TOKYO KEIKI INC.
7721・Prime Market・Precision Instruments
Marine & Port Equipment Business
Marine equipment manufacturing, sales, and repair business built on two pillars: newbuilding vessel demand and maintenance services
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue | ¥13,675 million | ¥12,529 million | ↑ |
| Operating Profit | ¥1,317 million | ¥1,551 million | ↓ |
| Operating Margin | 9.6% | 12.4% | ↓ |
| Segment Assets | ¥8,348 million | ¥7,477 million | ↑ |
| Orders Received | ¥15,280 million | ¥13,817 million | ↑ |
| Order Backlog | ¥7,309 million | ¥5,705 million | ↑ |
| Depreciation | ¥172 million | ¥161 million | ↑ |
Business Details
This segment centers on the manufacture, sale, and repair of marine and port equipment, with Tokyo Keiki's core operations handling the manufacture and sale of marine equipment. Its revenue base rests on equipment sales to the domestic and overseas newbuilding vessel market and high-level demand for maintenance services. In FY2026 (ending March 2026), revenue increased, but operating profit declined due to higher R&D expenses and other costs. The overseas sales ratio was high at 62.5% (¥8,545 million) of total revenue, giving the segment a structure in which performance is influenced by trends in the global shipbuilding market.
Recent Overview
Revenue increased, but operating profit fell 15.1% due to higher R&D expenses; order backlog rose 28.1%, indicating solid future demand
In FY2026 (ending March 2026), steady progress in demand for equipment for newbuilding vessels and continued high-level maintenance service demand drove revenue to ¥13,675 million (+9.1% year on year). On the other hand, operating profit declined to ¥1,317 million (-15.1% year on year) due to increased R&D expenses and other costs, with operating margin falling from 12.4% to 9.6%. Orders received rose to ¥15,280 million (+10.6% year on year), and the order backlog expanded to ¥7,309 million (+28.1% year on year), broadening the future revenue base. For FY2027 (ending March 2027), revenue of ¥14,800 million (+8.2%) and operating profit of ¥1,370 million (+4.0%) are forecast.
Key Products
Growth Drivers
- Steady progress in demand for equipment for newbuilding vessels (revenue +9.1% in FY2026, ending March 2026)
- Stable revenue from continued high-level maintenance service demand
- Accumulation of order backlog (¥7,309 million at end of FY2026, ending March 2026, +28.1% year on year)
- Improved visibility of future revenue from increased orders received (¥15,280 million, +10.6% year on year)
- Increased effect of yen conversion gains from the weak yen trend, given an overseas revenue ratio of 62.5%
Risks
- Margin pressure from increased R&D expenses and other costs (operating margin of 9.6% in FY2026, ending March 2026, down 2.8pt year on year)
- Foreign exchange fluctuation risk (overseas revenue ratio of 62.5%, risk of reversal of weak-yen benefits)
- Risk of demand fluctuation in the shipbuilding market
- Risk of cost ratio deterioration due to rising raw material and parts prices
- Risk of rising parts procurement costs due to China's tightened rare earth export controls and similar measures
Last updated: June 29, 2026