Taisei (1801) Q2 2025 earnings summary

Executive summary

• Net sales for H1 FY2024 rose to ¥952.3 billion, up 29.0% year-over-year, with operating income up 210.2% to ¥40.5 billion and net income attributable to owners of parent up 201.5% to ¥44.8 billion.

• Orders received increased significantly, especially in building construction and civil engineering, supporting strong revenue growth.

• Major new construction orders included large-scale infrastructure and redevelopment projects in Tokyo, Osaka, and other regions.

• Full-year net income forecast revised upward by ¥18.0 billion due to improved non-operating items, including lump-sum amortization of negative goodwill and progress in reducing cross-shareholdings.

Financial highlights

• H1 FY2024 net sales: ¥952.2–952.3 billion, up ¥214.1 billion or 29.0% year-over-year.

• Operating income: ¥40.5 billion (4.3% margin), up from ¥13.0 billion (1.8%) year-over-year.

• Net income attributable to owners of parent: ¥44.8 billion, up from ¥14.8 billion year-over-year.

• Gross profit margin improved to 9.5% from 7.9% year-over-year.

• Net income per share: ¥243.99, up from ¥79.21 year-over-year.

Outlook and guidance

• Full-year net sales forecast at ¥1,990.0 billion; operating income forecast at ¥87.0 billion.

• Net income forecast raised to ¥83.0 billion, reflecting improved non-operating results.

• Dividend forecast maintained at ¥130 per share for the full year.

• New orders forecast at ¥1,910.0 billion, slightly down from previous year.