Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

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Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

<ul><li> In FY03/25, orders stood at JPY244.2bn (-47.2% YoY), including those received by equity-method affiliates.</li><li>Revenue from completed construction contracts was JPY278.1bn (+6.6% YoY), operating profit JPY2.6bn (-61.4% YoY), recurring profit JPY6.5bn (-7.7% YoY), and net income attributable to owners of the parent JPY2.0bn (-79.4% YoY). Major contracts won during the year included a domestic plant for lithium-ion battery electrolyte production, several geothermal power plants in Indonesia, and an LNG-related facility in India. Despite higher revenue from completed construction contracts, operating profit declined YoY due to a drop in GPM caused by project delays. The company booked JPY4.1bn in equity in earnings of affiliates, narrowing the YoY decline in recurring profit relative to operating profit. Extraordinary losses included JPY1.4bn in impairment losses on fixed assets and roughly JPY3.0bn in tax-related expenses at subsidiaries.</li><li>As a result, net income attributable to owners of the parent dropped 79.4% YoY.</li></ul>

 In FY03/25, orders stood at JPY244.2bn (-47.2% YoY), including those received by equity-method affiliates.Revenue from completed construction contracts was JPY278.1bn (+6.6% YoY), operating profit JPY2.6bn (-61.4% YoY), recurring profit JPY6.5bn (-7.7% YoY), and net income attributable to owners of the parent JPY2.0bn (-79.4% YoY). Major contracts won during the year included a domestic plant for lithium-ion battery electrolyte production, several geothermal power plants in Indonesia, and an LNG-related facility in India. Despite higher revenue from completed construction contracts, operating profit declined YoY due to a drop in GPM caused by project delays. The company booked JPY4.1bn in equity in earnings of affiliates, narrowing the YoY decline in recurring profit relative to operating profit. Extraordinary losses included JPY1.4bn in impairment losses on fixed assets and roughly JPY3.0bn in tax-related expenses at subsidiaries.As a result, net income attributable to owners of the parent dropped 79.4% YoY.

Toyo Engineering (6330 JP): Coverage Initiation