Latest Business Results
(Fiscal year ended March 31, 2025 (Consolidated))

Summary of Results of Operations and Financial Highlights

The Japanese economy showed signs of a gradual recovery during this consolidated fiscal year, supported by improvements in corporate earnings as well as employment and income conditions. Personal consumption also exhibited signs of recovery.
Nevertheless, the economic outlook continues to be uncertain. In addition to the impact of rising prices on personal consumption due to soaring raw material costs, there are concerns about downside risks to the economy stemming from factors such as U.S. trade policy and the stagnation of the Chinese economy.
In this economic environment, our group formulated a new medium-term business plan, “Resilience Rasa 2024: Re-start to Leap Forward,” covering the three-year period from the fiscal year ended March 31, 2023, through the fiscal year ending March 31, 2025. We positioned the establishment of group governance as our top priority. We have aimed to make a significant leap forward by strengthening cooperation within our group. To achieve this, we have been continuously working to enhance our corporate value.
Net sales for this consolidated fiscal year were 26,568 million yen, a decrease of 1,347 million yen (down 4.8%) year on year. This decrease was primarily due to lower sales in the resources and metallic materials, as well as industrial plants and equipment segments. Operating income was 2,532 million yen. That was an increase of 34 million yen (up 1.4%) year on year. Moreover, ordinary income was 2,842 million yen. That was an increase of 25 million yen (up 0.9%) year on year.
Net income attributable to owners of parent was 2,079 million yen. That was an increase of 81 million yen (up 4.1%) year on year.

(Millions of yen)

	FY2025
	Amount	Pct. of sales
Net sales	26,568	100.0
Operating income	2,532	9.5
Ordinary income	2,842	10.7
Net income	2,079	7.8

FY2025 Cumulative Quarterly Sales and Operating Income

Outlook for the fiscal year ending in March 2026

In terms of our forecast, the outlook for the economy is expected to remain unclear due to instability in the international environment, against the backdrop of concerns over U.S. trade policy and conflicts, fluctuations in resource and raw material prices, and exchange rate volatility.
Under these circumstances, in the resources and metallic materials business, demand for zircon is expected to recover in line with the recovery of the semiconductor market. In the industrial machinery and construction machinery business, the outlook is solid despite concerns about rising purchase prices. In the environmental management facilities and plant and equipment construction business, the performance is expected to recover due to the acquisition of large-scale projects. In the chemical products business, demand for our products is increasingly uncertain due to the unstable global situation.
In light of the above, our consolidated earnings forecast for the next fiscal year (the fiscal year ending March 31, 2026) is as follows: net sales of 28.0 billion yen, operating income of 2.5 billion yen, ordinary income of 2.7 billion yen, and net income attributable to owners of parent of 2.0 billion yen.

	FY2026 Second Quarter (Forecast)	FY2026 (Forecast)
Net sales	12,000	28,000
Operating income	730	2,500
Ordinary income	810	2,700
Net income	570	2,000