Lower sales, higher earnings
Shikoku Gas reported a lower top line but higher earnings in the year to March 2026. Consolidated net sales fell to ¥58.83bn from ¥60.37bn a year earlier, while ordinary income rose to ¥2.83bn from ¥2.45bn. Net profit attributable to owners of the parent increased to ¥1.85bn from ¥1.66bn.
For readers outside Japan, that is the practical signal. Anyone looking only at revenue would miss the direction of earnings here: the top line and profit line moved in different directions. In the source text supplied for this item, the annual securities report is mainly a run of summary figures rather than a narrative explanation, so the reported outcome is clear but the operating reason is not.
| Year to March | Net sales | Ordinary income | Parent net profit |
|---|---|---|---|
| 2022 | ¥46.45bn | ¥3.04bn | ¥2.05bn |
| 2023 | ¥61.73bn | ¥2.90bn | ¥1.94bn |
| 2024 | ¥59.51bn | ¥1.84bn | ¥1.23bn |
| 2025 | ¥60.37bn | ¥2.45bn | ¥1.66bn |
| 2026 | ¥58.83bn | ¥2.83bn | ¥1.85bn |
Five-year context
The longer series puts the latest numbers in context. Consolidated sales were ¥61.73bn in the year to March 2023, ¥59.51bn in 2024, ¥60.37bn in 2025 and ¥58.83bn in 2026. Ordinary income rose from ¥1.84bn in 2024 to ¥2.45bn in 2025 and ¥2.83bn in 2026, but remained below ¥3.04bn in 2022 and ¥2.90bn in 2023.
Parent net profit followed a similar path. It was ¥2.05bn in the year to March 2022, ¥1.94bn in 2023, ¥1.23bn in 2024, ¥1.66bn in 2025 and ¥1.85bn in 2026.
Balance sheet, and the limit of the excerpt
At end-March 2026, consolidated net assets stood at ¥47.69bn and total assets at ¥66.13bn, up from ¥44.63bn and ¥64.49bn a year earlier.
On the evidence provided here, the clearest takeaway is simple: Shikoku Gas closed the year with lower sales and higher profit. The filing extract does not, on its own, say whether that came from prices, procurement, volumes or another factor.