FUJITA ENGINEERING CO.,LTD.
1770・Standard Market・Construction
Business
Fujita Engineering is a comprehensive engineering group headquartered in Takasaki City, Gunma Prefecture, established in 1964 (marking its 100th anniversary in June 2026). The group, which includes 6 consolidated subsidiaries, operates across four segments: Construction Business (building, industrial, and environmental equipment工事 [construction work]), Equipment Sales and Information Systems Business (industrial equipment sales, information and communication equipment installation, software development), Equipment Maintenance Business (maintenance, repair, and installation of air conditioning equipment, etc.), and Electronic Components Manufacturing Business (inspection, sorting, assembly, and equipment manufacturing). The company has established a system capable of providing one-stop services from equipment planning through construction, maintenance, and contracted management, with private companies and public institutions as its main customers. Listed on the Standard Market of the Tokyo Stock Exchange.
Business Model
In the core construction business, the company receives orders for and installs equipment, and after completion, the equipment maintenance business continuously secures maintenance and repair contracts, forming a circular business model. The equipment sales and information systems business promotes cross-selling by supplying industrial equipment and information/communication equipment both within and outside the group. The electronic components manufacturing business contributes complementary revenue through contract processing and equipment development. The company operates using internal funds as its primary source of financing, while maintaining financial soundness (equity ratio of 64.9%).
Company Strengths
Order intake for the construction business in FY2026 (ending March 2026) reached ¥22,235 million (up 32.2% year on year), of which industrial facility construction expanded sharply to ¥14,861 million (up 55.0% year on year). The order backlog has been building up, and sales recognition is expected to continue in subsequent periods in line with construction progress. The gap between order intake and sales is a temporary effect of construction progress timing, and the strength of the order base is underpinned by the company's own sales capability and technical expertise.
The company operates the construction business (installation), equipment sales and information systems business (equipment supply), and equipment maintenance business (maintenance and repair) in an integrated manner, covering the entire equipment lifecycle of its customers. Sales in the maintenance business grew steadily to ¥7,682 million (up 3.7% year on year), and the synergy of securing ongoing contracts after construction completion has been confirmed as a track record.
The equity ratio at the end of FY2026 (ending March 2026) improved to 64.9% (up from 62.7% in the previous fiscal year), and total net assets stood at ¥20,651 million. Cash and cash equivalents were secured at ¥7,939 million, indicating low reliance on interest-bearing debt. This financial foundation serves as a funding source for business expansion through M&A (such as making Gunko Co., Ltd. a subsidiary) and the utilization of external resources.
ENVALITH's Perspective
Performance Trend
Revenue rose from ¥32,273 million in FY2024 (ended March 2024) to ¥32,647 million in FY2025 (ended March 2025), before turning to a decline in FY2026 (ending March 2026) at ¥29,769 million, following two consecutive years of growth. The main cause was a substantial revenue decline in the construction business, which fell to ¥14,729 million (down 19.7% year on year) due to the impact of construction progress timing. On the other hand, the equipment sales and information systems business (¥8,042 million, up 8.6% year on year) and the equipment maintenance business (¥7,682 million, up 3.7% year on year) both secured revenue growth. Operating profit declined to ¥2,618 million (down 11.3% year on year), but net profit increased to ¥1,840 million (up 3.0% year on year) due to the disappearance of the prior-period impairment loss of ¥387,640 thousand. Amid continued external pressure from rising construction material prices and labor costs, the operating margin was maintained at 8.8%. The buildup in construction business order backlog to ¥22,235 million (up 32.2% year on year) suggests a recovery in performance from the following period onward.
Growth Strategy
Evolving into a value-creating company built on three pillars: M&A, DX, and investment in human capital
In May 2025, the company made Gunko Co., Ltd. (building construction and exterior wall work, North Kanto area) a subsidiary at an acquisition cost of ¥363,920 thousand. This added a building construction domain to the construction business, aiming to expand construction volume through synergies with the existing building construction division. The medium-term management plan explicitly identifies M&A as a growth vehicle, and further deals leveraging financial capacity are expected to continue being considered.
Orders received for industrial facility construction in FY2026 (ending March 2026) expanded sharply to ¥14,861 million (up 55.0% year on year). This was supported by favorable market tailwinds from growing capital expenditure appetite among private companies, combined with successful order capture driven by strengthened solution capabilities. By recognizing the accumulated order backlog as sales from FY2027 (ending March 2027) onward, the company aims to achieve its net sales forecast of ¥31,000 million.
Under the medium-term management plan “Integrity & Initiative,” DX promotion is positioned as a pillar of operational efficiency improvement. Combined with restructuring of the production system, this aims to counter external cost pressures from rising material prices and labor costs, while maintaining and improving profit margins. Selling, general and administrative expenses in FY2026 (ending March 2026) were ¥2,837 million, slightly down from ¥2,890 million in the previous period, indicating that cost management efforts are partially bearing fruit.
The medium-term management plan positions investment in human capital as a key priority measure to address the industry-wide challenge of a shortage of skilled workers. The company also recorded special retirement benefits of ¥81,454 thousand in FY2026 (ending March 2026) as part of optimizing its personnel structure. Amid favorable market tailwinds from improving employment and income conditions, the company aims to maintain and expand its construction capacity by enhancing recruitment strength and retention rates.
Last updated: July 19, 2026