JESCO Holdings,Inc.
1434・Standard Market・Construction
Domestic EPC Business
The core segment of the JESCO Group, centered on renewable energy and telecommunications infrastructure construction.
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (9 months cumulative, FY2026 ending August 2026) | ¥9,170 million | ¥9,069 million (9 months cumulative, FY2025 ending August 2025) | ↑ |
| Segment profit (9 months cumulative, FY2026 ending August 2026) | ¥1,279 million | ¥750 million (9 months cumulative, FY2025 ending August 2025) | ↑ |
| Orders received (9 months cumulative, FY2026 ending August 2026) | ¥12,546 million | ¥7,675 million (9 months cumulative, FY2025 ending August 2025) | ↑ |
| Order backlog carried forward (as of May 31, 2026) | ¥12,505 million | ¥6,794 million (as of May 31, 2025) | ↑ |
| Net sales (full year FY2025 ending August 2025) | ¥12,820 million | － | — |
| Segment profit (full year FY2025 ending August 2025) | ¥1,180 million | － | — |
Business Details
This segment is handled by five companies: JESCO Network System, JESCO Ecosystem, JESCO SUGAYA, JESCO AKUZAWA, and JESCO MAGNA. It provides one-stop design, procurement, construction management, and maintenance services covering solar power generation equipment, grid-connected storage battery equipment, mobile communication base stations, disaster prevention radio systems, surveillance cameras, road ancillary equipment, and more. As an independent player not dependent on any specific prime contractor, the segment maintains a diverse order base, and its offshore design system in Vietnam provides a cost-competitive advantage.
Recent Overview
Orders received surged 63.5% year on year, and the order backlog carried forward doubled to ¥12,505 million.
In the nine months cumulative of FY2026 (ending August 2026) (September 2025 to May 2026), orders grew substantially, centered on grid-connected storage battery equipment and telecommunications systems, with orders received reaching ¥12,546 million (up 63.5% year on year) and the order backlog carried forward expanding to ¥12,505 million, approximately 1.8 times the prior-year level. Net sales rose modestly to ¥9,170 million (up 1.1% year on year), affected by timing delays in solar and grid-connected storage battery equipment construction. Meanwhile, improved utilization rates and progress on high-margin projects drove a substantial increase in segment profit to ¥1,279 million (up 70.5% year on year).
Key Products
Growth Drivers
- Expansion of self-consumption solar power demand driven by renewable energy expansion under the 7th Strategic Energy Plan (targeting 23-29% solar share by FY2040) and the mandatory rooftop solar installation for factories and other facilities starting FY2026
- Expanding investment in grid-connected storage battery equipment driven by expanded output curtailment amid growing renewable energy adoption
- Increasing demand for telecommunications systems, disaster prevention radio systems, and surveillance camera (CCTV) construction driven by the National Resilience 5-Year Plan and defense facility reinforcement
- Growing need for prime contractors capable of handling everything from design through construction amid the engineer shortage in the construction industry
- Strengthening of design speed and cost competitiveness through the Vietnam offshore design system, and promotion of front-loading and back-office process reform through the use of generative AI
Risks
- Risk of construction schedule delays (timing risk) due to external factors such as grid interconnection in solar power generation and grid-connected storage battery equipment construction
- Rising labor costs and constraints on construction capacity due to a worsening shortage of highly skilled engineers in the construction industry and intensifying competition for hiring
- Rising construction costs due to soaring raw material and resource/energy prices (being addressed through explicit contractual terms and early securing of materials and equipment)
- Risk of demand fluctuation due to changes or reductions in specific policies and subsidy programs (related to renewable energy)
- Quality and process management risk in a construction management structure highly dependent on outsourced partner companies
Last updated: November 26, 2025