Komori
Results presentation3101TOYOBO CO.,LTD.Materials and Chemicals

FY2026 Second-Quarter Earnings Briefing

In the first half of fiscal 2026, sales of industrial films and resins and chemicals grew, increasing net sales by 7.1% and operating profit by 37.9%. However, interim net income attributable to owners of the parent declined 40.6% due to impairment losses and other factors. The full-year forecast was revised upward for operating profit to ¥27 billion and downward for net income to ¥4 billion.

Worth reading
65In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
45
¥100 million (year-on-year increase in operating income)
Wording
Conditional
How definitive the wording is.

Contents of this document

Results presentationSecond quarter of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,185 100 million+7.1%
Operating profit¥163 100 million+37.9%
Ordinary income¥151 100 million+50.1%
Net income¥34 100 million-40.6%
Gross Profit Margin25.5%
Operating profit margin7.4%
Results for the three months of the current quarter
Net Sales
Second quarter of the fiscal year ending March 2027 (three months)¥1,081 100 million
Operating profit
Second quarter of the fiscal year ending March 2027 (three months)¥91 100 million
By segmentFilms: net sales of ¥48.9 billion and operating profit of ¥8.1 billion; Life Sciences: net sales of ¥9.2 billion and operating loss of ¥1.1 billion; Environment and Functional Materials: net sales of ¥26.7 billion and operating profit of ¥2.5 billion; Textiles: net sales of ¥18.7 billion and operating loss of ¥100 million; Real Estate and Other: net sales of ¥4.5 billion and operating profit of ¥700 million
Full-year earnings forecast
Net Sales
¥4,400 100 million
Operating profit
¥270 100 million
Ordinary income
¥221 100 million
Profit attributable to owners of the parent
¥40 100 million
EBITDA
¥550 100 million
EPS
45.3 Yen
Capital Expenditure
¥205 100 million
Research and Development Expenses
¥150 100 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Change in operating income
Ask price+¥6.0 billion
Volume+¥1.6 billion
Raw Materials and Fuel-¥600 million
Other−¥2.5 billion
Change in full-year operating profit forecast
Ask price+¥9.0 billion
Volume+¥3.0 billion
Raw Materials and Fuel-¥7.0 billion
Other-¥5.9 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Exchange rate
FY2025 actual¥151 /US$
First half of FY26¥156 /US$
FY2026 outlook¥161 /US$
Domestic naphtha
FY2025 actual¥65 thousand/kl
First half of FY26¥103 thousand/kl
FY2026 outlook¥91 thousand/kl
New initiatives
  • Modification of manufacturing equipment for protective films for liquid-crystal polarizers and an approximately 30% increase in production capacity
  • An investment of approximately ¥20 billion in new equipment at the Utsunomiya Plant for release films used in ceramic capacitors
  • An investment of approximately ¥5 billion in the Odate Dialysis Membrane Plant for hollow-fiber membranes used in artificial kidneys
  • Suspension of the apparel textile business of the El Salvador subsidiary at the end of November 2026
  • Making TIAF, a Thai company producing yarn for airbags, a wholly owned subsidiary
Key KPIsA metric the company considers important as a management benchmark.
  • EBITDA¥305 100 million
    Year on year against the same period last year+28.9%
  • EPS38.6 Yen
  • ROE3.2%
  • ROIC4.4%
  • D/E ratio1.17 x
    Year on year against the same period last yearImproved
Segment results
Film
Net Sales974
Revenue unit¥100 million
Year-on-year change in revenue+12.6%
Operating profit132
Operating profit unit¥100 million
Operating profit year on year+53.2%
Life Sciences
Net Sales183
Revenue unit¥100 million
Year-on-year change in revenue+10.9%
Operating profit-16
Operating profit unit¥100 million
Operating profit year on year▲¥1.7 billion
Environment and Functional Materials
Net Sales556
Revenue unit¥100 million
Year-on-year change in revenue+9.5%
Operating profit52
Operating profit unit¥100 million
Operating profit year on year+71.4%
Fibers
Net Sales375
Revenue unit¥100 million
Year-on-year change in revenue▲6.1%
Operating profit-5
Operating profit unit¥100 million
Operating profit year on year−¥0.5 billion
Real Estate and Other
Net Sales96
Revenue unit¥100 million
Operating profit13
Operating profit unit¥100 million
Operating profit year on yearDown ¥100 million
Medium-term management plan targets
Target fiscal yearFY2030
ROEAbove 8%
Financial targets
ROE
Actual results3.2%
ROIC
Actual results4.4%
Debt-to-equity ratio
Actual results1.17 x
Capital expenditures
¥98 100 million first-half actual
Annual Dividend
Annual dividend per share40 Yen
Contents of this document
ItemDetails
Document typeResults presentation
Fiscal Period CoveredSecond quarter of the fiscal year ending March 2027
Net Sales¥2,185 100 million (YoY +7.1%)
Operating profit¥163 100 million (YoY +37.9%)
Ordinary income¥151 100 million (YoY +50.1%)
Net income¥34 100 million (YoY -40.6%)
Gross Profit Margin25.5%
Operating profit margin7.4%
Results for the three months of the current quarterNet Sales ¥1,081 100 million / Operating profit ¥91 100 million / By segment Films: net sales of ¥48.9 billion and operating profit of ¥8.1 billion; Life Sciences: net sales of ¥9.2 billion and operating loss of ¥1.1 billion; Environment and Functional Materials: net sales of ¥26.7 billion and operating profit of ¥2.5 billion; Textiles: net sales of ¥18.7 billion and operating loss of ¥100 million; Real Estate and Other: net sales of ¥4.5 billion and operating profit of ¥700 million
Full-year earnings forecastNet Sales ¥4,400 100 million / Operating profit ¥270 100 million / Ordinary income ¥221 100 million / Profit attributable to owners of the parent ¥40 100 million / EBITDA ¥550 100 million / EPS 45.3 Yen / Capital Expenditure ¥205 100 million / Research and Development Expenses ¥150 100 million
Segment resultsFilm Net Sales 974 / Revenue unit ¥100 million / Year-on-year change in revenue +12.6% / Operating profit 132 / Operating profit unit ¥100 million / Operating profit year on year +53.2% / Life Sciences Net Sales 183 / Revenue unit ¥100 million / Year-on-year change in revenue +10.9% / Operating profit -16 / Operating profit unit ¥100 million / Operating profit year on year ▲¥1.7 billion / Environment and Functional Materials Net Sales 556 / Revenue unit ¥100 million / Year-on-year change in revenue +9.5% / Operating profit 52 / Operating profit unit ¥100 million / Operating profit year on year +71.4% / Fibers Net Sales 375 / Revenue unit ¥100 million / Year-on-year change in revenue ▲6.1% / Operating profit -5 / Operating profit unit ¥100 million / Operating profit year on year −¥0.5 billion / Real Estate and Other Net Sales 96 / Revenue unit ¥100 million / Year-on-year change in revenue Not disclosed / Operating profit 13 / Operating profit unit ¥100 million / Operating profit year on year Down ¥100 million
Breakdown of Factors Affecting the ChangeChange in operating income Ask price +¥6.0 billion / Volume +¥1.6 billion / Raw Materials and Fuel -¥600 million / Other −¥2.5 billion / Change in full-year operating profit forecast Ask price +¥9.0 billion / Volume +¥3.0 billion / Raw Materials and Fuel -¥7.0 billion / Other -¥5.9 billion
Key KPIsIndicator name EBITDA / Value ¥305 100 million / Year on year against the same period last year +28.9%, Indicator name EPS / Value 38.6 Yen / Year on year against the same period last year Not disclosed, Indicator name ROE / Value 3.2% / Year on year against the same period last year Not disclosed, Indicator name ROIC / Value 4.4% / Year on year against the same period last year Not disclosed, Indicator name D/E ratio / Value 1.17 x / Year on year against the same period last year Improved
Assumptions Underlying the Business OutlookExchange rate FY2025 actual ¥151 /US$ / First half of FY26 ¥156 /US$ / FY2026 outlook ¥161 /US$ / Domestic naphtha FY2025 actual ¥65 thousand/kl / First half of FY26 ¥103 thousand/kl / FY2026 outlook ¥91 thousand/kl
Medium-term management plan targetsTarget fiscal year FY2030 / ROE Above 8%
Financial targetsROE Actual results 3.2% / ROIC Actual results 4.4% / Debt-to-equity ratio Actual results 1.17 x
Annual DividendAnnual dividend per share 40 Yen / Interim and Year-End Breakdown Not disclosed
Capital expenditures¥98 100 million (first-half actual)
New initiativesModification of manufacturing equipment for protective films for liquid-crystal polarizers and an approximately 30% increase in production capacity, An investment of approximately ¥20 billion in new equipment at the Utsunomiya Plant for release films used in ceramic capacitors, An investment of approximately ¥5 billion in the Odate Dialysis Membrane Plant for hollow-fiber membranes used in artificial kidneys, Suspension of the apparel textile business of the El Salvador subsidiary at the end of November 2026, Making TIAF, a Thai company producing yarn for airbags, a wholly owned subsidiary
Items this document does not state (12)
Selling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Higher sales of industrial films and resins and chemicals, along with price revisions, boosted operating profit. Net income declined due to an impairment loss in the contract pharmaceutical manufacturing business, costs related to business structure improvements, and a decline in contract volumes resulting from the emergence of competing products.

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