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Shinagawa Refractories Co., Ltd. ( (JP:5351) ) just unveiled an announcement.
Shinagawa Refractories reported consolidated net sales of ¥177.7 billion for the year ended March 31, 2026, up 23.4% year on year, with EBITDA rising 23.3% and net income attributable to owners of the parent surging 166.6% to ¥26.1 billion. The company’s equity ratio improved to 46.1%, comprehensive income more than tripled, and operating cash flow remained solid, supported in part by changes in the scope of consolidation that added three overseas entities and removed one domestic subsidiary.
Despite higher sales, the operating income margin declined, and the firm forecasts only modest top‑line growth to ¥189.0 billion in fiscal 2027, with EBITDA and operating income expected to edge down and net income projected to fall sharply to ¥10.0 billion. The annual dividend for fiscal 2026 will remain at ¥90 per share, and from fiscal 2027 the company plans to shift from a payout‑ratio‑based policy to a progressive dividend approach targeting a consolidated DOE of 4% or more, signaling a focus on more stable and equity‑linked shareholder returns.
More about Shinagawa Refractories Co., Ltd.
Shinagawa Refractories Co., Ltd. is a Japanese manufacturer of refractory materials used mainly by the steel and heavy industries, supplying heat‑resistant products and related solutions to industrial customers worldwide. The company is listed on the Tokyo and Sapporo exchanges and focuses on strengthening its earnings base while maintaining stable shareholder returns.
Average Trading Volume: 75,932
Technical Sentiment Signal: Buy
Current Market Cap: Yen91.5B
Learn more about 5351 stock on TipRanks’ Stock Analysis page.