TAKADA CORPORATION
1966・Standard Market・Construction
Plant Business (single segment)
A single-segment company centered on plant construction and maintenance for the steel, chemical, oil, and other industries
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (consolidated, completed construction contracts) | ¥53,693 million | ¥58,067 million | ↓ |
| Operating income (consolidated) | ¥1,778 million | ¥2,933 million | ↓ |
| Ordinary income (consolidated) | ¥1,692 million | ¥2,877 million | ↓ |
| Profit attributable to owners of parent (consolidated) | ¥1,254 million | ¥2,309 million | ↓ |
| Operating margin (consolidated) | 3.3% | 5.1% | ↓ |
| Total assets (consolidated) | ¥47,716 million | ¥45,156 million | ↑ |
| Equity ratio (consolidated) | 45.5% | 44.9% | ↑ |
| Orders received (non-consolidated) | ¥59,144 million | ¥47,331 million | ↑ |
| Completed construction contracts (non-consolidated) | ¥46,968 million | ¥48,634 million | ↓ |
| Sales to major customer Nippon Steel Corporation (consolidated) | ¥16,290 million | ¥11,680 million | ↑ |
| Cash and cash equivalents at period-end (consolidated) | ¥4,502 million | ¥4,926 million | ↓ |
| Earnings per share (consolidated) | ¥171.32 | ¥362.01 | ↓ |
| Net assets per share (consolidated) | ¥2,965.37 | ¥2,764.84 | ↑ |
Business Details
Provides integrated design, fabrication, installation, piping, electrical, instrumentation, and maintenance/repair services for industrial facilities in steel, chemical, oil & natural gas, electric power, electronics, and other sectors. The domestic market is the primary base, with expansion into Southeast Asia including Singapore, Malaysia, and Thailand. The major customer is Nippon Steel Corporation (sales of ¥16,291 million in the current consolidated fiscal year). The equipment business also handles ultrasonic cutting devices and single-wafer wafer cleaning equipment for semiconductor manufacturing. The company has entered into a capital and business alliance with JGC Corporation in the EPC field, promoting efforts in FEED (front-end engineering design).
Recent Overview
Net sales down 7.5% and operating income down 39.4% due to off-season for periodic repair work and postponed construction periods, resulting in a significant decline in profit
In FY2026 (ending March 2026), due to decreased work volume from the off-season for periodic repair work at domestic chemical plants and oil & natural gas plants, and the postponement of scheduled construction periods for some construction projects to subsequent periods due to changes in the external environment, consolidated net sales were ¥53,693 million (down 7.5% year on year) and consolidated operating income was ¥1,778 million (down 39.4% year on year), representing a significant decline in both revenue and profit. On the other hand, orders received (non-consolidated) increased significantly to ¥59,144 million (up 25.0% year on year), driven by orders for steel plants of ¥23,857 million (up 43.1% year on year). For FY2027 (ending March 2027), the company forecasts net sales of ¥55,700 million (up 3.7%) and operating income of ¥1,730 million (down 2.8%).
Key Products
Growth Drivers
- Increase in capital expenditure for decarbonization and carbon-neutrality-related environmental facilities (orders for steel plants reached ¥23,857 million on a non-consolidated basis in the current period, up 43.1% year on year)
- Increase in construction work for semiconductor-related plants (continued orders and completed construction contracts for electronics-related facilities and equipment)
- Enhanced EPC capacity through the capital and business alliance with JGC Corporation (providing added value from upstream processes through FEED initiatives)
- Orders received (non-consolidated) increased significantly to ¥59,144 million (up 25.0% year on year), expected to contribute to sales recognition in future periods
- Strengthened competitiveness of the maintenance business through expansion of the current information diagnostic system "TM EDGEWARE®" into infrastructure and semiconductor fields
- Market expansion of ultrasonic cutting equipment and single-wafer wafer cleaning equipment into the optical-electronic integration and automotive sensor fields
Risks
- Cost pressure from rising raw material prices and higher labor costs due to labor shortages
- Seasonal fluctuation risk in sales due to off-peak and peak seasons for periodic repair work at chemical and oil plants
- Postponement of scheduled construction periods to the following period or later due to changes in the external environment for construction work (some work in the current period was also postponed to subsequent periods)
- Concerns over capital expenditure restraint due to geopolitical risks such as U.S. trade policy and tariff measures
- Dependence risk on specific customers in the steel and chemical industries (sales to Nippon Steel Corporation account for approximately 30% of consolidated net sales)
- Operating cash flow has been negative for two consecutive periods (an outflow of ¥1,146 million in the current period), with short-term borrowings increasing to ¥9,200 million
- Risk of declining order prices (capital expenditure restraint and intensified order competition during economic downturns)
Last updated: June 22, 2026