MIURA CO., LTD.

Business Details

The Japan Domestic Business, handled by the Company and its domestic consolidated subsidiaries, provides a broad range of products to domestic customers, including steam and hot water boilers, Aqua Equipment, Marine Equipment, food machinery, water treatment equipment, and medical equipment. The Maintenance Business (paid maintenance contracts and energy-saving activities) is operated in an integrated manner with equipment sales, promoting the building of sustainable customer relationships through total solution proposals. The customer base spans diverse industries including food, medical, shipping, and manufacturing.

Recent Overview

All domestic product categories trended steadily, achieving increases in both revenue and profit year on year

In FY2026 (ending March 2026), the Japan Domestic Business increased sales due to steady sales trends in Boilers and Related Equipment, Aqua Equipment, and Marine Equipment, as well as an increase in the number of paid maintenance contracts and the promotion of energy-saving activities in maintenance activities. Revenue was ¥138,818 million (up 7.7% year on year), and segment profit was ¥21,530 million (up 7.8% year on year). Although personnel expenses and other costs increased, the effect of higher revenue absorbed these increases. Note that from this fiscal year, the segment classification has been changed to a regional basis (Japan Domestic, Americas, Other Asia), making direct comparison with the former classification (Domestic Equipment Sales Business, Domestic Maintenance Business) not possible.

Key Products

Growth Drivers

• Expansion of maintenance revenue through the continued increase in the number of paid maintenance contracts
• Stable trend in domestic capital expenditure demand for Boilers and Related Equipment, Aqua Equipment, and Marine Equipment
• Strengthening of trust relationships with customers through deepening total solution proposal activities
• Expanding demand for clean heat supply products aimed at realizing an energy-saving, decarbonized society
• Creation of sustainable connections with customers based on the super-maintenance company strategy

Risks

• Cost increase pressure from rising personnel expenses, logistics costs, and raw material prices
• Risk of profit margin fluctuation due to changes in the equipment sales product mix
• Disclosure constraints due to the segment classification change (regional basis), making it impossible to track former equipment sales/maintenance-based performance
• Risk of restrained capital expenditure due to uncertainty over the domestic economic outlook amid geopolitical risk and price increases
• Changes in the competitive environment toward achieving the medium-term plan (FY2028 (ending March 2028) targets: revenue of ¥300,000 million, operating profit of ¥36,500 million)