IR & Research Intelligence, Sessa Investment Research

Sessa Investment Research

IR & Research Intelligence

Sponsored research focusing on Japanese small cap.

Equity Bottom-Up

<ul><li>Q3 FY2025/3 Earnings results summary: Takamiya (hereafter, the Company) reported its Q3(9M) FY2025/3 consolidated earnings results: sales of JPY 32,335 mn (+0.5% YoY), operating profit of JPY 1,316 mn (-45.3% YoY), ordinary profit of JPY 1,209 mn (-52.1% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 867 mn (-49.8% YoY).</li><li>Due to the postponement of the large-scale projects’ commencements, rental volumes fell short of initial expectations.</li><li>Additionally, due to delays in the delivery schedule of sales and OPE-MANE projects, the net sales saw only a slight increase.</li></ul>

Q3 FY2025/3 Earnings results summary: Takamiya (hereafter, the Company) reported its Q3(9M) FY2025/3 consolidated earnings results: sales of JPY 32,335 mn (+0.5% YoY), operating profit of JPY 1,316 mn (-45.3% YoY), ordinary profit of JPY 1,209 mn (-52.1% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 867 mn (-49.8% YoY).Due to the postponement of the large-scale projects’ commencements, rental volumes fell short of initial expectations.Additionally, due to delays in the delivery schedule of sales and OPE-MANE projects, the net sales saw only a slight increase.

Q3 Follow-Up: Takamiya (2445 JP) - March 10, 2025

<ul><li>H1 FY2025/3 Earnings results summary: Takamiya (hereafter, the Company) reported sales of JPY 21,236 mn (+2.1% YoY), operating profit of JPY 802 mn (-33.5% YoY), ordinary profit of JPY 640 mn (-56.9% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 498 mn (-50.5% YoY), falling short of initial forecasts.</li><li>Sales fell 6.0% short of the initial forecast due to delays in the delivery of certain projects which have been pushed back to Q3 and beyond.</li><li>FY2025/3 Company earnings forecast: The full-year forecasts for FY2025/3: net sales of JPY 49,500 mn (+12.2% YoY), operating profit of JPY 3,600 mn (+5.7% YoY), ordinary profit of JPY 3,220 mn (-10.1% YoY), net profit of JPY 2,000 mn (+5.9%). </li></ul>

H1 FY2025/3 Earnings results summary: Takamiya (hereafter, the Company) reported sales of JPY 21,236 mn (+2.1% YoY), operating profit of JPY 802 mn (-33.5% YoY), ordinary profit of JPY 640 mn (-56.9% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 498 mn (-50.5% YoY), falling short of initial forecasts.Sales fell 6.0% short of the initial forecast due to delays in the delivery of certain projects which have been pushed back to Q3 and beyond.FY2025/3 Company earnings forecast: The full-year forecasts for FY2025/3: net sales of JPY 49,500 mn (+12.2% YoY), operating profit of JPY 3,600 mn (+5.7% YoY), ordinary profit of JPY 3,220 mn (-10.1% YoY), net profit of JPY 2,000 mn (+5.9%). 

Takamiya (2445 JP) - Business Model Transition Leads to a Phase of Slower Profit Growth...

<ul><li>Takamiya (hereafter, the Company) reported its 1Q FY2025/3 sales of ¥9,745 mn (-1.5% YoY), operating profit of ¥262 mn (-35.8% YoY), ordinary profit of ¥344 mn (-44.1% YoY), and profit attributable to owners of parent (hereafter, net profit) of ¥195 mn (-53.2% YoY).</li><li>By segment, the Platform Business and Overseas Business saw increases in both sales and profit, while the Rental Business saw sales increase but profit decline, and the Sales Business saw declines in both sales and profit.</li><li><p>1H 2025/3 and the full-year forecast remains unchanged from the initial forecast.</p></li></ul>

Takamiya (hereafter, the Company) reported its 1Q FY2025/3 sales of ¥9,745 mn (-1.5% YoY), operating profit of ¥262 mn (-35.8% YoY), ordinary profit of ¥344 mn (-44.1% YoY), and profit attributable to owners of parent (hereafter, net profit) of ¥195 mn (-53.2% YoY).By segment, the Platform Business and Overseas Business saw increases in both sales and profit, while the Rental Business saw sales increase but profit decline, and the Sales Business saw declines in both sales and profit.1H 2025/3 and the full-year forecast remains unchanged from the initial forecast.

<ul><li>The Company specializes in temporary construction equipment and offers a one-stop service from development and manufacturing to sales, rentals, design and installation, as well as management and logistics.</li><li>Its flagship product, the next-generation scaffolding “Iq System,” was launched in 2014 and excels in safety and ease of use.</li><li>The Company is transitioning its business to a platform-based model aimed at generating stable income with reduced rental asset intensity.</li></ul>

The Company specializes in temporary construction equipment and offers a one-stop service from development and manufacturing to sales, rentals, design and installation, as well as management and logistics.Its flagship product, the next-generation scaffolding “Iq System,” was launched in 2014 and excels in safety and ease of use.The Company is transitioning its business to a platform-based model aimed at generating stable income with reduced rental asset intensity.

<ul><li>Takamiya (hereafter, the Company) announced its FY24/3 full-year earnings results on Friday, May 10, 2024 after the market closed.</li><li>Sales, operating profit, and net profit were below its initial estimates, except for ordinary profit.</li><li>However, a significant increase in profits were achieved thanks to the strong performance of its high-margin rental business.</li></ul>

Takamiya (hereafter, the Company) announced its FY24/3 full-year earnings results on Friday, May 10, 2024 after the market closed.Sales, operating profit, and net profit were below its initial estimates, except for ordinary profit.However, a significant increase in profits were achieved thanks to the strong performance of its high-margin rental business.

Japan

SRG TAKAMIYA CO., LTD is a construction scaffolding leasing company.  The Company's product line includes scaffolding rental and planning for various construction projects.  SRG Takamiya also offers outsourcing services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Srg Takamiya (2445 JP)

Q3 Follow-Up: Takamiya (2445 JP) - March 10, 2025

Q3 FY2025/3 Earnings results summary: Takamiya (hereafter, the Company) reported its Q3(9M) FY2025/3 consolidated earnings results

Sessa Investment Research

Takamiya (2445 JP) - Business Model Transition Leads to a Phase of Slower Profit Growth...

Sales fell 6.0% short of the initial forecast due to delays in the delivery of certain projects which have been pushed back to Q3 and beyond.

Sessa Investment Research

Takamiya (2445 JP) - 1Q Follow-Up

Takamiya (hereafter, the Company) reported its 1Q FY2025/3 sales of ¥9,745 mn (-1.5% YoY), operating profit of ¥262 mn (-35.8% YoY), ordinary...

Sessa Investment Research

Takamiya (2445 JP) - Full Report

The Company is transitioning its business to a platform-based model aimed at generating stable income with reduced rental asset intensity.

Sessa Investment Research

4Q Follow-Up - Takamiya (2445 JP)

A new medium-term business plan announced, with the beginning of disclosure of the Platform Business as a new segment from the current fiscal year

Sessa Investment Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)