NJS Co.,Ltd.
2325・Prime Market・Services
Domestic Operations
Core segment of the domestic construction consulting business covering the entire water infrastructure value chain
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (Q1 FY2026, ending December 2026) | ¥9,990 million | ¥8,273 million (Q1 FY2025, ending December 2025) | ↑ |
| Operating profit (Q1 FY2026, ending December 2026) | ¥4,121 million | ¥3,315 million (Q1 FY2025, ending December 2025) | ↑ |
| Orders received (Q1 FY2026, ending December 2026) | ¥4,675 million | ¥3,282 million (Q1 FY2025, ending December 2025; derived from 42.4% YoY increase) | ↑ |
| Net sales (full-year actual, FY2025 ending December 2025) | ¥22,910 million | — | ↑ |
| Operating profit (full-year actual, FY2025 ending December 2025) | ¥3,489 million | — | ↑ |
Business Details
This segment is handled by NJS itself and its domestic subsidiaries (including SKY AQUA SERVICE Co., Ltd. [the company formed by integrating the former CDC Aqua Service and Suido Asset Service]). It provides consulting, software development and provision, survey/design/construction management, deterioration diagnosis and inspection, public-private partnership (PPP/PFI) support, and customer service covering the entire lifecycle of water and sewerage infrastructure. Major clients include local governments and public institutions such as the Japan Sewage Works Agency.
Recent Overview
Achieved substantial growth with Q1 net sales up 20.8% and orders received up 42.4%
In Q1 FY2026 (ending December 2026) (January to March 2026), Domestic Operations achieved significant growth across all metrics, with net sales of ¥9,990 million (up 20.8% YoY), operating profit of ¥4,121 million (up 24.3% YoY), and orders received of ¥4,675 million (up 42.4% YoY). This was driven by reconstruction work addressing disaster countermeasures and infrastructure aging, deterioration survey and diagnosis work, and introductory surveys for public-private partnerships. In addition, the absorption-type merger between consolidated subsidiaries (with Suido Asset Service Co., Ltd. as the dissolved company and SKY AQUA SERVICE Co., Ltd. as the surviving company), effective January 10, 2026, was completed, strengthening the foundation of the customer service domain.
Key Products
Growth Drivers
- Expanding demand for addressing sewerage infrastructure aging and reconstruction (heightened social attention following the Yashio City road cave-in accident)
- Increase in introductory surveys and promotion work for Water PPP and public-private partnership projects
- Strengthened foundation and business expansion in the customer service domain through integration into SKY AQUA SERVICE Co., Ltd.
- Capturing demand for DX solutions utilizing the SmartPPP platform
- Capturing demand for advanced infrastructure management through strengthened inspection technology and software-related operations
- Expanding demand for disaster prevention and mitigation infrastructure development amid intensifying natural disasters
Risks
- Dependency risk from sales concentration on a specific customer (Japan Sewage Works Agency)
- Risk of deteriorating order environment due to fluctuations in public infrastructure budgets and policy changes
- Constraints on order capacity due to difficulty securing engineers and specialized personnel
- Impairment risk associated with goodwill recorded from M&A (¥485 million as of the end of March 2026)
- Risk of reduced water and sewerage infrastructure investment due to deteriorating local government finances amid population decline
- Organizational integration and business transition risk associated with subsidiary consolidation (SKY AQUA SERVICE)
Last updated: March 30, 2026