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.
Consolidated Financial Results
for the Three Months Ended June 30, 2025 [Japanese GAAP]
August 8, 2025
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 to commence dividend payments: -
Preparation of supplementary material on financial results: None Holding of financial results briefing: None
(Yen amounts are rounded down to millions, unless otherwise noted.)
Consolidated Financial Results for the Three Months Ended June 30, 2025 (April 1, 2025 to June 30, 2025)
Consolidated Operating Results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Three months ended
June 30, 2025
June 30, 2024
Millions of yen
24,815
24,103
%
3.0
37.5
Millions of yen
167
(267)
%
-
-
Millions of yen
685
365
%
87.7
252.7
Millions of yen
2,463
215
%
-
139.8
(Note) Comprehensive income:
Three months ended June 30, 2025:
¥
2,271 million
[
167.4%]
Three months ended June 30, 2024:
¥
849 million
[
(65.6) %]
Basic earnings per share
Diluted earnings per share
Three months ended
Yen
Yen
June 30, 2025
57.32
-
June 30, 2024
5.04
-
Consolidated Financial Position
Total assets
Net assets
Capital adequacy ratio
As of
June 30, 2025
March 31, 2025
Millions of yen
183,631
192,248
Millions of yen
109,735
112,054
%
50.4
48.4
(Reference) Equity: As of June 30, 2025:
¥
92,633 million
As of March 31, 2025:
¥
93,061 million
Dividends
Annual dividends
1st quarter-end
2nd quarter-end
3rd quarter-end
Year-end
Total
Fiscal year ended March 31, 2025
Fiscal year ending March 31, 2026
Yen
-
-
Yen
26.00
Yen
-
Yen
52.00
Yen
78.00
Fiscal year ending March 31, 2026
(Forecast)
42.00
-
40.00
82.00
(Note) Revision to the forecast for dividends announced most recently: None
Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026(April 1, 2025 to March 31, 2026)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Full year | Millions of yen 144,000 | % 3.4 | Millions of yen 9,500 | % 6.6 | Millions of yen 10,500 | % 2.4 | Millions of yen 15,000 | % 124.9 | Yen 349.66 |
(Note) Revision to the financial results forecast announced most recently: Yes
* Notes:
Significant changes in the scope of consolidation during the period: Yes
Newly included:
１
(Company name: Tsubame・Yahiko Water Service CO., LTD.
)
Excluded:
１
(Company name: TSK Engineering China Co., Ltd.
)
Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes
Changes in accounting policies, changes in accounting estimates, and restatement
Changes in accounting policies due to revisions to accounting standards and other regulations: None
Changes in accounting policies due to other reasons: None
Changes in accounting estimates: None
Restatement: None
Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares): June 30, 2025: 44,125,800 shares
March 31, 2025: 44,125,800 shares
Number of treasury shares at the end of the period:
June 30, 2025: 1,226,584 shares
March 31, 2025: 1,027,874 shares
Average number of shares outstanding during the period:
Three months ended June 30, 2025: 42,975,823 shares
Three months ended June 30, 2024: 42,835,552 shares
* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None
Quarterly Consolidated Financial Statements and Primary Notes Quarterly Consolidated Balance Sheet
(Millions of yen)
As of March 31, 2025
As of June 30, 2025
Assets
Current assets
Cash and deposits 30,561 44,358
Notes and accounts receivable - trade, and contract assets | 70,170 | 44,833 |
Electronically recorded monetary claims -operating | 2,278 | 3,435 |
Merchandise and finished goods | 181 | 160 |
Work in process | 3,236 | 4,455 |
Raw materials and supplies | 1,057 | 988 |
Other | 4,518 | 7,037 |
Allowance for doubtful accounts | (287) | (97) |
Total current assets | 111,716 | 105,172 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 22,203 | 21,946 |
Machinery, equipment and vehicles, net | 12,744 | 12,462 |
Land | 7,856 | 7,855 |
Leased assets, net | 1,122 | 1,114 |
Construction in progress | 49 | 186 |
Other, net | 549 | 522 |
Total property, plant and equipment | 44,526 | 44,087 |
Intangible assets | ||
Goodwill | 2,496 | 2,442 |
Customer-related intangible assets | 2,883 | 2,788 |
Other | 1,029 | 961 |
Total intangible assets | 6,409 | 6,192 |
Investments and other assets | ||
Investment securities | 24,363 | 22,988 |
Retirement benefit asset | 114 | 114 |
Other | 5,408 | 5,298 |
Allowance for doubtful accounts | (290) | (223) |
Total investments and other assets | 29,596 | 28,177 |
Total non-current assets | 80,531 | 78,458 |
Total assets | 192,248 | 183,631 |
(Millions of yen)
As of March 31, 2025
As of June 30, 2025
Liabilities
Current liabilities
Notes and accounts payable - trade | 16,954 | 9,708 |
Electronically recorded obligations - operating | 3,932 | 3,745 |
Short-term borrowings | 50 | 50 |
Current portion of long-term borrowings | 3,702 | 2,086 |
Income taxes payable | 1,809 | 1,460 |
Contract liabilities | 8,705 | 11,417 |
Provision for bonuses | 3,618 | 1,494 |
Provision for warranties for completed construction | 898 | 795 |
Provision for loss on construction contracts | 841 | 830 |
Provision for share-based payments | 82 | 120 |
Other | 7,531 | 11,017 |
Total current liabilities | 48,126 | 42,728 |
Non-current liabilities | ||
Bonds payable | 5,000 | 5,000 |
Long-term borrowings | 11,912 | 11,077 |
Provision for retirement benefits for directors (and other officers) | 218 | 217 |
Provision for share-based payments | - | 17 |
Retirement benefit liability | 4,226 | 4,299 |
Other | 10,708 | 10,555 |
Total non-current liabilities | 32,066 | 31,167 |
Total liabilities | 80,193 | 73,895 |
Net assets | ||
Shareholders' equity | ||
Share capital | 6,646 | 6,646 |
Capital surplus | 6,055 | 6,058 |
Retained earnings | 70,445 | 70,572 |
Treasury shares | (1,047) | (1,505) |
Total shareholders' equity | 82,101 | 81,771 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 9,732 | 9,855 |
Deferred gains or losses on hedges | (1) | 12 |
Foreign currency translation adjustment | 500 | 292 |
Remeasurements of defined benefit plans | 728 | 702 |
Total accumulated other comprehensive income | 10,960 | 10,862 |
Non-controlling interests | 18,993 | 17,101 |
Total net assets | 112,054 | 109,735 |
Total liabilities and net assets | 192,248 | 183,631 |
Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income For the three months ended June 30, 20XX
For the three months ended June 30, 2024
(Millions of yen)
For the three months ended June 30, 2025
Net sales 24,103 24,815
Cost of sales 19,598 19,873
Gross profit 4,505 4,941
Selling, general and administrative expenses
Estimate design cost 597 617
Directors' compensations,salaries,allowances,bonuses and welfare expenses
1,733 1,835
Provision of allowance for doubtful accounts 0 (266)
Provision for bonuses 274 299
Share-based payment expenses 5 29
Retirement benefit expenses 62 63
Other 2,099 2,196
Total selling, general and administrative expenses 4,772 4,774
Operating profit (loss) (267) 167
Non-operating income
Interest income 39 44
Share of profit of entities accounted for using equity method
17
15
Dividend income 319 450
Foreign exchange gains 52 -
Gain on investments in silent partnerships - 167
Other 282 31
Total non-operating income 711 708
Non-operating expenses
Interest expenses 40 30
Commission expenses - 90
Other 38 68
Total non-operating expenses 78 190
Ordinary profit 365 685
Extraordinary income
Gain on sale of non-current assets 0 -
Gain on sale of investment securities 2 3,052
Total extraordinary income 2 3,052 Extraordinary losses
Loss on sale and retirement of non-current assets 0 2
Loss on disaster - 165
Total extraordinary losses 0 167
Profit before income taxes 367 3,569
Income taxes 123 1,147
Profit 243 2,422
Profit (loss) attributable to non-controlling interests 27 (41)
Profit attributable to owners of parent 215 2,463
Quarterly Consolidated Statement of Comprehensive Income For the three months ended June 30, 20XX
For the three months ended June 30, 2024
(Millions of yen)
For the three months ended June 30, 2025
Profit 243 2,422
Other comprehensive income
Valuation difference on available-for-sale securities 450 122
Deferred gains or losses on hedges 29 15
Foreign currency translation adjustment 110 (258)
Remeasurements of defined benefit plans, net of tax 14 (29)
Share of other comprehensive income of entities
0 (0)
accounted for using equity method
Total other comprehensive income 605 (150)
Comprehensive income 849 2,271
Comprehensive income attributable to
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests
800 2,365
48 (94)