Cleanup Corporation (7955): FY2025 Results Summary — Operating Income More Than Doubles as Net Income Jumps 102.2%

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Cleanup Corporation reported consolidated results for the fiscal year ended March 31, 2026 (FY2025), with net sales up 3.5% year on year to 134.4 billion yen. Operating income rose 90.7% to 3.9 billion yen, ordinary income increased 69.9% to 4.4 billion yen, and profit attributable to owners of parent more than doubled, up 102.2% to 3.4 billion yen. The company said revenue growth was driven by expanded sales of new products and revised selling prices amid sluggish new residential construction starts, while profit improved despite persistently high raw material and energy prices and rising labor costs, supported by increased sales, cost reductions, and restrained SG&A expenses.

Consolidated Results (Full-Year Actual)

For FY2025, net sales, gross profit, and all profit lines increased from FY2024. Gross profit margin improved to 32.9% of net sales from 31.6%, while the SG&A ratio narrowed to 29.9% from 30.0%.

Item	FY2025 (Actual)	FY2024 (Actual)	Change
Net Sales	134.4 billion yen	129.9 billion yen	+3.5%
Gross Profit	44.2 billion yen	41.1 billion yen	+7.5%
Selling, General and Administrative Expenses	40.2 billion yen	39.0 billion yen	+3.1%
Operating Income	3.9 billion yen	2.0 billion yen	+90.7%
Ordinary Income	4.4 billion yen	2.6 billion yen	+69.9%
Profit Attributable to Owners of Parent	3.4 billion yen	1.7 billion yen	+102.2%

Segment Results

Kitchen Equipment (including commercial kitchen) remained the core business, accounting for 81.0% of consolidated net sales in FY2025, unchanged from FY2024. By sales channel, Renovation accounted for 50.8% of net sales (68.3 billion yen) and New Construction for 44.3% (59.5 billion yen) in FY2025, both up from FY2024’s 66.2 billion yen and 57.2 billion yen respectively, amid sluggish new residential construction starts.

Segment	FY2025 (Actual)	FY2025 Distribution Ratio	FY2024 (Actual)
Kitchen Equipment	108.9 billion yen	81.0%	105.2 billion yen
Bathtubs & Washstands	14.8 billion yen	11.0%	14.8 billion yen
Other	10.6 billion yen	8.0%	9.8 billion yen

FY2026 Forecast

For the fiscal year ending March 31, 2027 (FY2026), Cleanup forecasts continued growth across all major P&L lines. The company noted that its forecast does not incorporate the potential impact of factors such as increases in raw material prices and procurement risks resulting from heightened geopolitical risks in the Middle East, as these cannot be reasonably estimated at this time.

Item	FY2026 (Forecast)	FY2025 (Actual)	Change
Net Sales	142.0 billion yen	134.4 billion yen	+5.6%
Gross Profit	47.6 billion yen	44.2 billion yen	+7.6%
Selling, General and Administrative Expenses	42.7 billion yen	40.2 billion yen	+6.0%
Operating Income	4.9 billion yen	3.9 billion yen	+24.1%
Ordinary Income	5.3 billion yen	4.4 billion yen	+20.1%
Profit Attributable to Owners of Parent	3.5 billion yen	3.4 billion yen	+2.1%

Shareholder Returns

Cleanup’s shareholder return policy is to enhance shareholder returns based on stable dividends, and to acquire and cancel an appropriate number of treasury shares, as part of activities under its 2024 Medium-term Plan aimed at improving ROE and increasing PBR. Dividends paid totaled 1.1 billion yen in each of FY2023, FY2024, and FY2025, with DOE (dividend on equity ratio) held at 2.0% in each of those three years; a DOE figure for the FY2026 forecast was not disclosed in the materials. ROE rose to 5.9% in FY2025 from 3.0% in FY2024 and 2.6% in FY2023, and the company forecasts ROE will remain at 5.9% in FY2026.

Fiscal Year	Profit Attributable to Owners of Parent	ROE	DOE
FY2023 (year ended March 2024)	1.4 billion yen	2.6%	2.0%
FY2024 (year ended March 2025)	1.7 billion yen	3.0%	2.0%
FY2025 (year ended March 2026)	3.4 billion yen	5.9%	2.0%
FY2026 (year ending March 2027, Forecast)	3.5 billion yen	5.9%	This cannot be confirmed from the materials.

Topics

Cleanup carried out a full model renewal of its flagship complete system kitchen STEDIA, adding a Natural Wood Countertop co-developed with Asahi Woodtec and a newly developed Clean Trap feature, with order acceptance beginning September 1, 2025; the product was named the No.1 pick in the Home Equipment Kitchen Category of the Renovation Award 2025 for the fourth consecutive year. The company also renovated its Kashiwa Showroom in March 2026, held the 17th Start Dash Contest with roughly 4,000 member companies of its Mizumawari Kobo renovation network, received 3,122 entries in the third Future Kitchen Illustration Contest, and exhibited a concept model at Milan Design Week’s Fuorisalone 2026. In overseas business, the company established a representative office in Shanghai, added new distributors in the Philippines and Indonesia, and began delivering locally produced kitchens in Thailand.

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.