Note: 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.
April 30, 2026
Consolidated Financial Report
for the Three Months Ended March 31, 2026
OTSUKA CORPORATION (URL: https://www.otsuka-shokai.co.jp/)
Listing: Tokyo Stock Exchange, Code 4768
Representative: Yuji Otsuka, President & Chief Executive Officer
Contact: Hironobu Saito, Director & Executive Corporate Officer; General Manager of Business Administration Headquarters (Tel: +81-3-3264-7111)
Scheduled date to commence dividend payments: － Preparation of supplementary material on quarterly financial results: Yes Holding of quarterly financial results briefing: No
(Yen amounts are rounded down to millions, unless otherwise noted.)
- Consolidated Financial Results for the Three Months Ended March 31, 2026 (From January 1, 2026 to March 31, 2026)
- Consolidated results of operations (Cumulative)
(Percentages indicate year-on-year changes.)
Net sales
Operating
profit
Ordinary
profit
Profit attributable
to owners of parent
Three months ended
March 31, 2026
Millions of yen
344,753
%
9.3
Millions of yen
23,505
%
11.0
Millions of yen
24,312
%
11.3
Millions of yen
16,688
%
15.2
March 31, 2025
315,541
18.3
21,175
22.8
21,852
23.9
14,491
24.1
Note) Comprehensive Income: For the three months ended March 31, 2026: 15,358 million yen [(4.1)%]
For the three months ended March 31, 2025: 16,009 million yen [32.7%]
Basic earnings per share
Diluted earnings per share
Three months ended
yen
yen
March 31, 2026
44.01
43.83
March 31, 2025
38.22
—
- Consolidated financial position
Total assets
Net assets
Equity ratio
As of
Millions of yen
Millions of yen
%
March 31, 2026
749,489
397,614
52.3
December 31, 2025
729,200
399,588
54.1
Reference) Equity: As of March 31, 2026: 392,337 million yen
As of December 31, 2025: 394,324 million yen
- Consolidated results of operations (Cumulative)
- Dividends
Annual dividends
First quarter -end
Second quarter -end
Third quarter -end
Year-end
Total
Fiscal year ended December 31, 2025 Fiscal year ending December 31, 2026
yen
yen
yen
yen
yen
—
—
45.00
—
45.00
90.00
Fiscal year ending December 31, 2026 (forecast)
50.00
—
45.00
95.00
Note) Revision of the recently announced dividends forecasts: No
- Consolidated Financial Forecasts for the Fiscal Year 2026 (From January 1, 2026 to December 31, 2026)
(Percentages indicate year-on-year changes.)
Net sales | Operating | profit | Ordinary | profit | Profit attributable to owners of parent | Basic earnings per share | |||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | yen | |
Six months ending June 30, 2026 | 689,300 | (0.8) | 48,700 | (1.0) | 48,800 | (2.6) | 33,250 | (2.6) | 87.68 |
Full-Year | 1,311,000 | (0.9) | 90,000 | 0.1 | 90,100 | (1.6) | 61,130 | (4.9) | 161.21 |
Note) 1. Revision of the recently announced financial forecasts: No
2. The above forecasts are based on the information available as of the date of publication of this document. Actual results are subject to change due to various future events and may differ from these figures.
* NotesSignificant changes in the scope of consolidation during the period: No
Application of specific accounting for preparing the quarterly consolidated financial statements:
Yes
Changes in accounting policies, changes in accounting estimates, and restatements
Changes in accounting policies due to revisions to accounting standards, etc.: No
Changes in accounting policies other than 1): No
Changes in accounting estimates: No
Restatements: No
Number of shares issued (common shares)
Number of shares issued at the end of the period (including treasury shares)
As of March 31, 2026: 380,004,240 shares
As of December 31, 2025: 380,004,240 shares
Number of treasury shares at the end of the period
As of March 31, 2026: 803,061 shares
As of December 31, 2025: 803,041 shares
Average number of shares during the period (cumulative from the beginning of the fiscal year) Three months ended March 31, 2026: 379,201,195 shares
Three months ended March 31, 2025: 379,201,199 shares
* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: NoQuarterly Consolidated Balance Sheets(Millions of yen)
As of December 31, 2025 As of March 31, 2026
Assets
252,058 | 260,070 |
219,579 | 245,474 |
53,670 | 39,825 |
1,462 | 1,164 |
864 | 831 |
78,041 | 79,050 |
(163) | (198) |
605,514 | 626,219 |
Current assets Cash and deposits
Notes and accounts receivable - trade, and
contract assets Merchandise
Work in process
Raw materials and supplies Other
Non-current assets Property, plant and equipment | ||
Buildings and structures, net | 14,100 | 13,919 |
Other, net | 21,700 | 21,859 |
Total property, plant and equipment | 35,800 | 35,779 |
Intangible assets | 30,610 | 32,857 |
Investments and other assets Investment securities | 25,124 | 23,101 |
Other | 32,632 | 32,026 |
Allowance for doubtful accounts | (482) | (495) |
Total investments and other assets | 57,274 | 54,632 |
Total non-current assets | 123,685 | 123,269 |
Total assets | 729,200 | 749,489 |
Allowance for doubtful accounts Total current assets
(Millions of yen) As of December 31, 2025 As of March 31, 2026
Liabilities
Current liabilities | ||
Notes and accounts payable - trade | 159,850 | 193,256 |
Electronically recorded obligations - operating | 26,739 | 26,225 |
Short-term borrowings | 4,300 | 4,300 |
Current portion of long-term borrowings | 1,700 | 1,700 |
Income taxes payable | 16,807 | 7,800 |
Provision for bonuses | 5,697 | 14,855 |
Other | 107,715 | 97,018 |
Total current liabilities | 322,810 | 345,157 |
Non-current liabilities Provision for retirement benefits for directors (and other officers) Retirement benefit liability | 662 3,811 | 668 3,850 |
Other | 2,326 | 2,198 |
Total non-current liabilities | 6,801 | 6,717 |
Total liabilities | 329,611 | 351,875 |
Net assets | ||
Shareholders’ equity | ||
Share capital | 10,374 | 10,374 |
Capital surplus | 16,254 | 16,254 |
Retained earnings | 356,326 | 355,950 |
Treasury shares | (143) | (143) |
Total shareholders’ equity | 382,812 | 382,436 |
Accumulated other comprehensive income Valuation difference on available-for-sale securities | 7,673 | 6,035 |
Deferred gains or losses on hedges | 551 | 754 |
Revaluation reserve for land | (5,201) | (5,201) |
Foreign currency translation adjustment | 445 | 450 |
Remeasurements of defined benefit plans | 8,042 | 7,861 |
Total accumulated other comprehensive income | 11,511 | 9,900 |
Non-controlling interests | 5,264 | 5,276 |
Total net assets | 399,588 | 397,614 |
Total liabilities and net assets | 729,200 | 749,489 |
Quarterly Consolidated Statements of Income
(Millions of yen)
Three months ended Three months ended
March 31, 2025 March 31, 2026 | ||
Net sales | 315,541 | 344,753 |
Cost of sales | 255,454 | 279,198 |
Gross profit | 60,087 | 65,555 |
Selling, general and administrative expenses | 38,911 | 42,049 |
Operating profit | 21,175 | 23,505 |
Non-operating income | ||
Interest income | 101 | 224 |
Dividend income Share of profit of entities accounted for using equity method Foreign exchange gains | 10 304 127 | 18 480 424 |
Other | 152 | 159 |
Total non-operating income | 696 | 1,307 |
Non-operating expenses | ||
Interest expenses | 15 | 20 |
Donations | 1 | 479 |
Other | 2 | 0 |
Total non-operating expenses | 19 | 500 |
Ordinary profit | 21,852 | 24,312 |
Extraordinary losses | ||
Loss on retirement of non-current assets | 0 | 0 |
Loss on change in equity | — | 92 |
Loss on liquidation of investment securities | 2 | — |
Total extraordinary losses | 2 | 92 |
Profit before income taxes | 21,849 | 24,220 |
Income taxes | 7,127 | 7,279 |
Profit | 14,722 | 16,940 |
Profit attributable to non-controlling interests | 230 | 252 |
Profit attributable to owners of parent | 14,491 | 16,688 |
Quarterly Consolidated Statements of Comprehensive Income
(Millions of yen)
Three months ended Three months ended
March 31, 2025 March 31, 2026 | ||
Profit | 14,722 | 16,940 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 246 | (1,658) |
Deferred gains or losses on hedges | (536) | 249 |
Revaluation reserve for land | 68 | — |
Remeasurements of defined benefit plans, net of tax Share of other comprehensive income of entities accounted for using equity method | 1,624 (115) | (178) 6 |
Total other comprehensive income | 1,287 | (1,581) |
Comprehensive income | 16,009 | 15,358 |
(Breakdown) Comprehensive income attributable to owners of parent | 15,874 | 15,077 |
Comprehensive income attributable to non-controlling interests
135 281
Quarterly Consolidated Statements of Cash Flows(Millions of yen)
Three months ended March 31, 2025
Three months ended March 31, 2026
Cash flows from operating activities
Profit before income taxes | 21,849 | 24,220 |
Depreciation Increase (decrease) in allowance for doubtful accounts Interest and dividend income | 2,125 99 (112) | 2,465 47 (242) |
Interest expenses Share of loss (profit) of entities accounted for using equity method Loss on retirement of non-current assets | 15 (304) 0 | 20 (480) 0 |
Loss (gain) on change in equity | — | 92 |
Decrease (increase) in trade receivables | (33,825) | (25,907) |
Decrease (increase) in inventories | 1,304 | 14,175 |
Increase (decrease) in trade payables | 24,826 | 32,892 |
Other, net | 3,169 | (1,973) |
Subtotal | 19,149 | 45,309 |
Interest and dividends received | 98 | 223 |
Interest paid | (3) | (5) |
Income taxes paid | (12,681) | (15,707) |
Net cash provided by (used in) operating activities | 6,561 | 29,821 |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (1,413) | (390) |
Purchase of software | (3,159) | (4,133) |
Purchase of investment securities | (2) | (5) |
Other, net | (31) | (221) |
Net cash provided by (used in) investing activities | (4,607) | (4,750) |
Cash flows from financing activities | ||
Dividends paid | (30,335) | (17,066) |
Other, net | (222) | (269) |
Net cash provided by (used in) financing activities | (30,558) | (17,335) |
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
(2) 51
(28,606) 7,786
Cash and cash equivalents at beginning of period | 229,488 | 253,620 |
Cash and cash equivalents at end of period | 200,881 | 261,406 |
Three months ended March 31, 2025 (Millions of yen)
Reportable segments | Total | Adjustment | Amount recorded in quarterly consolidated statements of income | ||
System Integration business | Service and Support business | ||||
Net sales Outside customers sales Inter-segment sales/transfers | 214,001 | 101,540 | 315,541 | — | 315,541 |
248 | 429 | 678 | (678) | — | |
Total | 214,250 | 101,969 | 316,220 | (678) | 315,541 |
Segment profit | 17,174 | 7,258 | 24,433 | (3,257) | 21,175 |
Three months ended March 31, 2026 (Millions of yen)
Reportable segments | Total | Adjustment | Amount recorded in quarterly consolidated statements of income | ||
System Integration business | Service and Support business | ||||
Net sales Outside customers sales Inter-segment sales/transfers | 235,097 | 109,656 | 344,753 | — | 344,753 |
281 | 483 | 765 | (765) | — | |
Total | 235,379 | 110,139 | 345,519 | (765) | 344,753 |
Segment profit | 19,918 | 7,178 | 27,097 | (3,591) | 23,505 |