SUIDO KIKO KAISHA,LTD
6403・Standard Market・Machinery
Plant Construction
Core business segment responsible for the manufacture and sale of water supply and sewerage/industrial water treatment equipment
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (full year, FY2026 (ending March 2026)) | ¥19,715 million | ¥16,615 million | ↑ |
| Operating profit (full year, FY2026 (ending March 2026)) | ¥1,338 million | ¥853 million | ↑ |
| Orders received (full year, FY2026 (ending March 2026)) | ¥29,861 million | ¥19,457 million | ↑ |
| Depreciation (full year, FY2026 (ending March 2026)) | ¥175 million | ¥158 million | ↑ |
Business Details
Manufactures and sells water purification equipment for water supply facilities, water treatment equipment for sewerage facilities, and water treatment equipment for industrial water and wastewater facilities, among others. Customers are mainly domestic municipalities and government agencies (water supply and sewerage operators) as well as private factories. Revenue recognition is primarily based on the percentage-of-completion method over a period of time, and sales recognition is characterized by seasonality concentrated in the fourth quarter. The company also actively participates in public-private partnership projects such as BT and DB schemes.
Recent Overview
Both net sales and operating profit increased significantly, driven by a surge in orders for large-scale projects and steady progress in construction completion
In the Plant Construction segment for FY2026 (ending March 2026), net sales reached ¥19,715 million (up 18.7% year on year) and operating profit reached ¥1,338 million (up 56.8% year on year). Orders received surged to ¥29,861 million (up 53.5% year on year) due to contract signings for water purification plant renewal projects and large-scale equipment renewal projects under BT and DB schemes, and the order backlog reached a record high of ¥56,569 million on a consolidated basis. From the third quarter, Suido Kiko Middle East was made a consolidated subsidiary (added to the scope of consolidation), and a goodwill impairment loss of ¥929 million was recorded as an extraordinary loss.
Key Products
Growth Drivers
- Increasing demand for equipment renewal of aging water purification plants and wastewater treatment facilities (expansion of national resilience and seismic reinforcement investment)
- Steady progress in construction volume and completion, supported by a high level of order backlog (¥56,569 million on a consolidated basis, a record high)
- Sharp increase in orders received due to large-scale contract signings for major water purification plant renewal and equipment renewal projects under BT and DB schemes (orders received in FY2026 (ending March 2026) up 53.5% year on year)
- Expansion of and increased participation in the public-private partnership (Water PPP, DB/DBO) market
- Expansion of manufacturing and development infrastructure and centralization of product management through the establishment of the Product Engineering Center
Risks
- Seasonality with sales recognition concentrated in the fourth quarter means that first- to third-quarter results are not representative of full-year performance
- Business risk related to Suido Kiko Middle East's Saudi Arabia operations (a goodwill impairment loss of ¥929 million was recorded in FY2026 (ending March 2026))
- Development of business infrastructure and personnel systems to maintain and secure order volume (increase in selling, general and administrative expenses due to higher costs for career-track hiring and new graduate training)
- Non-disclosure of earnings and dividend forecasts for future periods due to the planned delisting following the successful tender offer by Metawater Co., Ltd. (scheduled for June 24, 2026)
Last updated: June 26, 2026