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Latest financial results

Overview of business results for the current quarter

During the first quarter of the consolidated fiscal year, the global economy remained uncertain due to the prolonged trade friction between the United States and China, as well as heightened geopolitical risks stemming from the situation in the Middle East and Ukraine.
In the current fiscal year, the final year of our medium-term management plan "RISE TO GROWTH 2026," our group is promoting various measures based on our seven key strategies and ESG strategy. During the first quarter of the consolidated fiscal year, in order to enhance our sustainable growth, we have strived to further expand sales and profits by proposing new ways of working and office spaces that implement those ways of working, and by developing sales activities that focus on value enhancement.

(Unit: million yen)

Q1 2025
Consolidated cumulative period		 First quarter of 2026
Consolidated cumulative period		 Increase/decrease amount Rate of change
Sales 42,744 47,224 4,480 10.5％
Gross profit 18,750 20,969 2,218 11.8％
Selling, general and administrative expenses 11,328 12,879 1,550 13.7％
Operating income 7,422 8,089 667 9.0％
Non-operating income 133 213 80 60.5％
Non-operating expenses 236 208 △28 △12.0％
Ordinary profit 7,318 8,094 776 10.6％
Extraordinary income 15 61 45 295.8％
Extraordinary losses  76 92 15 20.7％
Quarterly net income before taxes and other adjustments 7,257 8,063 806 11.1％
Total corporate income taxes, etc.  2,346 2,526 179 7.6％
Quarterly net income 4,910 5,537 626 12.8％
Quarterly net income attributable to owners of parent company 4,916 5,538 621 12.7％

Sales

Revenue increased by 4.48 billion yen (10.5%) compared to the same period last year, reaching 47.224 billion yen, which was in line with our expectations.
  • Workplace Business performed steadily, primarily driven by renovation projects tailored to new, hybrid work styles.
  • Equipment & Public Works-Related Business saw a significant increase in revenue, mainly due to strong performance in equipment sales for research facilities.

Gross profit

Compared to the same period last year, profits increased by 2.218 billion yen (11.8%) to 20.969 billion yen.
  • Workplace Business achieved an increase in profits due to improved profit margins resulting from increased revenue and improved value provided.
  • Equipment & Public Works-Related Business saw a significant increase in profits, primarily due to increased revenue from equipment for research facilities and improved profit margins resulting from enhanced value proposition.

Selling, general and administrative expenses

In addition to increased personnel costs due to business expansion, strategic expenditures aimed at future growth, such as strengthening the IT infrastructure for promoting digital transformation (DX), were executed as planned. As a result, sales increased by 1.55 billion yen (13.7%) compared to the same period of the previous year, reaching 12.879 billion yen.

Operating income

As a result of the above, operating profit increased by 667 million yen (9.0%) compared to the same period of the previous year, reaching 8,089 million yen, which was in line with our expectations.

  • In Workplace Business, selling, general and administrative expenses increased, but this was absorbed by increased revenue and improved profit margins due to enhanced value proposition, resulting in a return to the same level as the previous year.
  • Equipment & Public Works-Related Business saw a significant increase in profits, primarily due to increased revenue from equipment for research facilities and improved profit margins resulting from enhanced value proposition.

Non-operating income

Due to an increase in insurance payouts and other factors, the total amount increased by 80 million yen (60.5%) compared to the same period last year, reaching 213 million yen.

Non-operating expenses

Due to a decrease in payment fees and other factors, the total amount decreased by 28 million yen (12.0%) compared to the same period of the previous year, reaching 208 million yen.

Ordinary profit

As a result of the above, ordinary profit increased by 776 million yen (10.6%) compared to the same period of the previous year, reaching 8,094 million yen.

Extraordinary income

Due to the recording of the reversal of the provision for losses related to voluntary product recalls, etc., the amount increased by 45 million yen (295.8%) compared to the same period of the previous year, reaching 61 million yen.

Extraordinary losses 

Due to factors such as the recording of losses from the termination of the retirement benefit plan, the total amount increased by 15 million yen (20.7%) compared to the same period of the previous year, reaching 92 million yen.
Quarterly net income attributable to owners of parent company

As a result of the above, net income attributable to parent company shareholders for the quarter increased by 621 million yen (12.7%) compared to the same period of the previous year, reaching 5,538 million yen.

The performance by segment is as follows:

(Unit: million yen)

Segment name Q1 2025
Consolidated cumulative period		 First quarter of 2026
Consolidated cumulative period		 Increase/decrease amount Rate of change
Workplace Business Sales 34,603 36,457 1,853 5.4％
Operating income 7,015 7,061 45 0.6％
Equipment & Public Works-Related Business
​		 Sales 7,763 10,390 2,627 33.8％
Operating income 373 1,003 629 168.5％
Reportable segment total Sales 42,366 46,847 4,481 10.6％
Operating income 7,389 8,064 675 9.1％
Others Sales 377 377 △0 △0.2％
Operating income 33 25 △7 △22.7％
Total Sales 42,744 47,224 4,480 10.5％
Operating income 7,422 8,089 667 9.0％

Overview of financial position for this quarter

(Unit: million yen)

2025
End of December		 2026
End of March		 Increase/decrease amount Rate of change
Assets section 130,724 137,216 6,491 5.0％
debt section 73,910 78,054 4,143 5.6％
Of Net Assets 56,813 59,161 2,348 4.1％

Assets section

Total assets increased by 6,491 million yen compared to the end of the previous consolidated fiscal year, reaching 137,216 million yen, due to increases in notes receivable, accounts receivable and contract assets, and electronically recorded claims.

debt section

Total liabilities increased by 4,143 million yen compared to the end of the previous consolidated fiscal year, reaching 78,054 million yen, mainly due to an increase in short-term borrowings.

Of Net Assets

Net assets increased by 2,348 million yen compared to the end of the previous consolidated fiscal year, reaching 59,161 million yen, mainly due to an increase in retained earnings resulting from increased profits. The equity ratio decreased by 0.3 percentage points from the end of the previous consolidated fiscal year to 43.0%.

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