Link: https://links.sgx.com/1.0.0/corporate-announcements/T557DNG2JNEL9LTY/6b22cdba7f6ff9950fa25b1452d45a8647e4c2b1526d414e3d4eacd10379e5bb

Summary:

• Net sales for the six months ended September 30, 2025 rose 11.5% year-on-year to ¥424.5 billion, driven by robust growth across Building Construction and Civil Engineering segments.

• Profit attributable to owners of parent jumped 203% to ¥24.6 billion and comprehensive income was ¥35.5 billion (up from ¥901 million).

• Operating profit rose 65.2% to ¥23.7 billion; business profit (core operations) up 66.3%.

• Earnings per share at ¥93.39, up from ¥31.09 a year ago.

• The group completed acquisition of Sumitomo Mitsui Construction, contributing to a 25.8% increase in total assets (to ¥1.83 trillion) and a 6.4% increase in total equity.

• Cash and cash equivalents rose to ¥176.9 billion with net operating cash flow doubling to ¥66.8 billion.

• Interim dividend set at ¥30/share for common shares and significant increase to ¥65/share for Series 1 Bond-Type Class Shares.

• Segment review: Building Construction sales up 18%, Civil Engineering up 18%, Road Civil Engineering up 2%, Infrastructure Management up 36%, Machinery sales down 13%.

• Backlog and orders in key business lines increased, especially in Private Works and Civil Engineering, though margin discipline remains a focus.

• Full-year FY2026 forecast raised: Net sales expected at ¥1.13 trillion (+34%), profit attributable to owners at ¥55.4 billion (+71%), and full-year DPS forecast at ¥85.00.

• Board and management highlight continued focus on synergies, new project pipeline, prudent leverage, and creating an “integrated infrastructure services” group.