Komori
Earnings presentation3401TEIJIN LIMITEDMaterials and Chemicals

Fiscal 2026 Second-Quarter Results and Fiscal 2026 Earnings Outlook

In the first half of fiscal 2026, revenue declined, while business profit increased by ¥17.8 billion year on year to ¥30.8 billion, reaching 103% of the initial full-year business profit outlook. The full-year outlook was revised upward to revenue of ¥920 billion, business profit of ¥40 billion, and net income of ¥50 billion.

Worth reading
77Important
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
100
¥100 million (increase from the previous full-year business profit outlook)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationSecond quarter of fiscal 2026 (first half)12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥4,396 100 million-2.5%
Operating profit¥708 100 million
Net income¥525 100 million
Selling, general and administrative expenses¥1,043 100 million
Results for the three months of the current quarter
Revenue
¥2,176 100 million
Operating profit
¥108 100 million
Profit before tax for the quarter
¥98 100 million
Quarterly profit attributable to owners of the parent
¥74 100 million
Business profit
¥185 100 million
Full-year earnings forecast
Revenue
¥9,200 100 million
Business profit
¥400 100 million
Profit for the period attributable to owners of the parent
¥500 100 million
ROE
13 %
ROIC
4 %
D/E ratio (after capital adjustments)
0.6 times
Dividend per share
¥50
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Business profit
Initial full-year earnings outlook: ¥30 billion103 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress of 103% against the initial full-year earnings outlook of ¥30 billion
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Company-wide business profit
    Year-on-year change¥178 100 million
    FactorsEffects of structural reforms and improved capacity utilization in Specialty Materials, and higher sales volumes and improved spreads in Electronics & Energy, among other factors
  • Apparel & Industries business profit
    Factors
    Volume variance (including capacity utilization variance) ¥5 100 million, Spread differential ¥10 100 million, Foreign exchange impact ¥5 100 million, Other ¥-13 100 million
  • Healthcare & Life Solutions business profit
    Factors
    Volume variance ¥20 100 million, Selling price and mix differential ¥-5 100 million, Other ¥0 100 million, Pharmaceuticals ¥-14 100 million
  • Electronics & Energy business profit
    Factors
    Volume variance (including capacity utilization variance) ¥15 100 million, Spread differential ¥30 100 million, Foreign exchange impact ¥25 100 million, Other ¥0 100 million
  • Specialty Materials business profit
    Factors
    Volume variance (including capacity utilization variance) ¥80 100 million, Spread differential ¥-20 100 million, Foreign exchange impact ¥15 100 million, Other ¥65 100 million, TAT North America exclusion impact ¥-20 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Full-year average exchange rate (yen/US dollar)157
  • Full-year average exchange rate (yen/euro)183
  • Crude oil (Dubai) price (US dollars/barrel)95
  • European natural gas price (euros/MWh)55
New initiatives
  • Completed the management integration of Teijin Frontier and Asahi Kasei Advance and launched operations as TA Frontier
  • Continue to narrow the focus of the pharmaceutical business
  • Advance cost structure reforms
Key KPIsA metric the company considers important as a management benchmark.
  • ROIC6.4 %
    Year on year against the same period last year+3.8%
  • EBITDA¥559 100 million
    Year on year against the same period last year+25.9%
  • Free cash flow¥651 100 million
    Year on year against the same period last year+574.0%
  • D/E ratio (after capital adjustments)0.58 times
    Year on year against the same period last year-0.2%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Number of CPAP rental unitsIncreased
    Year on year against the same period last yearIncreased
  • Sales volume of orphan drugsIncreased
    Year on year against the same period last yearIncreased
  • Sales volumeSteady
    Year on year against the same period last yearSteady
Segment results
  • Apparel & Industrial Materials
    Revenue¥1,852 100 million (YoY +8.7%)
    Business profit¥97 100 million (YoY +7.8%)
  • Healthcare & Life Solutions
    Revenue¥638 100 million (YoY -6.6%)
    Business profit¥71 100 million (YoY +0.8%)
  • Electronics & Energy
    Revenue¥899 100 million (YoY +18.9%)
    Business profit¥168 100 million (YoY +70.7%)
  • Specialty Materials
    Revenue¥921 100 million (YoY -26.4%)
    Business profit¥58 100 million
  • Other
    Revenue¥85 100 million (YoY -26.3%)
    Business profit¥-32 100 million
Medium-term management plan targets
ROIC
Target fiscal yearFY2028
Target value5 %
ROIC by segment
Apparel & Industrial Materials8 %
Healthcare & Life Solutions12 %
Electronics & Energy16 %
Specialty Materials6 %
Financial targets
ROE
13 %
ROIC
4 %
D/E ratio (after capital adjustments)
0.6 times
Equity ratio attributable to owners of the parent
42 %
Market Size / Share
Potential sleep apnea patient population in JapanMore than 9 million people
Capital expenditures
¥650 100 million full-year outlook
Annual Dividend
Annual¥50 /share
Interim¥25 /share
End of period¥25 /share
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredSecond quarter of fiscal 2026 (first half)
Net Sales¥4,396 100 million (YoY -2.5%)
Operating profit¥708 100 million
Net income¥525 100 million
Selling, general and administrative expenses¥1,043 100 million
Results for the three months of the current quarterRevenue ¥2,176 100 million / Operating profit ¥108 100 million / Profit before tax for the quarter ¥98 100 million / Quarterly profit attributable to owners of the parent ¥74 100 million / Business profit ¥185 100 million
Full-year earnings forecastRevenue ¥9,200 100 million / Business profit ¥400 100 million / Profit for the period attributable to owners of the parent ¥500 100 million / ROE 13 % / ROIC 4 % / D/E ratio (after capital adjustments) 0.6 times / Dividend per share ¥50
Progress against full-year forecastBusiness profit 103 %
Self-assessment against the planProgress of 103% against the initial full-year earnings outlook of ¥30 billion
Segment resultsSegment Apparel & Industrial Materials / Revenue ¥1,852 100 million (YoY +8.7%) / Business profit ¥97 100 million (YoY +7.8%), Segment Healthcare & Life Solutions / Revenue ¥638 100 million (YoY -6.6%) / Business profit ¥71 100 million (YoY +0.8%), Segment Electronics & Energy / Revenue ¥899 100 million (YoY +18.9%) / Business profit ¥168 100 million (YoY +70.7%), Segment Specialty Materials / Revenue ¥921 100 million (YoY -26.4%) / Business profit ¥58 100 million, Segment Other / Revenue ¥85 100 million (YoY -26.3%) / Business profit ¥-32 100 million
Breakdown of Factors Affecting the ChangeSubject Company-wide business profit / Year-on-year change ¥178 100 million / Factors Effects of structural reforms and improved capacity utilization in Specialty Materials, and higher sales volumes and improved spreads in Electronics & Energy, among other factors, Subject Apparel & Industries business profit / Factors Volume variance (including capacity utilization variance) ¥5 100 million, Spread differential ¥10 100 million, Foreign exchange impact ¥5 100 million, Other ¥-13 100 million, Subject Healthcare & Life Solutions business profit / Factors Volume variance ¥20 100 million, Selling price and mix differential ¥-5 100 million, Other ¥0 100 million, Pharmaceuticals ¥-14 100 million, Subject Electronics & Energy business profit / Factors Volume variance (including capacity utilization variance) ¥15 100 million, Spread differential ¥30 100 million, Foreign exchange impact ¥25 100 million, Other ¥0 100 million, Subject Specialty Materials business profit / Factors Volume variance (including capacity utilization variance) ¥80 100 million, Spread differential ¥-20 100 million, Foreign exchange impact ¥15 100 million, Other ¥65 100 million, TAT North America exclusion impact ¥-20 100 million
Key KPIsIndicator name ROIC / Value 6.4 % / Year on year against the same period last year 3.8 %, Indicator name EBITDA / Value ¥559 100 million / Year on year against the same period last year ¥25.9 100 million, Indicator name Free cash flow / Value ¥651 100 million / Year on year against the same period last year ¥574 100 million, Indicator name D/E ratio (after capital adjustments) / Value 0.58 times / Year on year against the same period last year -0.2 times
Unit price and quantity metricsIndicator name Number of CPAP rental units / Value Increased / Year on year against the same period last year Increased, Indicator name Sales volume of orphan drugs / Value Increased / Year on year against the same period last year Increased, Indicator name Sales volume / Value Steady / Year on year against the same period last year Steady
Assumptions Underlying the Business OutlookItem Full-year average exchange rate (yen/US dollar) / Value 157, Item Full-year average exchange rate (yen/euro) / Value 183, Item Crude oil (Dubai) price (US dollars/barrel) / Value 95, Item European natural gas price (euros/MWh) / Value 55
Medium-term management plan targetsROIC Target fiscal year FY2028 / Target value 5 % / ROIC by segment Apparel & Industrial Materials 8 % / Healthcare & Life Solutions 12 % / Electronics & Energy 16 % / Specialty Materials 6 %
Financial targetsROE Value 13 % / ROIC Value 4 % / D/E ratio (after capital adjustments) Value 0.6 times / Equity ratio attributable to owners of the parent Value 42 %
Annual DividendAnnual ¥50 /share / Interim ¥25 /share / End of period ¥25 /share
Capital expenditures¥650 100 million (full-year outlook)
Market Size / SharePotential sleep apnea patient population in Japan More than 9 million people
New initiativesCompleted the management integration of Teijin Frontier and Asahi Kasei Advance and launched operations as TA Frontier, Continue to narrow the focus of the pharmaceutical business, Advance cost structure reforms
Items this document does not state (10)
Ordinary incomeGross Profit MarginOperating profit marginNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioAcquisition of treasury sharesOrders received and order backlogKey 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.

The increase in first-half business profit was driven by the effects of structural reforms and improved capacity utilization in Specialty Materials, as well as higher sales volumes and improved spreads in Electronics & Energy. The upward revision to the full-year outlook primarily reflects robust sales in Electronics & Energy and the impact of foreign exchange movements.

How to read this page

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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Fiscal 2026 Second-Quarter Results and Fiscal 2026 Earnings Outlook | TEIJIN LIMITED (3401) timely disclosure | Komori