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.
February 2, 2026
Company name: | T.RAD Co., Ltd. | Listing: | Tokyo Stock Exchange, Prime Market |
Code No.: | 7236 | URL: | http://www.trad.co.jp |
Representative: | Tomio Miyazaki, President & CEO & COO | ||
Contact: | Kaoru Kinoshita, Managing Executive Officer, in charge of Finance & Accounting | Tel: | +81-3-3373-1101 |
Scheduled date of start of dividend payments: | - | ||
Supplemental materials prepared for consolidated financial results: Yes | |||
Briefing on consolidated financial results: None | |||
(Amounts less than one million yen have been truncated)
-
Consolidated Financial Performance for the 3rd Quarter of Fiscal Year Ending March 31, 2026
(April 1, 2025 to December 31, 2025)
Consolidated operating performance (Percentage figures indicate year-on-year change)
Net sales
Operating income
Ordinary income
Profit attributable to
owners of parent
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Nine months ended December31, 2025
118,082
3.7
8,328
168.2
9,224
124.0
6,869
493.9
Nine months ended December31, 2024
113,844
-6.8
3,105
-1.7
4,117
16.6
1,156
-14.5
Note: Comprehensive income
Nine months ended December 31, 2025: ¥ 5,596 million (301.3%)
Nine months ended December 31, 2024: ¥ 1,394 million (-62.4%)
Net income per share
Diluted net income per share
Yen
Yen
Nine months ended December31, 2025
1,142.91
-
Nine months ended December31, 2024
176.96
-
Consolidated financial position
Total assets
Net assets
Equity ratio
Net assets per share
Millions of yen
Millions of yen
%
Yen
Nine months ended
December31, 2025
97,067
48,836
50.3
8,507.30
Fiscal year ended March 31, 2025
97,486
48,744
49.9
7,689.22
Reference: Shareholders' equity
As of December 31, 2025: ¥48,779 million As of March 31, 2025 : ¥48,689 million
-
Dividends
Dividends per Share
1Q
2Q
3Q
Year-end
Total
Yen
Yen
Yen
Yen
Yen
Fiscal year ended March 31, 2025
-
90.00
-
150.00
240.00
Fiscal year ending
March 31, 2026
-
160.00
-
Fiscal year ending March 31, 2026 (Forecast)
160.00
320.00
Note: Revisions to dividend forecasts since the latest official announcement: No
-
Forecast of Consolidated Financial Performance for the Fiscal Year Ending March 31, 2026
(April 1, 2025 to March 31, 2026)
(Percentage figures indicate changes from the same period of the previous year)
Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Net income per
share
Millions of
yen
%
Millions of
yen
%
Millions of
yen
%
Millions of
yen
%
Yen
Fiscal year ending March 31, 2026
160,000
0.5
10,900
49.0
12,200
50.6
8,700
104.7
1,517.32
Note: Revisions to forecast of consolidated financial performance since the latest official announcement: Yes
For revisions to forecasts of consolidated financial performance, please refer to "Notice of Revisions to the Full-Year Earnings Forecasts (Consolidated and Non-Consolidated)" that we announced today (February 2, 2026).
- Other
Changes in significant subsidiaries during the current quarter
(changes in specific subsidiaries resulting in changes in the scope of consolidation): No
Adoption of specific accounting policies for quarterly consolidated financial statements: None
Changes in accounting principles, estimation procedures or presentation methods
Changes associated with revision of accounting standards: No
Changes other than 1): None
Changes accounting estimation procedures: None
Changes in presentation methods: None
Number of shares issued and outstanding (common stock)
Number of shares issued and outstanding at end of period (including treasury stock) As of December 31, 2025: 5,900,000 shares
As of March 31, 2025: 6,592,411 shares
Number of shares of treasury stock at end of period As of December 31, 2025: 166,189 shares
As of March 31, 2025: 260,170 shares
Average number of shares outstanding during the period Nine months ended December 31, 2025: 6,010,486 shares
Nine months ended December 31, 2024: 6,536,256 shares
Review by certified public accountant or audit firm of the attached quarterly consolidated financial statements: None
Explanations for proper use of forecasts and other specific affairs
Revisions to non-consolidated earnings forecasts for the full year ending March 31, 2026, have been made to the forecasts announced on November 4, 2025.
ï½¥Revisions to the forecasts for the fiscal year ending March 31, 2026(From April 1, 2025 to March 31, 2026) Revised forecast, Net sales of 82,000 million yen, operating income of 3,700 million yen, ordinary income of 11,100 million yen, net income of 9,400 million yen, and net income per share of 1,639.40 yen
For details, please refer to "Notice of Revisions to the Full-Year Earnings Forecasts (Consolidated and Non-Consolidated)" that we announced today (February 2, 2026).
Explanations for proper use of forecasts and other specific affairs
The forward-looking statement such as forecast of financial performance etc. described in this report based on information currently available and certain assumptions judged to be reasonable. Actual performance may differ significantly from these projections due to various factors.
Quarterly Consolidated Financial Statements and main notesQuarterly consolidated balance sheets
(Millions of yen)
FY2024
As of March 31, 2025
FY2025_3Q
As of December 31, 2025
Amount
Amount
(Assets)
Current assets
Cash and deposits
16,926
14,341
Notes receivable-trade
575
544
Electronically recorded monetary claims-operating
2,151
2,896
Accounts receivable-trade
24,677
24,059
Merchandise and finished goods
3,563
3,651
Work in process
1,090
810
Raw materials and supplies
10,130
10,486
Others
2,799
2,715
Allowance for doubtful accounts
(494)
(469)
Total current assets
61,419
59,036
Noncurrent assets
Tangible fixed assets
Building and structures, net
6,248
5,912
Machinery, equipment and vehicles, net
12,266
13,142
Land
2,568
2,560
Lease assets, net
1,297
1,111
Construction in progress
4,044
4,878
Other tangible fixed assets, net
1,905
1,979
Total tangible fixed assets
28,331
29,583
Intangible assets
1,883
1,745
Others
Total intangible assets
1,883
1,745
Investments and other assets
Investment securities
2,841
3,192
Net defined benefit asset
2,300
2,348
Deferred tax assets
225
253
Others
484
907
Total investments and other assets
5,851
6,701
Total noncurrent assets
36,067
38,030
Total assets
97,486
97,067
(Millions of yen)
FY2024
As of March 31, 2025
FY2025_3Q
As of December 31, 2025
Amount
Amount
(Liabilities)
Current liabilities
Notes and accounts payable-trade
12,550
13,888
Electronically recorded obligations - operating
3,623
4,912
Short-term loans payable
6,040
1,180
Lease obligations
477
452
Income taxes payable
849
910
Accrued expenses
3,687
3,494
Provision for bonuses
1,696
1,005
Provision for directors' bonuses
54
49
Provision for product warranties
1,209
683
Provision for loss on order received
214
235
Electronically recorded obligations - non-operating
241
541
Others
1,357
1,397
Total current liabilities
32,003
28,752
Noncurrent liabilities
Long-term loans payable
12,590
15,420
Lease obligations
2,403
1,887
Deferred tax liabilities
1,017
1,268
Net defined benefit liability
404
386
Provision for share awards
186
399
Asset retirement obligations
94
94
Others
42
21
Total noncurrent liabilities
16,738
19,478
Total liabilities
48,742
48,230
(Net assets)
Shareholders' equity
Capital stock
8,570
8,570
Capital surplus
6,877
6,863
Retained earnings
25,512
26,907
Treasury stock
(901)
(917)
Total shareholders' equity
40,059
41,424
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
18
28
Foreign currency translation adjustment
6,976
5,936
Remeasurements of defined benefit plans
1,635
1,390
Total accumulated other comprehensive income
8,630
7,355
Non-controlling interests
54
57
Total net assets
48,744
48,836
Total liabilities and net assets
97,486
97,067
Quarterly consolidated statements of income and quarterly consolidated statement of comprehensive income (Quarterly consolidated statements of income)
(Millions of yen)
Nine months ended December 31, 2024
(Apr. 1, 2024-December 31, 2024)
Nine months ended December 31, 2025
(Apr. 1, 2025-December 31, 2025)
Amount
Amount
Net sales
113,844
118,082
Cost of sales
100,506
101,163
Gross profit
13,338
16,918
Selling, general and administrative expenses
Packing and delivery expenses
1,296
1,420
Salaries and allowances
1,971
2,057
Provision for bonuses
299
303
Provision for directors' bonuses
22
49
Retirement benefit expenses
(20)
(46)
Welfare expenses
1,136
1,259
Provision for product warranties
1,584
197
Provision of allowance for doubtful accounts
352
0
Research and development expenses
1,262
931
Provision for share awards
84
39
Others
2,242
2,377
Total selling, general and administrative expenses
10,233
8,589
Operating income (loss)
3,105
8,328
Non-operating income
Interest income
213
200
Dividends income
3
5
Equity in earnings of affiliates
352
548
Foreign exchange gains
459
46
Others
283
297
Total non-operating income
1,313
1,098
Non-operating expenses
Interest expenses
298
178
Others
2
24
Total non-operating expenses
301
203
Ordinary income (loss)
4,117
9,224
(Millions of yen)
Nine months ended December 31, 2024
(Apr. 1, 2024-December 31, 2024)
Nine months ended December 31, 2025
(Apr. 1, 2025-December 31, 2025)
Amount
Amount
Extraordinary income
Gain on sales of noncurrent assets
13
31
Gain on sales of investment securities
-
460
Total extraordinary income
13
492
Extraordinary loss
Loss on sales of noncurrent assets
9
0
Loss on retirement of noncurrent assets
1,161
45
Impairment loss
199
-
Total extraordinary loss
1,371
45
Income (loss) before income taxes
2,759
9,670
Income taxes-current
1,650
2,503
Income taxes-deferred
(55)
292
Total income taxes
1,594
2,795
Profit (loss)
1,164
6,875
Profit (loss) attributable to non-controlling interests
8
6
Profit (loss) attributable to owners of parent
1,156
6,869
(Quarterly consolidated statement of comprehensive income)
(Millions of yen）
Nine months ended December 31, 2024
(Apr. 1, 2024-December 31, 2024)
Nine months ended December 31, 2025
(Apr. 1, 2025-December 31, 2025)
Amount
Amount
Profit (loss)
1,164
6,875
Other comprehensive income
Valuation difference on available-for-sale securities
0
9
Foreign currency translation adjustment
326
(1,021)
Remeasurements of defined benefit plans, net of tax
(166)
(232)
Share of other comprehensive income of associates accounted for using equity
method
68
(34)
Total other comprehensive income
229
(1,278)
Comprehensive income
1,394
5,596
(Breakdown)
Comprehensive income attributable to owners of the parent
1,386
5,593
Comprehensive income attributable to non-controlling interests
8
2
Quarterly consolidated statements of cash flows
(Millions of yen)
Nine months ended December 31, 2024 (Apr. 1, 2024-December 31, 2024) | Nine months ended December 31, 2025 (Apr. 1, 2025-December 31, 2025) | |
Amount | Amount | |
Net cash provided by (used in) operating activities | ||
Profit (loss) before income taxes | 2,759 | 9,670 |
Depreciation and amortization | 3,985 | 4,000 |
Retirement benefit expenses | (236) | (298) |
Increase (decrease) in retirement benefit asset and liability | (25) | (56) |
Increase (decrease) in allowance for doubtful accounts | 346 | (6) |
Increase (decrease) in provision for bonuses | (643) | (688) |
Increase (decrease) in provision for directors' bonuses | (10) | (5) |
Increase (decrease) in provision for product warranties | 1,108 | (512) |
Loss on retirement of noncurrent assets | 1,161 | 45 |
Loss(gain) on sales of tangible fixed assets | (3) | (31) |
Loss (gain) on sales of investment securities | - | (460) |
Interest and dividends income | (217) | (205) |
Interest expenses | 298 | 178 |
Foreign exchange losses (gains) | (214) | (37) |
Equity in (earnings) losses of affiliates | (352) | (548) |
Impairment loss | 199 | - |
Decrease(increase) in notes and accounts receivable-trade | 2,266 | (562) |
Decrease(increase) in inventories | 428 | (584) |
Increase(decrease) in notes and accounts payable-trade | (2,520) | 2,937 |
Decrease(increase) in other current assets | (224) | 51 |
Increase (decrease) in other current liabilities | 124 | (77) |
Other, net | 74 | 229 |
Subtotal | 8,304 | 13,037 |
Interest and dividends income received | 400 | 365 |
Interest expenses paid | (314) | (196) |
Income taxes paid | (2,329) | (2,349) |
Net cash provided by (used in) operating activities | 6,061 | 10,856 |
(Millions of yen)
Nine months ended December 31, 2024 (Apr. 1, 2024-December 31, 2024) | Nine months ended December 31, 2025 (Apr. 1, 2025-December 31, 2025) | |
Amount | Amount | |
Net cash provided by (used in) investing activities | ||
Purchase of tangible assets | (4,102) | (5,205) |
Proceeds from sales of tangible fixed assets | 10 | 57 |
Purchase of intangible assets | (250) | (163) |
Purchase of investment securities | (580) | - |
Proceeds from sales of investment securities | - | 464 |
Payments into time deposit | (2,232) | (1,158) |
Proceeds from withdrawal of time deposits | 1,289 | 1,062 |
Others | 132 | (438) |
Net cash provided by (used in) investing activities | (5,732) | (5,380) |
Net cash provided by (used in) financing activities | ||
Net increase (decrease) in short-term loans payable | (4,224) | (1,886) |
Proceeds from long-term loans payable | 650 | 3,810 |
Repayment of long-term loans payable | (610) | (3,870) |
Purchase of treasury stock | (280) | (3,645) |
Cash dividends paid | (1,248) | (1,896) |
Cash dividends paid to non-controlling shareholders | (100) | - |
Payments from changes in ownership interests in subsidiaries that do not result in change in scope of consolidation | (381) | - |
Others | (299) | (369) |
Net cash provided by (used in) financing activities | (6,495) | (7,858) |
Effect of exchange rate change on cash and cash equivalents | 212 | (184) |
Net increase (decrease) in cash and cash equivalents | (5,954) | (2,566) |
Cash and cash equivalents at beginning of period | 20,204 | 15,698 |
Cash and cash equivalents at end of period | 14,250 | 13,131 |