Torishima Pump Mfg.co., Ltd. TSE:6363

Torishima Pump Mfg : Presentation Material of Consolidated Financial Results for the 2nd quarter FY2025

Published

Source: MarketScreener

Consolidated Financial Results for the 2nd Quarter of FY2025

(April 1st 2025 ~ September 30th 2025)

12th November, 2025

TORISHIMA PUMP MFG.CO.,LTD.



【1】Financial Results for the 2Q FY2025

【2】Response to Key Issues

【3】FY2025 Full-Year Forecast

【4】Topics



【1】Financial Results for the 2Q FY2025

【2】Response to Key Issues 【3】FY2025 Full-Year Forecast 【4】Topics


  • Orders received totaled 48.3 billion yen, progressing steadily toward the annual plan.

  • Net sales significantly increased to 41.2 billion yen, driven by strong performance in public-sector, private-sector demand, overseas markets, and subsidiaries.

  • The gross profit margin fell by1.6 pt, resulting in operating profit of 0.5 billion yen, down 0.1 billion yen year on year.

  • Net income declined by 0.6 billion yen year-over-year, partly due to the 1.0 billion yen in extraordinary income recorded in the previous fiscal year.

  • Sales are steadily progressing toward the FY2029 medium-term target of 100 billion yen. While profitability is expected to exceed the previous year, we have revised our initial profit forecast downward as the effects of cost-reduction investments will be realized from next fiscal year onward.

2Q FY2025 Highlights



Billions of yen

Y0Y

billions of yen

  • Orders Received

-

48.3

-9.5

  • Sales

-

41.2

+3.6

  • Operating Income

-

0.5

-0.1

  • Ordinary Income

-

0

+0.2

  • Net Income

-

-0.1

-0.6

2Q FY2025 Financial Results Outline



2Q FY2024

2Q FY2025

YOY

FY2025 plan

Progress

Amount

%

Orders Received

57.8

48.3

-9.5

-16.4%

90.0

53.7%

Sales

37.6

41.2

+3.6

+9.6%

89.0

46.3%

Gross Operating Income

(Gross profit margin)

9.6

(25.5 %)

9.9

(23.9%)

+0.3

(-1.6pt)

+3.1%

SG&A expense

8.9

9.3

+4

+4.5%

Operating income

(Operating profit margin)

0.6

(1.6%)

0.5

(1.3%)

-0.1

(-0.3pt)

-16.7%

6.7

(7.5%)

7.5%

Non-operating Profit or loss

-0.8

-0.5

+0.3

-

-

Ordinary income

-0.2

0

+0.2

-

5.8

-

Extraordinary profit or loss

1.0

-

-1.0

-100.0%

-

Net income

0.5

-0.1

-0.6

-

4.3

-

Orders Received: Although the figure was 48.3 billion yen, a year-on-year decrease of 9.5 billion yen, it still maintained the second-highest level of orders received in the past five years.

Sales: 15.6% increase in public-sector, 4.8% increase in private-sector, 9.6% increase in overseas, resulting in an overall increase by 9.8% to 41.2 billion yen.

Profits: Despite an increase in revenue, the decline in the gross profit margin resulted in operating profit of 0.5 billion yen, a year-on-year decrease of 0.1 billion yen.

Foreign exchange rate（1USD) 30/09/2024: ¥142.73 30/09/2025: ¥148.88 Assumed rate: ¥145

2Q FY2025 Consolidated Financial Results

Billions of yen



2Q FY2024

2Q FY2025

YOY

2Q FY2024

2Q FY2025

YOY

Amount

%

Amount

%

Sales

26.6

32.0

+5.4

+20.3%

14.9

16.5

+1.6

+10.7%

Gross Operating Income

(Gross profit margin)

4.6

(17.3%)

4.6

(14.4%)

0 (-2.9pt)

±0

5.3

(35.6%)

5.6

(33.7%)

+0.3 (-1.9pt)

+5.7%

SG&A expense

5.3

5.3

0

±0

4.0

4.2

+0.2

+5.0%

Operating income

(Operating profit margin)

-0.8

(-3.0%)

-0.7

(-2.2%)

+0.1 (0.8pt)

-

1.4

(9.4%)

1.4

(8.3%)

-0 (-1.1pt)

+0.0%

  • Sales and gross profit both increased, primarily driven by service subsidiaries.

  • Meanwhile, selling, general, and administrative (SG&A) expenses grew due to the impact of fixed costs, such as personnel expenses.

  • Consequently, operating income was 1.4 billion yen, flat year-over-year (YoY).

Sales significantly grew to 32.0 billion yen, driven by steady revenue recognition from percentage-of-completion (PoC) in public-sector projects and increased orders for the Middle East and North America.

Conversely, the gross profit margin significantly deteriorated by 2.9 percentage points (pt.), primarily due to the higher proportion of lower-margin high-tech pumps in the sales mix, compounded by a substantial increase in outsourcing costs accompanying the revenue growth.

Although SG&A expenses saw an increase in personnel costs due to wage adjustments, fixed costs remained at the prior-year level.

As a result, operating profit is expected to remain at the same level as the previous fiscal year.

*The subsidiary results are presented before consolidation adjustments; therefore, the sum of the parent company and subsidiaries does not equal the consolidated results.

2Q FY2025 Financial Results（Non-consolidated / Subsidiaries）

  • Non-consolidated

Billions of yen

  • ​Subsidiaries

Billions of yen



110 Millions Yen Decrease in Operating Profit

Millions of yen

  • Positive Factors ■ Negative Factors

640

The increase in lower-margin projects led to a 1.6-point reduction in the gross profit margin.

1270

-720

-120

Driven by staff increases and salary hikes.

-110

-480

40

530

FY2024•2Q

Operating Profit

Impact of increased sales

Profitability Foreign exchange impact

Change in sales commissions

Personnel expenses

Change in other SG&A expenses

FY2025•2Q

Operating Profit

*The figures for each item in the variance analysis do not reconcile with the amounts in the statement of income,

Analysis of changes in consolidated operating profit

Sales grew across public-sector, private-sector, overseas, and subsidiaries.





Gross profit margin

(first half, second half, full year)

24.4%

21.4%

19.4%

25.2%

22.8%



21.5%

24.1%



23.1%

22.6%



24.3%

21.3%

20.1%

17.3%



22.1%

25%

20~21%

forecast

4.6

14.4%

First half

4.6

11.8

9.7

8.7

14.2

Second half

8.3

First

half



forecast

15.6%

Gross profit income

(billions of yen)

FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

  • In 1H FY2025, Gross Profit declined due to a higher proportion of lower-margin high-tech pumps and an increase in outsourcing costs associated with rising sales.

  • Building on this year's focus on strengthening "manufacturing capabilities," we are accelerating our service business to improve profitability, with significant contributions to gross profit expected from next fiscal year.

Trends in gross profit margin (first half, second half, full year) and full year gross profit



Trends in High-Tech Pumps and Services

Consolidated Sales (billions of yen）

Full year 34.9

Second half 17.8

36.5

Full year

上期

206

First

half

12.5

Second half 129

24.6

25.4

14.1

High-Tech Pump

15.2

Services

First half 20.6

First half 12.6

14.1

First half 17.1

17.2

17.6

22.3

FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

Sales of high-tech pumps have been performing strongly, reaching a record high for the first half of the fiscal year, whereas the service segment



23.7%

24.4%

23.7%

22.7%

22.6%





25.5%

25.0%

20.4%

19.4%

20.1%

20.9%

19.2%

20~21%

forecast



20.0%

15.0%

10.0%

FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

SG&A increased by 0.4 billion yen, but due to higher sales, the SG&A-to-sales ratio declined. The main driver of the increase in the first half was higher personnel costs (0.2 billion yen). On a standalone basis, SG&A remained flat, while it increased at subsidiaries and on a consolidated basis.

Trends in SG&A-to-Sales Ratio (Consolidated)

30.0%

上期

通期



【1】Financial Results for the 2Q FY2025

【2】Response to Key Issues

【3】FY2025 Full-Year Forecast 【4】Topics


  1. Strengthen manufacturing capabilities

    Enhance profitability by increasing in-house production through both "Front-loading" and "Production capacity expansion".

  2. Strengthen Service business

Further grow the high-margin service business to raise overall profitability.

Response to Key Issues





・Information sharing with customers

・Eliminating rework and other inefficiencies.

Reduce overall workload

Source:

Practical Engineering Chain Management: Innovating Design and Development with IoT

Hino Mitoyon (Author) Nikkan Kogyo Shimbun

On the scale of 10 engineers have been transferred from the design department to the sales front. This enables early finalization of specifications, securing lead time for downstream processes, and building a foundation to

Response to Key Issues

Strengthen manufacturing capabilities：Front-loading



＜Utilization of subsidiaries＞

①A machining facility is under construction at our service site in India, with preliminary operations starting in the existing service plant from the second half of the fiscal year.

②Design and production of boiler feed pumps have been partially transferred to Kyushu Torishima and are already underway.



India Service base（TPIPL） Kyushu Torishima

＜Acquisitions of two machining companies have been completed.＞

Outsourced machining is being brought in-house within the group; however, the impact on profits is expected from the next fiscal year onward.

Response to Key Issues

Strengthen manufacturing capabilities：Production capacity expansion



Response to Key Issues

Strengthen Service business

Consolidated Sales (billions of yen）

34.9

25.4

High-Tech Pump

上期

206

First half 12.5

Second half 12.9

15.2

17.2

17.6

First half 20.6

22.3

24.6

Services

14.1

14.1

First half 12.6

First half 17.1

Second half 17.8

36.5

FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

By placing service bases near end users, we aim to grow

our high-margin service business and improve overall profitability.





Response to Key Issues

Strengthen Service business

Torishima Service Solutions Europe Cryo Pump Repairs

Torishima Pumps (India) Service Division

Torishima Service Solutions Egypt

Torishima Service Solutions (Saudi Arabia) Ltd.

Torishima Service Solutions Qatar

Torishima Service Solutions (Abu Dhabi)

Head Office Factory

Torishima Service Solutions Formosa

Torishima Service Solutions Asia Pte. Ltd. Philippines

Torishima Service Solutions (Thailand)

P.T. Torishima Service Indonesia

Torishima Service Solutions of Michigan

Torishima Service Solutions FZCO (Dubai)

Torishima Service Solutions Malaysia

Australian Fluid Handling

Torishima Service Solutions Asia

We are operating our service business across 16 locations worldwide.

(The service site in Egypt is also scheduled to start operations as planned by March 2026.)

【1】Financial Results for the 2Q FY2025 【2】Response to Key Issues

【3】FY2025 Full-Year Forecast

【4】Topics


FY2024

Result

FY2025

Difference from initial plan

First half result

Initial plan

Revised plan

Orders Received

95.6

48.3

90.0

90.0

-

Sales

86.5

41.2

89.0

89.0

-

Gross Operating Income

23.5

9.9

24.5

23.9

-0.6

(Gross profit margin)

(27.2)

(23.9%)

(27.5%)

(26.9%)

(-0.6pt)

Operating income (Operating

5.4

0.5

6.7

5.8

-0.9

(1.3%)

(7.5%)

(6.5%)

（-1.0pt)

profit margin)

(6.2%)

Ordinary income

4.5

0

5.8

5.1

-0.7

Net income

4.0

-0.1

4.3

3.6

-0.7

Foreign exchange rate（1USD)

Sales remain stron

31st Mar. 2024:

￥149.52

g, with profita

30th Sep.2025:

￥148.88

bility above last

Assumed rate￥145 Assumed exchange rate

¥150

year's level. However, since

outsourcing cost reductions will take effect from next fiscal year, profits have been revised downward versus the plan.

FY2025 Full-Year Forecast (Consolidated)

billions of yen



  • Non consolidated ■Subsidiaries （Before consolidation adjustments）

billions of yen billions of yen

FY2024

result

First half

Difference from initial plan

FY2024

result

First half

Difference from initial plan

First half

Initial plan

Revised plan

First half

Initial plan

Revised plan

Sales

64.2

32.0

65.0

65.0

-

32.0

16.5

33.9

33.9

-

Gross Operating Income (Gross profit margin)

12.9

(20.1%)

4.6

(14.4%)

13.5

(20.8%)

13.0

(20.0%)

-0.5

(-0.8pt)

11.5

(35.9%)

5.6

(33.7%)

11.8

(34.8%)

11.6

(34.3%)

-0.2

（-0.5pt)

SG&A

expense

10.5

5.3

9.9

10.4

+0.5

8.2

4.2

8.5

8.3

-0.2

Operating income (Operating profit margin)

2.4

(3.7%)

-0.7

(-2.2%)

3.6

(5.5%)

2.6

(4.1%)

-1.0

(-1.4pt)

3.3

(10.3%)

1.4

(8.3%)

3.3

(9.7%)

3.3

(9.9%)

0

（+0.2pt)

*The subsidiar

y results are

presented b

efore consoli

dation

adjustments; therefore, the sum of the parent company and subsidiaries does not equal the consolidated results.

FY2025 Full-Year Forecast (Non consolidated & Subsidiaries)



【1】Financial Results for the 2Q FY2025 【2】Response to Key Issues 【3】FY2025 Full-Year Forecast

【4】Topics



New Machining Plant Project in India



A new machining plant will be established at the service site in India to enhance the group's overall machining capacity.



Phase 1: Initial Operations (Status/Progress)

Equipment Installation: Eight machines installed in the existing service plant. Start of Operations: Gradual start from 2H FY2025.

Main Activities: Machining HQ orders with locally sourced materials, service parts, and HQ-supplied materials.

Phase 2: Full-Scale Operations (Plan)

Around March 2026:

・Completion of the new machining plant building.

・Start of full-scale operations with relocation of existing machines and addition of two new machines.









From July 2025, design and production of small-diameter MHD high-pressure pumps, previously handled at the headquarters plant, will be transferred to group company Kyushu Torishima to reduce HQ workload. (40 units expected by March 2026)



Partial transfer of design and production of high-pressure high-tech pumps to Kyushu Torishima.



Juneung Co., Ltd. (Korea）







Established: 1992

Business Activities: Machining services for the pump and rotating equipment industry, with strengths in casing and

Acquisition Type: 100% Subsidiary

Background: Converted a key long-standing

machining subcontractor into a subsidiary.

Acquisition of Machining Company as a Subsidiary ①

Promote in-house production to strengthen cost competitiveness.



KRG Specialist Engineering Services Ltd.（UK）





Established: 1978

Business Activities: Precision machining, with

strengths in shafts and similar components

Acquisition Type: 100% acquisition by a fully owned

subsidiary (TSSE)

Acquisition of Machining Company as a Subsidiary ①

Promote in-house production to strengthen cost competitiveness.



Appendix

2Q FY2024

2Q FY2025

Orders received

Sales

Orders backlog

Orders received

Sales

Orders backlog

Public-sector

14,859

5,667

35,704

11,428

6,551

34,378

YOY

43.1%

14.7%

35.1%

-23.1%

15.6%

-3.7%

Private-sector

5,665

5,508

9,906

6,051

5,773

10,688

YOY

1.6 %

-9.3%

-0.8%

6.8 %

4.8%

7.9%

Overseas

37,293

26,388

69,780

30,802

28,914

66,243

YOY

28.5%

15.4%

10.8%

-17.4%

9.6%

-5.1%

Total

57,819

37,565

115,391

48,282

41,240

111,311

YOY

28.5%

10.8%

16.1%

-16.5%

9.8%

-3.5%

Orders Received, Sales and Orders Backlog by Segment

Millions of yen



Orders Received, Sales and Orders Backlog by Segment

40,000

30,000

20,000

10,000

0

80,000

60,000

40,000

20,000

0

Orders received



2021.2Q 2022.2Q 2023.2Q 2024.2Q 2025.2Q

Order backlog



2021.2Q 2022.2Q 2023.2Q 2024.2Q 2025.2Q

70,000

60,000

50,000

40,000

30,000

20,000

10,000

0

140,000

120,000

100,000

80,000

60,000

40,000

20,000

0

35,000

30,000

25,000

20,000

15,000

10,000

5,000

0

Sales



2021.2Q 2022.2Q 2023.2Q 2024.2Q 2025.2Q

Left

  • Public ■ Private ■ Overseas

    Total

    Total Millions of yen

    50,000

    40,000

    30,000

    20,000

    10,000

    0



    2Q FY2024

    2Q FY2025

    Orders received

    Sales

    Orders backlog

    Orders received

    Sales

    Orders backlog

    High-tech pump

    16,135

    17,123

    46,595

    22,678

    20,646

    45,822

    YOY

    -16.5%

    -5.5%

    -2.4%

    40.6%

    20.6%

    -1.7%

    Project

    22,534

    7,790

    48,749

    13,568

    7,797

    45,777

    YOY

    96.7%

    42.7%

    34.1%

    -39.8%

    0.1%

    -6.1%

    Service solutions

    18,999

    12,469

    19,822

    11,794

    12,611

    19,586

    YOY

    38.2%

    -24.4%

    32.4%

    -37.9%

    1.1%

    -1.2%

    Renewable Energy and Environment

    151

    183

    226

    242

    186

    127

    YOY

    -65.8%

    -34.2%

    -29.8%

    60.3%

    1.6%

    -43.8%

    Total

    57,818

    37,565

    115,391

    48,282

    41,240

    111,311

    YOY

    28.6%

    10.9%

    16.1%

    -16.5%

    9.8%

    -3.5%

    Orders Received, Sales and Orders Backlog by Business Domain

    Millions of yen



    Orders Received, Sales and Orders Backlog by Business Domain

    25,000

    20,000

    15,000

    10,000

    5,000

    0

    Orders received



    2021.2Q 2022.2Q 2023.2Q 2024.2Q 2025.2Q

    70,000

    60,000

    50,000

    40,000

    30,000

    20,000

    10,000

    0

    25,000

    20,000

    15,000

    10,000

    5,000

    0

    Sales



    2021.2Q 2022.2Q 2023.2Q 2024.2Q 2025.2Q

    50,000

    40,000

    30,000

    20,000

    10,000

    0

    60,000

    Order backlog

    40,000

    20,000

    0

    140,000

    120,000

    100,000

    80,000

    60,000

    40,000

    20,000

    0

    2021.2Q 2022.2Q 2023.2Q 2024.2Q 2025.2Q



    Left

    • High-tech Pumps ■ Projects

    • Service Solutions (aftermarket service)

    • Renewable Energy and Environment

Right

Total

Millions of yen

30