Disasters and events drive demand
Nagawa Co., Ltd. (TSE: 9663) reported non-consolidated results for the first half of FY3/2027, April 1 to September 30, 2026, on October 26, 2026 under Japanese GAAP. Net sales rose 6.3% to ¥17,445 million, operating profit 10.5% to ¥2,022 million and ordinary profit 11.3% to ¥2,483 million. Net profit rose 37.5% to ¥1,626 million, or ¥104.93 per share. The company said it invested actively in new display sites and in expanding its product fleet to meet demand from disaster recovery and reconstruction and from capital spending.
Unit houses lead
The unit-house segment grew sales 5.5% to ¥14,481 million and segment profit 13.2% to ¥1,759 million. The company supported recovery after the 2026 Kumamoto earthquake and typhoon and heavy-rain damage; more permanent display sites and display units lifted orders nationwide, and a larger rental fleet captured private-sector demand and event demand such as the Asian Games. Modular and system buildings grew sales 14.1% to ¥2,558 million and profit 1.9% to ¥232 million, as display sites helped win private capital-spending projects amid a nationwide shortage of craftsmen and higher material costs, and price pass-through improved. Construction machinery rental, based in Hokkaido, saw sales fall 8.0% to ¥405 million and profit 27.1% to ¥49 million: building work in Sapporo and the Hokkaido Shinkansen extension were solid, but civil-engineering orders in southern Hokkaido were weak as public works centred on bridge and tunnel repairs.
Balance sheet, outlook and dividend
Total assets fell 1.7% to ¥77,964 million and net assets 0.8% to ¥68,703 million, leaving the equity ratio at 88.1%. The company kept its FY3/2027 forecast: net sales of ¥38,000 million (+7.4%), operating profit of ¥4,500 million (+2.7%), ordinary profit of ¥5,100 million and net profit of ¥3,300 million (−25.6%). It raised its year-end dividend forecast to ¥80 from the ¥60 announced on May 15, against ¥100 paid for FY3/2026.
| Metric | H1 FY3/2027 | H1 FY3/2026 | Change |
|---|---|---|---|
| Net sales (¥ million) | 17,445 | 16,408 | +6.3% |
| Operating profit (¥ million) | 2,022 | 1,830 | +10.5% |
| Ordinary profit (¥ million) | 2,483 | 2,231 | +11.3% |
| Net profit (¥ million) | 1,626 | 1,182 | +37.5% |
| EPS (¥) | 104.93 | 75.70 | +38.6% |
| Unit houses — revenue (¥ million) | 14,481 | 13,725 | +5.5% |
| Unit houses — segment profit (¥ million) | 1,759 | 1,553 | +13.2% |
| Modular & system buildings — revenue (¥ million) | 2,558 | 2,242 | +14.1% |
| Modular & system buildings — segment profit (¥ million) | 232 | 227 | +1.9% |
| Construction machinery rental — revenue (¥ million) | 405 | 440 | −8.0% |
| Construction machinery rental — segment profit (¥ million) | 49 | 67 | −27.1% |
| Total assets (¥ million) | 77,964 | 79,330 | −1.7% |
| Net assets (¥ million) | 68,703 | 69,245 | −0.8% |
| Equity ratio | 88.1% | 87.3% | +0.8 pt |
| FY3/2027 guidance — revenue (¥ million) | 38,000 | — | +7.4% |
| FY3/2027 guidance — operating profit (¥ million) | 4,500 | — | +2.7% |
| FY3/2027 guidance — ordinary profit (¥ million) | 5,100 | — | +1.9% |
| FY3/2027 guidance — net profit (¥ million) | 3,300 | — | −25.6% |
| Annual dividend per share (¥) | 80.00 | 100.00 | −20.0% |
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.