Yagami Inc. (NSE: 7488) reported consolidated results for the fiscal year ended April 2026 (FY4/2026) under Japanese GAAP. Revenue rose 5.8% to ¥11,502 million, operating profit increased 14.8% to ¥2,235 million, ordinary profit grew 15.5% to ¥2,298 million, and net profit attributable to owners of the parent advanced 22.1% to a record ¥1,588 million. Basic earnings per share reached ¥302.89 (¥248.17 a year earlier), and the operating margin widened to 19.4% from 17.9%. Return on equity improved to 11.6% from 9.7%.
Margin gains outpace modest top-line growth
Yagami designs, manufactures and distributes educational and scientific equipment — science teaching materials and school facilities, health and physical-education equipment, and environmental measurement and analysis instruments — supplying schools, universities, research institutions and public bodies across Japan from its Nagoya base. Operating profit grew nearly three times faster than revenue, with the operating margin expanding by more than a percentage point on a richer product mix and disciplined cost control. Comprehensive income rose 17.6% to ¥1,614 million.
Debt-light balance sheet supports a generous payout
Total assets stood at ¥18,076 million and net assets at ¥13,923 million, lifting the equity ratio to 77.0% from 73.1%; book value per share rose to ¥2,654.61. Operating cash flow was ¥939 million and the company ended the year with ¥3,959 million of cash and equivalents. On the strength of record earnings, Yagami raised its annual dividend to ¥303.00 per share (¥146 interim + ¥157 year-end) from ¥174.00 — a payout ratio of 100.0%, underscoring a shareholder-return policy that distributes substantially all of net profit.
FY27 guidance broadly flat
For the fiscal year ending April 2027, Yagami guides revenue of ¥11,500 million (flat), operating profit of ¥2,170 million (−2.9%), ordinary profit of ¥2,230 million (−3.0%) and net profit of ¥1,470 million (−7.5%), for EPS of ¥280.26. The planned dividend of ¥280.00 would again equate to a payout near 100% of forecast earnings, keeping the company among the higher-yielding names in its niche even as profit normalizes from the record year.
| Metric | FY4/2026 | FY4/2025 | YoY |
|---|---|---|---|
| Revenue (¥ billion) | 11.50 | 10.88 | +5.8% |
| Operating profit (¥ billion) | 2.24 | 1.95 | +14.8% |
| Ordinary profit (¥ billion) | 2.30 | 1.99 | +15.5% |
| Net profit attrib. to owners (¥ billion) | 1.59 | 1.30 | +22.1% |
| EPS (¥) | 302.89 | 248.17 | +22.1% |
| Operating margin | 19.4% | 17.9% | +1.5pp |
| Equity ratio | 77.0% | 73.1% | +3.9pp |
| Annual dividend (¥) | 303.00 | 174.00 | +74.1% |
| Dividend payout ratio | 100.0% | 70.1% | +29.9pp |
| FY27 net profit guidance (¥ billion) | 1.47 | — | -7.5% |
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.