YAMATO CORPORATION
1967・Standard Market・Construction
Construction Works
The Yamato Group's core segment, handling general construction work, accounts for approximately 99% of net sales.
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (external customers) | ¥53,741 million | ¥52,638 million | ↑ |
| Segment profit (operating profit) | ¥5,287 million | ¥4,652 million | ↑ |
| Segment profit margin | 9.8% | 8.8% | ↑ |
| Segment assets | ¥59,922 million | ¥57,114 million | ↑ |
| Orders received | ¥54,618 million | ¥58,809 million | ↓ |
| Order backlog at period-end | ¥46,456 million | ¥45,579 million | ↑ |
| Increase in tangible and intangible fixed assets | ¥4,481 million | ¥837 million | ↑ |
Business Details
Handles design, supervision, and construction across five fields: building/civil engineering, air conditioning/sanitary, electrical/telecommunications, water treatment plants, and refrigeration/cold storage. Serves both government and private-sector clients, and is advancing a transformation from on-site construction to factory manufacturing through pipe processing at in-house factories. Multiple consolidated subsidiaries—including Yamato Maintenance, Saitama Yamato, Yamato Izumi Technos, Saiei Yamato, and Joumo Kensetsu—handle their respective specialized domains.
Recent Overview
Both net sales and profit increased, but orders received declined 7.1% year on year, a deterioration in a leading indicator.
In FY2026 (ending March 2026), the construction works segment achieved net sales of ¥53,741 million (up 2.1% year on year) and segment profit of ¥5,287 million (up 13.7% year on year), representing increases in both sales and profit. Growth was led by water treatment plants (net sales up 25.0% year on year) and electrical/telecommunications (up 10.0% year on year). Meanwhile, orders received declined to ¥54,618 million (down 7.1% year on year), with particularly sharp declines in air conditioning/sanitary (down 13.2%) and refrigeration/cold storage (down 26.7%). Acquisitions of tangible fixed assets surged in connection with the construction of Yamato Techno Park, with construction in progress expanding to ¥3,483 million (from ¥131 million at the prior period-end).
Key Products
Growth Drivers
- Diversification of the sales mix driven by strong orders in water treatment plant and electrical/telecommunications works (up 17.8% and 10.0% year on year, respectively)
- Transformation from on-site construction to factory manufacturing through the advancement of in-house pipe processing (productivity improvement and quality enhancement)
- Investment in automation and robotics for steel frame processing and equipment processing toward the launch of "Yamato Techno Park" (under the new medium-term management plan for 2026–2028)
- Continued construction demand supported by resilient public investment and a recovery in private-sector capital expenditure
- Improved visibility of next-period sales due to the buildup of the period-end order backlog to ¥46,456 million (up 1.9% year on year)
Risks
- Orders received in air conditioning/sanitary declined 13.2% year on year, and refrigeration/cold storage declined 26.7% year on year, indicating a substantial drop in orders in core fields and a risk of slowing medium-term sales growth
- Risk of rising construction costs due to persistently high materials and equipment prices and worsening shortages of engineers and skilled workers
- Risk of delayed startup or cost overruns related to large-scale capital expenditure for the construction of Yamato Techno Park (construction in progress of ¥3,483 million)
- Constraints on construction capacity due to trends toward extended construction periods and work-style reform compliance
- The order backlog in refrigeration/cold storage fell sharply to ¥749 million, down 36.6% from the prior period-end, raising the risk of a depleted order pipeline in this field
Last updated: June 15, 2026