Taihei Dengyo Co., Ltd. (TSE: 1968) reported consolidated results for the fiscal year ended March 31, 2026 (FY3/2026) under Japanese GAAP. Revenue rose 12.7% to ¥141,657 million, operating profit rose 13.8% to ¥14,839 million, ordinary profit rose 17.7% to ¥16,246 million, and net profit attributable to owners of the parent rose 22.0% to ¥11,902 million. EPS was ¥188.77 (on a post-split basis), ROE was 9.9% and the operating margin 10.5%. Comprehensive income rose 46.6% to ¥15,724 million.
Plant-engineering demand stays firm
Taihei Dengyo builds and maintains power plants — both thermal and nuclear — and provides mechanical and electrical plant-engineering services. Robust order volumes carried through the year, lifting revenue and profit to fresh highs. The contractor's core strength in power-plant construction and ongoing maintenance work kept utilization and margins healthy as Japan's energy infrastructure continued to attract investment.
Stock split and a strong balance sheet
The company executed a 1-for-3 common-stock split effective October 1, 2025; per-share figures are stated on the post-split basis. Total assets were ¥175,365 million, net assets ¥127,939 million and the equity ratio a robust 72.1% (BPS ¥2,003.32). Period-end cash and equivalents were ¥35,169 million, underpinning a balance sheet with ample headroom for working capital and shareholder returns.
Dividend
The FY3/2026 annual dividend was ¥70.00 per share (post-split), representing a consolidated payout ratio of 37.1%. The payout reflects the company's continued commitment to returning capital to shareholders while funding growth in its plant-engineering order book.
FY27 guidance: double-digit revenue growth
For FY3/2027, management guides revenue of ¥160,000 million (+12.9%), operating profit of ¥17,400 million (+17.3%), ordinary profit of ¥18,400 million (+13.3%) and net profit attributable to owners of ¥12,000 million (+0.8%), with EPS of ¥190.16. The outlook points to a further year of double-digit top-line expansion as the contractor works through a firm pipeline of power-plant and industrial-plant projects.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 141,657 | 125,670 | +12.7% |
| Operating profit (¥ million) | 14,839 | 13,037 | +13.8% |
| Ordinary profit (¥ million) | 16,246 | 13,808 | +17.7% |
| Net profit attrib. to owners (¥ million) | 11,902 | 9,753 | +22.0% |
| EPS (¥, post-split) | 188.77 | 160.94 | +17.3% |
| Equity ratio | 72.1% | 73.3% | -1.2pp |
| Annual dividend (¥, post-split) | 70.00 | — | — |
| FY27 revenue guidance (¥ million) | 160,000 | — | +12.9% |
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.