground power lining
2,057
2,459
3,089
3,254
2,300
678
829
151
22.4%
Power plants and substations*
16,904
17,709
10,860
10,216
14,300
2,461
2,167
(294)
(12.0)%
Others
888
1,100
974
1,721
1,500
83
163
79
95.3%
Total
25,671
25,636
19,586
20,319
23,000
4,482
4,456
(26)
(0.6)%
* Includes solar and wind power plants, etc.
The Kansai Electric Power Company, Incorporated*
8,592
7,780
8,553
9,214
9,200
1,978
2,179
201
10.2%
Others
17,079
17,855
11,032
11,104
13,800
2,504
2,276
(227)
(9.1)%
* Includes Kansai Transmission and Distribution, Inc.
6,000
5,000
4,000
3,000
2,000
1,000
0
FY2022 FY2023 FY2024 FY2025
FY2025 1Q
Overhead power lining
(Millions of yen)
Underground power lining
Others
FY2026 1Q
20,000
15,000
10,000
5,000
0
FY2022 FY2023 FY2024
FY2025
Power plants and substations (including solar and wind power plants,
FY2025 1Q
FY2026 1Q
(Millions of yen)
etc.)
Contract Backlog by Operation at the End of Period
(Millions of yen)
As of Mar. 31
As of Jun. 30
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)
As of Jun. 30,
2024
As of Jun. 30,
2025
Change
% Change
By Operation
Power Distribution Lining
11,191
14,301
13,289
14,523
12,520
15,492
16,647
1,155
7.5%
Electrical
304,067
339,134
335,112
352,206
320,220
440,310
454,845
14,535
3.3%
Information & Communications Network
21,180
23,924
16,607
15,823
15,820
22,355
23,068
713
3.2%
Environmental Management Facilities
37,013
39,513
50,189
50,621
55,620
59,336
61,873
2,537
4.3%
Electric Power & Others
40,858
31,526
33,664
38,929
47,920
44,694
65,004
20,309
45.4%
Total
414,312
448,400
448,862
472,105
452,100
582,189
621,440
39,250
6.7%
700,000
600,000
500,000
Power Distribution Lining
400,000
Electrical
Information & Communications Network
300,000
Environmental Management Facilities
200,000
Electric Power & Others
100,000
0
As of Mar. 31,
2022
(Millions of yen)
As of Mar. 31,
2023
As of As of Mar. 31, Mar. 31,
2024 2025
As of Mar. 31,
2026
(Forecast)
As of As of Jun. 30, Jun. 30,
2024 2025
Selling, General and Administrative Expenses
(Millions of yen)
Full year | First three months | ||||||||
FY2022 | FY2023 | FY2024 | FY2025 | FY2026 (Forecast) | FY2025 1Q | FY2026 1Q | Change | % Change | |
Personnel expenses | 30,415 | 30,725 | 32,032 | 35,528 | 38,100 | 8,308 | 9,918 | 1,609 | 19.4% |
Fixed assets expenses | 8,209 | 8,499 | 8,768 | 9,357 | 10,000 | 2,742 | 2,829 | 86 | 3.2% |
Other expenses | 9,282 | 11,150 | 12,338 | 14,101 | 15,400 | 3,710 | 4,106 | 396 | 10.7% |
Total | 47,907 | 50,375 | 53,139 | 58,987 | 63,500 | 14,761 | 16,853 | 2,092 | 14.2% |
R&D expenses (Reissued) | 651 | 670 | 649 | 705 | 890 | 241 | 292 | 50 | 21.1% |
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
FY2025
FY2026
(Forecast)
FY2025 1Q FY2026 1Q
(Millions of yen)
4. 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
350.00
Profit per share (consolidated) Cash dividends per share
Payout ratio (consolidated)38.0%
28.8%
28.5%
22.4%
236.26
90
100
165.34
63
35
37
40
263.28
38.1%
128.65
156.46
38.1%
140.15
50.0%
300.00
40.0%
250.00
200.00
30.0%
150.00
100.00
50.00
20.0%
10.0%
0.00
(Yen)
FY2021 FY2022 FY2023 FY2024 FY2025 FY2026
(Forecast)
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: 4,520 million yen (1,295,100 shares) (As of June 30, 2025)
5. 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% | 8.5% |
Non-Consolidated | 7.0% | 5.6% | 5.8% | 5.9% | 8.0% | 9.2% |
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.