MEISEI INDUSTRIAL (1976) Q1 2026 earnings summary

Executive summary

• Net sales for the first quarter fell 6.6% year-over-year to ¥13,840 million, mainly due to a decline in large-scale construction projects despite steady progress in the boiler business.

• Operating profit dropped 28.0% to ¥1,099 million, and profit attributable to owners of parent decreased 36.9% to ¥802 million year-over-year.

• Orders received declined 6.8% to ¥16,705 million, primarily from a decrease in overseas orders.

Financial highlights

• Ordinary profit was ¥1,287 million, down 29.3% year-over-year.

• Comprehensive income dropped sharply to ¥624 million, a 75.9% decrease year-over-year.

• Net income per share was ¥16.85, compared to ¥26.05 in the prior year.

• Total assets decreased to ¥84,535 million from ¥88,583 million at the previous fiscal year-end.

• Net assets fell to ¥67,918 million, with a capital adequacy ratio of 79.6%.

Outlook and guidance

• Full-year forecast maintained: net sales of ¥60,000 million (+9.5% YoY), operating profit of ¥7,750 million (+27.0%), and profit attributable to owners of parent of ¥6,200 million (+26.7%).

• Interim dividend forecast at ¥20.00 per share, full-year at ¥60.00 per share.

• No revisions to previously announced earnings or dividend forecasts.