Aisan Technology Co., Ltd. (TSE: 4667) reported consolidated full-year results for the fiscal year ended March 31, 2026 (FY3/2026) under Japanese GAAP. Revenue rose 22.1% year-on-year to ¥7,593 million from ¥6,220 million, while operating profit jumped 69.2% to ¥760 million from ¥449 million. Ordinary profit advanced 71.0% to ¥761 million from ¥445 million, and net profit attributable to owners of the parent surged 82.4% to ¥522 million from ¥286 million. Basic EPS came in at ¥98.95 versus ¥53.07 a year earlier.
Margins expand sharply on operating leverage
The standout feature of the result was the leap in profitability. The operating margin widened to 10.0% from 7.2% as the 22% revenue gain flowed through faster than costs, and profit growth at the operating, ordinary and net lines all comfortably outpaced top-line growth. Return on equity recovered to 8.2% and the ordinary-profit-to-total-assets ratio reached 7.9%, both rebounding strongly from the prior year's softer levels. The geospatial-information and surveying-software specialist, which develops survey, mapping and high-precision 3D point-cloud and autonomous-driving map technologies, benefited from firm demand across its core measurement and digital-map businesses.
Balance sheet strengthens
Total assets grew to ¥10,555 million from ¥8,671 million, while net assets edged up to ¥6,673 million from ¥6,349 million. The equity ratio stood at 61.7%, down from 71.8% as the asset base expanded faster than equity, but the company remains conservatively financed. Net assets per share rose to ¥1,233.80 from ¥1,181.38, reflecting steady book-value accumulation alongside the higher earnings.
Cash flow and shareholder returns
Operating cash flow came in at ¥865 million, up from ¥933 million-equivalent levels and comfortably covering the year's modest investment. Investing activities used ¥174 million and financing activities used ¥427 million, leaving period-end cash and cash equivalents at ¥5,822 million from ¥4,176 million. On the back of the sharply higher earnings, Aisan raised its annual dividend to ¥37.00 per share from ¥25.00, taking the consolidated payout ratio to 37.3%. The dividend is paid as a single year-end distribution.
FY27 guidance: continued growth
For FY3/2027, management guides to revenue of ¥8,000 million (+5.4%), operating profit of ¥850 million (+11.8%), ordinary profit of ¥830 million (+9.1%), and net profit attributable to owners of ¥547 million (+4.8%), implying basic EPS of ¥103.68. The company plans to maintain the dividend at ¥37.00 per share, which would lower the payout ratio to a guided 35.6% as earnings grow. Aisan noted that it manages its business on an annual basis and therefore omits an interim guidance figure.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 7,593 | 6,220 | +22.1% |
| Operating profit (¥ million) | 760 | 449 | +69.2% |
| Ordinary profit (¥ million) | 761 | 445 | +71.0% |
| Net profit attrib. to owners (¥ million) | 522 | 286 | +82.4% |
| Basic EPS (¥) | 98.95 | 53.07 | +86.4% |
| Operating margin | 10.0% | 7.2% | +2.8pp |
| ROE | 8.2% | 4.6% | +3.6pp |
| Total assets (¥ million) | 10,555 | 8,671 | +21.7% |
| Net assets per share (¥) | 1,233.80 | 1,181.38 | +4.4% |
| Annual dividend (¥) | 37.00 | 25.00 | +48.0% |
| FY27 revenue guidance (¥ million) | 8,000 | — | +5.4% |
| FY27 operating profit guidance (¥ million) | 850 | — | +11.8% |
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.