Summary of Financial Results 2026（368KB）

May 12, 2026

Company name: TSUKISHIMA HOLDINGS CO., LTD.

Listing: Tokyo Stock Exchange Securities code: 6332

URL: https://www.tsk-g.co.jp/

Representative: Jun Kawasaki President, Representative Director

Inquiries: Mitsumasa sato Treasury Dept, Senior General Maneger Telephone: +81-03）5560－6521

Scheduled date of annual general meeting of shareholders: June 24, 2026 Scheduled date to commence dividend payments: June 4, 2026 Scheduled date to file annual securities report: June 23, 2026

Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2026 (from April 1, 2025 to March 31, 2026)
   1. Consolidated operating results (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Fiscal year ended March 31, 2026 March 31, 2025	Millions of yen 148,954 139,235	% 7.0 12.1	Millions of yen 9,842 8,915	% 10.4 31.8	Millions of yen 10,987 10,254	% 7.2 31.3	Millions of yen 16,910 6,669	% 153.6 149.3

      Note: Comprehensive income	For the fiscal year ended March 31, 2026:	¥	22,873 million [	136.0%]
      	For the fiscal year ended March 31, 2025:	¥	9,691 million [	2.4%]

      	Basic earnings per share	Diluted earnings per share	Rate of return on equity	Ordinary profit to total assets ratio	Operating profit to net sales ratio
      Fiscal year ended	Yen	Yen	%	%	%
      March 31, 2026	412.69	-	17.7	5.6	6.6
      March 31, 2025	154.97	-	7.4	5.1	6.4

      Reference: Share of profit (loss) of entities accounted for using equity method

      For the fiscal year ended March 31, 2026:	¥	91 million
      For the fiscal year ended March 31, 2025:	¥	110 million

   2. Consolidated financial position

      	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
      As of March 31, 2026 March 31, 2025	Millions of yen 203,021 192,248	Millions of yen 117,466 112,054	% 48.4 48.4	Yen 2,482.03 2,159.30

      Reference: Equity

      As of March 31, 2026:	¥	98,189 million
      As of March 31, 2025:	¥	93,061 million

   3. Consolidated cash flows

   	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
   Fiscal year ended March 31, 2026 March 31, 2025	Millions of yen 5,161 18,463	Millions of yen 27,168 1,434	Millions of yen (21,638) (20,473)	Millions of yen 38,166 27,465

2. Cash dividends

   	Annual dividends per share					Total cash dividends (Total)	Payout ratio (Consolidated)	Ratio of dividends to net assets (Consolidated)
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
   	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
   Fiscal year ended March 31, 2025	-	26.00	-	52.00	78.00	3,398	50.3	3.7
   Fiscal year ended March 31, 2026	-	42.00	-	43.00	85.00	3,376	20.6	3.7
   Fiscal year ending March 31, 2027 (Forecast)	-	44.00	-	44.00	88.00		41.0

3. Consolidated financial result forecasts for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027)

(Percentages indicate year-on-year changes.)

1. Significant changes in the scope of consolidation during the period: Yes

   Newly included:	１	companies( Tsubame・Yahiko Water Service CO., LTD.	)
   Excluded:	１	companies( TSK Engineering China Co., Ltd.	)

2. Changes in accounting policies, changes in accounting estimates, and restatement

   1. Changes in accounting policies due to revisions to accounting standards and other regulations: None

   2. Changes in accounting policies due to other reasons: None

   3. Changes in accounting estimates: None

   4. Restatement: None

3. Number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares)

      As of March 31, 2026	40,125,800 shares
      As of March 31, 2025	44,125,800 shares

   2. Number of treasury shares at the end of the period

      As of March 31, 2026	565,610 shares
      As of March 31, 2025	1,027,874 shares

   3. Average number of shares outstanding during the period

1. Non-consolidated operating results (Percentages indicate year-on-year changes.)

   	Net sales		Operating profit		Ordinary profit		Profit
   Fiscal year ended March 31, 2026 March 31, 2025	Millions of yen 6,526 7,274	% (10.3) (9.5)	Millions of yen 1,103 2,051	% (46.2) (21.7)	Millions of yen 1,657 2,785	% (40.5) (17.8)	Millions of yen 12,315 3,758	% 227.7 154.2

   	Basic earnings per share	Diluted earnings per share
   Fiscal year ended	Yen	Yen
   March 31, 2026	300.55	-
   March 31, 2025	87.33	-

2. Non-consolidated financial position

Reference: Equity

* Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.

Consolidated Financial Statements and Primary Notes

Consolidated Balance Sheet

(Millions of yen)

As of March 31, 2025

As of March 31, 2026

Assets

Provision for warranties for completed construction

898

924

Valuation difference on available-for-sale securities

9,732

12,325

(Millions of yen)

As of March 31, 2025 As of March 31, 2026

Liabilities

Current liabilities

Notes and accounts payable - trade 16,954 18,212

Electronically recorded obligations - operating 3,932 2,193

Short-term borrowings 50 50

Current portion of long-term borrowings 3,702 1,736

Lease liabilities 271 292

Income taxes payable 1,809 8,118

Contract liabilities 8,705 9,764

Provision for bonuses 3,618 3,713

Provision for loss on construction contracts 841 1,165

Provision for loss on disaster - 1

Provision for share-based payments 82 -

Other 7,259 9,822

Total current liabilities 48,126 55,998

Non-current liabilities

Long-term borrowings 11,912 9,952

Bonds payable 5,000 5,000

Deferred tax liabilities 6,866 7,035

Lease liabilities 713 632

Provision for share-based payments - 103

Provision for retirement benefits for directors (and other officers)

218 238

Asset retirement obligations 1,076 1,083

Retirement benefit liability 4,226 3,778

Total non-current liabilities 32,066 29,557

Other 2,051 1,732

Net assets

Total liabilities 80,193 85,555

Share capital 6,646 6,646

Shareholders' equity

Retained earnings 70,445 72,196

Capital surplus 6,055 6,054

Total shareholders' equity 82,101 83,348

Treasury shares (1,047) (1,549)

Accumulated other comprehensive income

Foreign currency translation adjustment 500 780

Deferred gains or losses on hedges (1) 24

Total accumulated other comprehensive income 10,960 14,841

Remeasurements of defined benefit plans 728 1,710

Total net assets 112,054 117,466

Non-controlling interests 18,993 19,276

Total liabilities and net assets 192,248 203,021

Consolidated Statements of Income and Comprehensive Income

Consolidated Statement of Income

(Millions of yen)

Share of profit of entities accounted for using equity method

110

91

For the fiscal year ended March 31, 2025

For the fiscal year ended March 31, 2026

Cost of sales

110,384

117,832

Selling, general and administrative expenses

Directors' compensations, salaries, allowances, bonuses and welfare expenses

7,780

8,231

Provision for bonuses

697

786

Retirement benefit expenses

249

217

Depreciation

1,300

1,372

Total selling, general and administrative expenses

19,935

21,279

Non-operating income

Dividend income

842

773

Gain on investments in silent partnerships

52

371

Total non-operating income

1,638

1,666

Interest expenses

157

111

Donations

9

11

Commission expenses

-

260

Total non-operating expenses

299

521

Ordinary profit 10,254 10,987

Other 76 64

Foreign exchange losses 17 47

Guarantee commission 38 25

Non-operating expenses

Other 410 146

Interest income 222 284

Operating profit 8,915 9,842

Other 7,073 7,963

Travel and transportation expenses 528 553

Share-based payment expenses 32 107

Provision of allowance for doubtful accounts 16 (342)

Estimate design cost 2,255 2,389

Gross profit 28,851 31,122

Net sales 139,235 148,954

(Millions of yen)

Consolidated Statement of Comprehensive Income

(Millions of yen)

Comprehensive income attributable to owners of parent

7,526

20,791

Share of other comprehensive income of entities accounted for using equity method

0

(0)

For the fiscal year ended March 31, 2025

For the fiscal year ended March 31, 2026

Other comprehensive income

Deferred gains or losses on hedges

21

20

Remeasurements of defined benefit plans, net of tax

780

1,269

Total other comprehensive income

1,205

4,262

Comprehensive income attributable to

Comprehensive income 9,691 22,873

Foreign currency translation adjustment 394 383

Valuation difference on available-for-sale securities 8 2,588

Profit 8,486 18,611

Comprehensive income attributable to non-controlling

interests

2,165 2,082

Consolidated Statement of Changes in Equity

For the fiscal year ended March 31, 2025

(Millions of yen)

For the fiscal year ended March 31, 2026

(Millions of yen)

Increase (decrease) in allowance for doubtful accounts (226) (345)

Increase (decrease) in provision for warranties for completed construction

(74)

22

Increase (decrease) in provision for loss on

construction contracts

(83) 323

Share of loss (profit) of entities accounted for using equity method

(110) (91)

Loss (gain) on sale and retirement of property, plant and equipment

96

(11,843)

Loss (gain) on sale of investment securities (2,005) (3,314)

Decrease (increase) in accounts receivable - trade, and

Increase (decrease) in contract liabilities 1,928 993

contract assets

16,888 (10,400)

Increase (decrease) in trade payables (7,119) (473)

Decrease (increase) in inventories 1,346 355

Other, net (3,947) 2,752

Proceeds from sale and redemption of short-term and long-term investment securities

3,075

5,096

Interest and dividends received

1,057

1,089

Income taxes paid

(4,595)

(2,727)

Cash flows from investing activities

Purchase of property, plant and equipment

(753)

(1,046)

Purchase of intangible assets

(280)

(348)

Purchase of shares of subsidiaries

(36)

(650)

Proceeds from collection of loans receivable

12

13

Other proceeds

54

633

Net cash provided by (used in) investing activities 1,434 27,168

Other payments (103) (134)

Loan advances (2) (2)

Decrease (increase) in time deposits (538) 1,448

Net cash provided by (used in) operating activities 18,463 5,161

Proceeds from sale of property, plant and equipment 8 22,158

Interest paid (150) (108)

Subtotal 22,151 6,908

(Millions of yen)

Effect of exchange rate change on cash and cash equivalents

346

348

Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation

-

(385)

For the fiscal year ended March 31, 2025

For the fiscal year ended March 31, 2026

Net increase (decrease) in short-term borrowings

(14,000)

-

Repayments of long-term borrowings

(4,137)

(3,925)

Proceeds from sale of treasury shares

593

1,090

Dividends paid

(2,052)

(3,937)

Net cash provided by (used in) financing activities

(20,473)

(21,638)

Net increase (decrease) in cash and cash equivalents

(227)

11,039

Increase in cash and cash equivalents resulting from inclusion of subsidiaries in consolidation

91

46

Cash and cash equivalents at beginning of period 27,601 27,465

Dividends paid to non-controlling interests (1,396) (1,778)

Purchase of treasury shares (308) (12,797)

Repayments of lease liabilities (236) (289)

Proceeds from long-term borrowings 1,065 -

Cash flows from financing activities

Cash and cash equivalents at end of period 27,465 38,166