SE Corporation
3423・Standard Market・Metal Products
Construction Materials & Equipment Manufacturing and Sales Business
Manufacturing and sales business for civil engineering and construction materials, driven primarily by national resilience initiatives and infrastructure aging countermeasures
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (Full Year, FY2026 ending March 2026) | ¥12,020 million | ¥12,500 million | ↓ |
| Operating Profit (Full Year, FY2026 ending March 2026) | ¥718 million | ¥800 million | ↓ |
| Operating Margin (Full Year, FY2026 ending March 2026) | 5.9% | 6.4% | ↓ |
| Segment Assets (End of FY2026, ending March 2026) | ¥16,760 million | ¥17,824 million | ↓ |
| Depreciation (Full Year, FY2026 ending March 2026) | ¥632 million | ¥581 million | ↑ |
Business Details
Manufactures and sells Cable Products such as anchors, fall prevention devices for bridges, PC cables, external cables, and stay cables; Steel Products such as KIT pressure plates and displacement control devices; and Concrete Products including ESCON. Main customers are public works projects (national resilience, expressway renewal, disaster prevention construction, etc.), and this segment accounts for approximately 47% of consolidated net sales (FY2026, ending March 2026) as the core segment of the SE Group. The business is operated by the Company along with Earth Design Engineering Co., Ltd., SE Tekken Co., Ltd., A&K Honshu Co., Ltd., and Hokuto Transport Co., Ltd.
Recent Overview
Both net sales and operating profit declined year-on-year due to lower demand from a temporary lull between projects and labor shortages at construction sites
In FY2026 (ending March 2026), in addition to a temporary decline in demand due to a lull between projects, construction schedule revisions caused by labor shortages at construction sites overlapped, resulting in net sales of ¥12,020 million (down 3.8% year-on-year) and operating profit of ¥718 million (down 10.3% year-on-year). While construction volume in the concrete field declined significantly in the second half of the fiscal year, signs of recovery were seen in reconstruction and disaster-related projects, including those related to the Noto earthquake, and expressway renewal-related construction also saw a slight recovery due to rush demand, but net sales overall remained sluggish. Note that the useful life of fixed assets has been shortened in connection with the closure of the Kariya plant of consolidated subsidiary SE Tekken Co., Ltd. (resolved by the Board of Directors in November 2025).
Key Products
Growth Drivers
- Solid infrastructure investment demand backed by expansion of public works as the first year of the "1st National Resilience Implementation Medium-Term Plan" begins
- Continued demand for infrastructure aging countermeasures such as expressway renewal and bridge renewal construction
- Sales capture from progress on reconstruction and disaster-related projects, including those related to the Noto earthquake
- Expanded deployment of Concrete Products including ESCON for large-scale bridge repair projects
- Promotion of procurement optimization and sales price pass-through through coordination between the sales and production departments
Risks
- Risk of sales fluctuation due to a lull between large-scale projects (a decline in consolidated net sales is also expected in the FY2027 (ending March 2027) forecast)
- Timing shifts in sales recognition due to delays in Noto earthquake reconstruction projects and expressway renewal construction
- Cost increase pressure from continued high energy and raw material prices
- Impact of labor shortages at construction sites on construction progress and product delivery
- High dependence of earnings on the scale of the public investment budget (significant impact on consolidated results as the core segment)
- Costs associated with restructuring the production system and impact on supply capacity due to the closure of the Kariya plant
Last updated: June 23, 2026