Sanden Kotsu lifts sales to ¥9.05bn, but ordinary loss widens

Sanden Kotsu Co., Ltd. ended the year to March 2026 with a familiar and awkward mix: slightly higher revenue, a deeper ordinary loss and a still-positive bottom line. Consolidated net sales rose to ¥9.05bn from ¥8.94bn, while ordinary loss widened to ¥596.3mn from ¥508.7mn. Profit attributable to owners of parent was ¥278.9mn, so the company remained net profitable without returning to ordinary profit.

The balance sheet looks firmer than the income statement. Net assets stood at ¥4.02bn on total assets of ¥12.12bn, and the equity-to-asset ratio reached 32.72%. Parent-only figures were also negative at the ordinary line, with non-consolidated sales of ¥3.20bn and a non-consolidated ordinary loss of ¥509.4mn. For readers outside Japan, that is the useful signal in the filing: reported capital strength has improved, but pressure at the ordinary earnings line has not disappeared.

The five-year run underlines the split. Sales moved from ¥6.55bn in the year to March 2022 to ¥9.05bn in the latest period, and the series rises each year shown in the filing. Revenue reached ¥8.02bn in 2023, ¥8.77bn in 2024 and ¥8.94bn in 2025 before the latest increase. Ordinary income/loss, however, stayed negative throughout that stretch, improving from a ¥1.30bn loss in 2022 to a ¥508.7mn loss in 2025 before slipping back to a ¥596.3mn loss this year. The figures therefore show improving scale, but not a return to ordinary profitability.

One caveat matters. The evidence packet used for this article contains summary metrics and selected XBRL facts, not the line-item bridge needed to explain why Sanden Kotsu remained net profitable despite the ordinary loss. That limits how much readers can infer from the positive bottom line alone. The cleanest takeaway from the numbers we can verify here is narrower: sales are higher, equity is stronger and ordinary losses are still present.