Public sector squeezed, private sector grows
Sekisui Jushi Corporation (TSE: 4212) reported consolidated results for the first half of FY3/2027, April 1 to September 30, 2026, on October 29, 2026 under Japanese GAAP. In the public sector, sales rose 3.1% to ¥18,078 million on brought-forward demand for road-marking materials and wider sales of temporary traffic-safety products in Europe, but operating profit fell 60.8% to ¥121 million: sound-barrier sales dropped sharply on smaller expressway budgets and delayed deliveries, guardrail installation slowed in poor weather, and some large artificial-turf projects slipped into the second half. The private sector grew sales 5.8% to ¥18,463 million and operating profit 9.7% to ¥2,020 million, helped by brought-forward demand for logistics products and more orders for aluminium-resin composite panels. EBITDA rose 8.0% to ¥3,907 million, and earnings per share were ¥100.24 against ¥36.32.
Capital policy, forecast and dividend
Under its medium-term plan, Sekisui Jushi is accelerating the sale of cross-shareholdings and raising shareholder returns; it resolved a share buyback in May. On October 6, after the period ended, it acquired Hi-Q Co., Ltd., which runs a traffic-safety products business in South Korea and Vietnam. Total assets fell 3.0% to ¥138,324 million and the equity ratio rose to 72.1% from 69.6%. The company kept its FY3/2027 forecast of net sales of ¥84,000 million (+7.5%), operating profit of ¥6,300 million (+10.8%), ordinary profit of ¥6,500 million (+3.8%) and net profit of ¥5,400 million (+35.8%). Under its progressive-dividend policy it paid ¥56 at the half year, up ¥20, and plans ¥44 at year end, for an annual ¥100 against ¥72.
| Metric | H1 FY3/2027 | H1 FY3/2026 | Change |
|---|---|---|---|
| Net sales (¥ million) | 36,542 | 34,992 | +4.4% |
| Operating profit (¥ million) | 1,725 | 1,723 | +0.1% |
| EBITDA (¥ million) | 3,907 | 3,618 | +8.0% |
| Ordinary profit (¥ million) | 2,050 | 1,993 | +2.8% |
| Net profit attrib. to owners of parent (¥ million) | 3,003 | 1,118 | +168.6% |
| Comprehensive income (¥ million) | 1,697 | 1,962 | -13.5% |
| EPS (¥) | 100.24 | 36.32 | +176.0% |
| Total assets (¥ million) | 138,324 | 142,568 | -3.0% |
| Net assets (¥ million) | 101,569 | 101,103 | +0.5% |
| Equity ratio | 72.1% | 69.6% | +2.5 pt |
| FY3/2027 guidance — revenue (¥ million) | 84,000 | — | +7.5% |
| FY3/2027 guidance — operating profit (¥ million) | 6,300 | — | +10.8% |
| FY3/2027 guidance — ordinary profit (¥ million) | 6,500 | — | +3.8% |
| FY3/2027 guidance — net profit (¥ million) | 5,400 | — | +35.8% |
| Annual dividend per share (¥) | 100.00 | 72.00 | +38.9% |
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.