FY Mar 2025 Results

Performance exceeded the initial forecast and achieved the highest profit in the past due to the demonstration of our abilities in all fields

  • Fiscal year ended March 31, 2024 was marked by a significant increase in sales and profit due to changes in the business environment. In fiscal year ended March 31, 2025 the business environment continued to be favorable and each business performed well, especially repair sales, resulting in sales exceeding the initial forecast.
  • The OP margin improved 1.3% to 17.5% YoY, thanks to productivity gain resulting from an increase in the number of maintenance contracts, a lower labor cost ratio due to the effect of hiring new graduates, and thorough control of SG&A expenses.
  • Net income attributable to owners of parent exceeded the original forecast of 5.1 billion yen to reach a record high, despite the impairment loss.

(millions of yen, yen, %)

Fisical Year ended

Fiscal Year ended

YoY change

March 2024

March 2025

Amount

% of sales

Amount

% of sales

Amount

%

Net sales

42,216

100.0

49,375

100.0

7,158

17.0

Operating profit

6,821

16.2

8,624

17.5

1,803

26.4

Ordinary profit

6,851

16.2

8,621

17.5

1,769

25.8

Profit attributable to owners

of parent

4,515

10.7

5,530

11.2

1,014

22.5

(Depreciation)

1,403

3.3

1,562

3.2

159

11.3

(Amortization)

269

0.6

276

0.6

6

2.3

OP before amortization

7,090

16.8

8,900

18.0

1,809

25.5

EPS

50.71

--

62.10

--

11.39

22.5

Both Maintenance & Repair and Modernization performed as expected, especially Repair sales, and sales exceeded initial forecast

  • Maintenance sales continue to grow steadily in line with the increase in the number of maintenance contracts.
  • Sales of repair exceeded expectations, due in part to aggressive sales activities.
  • Demand for modernization remained strong. Both unit volumes and average unit prices were higher than in the previous year, contributing to revenue growth of over 20%.

(millions of yen, yen, %)

Fiscal Year ended

Fiscal Year ended

YoY change

March 2024

March 2025

Amount

% of sales

Amount

% of sales

Amount

%

Maintenance & Repair

26,531

62.8

30,538

61.8

4,006

15.1

Modernization

14,255

33.8

17,325

35.1

3,070

21.5

Other

1,429

3.4

1,511

3.1

81

5.7

Total

42,216

100.0

49,375

100.0

7,158

17.0

Steady expansion of contracts and modernization shipments increased in line with our expectations

  • The number of domestic maintenance contracts was 113,520. Net organic growth reached a record high of approximately 13,000※units driven by nationwide expansion and sales force reinforcement.
  • Demand for modernization remained strong, and shipments increased as expected to 2,230 units (up 300 units from last year) due to the strengthening of the sales structure and the contribution of JIK.
  • Following Saga and Yamaguchi, the Company opened an office in Nagasaki in April, bringing the total number of offices to 149 as of May 1. In line with our intention to strengthen the workforce the number of employees increased by 160 from the previous fiscal year including 112 technical personnel and 24 sales personnel.

※Adjusted for approximately 230 units of  Showa Yusoki Tohoku Co., Ltd., which was acquired on October 1, 2024.

(units,person)

FY Ended

March 2021

FY Ended

March 2022

FY Ended

March 2023

FY Ended

March 2024

FY Ended

March 2025

Actual

Actual

Actual

Actual

Actual

(Change YtD)

Maintenance contracts

67,500

79,000

88,630

100,230

113,520

+ 13,290

Modernization (cumlative)

920

1,150

1,530

1,930

2,230

+ 300

Parking equipments

--

18,830

22,050

24,660

26,740

+ 2,080

No. of offices

101

124

132

138

148

+ 10

No. of Employees

Technical personnel

Sales personnel

1,398

881

156

1,618

1,003

195

1,766

1,096

218

1,868

1,159

248

2,028

1,271

272

+160

+112

+24