Restar Corporation (3156): FY2025 Results Summary — Record Profits for a Fifth Straight Year on Devices Growth and M&A

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Restar Corporation (TSE Prime: 3156), an electronics trading group that positions itself as an “Electronics Value Platformer,” reported record-high results for FY25, the fiscal year ended March 2026. Net sales rose 12.5% year on year to 630,905 million yen and operating profit rose 18.1% to 16,739 million yen, both record highs, while profit attributable to owners of parent edged up 2.9% to 7,691 million yen — a record high for the fifth consecutive period. Growth was driven by the devices business and by the consolidation of subsidiaries through M&A and joint ventures. For the following year (FY26), the company forecasts net sales of 700,000 million yen and profit attributable to owners of parent of 10,000 million yen.

Note: The company’s materials label the completed fiscal year (ended March 2026) as “FY25” and the next fiscal year (ending March 2027) as “FY26.” On this site that completed year is classified as FY2025; the body text and tables below follow the company’s own labels.

Consolidated Results (Full-Year Actual)

All four headline profit lines and net sales reached record highs. Ordinary profit jumped 44.0% year on year to 13,762 million yen, helped by a lower cost of raising funds. Operating profit margin was 2.7% and the net income ratio was 1.2%. ROE was 8.6%, ROIC 5.1% and the operating profit margin 2.7% for FY25.

Item	FY24 (Ended Mar 2025)	FY25 (Ended Mar 2026)	Increase/Decrease	Change
Net Sales	561,001	630,905	69,903	12.5%
Gross Profit	47,700	53,613	5,913	12.4%
SG&A	33,526	36,873	3,347	10.0%
Operating Profit	14,174	16,739	2,565	18.1%
Ordinary Profit	9,559	13,762	4,202	44.0%
Profit Attributable to Owners of Parent	7,473	7,691	218	2.9%

Unit: million yen. Source: Financial Results Briefing Materials (FY25), P.5.

Segment Results

In the Devices Business Unit, sales rose on the consolidation of subsidiaries (Restar Dexerials Hong Kong, Korea and Taiwan) and strong demand for products for data centers serving generative AI, high-performance cameras and PC-related equipment; EMS sales declined on the absence of new smartphone-model demand. The System Business Unit saw lower sales, with the Eco-solution business hit by intensifying competition in the new-electricity supply-demand adjustment market. Figures below are on a consolidated basis (unit: million yen).

Business Unit / Segment	Metric	FY24 (Ended Mar 2025)	FY25 (Ended Mar 2026)
Devices Business Unit	Net Sales	495,243	555,863
– Devices	Net Sales	466,453	533,805
– EMS	Net Sales	28,789	22,057
Devices Business Unit	Segment Profit	11,213	14,669
– Devices	Segment Profit	10,491	14,173
– EMS	Segment Profit	721	495
System Business Unit	Net Sales	52,678	48,860
– System Solution	Net Sales	32,025	31,493
– Eco-solution	Net Sales	20,652	17,367
System Business Unit	Segment Profit	4,197	3,164
– System Solution	Segment Profit	716	1,222
– Eco-solution	Segment Profit	3,480	1,942

For the IT&SIer Business Unit, figures on the company’s consolidated basis were net sales of 26,181 million yen and segment profit of 1,245 million yen for FY25 (P.9, P.15). The unit’s own reference values (excerpted from PCI Holdings, INC.) were net sales of 25,747 million yen (FY24) rising to 26,835 million yen (FY25) and segment profit of 1,151 million yen (FY24) rising to 1,558 million yen (FY25).

FY26 Forecast

For FY26 (the fiscal year ending March 2027), Restar forecasts further growth across all headline lines, with profit attributable to owners of parent projected to rise 30.0% to 10,000 million yen. Management targets net sales of 1 trillion yen over the longer term.

Item	FY25 Full-Year (Actual)	FY26 Full-Year (Forecast)	Increase/Decrease	Change
Net Sales	630,905	700,000	69,095	11.0%
Operating Profit	16,739	18,000	1,260	7.5%
Ordinary Profit	13,762	14,500	737	5.4%
Profit Attributable to Owners of Parent	7,691	10,000	2,308	30.0%

Unit: million yen. Source: Financial Results Briefing Materials (FY25), P.13.

Business Unit / Segment	Metric	FY25 (Actual)	FY26 (Forecast)
Devices Business Unit	Net Sales	555,863	611,000
– Devices	Net Sales	533,805	591,000
– EMS	Net Sales	22,057	20,000
System Business Unit	Net Sales	48,860	60,000
– System Solution	Net Sales	31,493	40,400
– Eco-solution	Net Sales	17,367	19,600
IT&SIer Business Unit	Net Sales	26,181	29,000
Consolidated	Net Sales	630,905	700,000
Devices Business Unit	Segment Profit	14,669	14,350
System Business Unit	Segment Profit	3,164	3,800
IT&SIer Business Unit	Segment Profit	1,245	1,600
Corporate and Adjustment	Segment Profit	(2,340)	(1,750)
Consolidated	Operating Profit	16,739	18,000

Shareholder Returns

For FY25, Restar’s dividend per share was 135 yen (interim 65 yen plus year-end 70 yen), equivalent to a DOE (dividend on equity) of 4.0% or more, up from 115 yen in FY24 (payout ratio 49%). Under the medium-term management plan ending March 2027, the basic shareholder-return policy is to balance stable and enhanced returns with proactive growth investment and financial soundness, targeting DOE of 4% or higher, stable and continuous dividend increases, and flexible share buybacks for excess capital.

Medium-Term Management Plan (Final Year)

FY26 (ending March 2027) is the final year of the current medium-term management plan. In the plan revised and disclosed on 2026/5/14, the final-year targets were lowered to ROE of 10.5%, ROIC of 5.5% and an operating profit margin of 2.6% or more, from the earlier plan (disclosed 2025/5/13) of ROE 11.0%, ROIC 6.0% and an operating profit margin of 3.5% or more. The revision reflects factors in the Devices BU (delayed recovery in industrial machinery, deterioration in product mix, a revised timing of global-business partnerships and a revised EMS growth strategy) and in the System BU (stagnating automotive and consumer segments, slowing growth in system equipment such as payment terminals, and changes in the power-industry environment).

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