Upcon Corp

Upcon Corp maintains a strong liquidity position with a current ratio of 6.33 and cash and equivalents of ¥1.33 billion, significantly exceeding the industry median. The company's debt-to-equity ratio of 0.12 indicates a conservative capital structure, with long-term debt at ¥228.27 million compared to total equity of ¥1.86 billion. Profitability metrics show a return on equity of 16.38% and return on assets of 13.11%, both above the industry median for Construction & Engineering firms. Operating income of ¥420.61 million and net income of ¥304.49 million reflect strong margins, supported by a gross profit of ¥911.02 million on revenue of ¥1.39 billion. The company's revenue is split between private and public business segments, with no disclosed geographic concentration beyond Japan. The private business focuses on residential and commercial properties, while the public business includes infrastructure projects such as agricultural canals and airport runways. Outlook for the current fiscal year shows a projected revenue growth of 4.2%, with a 3.8% increase in operating income. The next fiscal year is expected to see a 5.1% revenue growth and a 4.5% increase in operating income, driven by expansion in public infrastructure projects. Risk assessment indicates low liquidity and dilution risk, with no immediate filing-based flags detected. The company has not issued new shares in the past 12 months, and no dilution sources were identified in recent filings. Recent events include the completion of a major airport runway repair project in fiscal 2023 and the announcement of a new public infrastructure contract in early 2024. No material regulatory or legal issues were disclosed in the latest annual report.