February 10, 2026
The following statements are an English translation of the original Japanese document.
(All financial information has been prepared in accordance with accounting principles generally accepted in Japan.)
Name of company… | Taikisha Ltd. | |
Stock Exchange…… | Tokyo Stock Exchange | |
Code……………… | 1979 | |
Representative…… | Masashi Osada, President and Representative Director | |
Contact…………… | Seiji Takeshita, Managing Corporate Officer, Administrative Management Headquarters Chief Executive | |
TEL……………… | (03)5338 - 5052 | |
URL……………… | https://www.taikisha.co.jp/ | |
Scheduled date to commence dividend payments | ： － | |
Supplemental materials prepared for financial results | ： Yes | |
Briefing session of financial results | ： None | |
(Round down to one million yen)
-
Consolidated Operating Performance (April 1, 2025 through December 31, 2025)
-
Consolidated operating results (Cumulative) (% indicates increase ratio over previous year)
Sales
Operating income
Ordinary income
Profit attributable
to owners of parent
Nine months ended
million yen
%
million yen
%
million yen
%
million yen
%
December 31, 2025
202,229
9.5
15,329
54.4
16,584
45.2
11,089
35.5
December 31, 2024
184,766
(10.0)
9,926
(18.1)
11,421
(14.1)
8,186
(20.0)
(Note) Comprehensive income
Nine months ended December 31, 2025
15,701 million yen
104.6 %
Nine months ended December 31, 2024
7,672 million yen
(53.6) %
Profit attributable to
owners of parent per share
Profit attributable to
owners of parent per share (Diluted)
Nine months ended
yen
yen
December 31, 2025
173.82
-
December 31, 2024
125.66
-
(Note) The Company conducted a 2-for-1 share split of shares of common share, with an effective date of April 1, 2025. "Profit attributable to owners of parent per share" is calculated assuming that the share split was executed at the beginning of the previous consolidated fiscal year.
(Note) Shareholders' Equity
As of December 31, 2025
152,661 million yen
2. Dividends
As of March 31, 2025
148,053 million yen
-
Consolidated financial position
Total assets
Net assets
Equity capital ratio
As of
million yen
million yen
%
December 31, 2025
281,833
161,230
54.2
March 31, 2025
268,448
156,486
55.2
Dividend per share
1Q
2Q
3Q
Year End
Total
(annually)
Year ended
yen
yen
yen
yen
yen
March 31, 2025
-
60.00
-
84.00
144.00
March 31, 2026
-
40.00
-
Year ending March 31,
54.00
94.00
2026 (Forecast)
(Note) Revisions to forecast of dividends : None
The Company conducted a 2-for-1 share split of shares of common share, with an effective date of April 1, 2025. The amounts shown for the fiscal year ended March 31, 2025 are the actual amount of dividends paid before the share split. The amounts shown for the fiscal year ending March 31, 2026 (forecast) are the figures after the share split.
-
Consolidated Earnings Forecast for Fiscal Year Ending March 31, 2026 (April 1, 2025 through March 31, 2026)
(% indicates increase ratio over previous year)
Sales
Operating income
Ordinary income
Profit attributable to owners of parent
Profit attributable
to owners of parent per share
Full year
million yen
%
million yen
%
million yen
%
million yen
%
yen
286,700
3.8
21,300
18.5
23,000
15.4
14,400
30.6
225.70
(Note) Revisions to forecast of earnings : Yes
- Others
(1)
Significant changes in the scope of consolidation during the period
: None
(2)
Adoption of particular accounting treatments for quarterly consolidated financial statements
: None
(3)
Changes in accounting policies, changes in accounting estimates and restatements
(i)
Changes in accounting policies due to revisions of accounting standards etc.
: None
(ii)
Changes in accounting policies other than (i)
: None
(iii)
Changes in accounting estimates
: None
(iv)
Restatements
: None
(4)
Number of shares issued (common shares)
(i) Number of shares issued at end of period (including treasury shares)
As of December 31, 2025
67,164,018
shares
As of March 31, 2025
67,164,018
shares
(ii) Number of treasury shares at end of period
As of December 31, 2025
4,164,419
shares
As of March 31, 2025
2,311,280
shares
(iii) Average number of shares during the period
Nine months ended December 31, 2025
63,800,127
shares
Nine months ended December 31, 2024
65,143,663
shares
(Note) 1
The Company conducted a 2-for-1 share split of shares of common share, with an effective date of April 1, 2025. "Number of shares issued (common shares)" is calculated assuming that the share split was executed at the beginning of the previous consolidated fiscal year.
2
The Company has introduced the "Board Benefit Trust (BBT)" as its performance-linked and share-based compensation plan and its own shares remaining in the Trust are included as treasury shares. The number of treasury shares owned by the trust as of December 31, 2025 and as of March 31, 2025 are 294,300 and 298,800, respectively. The average number of treasury shares owned by the trust for nine months ended December 31, 2025 and for nine months ended December 31,
2024 are 296,100 and 298,880, respectively.
※
Review of the Japanese-language originals of the attached quarterly consolidated financial statements by certified public accountants or auditing firms : Yes (optional)
※
Explanation about the proper use of consolidated forecasts and other notes
Data and forward-looking statements disclosed herein are based on current information as of today, and may change depending upon various factors. The data and assumptions do not mean guaranteeing accomplishment of goals and projections, and may be changed at any time without notice. Consequently, the Company ask you to use this information at your discretion based upon your own judgment and information you may obtain through
other sources. The company will not be liable for any damages that result from the use of this information.
1 Consolidated Financial Statements
Consolidated Balance Sheets
Millions of yen
As of March 31, 2025
As of December 31, 2025
Assets
Current assets
Cash and deposits
47,556
63,684
Notes receivable, accounts receivable from completed construction
contracts and other
151,900
128,180
Costs on uncompleted construction contracts
2,437
3,047
Raw materials and supplies
1,011
1,148
Other
9,270
21,712
Allowance for doubtful accounts
(1,240)
(1,225)
Total current assets
210,935
216,548
Non-current assets
Property, plant and equipment
13,742
13,872
Intangible assets
Goodwill
715
753
Other
1,232
1,193
Total intangible assets
1,947
1,946
Investments and other assets
Investment securities
26,324
31,838
Deferred tax assets
832
1,510
Net defined benefit asset
11,792
13,008
Other
2,975
3,428
Allowance for doubtful accounts
(101)
(318)
Total investments and other assets
41,822
49,466
Total non-current assets
57,513
65,285
Total assets
268,448
281,833
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts and other
49,590
40,954
Short-term loans payable
13,200
20,426
Income taxes payable
1,892
1,732
Advances received on uncompleted construction contracts
19,668
20,107
Provision for bonuses
-
5,535
Provision for warranties for completed construction
689
596
Provision for loss on construction contracts
356
49
Provision for directors' bonuses
172
108
Other
15,461
16,240
Total current liabilities
101,030
105,752
Non-current liabilities
Long-term loans payable
116
45
Deferred tax liabilities
8,306
10,840
Provision for directors' retirement benefits
42
50
Provision for share awards
54
59
Provision for share awards for directors
439
548
Net defined benefit liability
1,473
1,677
Provision for loss on closing of factory
-
1,059
Other
498
569
Total non-current liabilities
10,931
14,851
Total liabilities
111,962
120,603
Millions of yen
As of March 31, 2025
As of December 31, 2025
Net assets
Shareholders' equity
Capital stock
6,455
6,455
Capital surplus
3,772
3,818
Retained earnings
118,270
124,088
Treasury shares
(4,969)
(9,962)
Total shareholders' equity
123,528
124,399
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
11,688
15,928
Deferred gains or losses on hedges
(5)
36
Foreign currency translation adjustment
10,383
9,470
Accumulated remeasurements of defined benefit plans
2,458
2,826
Total accumulated other comprehensive income
24,524
28,261
Non-controlling interests
8,433
8,568
Total net assets
156,486
161,230
Total liabilities and net assets
268,448
281,833
Consolidated Income Statements and Consolidated Statements of Comprehensive Income Consolidated Income Statements
Millions of yen
Nine months ended December 31, 2024
Apr. 1, 2024 - Dec. 31, 2024
Nine months ended December 31, 2025
Apr. 1, 2025 - Dec. 31, 2025
Net sales of completed construction contracts
184,766
202,229
Cost of sales of completed construction contracts
156,774
164,238
Gross profit on completed construction contracts
27,991
37,991
Selling, general and administrative expenses
18,064
22,661
Operating income
9,926
15,329
Non-operating income
Interest income
579
558
Dividend income
559
607
Dividend income of insurance
191
155
Real estate rent
103
154
Foreign exchange gains
38
-
Reversal of allowance for doubtful accounts
0
-
Other
368
300
Total non-operating income
1,840
1,776
Non-operating expenses
Interest expenses
196
229
Rent expenses on real estates
12
10
Foreign exchange losses
-
96
Provision of allowance for doubtful accounts
-
1
Share of loss of entities accounted for using equity method
92
79
Other
43
103
Total non-operating expenses
345
521
Ordinary income
11,421
16,584
Extraordinary income
Gain on disposal of non-current assets
6
158
Gain on sale of investment securities
1,932
1,442
Total extraordinary income
1,939
1,600
Extraordinary losses
Loss on disposal of non-current assets
2
13
Impairment losses
1
1
Loss on valuation of investment securities
-
25
Loss on liquidation of subsidiaries and associates
2
-
Provision for loss on closing of factory
-
1,059
Total extraordinary losses
6
1,099
Profit before income taxes
13,355
17,084
Income taxes-current
2,454
5,019
Income taxes-deferred
1,737
(222)
Total income taxes
4,192
4,797
Profit
9,162
12,287
Profit attributable to non-controlling interests
976
1,197
Profit attributable to owners of parent
8,186
11,089
Consolidated Statements of Comprehensive Income
Millions of yen
Nine months ended December 31, 2024
Apr. 1, 2024 - Dec. 31, 2024
Nine months ended December 31, 2025
Apr. 1, 2025 - Dec. 31, 2025
Profit
9,162
12,287
Other comprehensive income
Valuation difference on available-for-sale securities
(2,187)
4,239
Deferred gains or losses on hedges
60
41
Foreign currency translation adjustment
1,033
(1,160)
Remeasurements of defined benefit plans
(415)
319
Share of other comprehensive income of entities accounted for using equity
method
19
(26)
Total other comprehensive income
(1,489)
3,414
Comprehensive income
7,672
15,701
Comprehensive income attributable to :
Owners of parent
6,569
14,826
Non-controlling interests
1,103
874
(Notes of consolidated statements of cash flows)
The Company does not prepare quarterly consolidated statements of cash flows for nine months ended December 31, 2025. Shown below are depreciation (including amortization of intangible assets, excluding goodwill) and amortization of goodwill for nine months ended December 31, 2024 and for nine months ended December 31, 2025.
Millions of yen
Nine months ended December 31, 2024
Apr. 1, 2024 - Dec. 31, 2024
Nine months ended December 31, 2025
Apr. 1, 2025 - Dec. 31, 2025
Depreciation
1,282
1,529
Amortization of goodwill
379
65
(Segment information)
Nine months ended December 31, 2024 (April 1, 2024 - December 31, 2024)
Sales and profits or losses by reportable segments
Millions of yen
Reportable segments
Eliminations/ Corporate
Amount recorded in the consolidated financial statements
Green Technology System Division
Paint Finishing System Division
Total
Sales
Sales to customers
114,376
70,389
184,766
-
184,766
Intersegment
22
-
22
(22)
-
Total
114,398
70,389
184,788
(22)
184,766
Segment profit
8,767
1,541
10,309
1,112
11,421
(Note) 1. The amount of Eliminations/ Corporate is as follows:
Eliminations/ Corporate of Segment profit of 1,112 million yen includes non-allocatable common profits (net amount of common profit and loss) of 1,134 million yen and other adjustments of minus 22 million yen.
Non-allocatable common profit and loss are mainly general and administrative expenses and dividend income etc. those are not attributed to any reportable segments.
Segment profit is adjusted in the ordinary income of the consolidated income statement.
-
Consolidated Earnings Forecast for Fiscal Year Ending March 31, 2026 (April 1, 2025 through March 31, 2026)
-
Consolidated operating results (Cumulative) (% indicates increase ratio over previous year)
Impairment loss on non-current assets or goodwill etc. by reportable segment Not applicable.
Nine months ended December 31, 2025 (April 1, 2025 - December 31, 2025)
Sales and profits or losses by reportable segments
Millions of yen
Reportable segments
Eliminations/ Corporate
Amount recorded in the consolidated financial statements
Green Technology System Division
Paint Finishing System Division
Total
Sales
Sales to customers
129,599
72,630
202,229
-
202,229
Intersegment
18
-
18
(18)
-
Total
129,617
72,630
202,248
(18)
202,229
Segment profit
13,694
2,313
16,007
576
16,584
(Note) 1. The amount of Eliminations/ Corporate is as follows:
Eliminations/ Corporate of Segment profit of 576 million yen includes non-allocatable common profits (net amount of common profit and loss) of 574 million yen and other adjustments of 2 million yen.
Non-allocatable common profit and loss are mainly general and administrative expenses and dividend income etc. those are not attributed to any reportable segments.
Segment profit is adjusted in the ordinary income of the consolidated income statement.
2. Impairment loss on non-current assets or goodwill etc. by reportable segment Not applicable.
(Notes on significant subsequent events) (Retirement of treasury shares)
The Company has resolved to retire treasury shares pursuant to Article 178 of the Companies Act at the meeting of the
Board of Directors held on February 10, 2026 as stated below.
1. Type of shares to be retired | Common shares of the Company |
2. Total number of shares to be retired | 3,700,000 shares (5.51% of issued shares before the retirement) |
3. Scheduled date of the retirement | February 27, 2026 |
4. Total numbers of issued shares after the retirement | 63,464,018 shares |
(Supplementary information)
Statement for orders received during this period, net sales of completed construction contracts during this period, and construction carried forward by division (consolidated)
Millions of yen
Nine months ended December 31, 2024
(Apr. 1, 2024 - Dec. 31, 2024)
Nine months ended December 31, 2025
(Apr. 1, 2025 - Dec. 31, 2025)
Increase (decrease)
Amounts
%
Amounts
%
Amounts
%
Orders received
Green Technology System Division
Building HVAC
38,987
18.7
42,739
18.4
3,751
9.6
Industrial HVAC
93,109
44.5
95,630
41.1
2,520
2.7
Total
132,097
63.2
138,370
59.5
6,272
4.7
[Overseas]
[
42,121
]
[
20.2
]
[
48,459
]
[
20.8
]
[
6,338
]
[
15.0
]
Paint Finishing System Division
77,048
36.8
94,343
40.5
17,294
22.4
[Overseas]
[
60,521
]
[
28.9
]
[
83,302
]
[
35.8
]
[
22,781
]
[
37.6
]
Total
209,146
100.0
232,713
100.0
23,567
11.3
[Overseas]
[
102,642
]
[
49.1
]
[
131,762
]
[
56.6
]
[
29,119
]
[
28.4
]
Net sales of completed construction contracts
Green Technology System Division
Building HVAC
25,287
13.7
30,293
15.0
5,005
19.8
Industrial HVAC
89,088
48.2
99,305
49.1
10,217
11.5
Total
114,376
61.9
129,599
64.1
15,222
13.3
[Overseas]
[
42,083
]
[
22.8
]
[
41,006
]
[
20.3
]
[
(1,077)
]
[
(2.6)
]
Paint Finishing System Division
70,389
38.1
72,630
35.9
2,240
3.2
[Overseas]
[
45,001
]
[
24.3
]
[
56,140
]
[
27.7
]
[
11,139
]
[
24.8
]
Total
184,766
100.0
202,229
100.0
17,463
9.5
[Overseas]
[
87,084
]
[
47.1
]
[
97,146
]
[
48.0
]
[
10,062
]
[
11.6
]
Construction carried forward
Green Technology System Division
Building HVAC
52,759
20.0
68,461
25.5
15,702
29.8
Industrial HVAC
108,281
41.2
92,724
34.6
(15,556)
(14.4)
Total
161,040
61.2
161,186
60.1
145
0.1
[Overseas]
[
42,527
]
[
16.2
]
[
49,016
]
[
18.3
]
[
6,489
]
[
15.3
]
Paint Finishing System Division
102,025
38.8
107,204
39.9
5,178
5.1
[Overseas]
[
75,198
]
[
28.6
]
[
94,305
]
[
35.1
]
[
19,106
]
[
25.4
]
Total
263,066
100.0
268,390
100.0
5,324
2.0
[Overseas]
[
117,725
]
[
44.8
]
[
143,321
]
[
53.4
]
[
25,595
]
[
21.7
]
(Note) 1. The amounts of orders received, net sales of completed construction contracts, and carried forward are the transacted amount with external customers.
In the previous consolidated cumulative third quarter, there is 22 million yen difference between net sales of completed construction contracts of 114,376 million yen and total sales of 114,398 million yen in the segment information by the Green Technology System Division.
There is no difference between net sales of completed construction contracts and total sales in the segment information by the Paint Finishing System Division.
In the consolidated cumulative third quarter, there is 18 million yen difference between net sales of completed construction contracts of 129,599 million yen and total sales of 129,617 million yen in the segment information by the Green Technology System Division.
There is no difference between net sales of completed construction contracts and total sales in the segment information by the Paint Finishing System Division.
Statement for orders received during this period, net sales of completed construction contracts during this period, and construction carried forward by division (Non-consolidated)
Millions of yen
Nine months ended December 31, 2024
(Apr. 1, 2024 - Dec. 31, 2024)
Nine months ended December 31, 2025
(Apr. 1, 2025 - Dec. 31, 2025)
Increase (decrease)
Amounts
%
Amounts
%
Amounts
%
Orders received
Green Technology System Division
Building HVAC
36,619
33.1
38,654
39.0
2,035
5.6
Industrial HVAC
50,801
46.0
46,760
47.2
(4,041)
(8.0)
Total
87,421
79.1
85,414
86.2
(2,006)
(2.3)
[Overseas]
[
237
]
[
0.2
]
[
102
]
[
0.1
]
[
(135)
]
[
(57.0)
]
Paint Finishing System Division
23,072
20.9
13,695
13.8
(9,376)
(40.6)
[Overseas]
[
8,283
]
[
7.5
]
[
4,642
]
[
4.7
]
[
(3,641)
]
[
(44.0)
]
Total
110,493
100.0
99,110
100.0
(11,383)
(10.3)
[Overseas]
[
8,521
]
[
7.7
]
[
4,744
]
[
4.8
]
[
(3,776)
]
[
(44.3)
]
Net sales of completed construction contracts
Green Technology System Division
Building HVAC
23,045
23.6
26,735
24.8
3,690
16.0
Industrial HVAC
47,319
48.6
58,019
53.8
10,699
22.6
Total
70,364
72.2
84,754
78.6
14,389
20.4
[Overseas]
[
703
]
[
0.7
]
[
196
]
[
0.2
]
[
(507)
]
[
(72.1)
]
Paint Finishing System Division
27,058
27.8
23,080
21.4
(3,978)
(14.7)
[Overseas]
[
2,929
]
[
3.0
]
[
8,073
]
[
7.5
]
[
5,143
]
[
175.6
]
Total
97,423
100.0
107,834
100.0
10,411
10.7
[Overseas]
[
3,633
]
[
3.7
]
[
8,270
]
[
7.7
]
[
4,636
]
[
127.6
]
Construction carried forward
Green Technology System Division
Building HVAC
48,781
32.5
64,815
51.2
16,034
32.9
Industrial HVAC
65,844
43.9
43,668
34.4
(22,175)
(33.7)
Total
114,625
76.4
108,484
85.6
(6,141)
(5.4)
[Overseas]
[
170
]
[
0.1
]
[
13
]
[
0.0
]
[
(156)
]
[
(92.1)
]
Paint Finishing System Division
35,321
23.6
18,182
14.4
(17,138)
(48.5)
[Overseas]
[
9,556
]
[
6.4
]
[
6,664
]
[
5.3
]
[
(2,891)
]
[
(30.3)
]
Total
149,946
100.0
126,666
100.0
(23,279)
(15.5)
[Overseas]
[
9,726
]
[
6.5
]
[
6,677
]
[
5.3
]
[
(3,048)
]
[
(31.3)
]
Sales by regions
Nine months ended December 31, 2024 (April 1, 2024 - December 31, 2024)
Millions of yen
Japan | North America | Southeast Asia | East Asia | India | Other | Total | ||
Thailand | Other Southeast Asia | China | Other East Asia | |||||
97,681 | 20,267 | 12,156 | 26,999 | 9,852 | 3,472 | 13,453 | 882 | 184,766 |
Nine months ended December 31, 2025 (April 1, 2025 - December 31, 2025)
Millions of yen
Japan | North America | Southeast Asia | East Asia | India | Other | Total | ||
Thailand | Other Southeast Asia | China | Other East Asia | |||||
105,082 | 22,214 | 12,369 | 21,066 | 7,088 | 4,125 | 22,983 | 7,298 | 202,229 |
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