Kajima Corporation (TSE: 1812), one of Japan's "Big Five" super-general contractors (super-zenecon), reported record results on May 14, 2026 for the fiscal year ended March 2026. Consolidated revenue rose 5.3% to ¥3,067,275 million (¥3.07 trillion), operating profit surged 58.5% to ¥240,780 million, ordinary profit climbed 49.6% to ¥240,420 million, and net profit attributable to owners jumped 40.9% to ¥177,334 million, lifting EPS to ¥379.81 from ¥266.49 and ROE to 13.3%.
Margin recovery drives the profit surge
The sharp profit jump reflects improved construction margins and the recovery of domestic building work, alongside contributions from real-estate development and overseas operations. On a parent-only basis operating profit rose 54.8% to ¥177,641 million. Total comprehensive income gained 81.9% to ¥230,682 million, and operating cash flow rose to ¥114,606 million.
Higher dividend; cautious FY2027 outlook
Total assets stood at ¥3,624,341 million and net assets at ¥1,436,220 million, for an equity ratio of 39.0% and book value per share of ¥3,036.89. Kajima raised its annual dividend to ¥146.00 per share from ¥104.00 and plans to hold it at ¥146 for FY2027. During the year it newly consolidated five companies, including subsidiaries of Kajima USA.
For the year ending March 2027 the company guided revenue of ¥2,900,000 million (−5.5%), operating profit of ¥200,000 million (−16.9%), ordinary profit of ¥206,000 million (−14.3%) and net profit of ¥170,000 million (−4.1%), equivalent to EPS of ¥364.85 — a step back from the record year as it assumes a more normalized margin.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 3,067,275 | 2,911,816 | +5.3% |
| Operating profit (¥ million) | 240,780 | 151,882 | +58.5% |
| Ordinary profit (¥ million) | 240,420 | 160,663 | +49.6% |
| Net profit (¥ million) | 177,334 | 125,817 | +40.9% |
| EPS (¥) | 379.81 | 266.49 | +42.5% |
| ROE | 13.3% | 10.2% | +3.1pp |
| Annual dividend (¥) | 146.00 | 104.00 | +40.4% |
| FY2027 guidance — revenue (¥ million) | 2,900,000 | — | −5.5% |
| FY2027 guidance — net profit (¥ million) | 170,000 | — | −4.1% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.