Kinden: Raises FY2027 forecast, operating profit to ¥105bn
Kinden raised its consolidated forecast for the year ending March 2027 to ¥850 billion in revenue, with operating and ordinary profit at ¥105 billion each and net income at ¥75 billion. Margin gains and Koden's inclusion underpin the upgrade.
Key facts
- Consolidated revenue
- ¥850bn
- Consolidated operating profit
- ¥105bn
- Consolidated net income
- ¥75bn
- Operating profit vs. prior
- Up 8.2%
Consolidated forecast tops previous-year results
Kinden raised its consolidated revenue and profit forecasts, and now expects results for the year ending March 2027 to exceed the previous fiscal year's actual figures.
| Metric | Previous forecast (¥100m) | Revised forecast (¥100m) | Previous-year actual (¥100m) |
|---|---|---|---|
| Revenue | 8,100 | 8,500 | 7,507.42 |
| Operating profit | 970 | 1,050 | 902.56 |
| Ordinary profit | 960 | 1,050 | 944.93 |
| Net income | 700 | 750 | 694.47 |
Earnings per share is forecast at ¥435.50, up from the previous estimate of ¥406.46 and above the previous year's ¥350.53. Compared with the previous forecast, revenue is up 4.9%, operating profit 8.2%, ordinary profit 9.4% and net income 7.1%.
Standalone forecasts also raised
Kinden also lifted its standalone forecast, with revenue through net income now expected to exceed the previous estimates.
| Metric | Previous forecast (¥100m) | Revised forecast (¥100m) | Previous-year actual (¥100m) |
|---|---|---|---|
| Revenue | 6,700 | 6,800 | 6,125.05 |
| Operating profit | 890 | 920 | 791.20 |
| Ordinary profit | 900 | 930 | 815.02 |
| Net income | 670 | 690 | 635.84 |
Earnings per share is revised to ¥400.66 from ¥389.04, topping the previous year's ¥320.94. Versus the previous forecast, revenue is expected to rise 1.5%, operating profit 3.4%, ordinary profit 3.3% and net income 3.0%.
Margin gains and Koden consolidation drive revision
Kinden cited improved standalone profitability and the addition of Koden to its consolidated group as the main reasons for the revisions. The consolidated forecast includes Koden's results from Oct. 1, 2026, through Mar. 31, 2027.
- Standalone margin improvement: Efforts to boost productivity and reduce costs improved profitability.
- Change in consolidation scope: Koden was newly included in the consolidated group, with results for the relevant period incorporated into the forecast.
Improved standalone earnings, together with the impact of consolidating Koden, are expected to lift consolidated revenue and all profit measures above the previous forecast.
Share price around the disclosure
Close on disclosure (Oct 30, 2026)
¥5,894
Latest close (Oct 30, 2026)
¥5,894
Reference chart of daily closing prices, not real-time quotes (split-adjusted; weekly closes before the last year). Updated Oct 30, 2026.
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The Construction & Real Estate industry now
61 companiesKinden is one of 61 Construction & Real Estate companies we cover, #20 by revenue. Here is how the industry’s shares and company plans look:
- Industry shares, 1 year
- +3.4%All industries +14.9%
- Op. profit plan, this FY
- +1.5%All industries +13.0%
- Forecasts raised
- 11cut 0
- Industry op. margin
- 10.1%
- Kinden−4.6%
- Construction & Real Estate (average)+3.4%
- All industries+14.9%
- Latest resultsYear to date through Q1, 33 companies combined: revenue +7.2%, operating profit +17.1% year over year. 5 are ahead of an even pace toward their full-year plan, 28 behind.
- Revisions11 raised and 0 cut this year's forecast. The biggest revision: YURTEC (operating profit +16.9%).
Tags#Kinden#Earnings forecast revision#Electrical construction#Consolidated earnings#Koden#Cost reduction#Operating profit
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The key point is that the upgrade to consolidated earnings reflects two factors: improved standalone profitability and Koden's newly consolidated results. Kinden expects standalone operating profit to rise to ¥92 billion from ¥79.12 billion in the previous fiscal year, indicating an improvement in its core business. The consolidated forecast also includes Koden's results from October 2026 through March 2027, so investors should distinguish the contribution from better margins from the effect of the expanded consolidation scope. The mix of factors behind profit growth will be worth watching.
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