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To tell whether Tokyu Construction is growing profitably, compare sales, gross profit, and operating income across the same fiscal periods and on the same reporting basis. The company’s FY2026 consolidated results, for the year ended March 31, 2026, were net sales of ¥341.1 billion, operating income of ¥16.3 billion, profit attributable to owners of parent of ¥13.3 billion, and ROE of 12.6%. Those figures show the reported result; they do not, by themselves, establish what caused the change or whether a future forecast will be met.
Start with the reporting period and basis
Tokyu Construction (Tokyo Stock Exchange Prime Market security code 1720) has a fiscal year running from April 1 through March 31. Its FY2026 ended March 31, 2026. Before comparing any two figures, check both the fiscal period and whether the figures are consolidated or non-consolidated. Consolidated results cover the group; non-consolidated results cover the individual company. They are different reporting series, not interchangeable measures. The company’s stock overview identifies its listing and fiscal calendar.
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Read the statements in sequence
Sales: how much work was recognized as revenue?
Net sales indicate the amount of work recognized as revenue during the period. Sales growth is useful context, but it does not prove that the work generated more profit: costs may rise as well. Compare sales only across matching fiscal periods and reporting bases.
Gross profit: what remained after construction costs?
Gross profit is sales less the direct costs associated with that work. Gross margin—gross profit divided by sales—shows the share of sales remaining before corporate overhead. If sales rise while gross margin falls, the company is generating less gross profit per yen of sales. Tokyu Construction’s financial highlights include historical results, while its FY2025 non-consolidated summary reports completed construction sales and gross profit, including building and civil engineering breakdowns. Use those categories only for like-for-like comparisons. See the company’s financial highlights.
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Operating income and margin: did core operating profitability improve?
Operating income measures profit from ordinary operations before non-operating and extraordinary items. Calculate operating margin as operating income divided by net sales. Compare the growth rates of sales and operating income: if operating income grows faster over the same periods and on the same basis, operating margin has expanded. For FY2025, Tokyu Construction reported non-consolidated net sales of ¥263,945 million and operating income of ¥6,770 million. Do not put those individual-company figures in a direct series with FY2026 consolidated results.
Ordinary income and parent-attributable profit: check what happened below operating income
Ordinary income and profit attributable to owners of parent can move differently from operating income because non-operating and other items affect the intervening lines. A rise in net profit alone is not evidence that operating performance improved. Trace the results through the statement and compare operating income as well. The company’s financial information and historical disclosures are available through its financial highlights and IR library.
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What Tokyu Construction reported for FY2026
President Koji Hisada reported these FY2026 consolidated figures for the year ended March 31, 2026:
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| Measure | FY2026 result |
|---|---|
| Net sales | ¥341.1 billion |
| Operating income | ¥16.3 billion |
| Profit attributable to owners of parent | ¥13.3 billion |
| ROE | 12.6% |
Hisada said net sales reached a record, supported by domestic construction demand. He attributed profit that significantly exceeded the initial forecast to on-site ingenuity using digital technology and the rational reflection of cost fluctuations in contract prices. This is management’s explanation, not an independently established breakdown of how much each factor contributed. The company’s president’s message presents the results and explanation.
Compare actual results with forecasts carefully
A forecast is management’s estimate, not a guarantee. Tokyu Construction’s disclosure policy says actual performance may differ from forward-looking information because of economic conditions, market trends, and other factors. When describing a result against guidance, identify which forecast you mean—for example, the initial forecast—and treat any explanation of the difference as the company’s account. See the company’s disclosure policy.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to track the next report
- Open the company’s IR library and locate the latest financial results release. Check the publication date and whether it covers a quarter or the full year.
- Record the fiscal period and whether each value is consolidated or non-consolidated before copying sales, gross profit, operating income, and profit attributable to owners of parent.
- For matched periods, compare sales growth, gross-profit growth and gross margin, and operating-income growth and operating margin. Check below-operating-line results separately.
- Read the accompanying forecast and any revision alongside actual results. Label management’s stated reasons as explanations, and account for the company’s warning that actual performance can differ.
- Use more than one period to assess a trend, and check for newer releases before calling an older year the latest performance picture.
FY2026 is the full-year result established here; the FY2027 first-quarter results and current full-year forecast are not established here. Verify the latest release in the IR library before making a current-period comparison.
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