AP Holdings' latest annual report shows that the real change was below the line. Net sales rose to ¥21.82bn from ¥21.07bn in the year to March 2026, while ordinary income climbed to ¥721.8mn from ¥253.0mn.
The bigger swing was in parent-level earnings. Profit attributable to owners of the parent came in at ¥1.14bn, versus a ¥36.9mn loss a year earlier. Sales growth itself was not dramatic, which makes the profit reversal the more notable part of the filing. The evidence provided here, however, does not spell out the operating reasons behind it.
The balance sheet improved too. Net assets recovered to ¥1.12bn from negative ¥50.7mn, and total assets stood at ¥8.01bn at year-end. For readers watching balance-sheet risk, the return to positive equity matters almost as much as the profit line.