Overview of Results for the Fiscal Year Ended March 2026 and Outlook for the Fiscal Year Ending March 2027 | TORAY INDUSTRIES,INC. (3402) timely disclosure

Worth reading

84Important

Scored from 5 of 6 sections

Direction

Mixed performance

Direction inferred from the company’s description.

Scale

181

Hundreds of millions of yen

Wording

Conditional

How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFY2026 results and FY2027 full-year outlook11 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales25,851 Hundreds of millions of yen+0.9%

Ordinary income¥1,076 100 million -5.9%profit before tax

Net income¥795 100 million +2.1%profit for the year attributable to owners of the parent

Operating profit margin5.5 % business profit margin

Results for the three months of the current quarter

Revenue

¥6,656 100 million FY2026 fourth quarter

Business profit

¥368 100 million FY2026 fourth quarter

Full-year earnings forecast

Revenue

28,300 Hundreds of millions of yen

Business profit

1,600 Hundreds of millions of yen

Profit for the period attributable to owners of the parent

900 Hundreds of millions of yen

Basic earnings per share

¥61.82

Dividend per share

¥26

What the company explained in this material

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Consolidated business profit

Volume variance258

Strategic pricing134

Price difference-156

Cost variance and other factors-235

Foreign exchange translation differences at overseas subsidiaries-9

Other-12

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Exchange rate¥150/US$

Global EconomyA period of gradual recovery is expected to continue (no numerical figure)

Domestic EconomyA gradual recovery is expected to continue (no numerical figure)

New initiatives

Improving the profitability of specific businesses and companies through the Darwin Project
Strategic pricing
Profit improvement project
Total cost reduction initiatives, including cost management and yield improvement at overseas affiliates

Key KPIsA metric the company considers important as a management benchmark.

ROIC4.7 %
Year on year against the same period last yearUp 0.3 percentage points year on year
ROE4.5 %
Year on year against the same period last yearUnchanged year on year
Revenue from sustainability innovation businesses13,865 Hundreds of millions of yen
Year on year against the same period last yearIncreased from FY2024
Cumulative cost reductions over 3 years2,166 Hundreds of millions of yen
AP-G 2025 business profit margin5.5 %
Year on year against the same period last yearDown from 5.6% in FY2024

Segment results

Fibers

Revenue

10,511 Hundreds of millions of yen

Revenue_yoy_pct4

Business profit

680 Hundreds of millions of yen

Business profit_yoy_pct6

Performance chemicals

Revenue

8,944 Hundreds of millions of yen

Revenue_yoy_pct-5.3

Business profit

563 Hundreds of millions of yen

Business profit_yoy_pct-6.2

Carbon fiber composite materials

Revenue

3,001 Hundreds of millions of yen

Revenue_yoy_pct0

Business profit

176 Hundreds of millions of yen

Business profit_yoy_pct-21.7

Environment & Engineering

Revenue

2,669 Hundreds of millions of yen

Revenue_yoy_pct12.8

Business profit

288 Hundreds of millions of yen

Business profit_yoy_pct11.2

Life Science

Revenue

524 Hundreds of millions of yen

Revenue_yoy_pct-1.4

Business profit

-1 Hundreds of millions of yen

Business profit_yoy_pctImproved (up ¥0.7 billion year on year)

Other

Revenue

202 Hundreds of millions of yen

Revenue_yoy_pct14

Business profit

25 Hundreds of millions of yen

Business profit_yoy_pct1.1

Medium-term management plan targets

AP-G 2025

Revenue

Target28,000 Hundreds of millions of yen

Target fiscal yearFY2025

Business profit

Target1,800 Hundreds of millions of yen

Target fiscal yearFY2025

Business profit margin

Target6 %

Target fiscal yearFY2025

ROIC

TargetApproximately 5%

Target fiscal yearFY2025

ROE

TargetApproximately 8%

Target fiscal yearFY2025

Debt-to-equity ratio

Target0.7 or lower

Target fiscal yearFY2025

Financial targets

ROIC

TargetApproximately 5%

Actual results4.7 %

ROE

TargetApproximately 8%

Actual results4.5 %

Debt-to-equity ratio

Target0.7 or lower

Actual results0.5

Equity ratio

Actual results51.8 %

Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.

130 Hundreds of millions of yen

DetailsImpact of the situation in the Middle East

Capital expenditures

¥1,600 100 million FY2027 outlook

Annual Dividend

Annual dividend per share

20 Yen planned for FY2026

Planned for the fiscal year ending March 2027

Annual

¥26

Interim

13 Yen including a ¥3 commemorative dividend marking the company’s 100th anniversary

End of period

¥13

Payout ratio

42 % FY2027 outlook

Contents of this document
Item	Details
Document type	Presentation materials for financial results
Fiscal Period Covered	FY2026 results and FY2027 full-year outlook
Net Sales	25,851 Hundreds of millions of yen (YoY +0.9%)
Ordinary income	¥1,076 100 million (profit before tax) (YoY -5.9%)
Net income	¥795 100 million (profit for the year attributable to owners of the parent) (YoY +2.1%)
Operating profit margin	5.5 % (business profit margin)
Results for the three months of the current quarter	Revenue ¥6,656 100 million (FY2026 fourth quarter) / Business profit ¥368 100 million (FY2026 fourth quarter)
Full-year earnings forecast	Revenue 28,300 Hundreds of millions of yen / Business profit 1,600 Hundreds of millions of yen / Profit for the period attributable to owners of the parent 900 Hundreds of millions of yen / Basic earnings per share ¥61.82 / Dividend per share ¥26
Segment results	Fibers Revenue 10,511 Hundreds of millions of yen / Revenue_yoy_pct 4 / Business profit 680 Hundreds of millions of yen / Business profit_yoy_pct 6 / Performance chemicals Revenue 8,944 Hundreds of millions of yen / Revenue_yoy_pct -5.3 / Business profit 563 Hundreds of millions of yen / Business profit_yoy_pct -6.2 / Carbon fiber composite materials Revenue 3,001 Hundreds of millions of yen / Revenue_yoy_pct 0 / Business profit 176 Hundreds of millions of yen / Business profit_yoy_pct -21.7 / Environment & Engineering Revenue 2,669 Hundreds of millions of yen / Revenue_yoy_pct 12.8 / Business profit 288 Hundreds of millions of yen / Business profit_yoy_pct 11.2 / Life Science Revenue 524 Hundreds of millions of yen / Revenue_yoy_pct -1.4 / Business profit -1 Hundreds of millions of yen / Business profit_yoy_pct Improved (up ¥0.7 billion year on year) / Other Revenue 202 Hundreds of millions of yen / Revenue_yoy_pct 14 / Business profit 25 Hundreds of millions of yen / Business profit_yoy_pct 1.1
Breakdown of Factors Affecting the Change	Consolidated business profit Volume variance 258 / Strategic pricing 134 / Price difference -156 / Cost variance and other factors -235 / Foreign exchange translation differences at overseas subsidiaries -9 / Other -12
Key KPIs	Indicator name ROIC / Value 4.7 % / Year on year against the same period last year Up 0.3 percentage points year on year, Indicator name ROE / Value 4.5 % / Year on year against the same period last year Unchanged year on year, Indicator name Revenue from sustainability innovation businesses / Value 13,865 Hundreds of millions of yen / Year on year against the same period last year Increased from FY2024, Indicator name Cumulative cost reductions over 3 years / Value 2,166 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator name AP-G 2025 business profit margin / Value 5.5 % / Year on year against the same period last year Down from 5.6% in FY2024
Assumptions Underlying the Business Outlook	Exchange rate ¥150/US$ / Global Economy A period of gradual recovery is expected to continue (no numerical figure) / Domestic Economy A gradual recovery is expected to continue (no numerical figure)
Risk amount incorporated into the outlook	Amount 130 Hundreds of millions of yen / Details Impact of the situation in the Middle East
Medium-term management plan targets	AP-G 2025 Revenue Target 28,000 Hundreds of millions of yen / Target fiscal year FY2025 / Business profit Target 1,800 Hundreds of millions of yen / Target fiscal year FY2025 / Business profit margin Target 6 % / Target fiscal year FY2025 / ROIC Target Approximately 5% / Target fiscal year FY2025 / ROE Target Approximately 8% / Target fiscal year FY2025 / Debt-to-equity ratio Target 0.7 or lower / Target fiscal year FY2025
Financial targets	ROIC Target Approximately 5% / Actual results 4.7 % / ROE Target Approximately 8% / Actual results 4.5 % / Debt-to-equity ratio Target 0.7 or lower / Actual results 0.5 / Equity ratio Actual results 51.8 %
Annual Dividend	Annual dividend per share 20 Yen (planned for FY2026) / Planned for the fiscal year ending March 2027 Annual ¥26 / Interim 13 Yen (including a ¥3 commemorative dividend marking the company’s 100th anniversary) / End of period ¥13
Payout ratio	42 % (FY2027 outlook)
Capital expenditures	¥1,600 100 million (FY2027 outlook)
New initiatives	Improving the profitability of specific businesses and companies through the Darwin Project, Strategic pricing, Profit improvement project, Total cost reduction initiatives, including cost management and yield improvement at overseas affiliates

Items this document does not state (12)

Operating profitGross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAcquisition 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.

In FY2026, weak market conditions for functional chemicals, sluggish sales of battery separator films, and demand adjustments in industrial applications for carbon fiber composite materials weighed on profit. Textiles and Environment & Engineering, however, remained solid. For FY2027, the company expects demand to expand in growth areas, strategic pricing and earnings improvement projects to take effect, while incorporating the impact of the situation in the Middle East.

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