Worth reading
52Recurring
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
3779
¥ millionWording
Avoiding a definitive answer
How definitive the wording is.Results for this period
First quarter1 January 2026–31 March 2026ConsolidatedJapanese GAAPNet Sales200,913¥ millionYear on year +3.1%Progress 23.6%
Operating profit14,870¥ millionYear on year -20.3%Progress 21.2%
Ordinary income13,745¥ millionYear on year -22.9%Progress 21.5%
Net income attributable to owners of the parent7,802¥ millionYear on year -35.0%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥25.62
Financial position at period-end
Total assets1,316,053¥ million
of which net assets 752,904 ¥ millionEquity ratio 56.2%vs. prior year-end -0.8pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Segment revenueVinyl Acetate ¥101,930 million (YoY +1.5%), Isoprene ¥21,527 million (YoY +9.3%), Functional Materials ¥52,820 million (YoY +10.5%), Fibers ¥13,950 million (YoY +4.0%), Trading ¥17,789 million (YoY +6.8%), Other ¥7,167 million (YoY -34.3%)
Segment profitVinyl Acetate ¥11,031 million (YoY -30.7%), Isoprene ¥2,889 million (YoY +2.4%), Functional Materials ¥3,375 million (YoY +148.2%), Fibers ¥1,143 million, Trading ¥1,564 million (YoY +13.5%), Other ¥397 million (YoY -49.2%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥850,000 million (YoY +5.1%)
Operating profit¥70,000 million (YoY +18.9%)
Ordinary income¥64,000 million (YoY +24.2%)
Profit attributable to owners of the parent¥40,000 million (YoY +435.6%)
Revision to Earnings ForecastNo revision
Annual Dividend Forecast¥54 → ¥64（+18.5%）
Shareholder Return PolicyThe Company aims for total shareholder return of at least 50% of net income attributable to owners of the parent, to maintain or increase dividends per share, and to continue acquiring treasury shares.
Factors Behind Changes in Business Performance
Vinyl Acetate recorded lower profit due to the effects of lower operating rates and price adjustments in some businesses. Isoprene was affected by negative inventory valuation differences. Functional Materials recorded higher profit, supported by firm sales and the positive effect of foreign exchange movements. Fibers benefited from a recovery in demand, while Trading posted higher profit on expanded sales. Other recorded lower sales and lower profit.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 2 / Company name 可楽麗亜克力（張家港）有限公司, WATERLINK (UK) HOLDINGS LIMITED / Excluded Number of companies 3 / Company name 1 other company
Material subsequent eventsAt a meeting of the Board of Directors held on 13 May 2026, the Company decided to cancel 5,830 thousand treasury shares, equivalent to 1.89% of the total number of issued shares before the cancellation. The cancellation is scheduled to take place on 29 May 2026.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities ¥1,176 million / Extraordinary loss Disaster Losses ¥1,814 million, Costs related to suspension of operations ¥865 million, Loss on disposal of fixed assets ¥490 million
Depreciation and amortization¥19,819 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person For securities analysts and institutional investors
Issued Shares at Period-End307,963,603
Treasury Shares at Period-End6,753,844
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026–31 March 2026 |
| Net Sales | ¥200,913 million (YoY +3.1%) |
| Operating profit | ¥14,870 million (YoY -20.3%) |
| Ordinary income | ¥13,745 million (YoY -22.9%) |
| Profit attributable to owners of the parent | ¥7,802 million (YoY -35.0%) |
| Net income per share | ¥25.62 |
| Equity ratio | End of the current fiscal period 56.2 / End of previous period 57 |
| Total assets | ¥1,316,053 million |
| Net assets | ¥752,904 million |
| Full-year earnings forecast | Net Sales ¥850,000 million (YoY +5.1%) / Operating profit ¥70,000 million (YoY +18.9%) / Ordinary income ¥64,000 million (YoY +24.2%) / Profit attributable to owners of the parent ¥40,000 million (YoY +435.6%) |
| Revision to Earnings Forecast | No revision |
| Annual Dividend Forecast | ¥54 → ¥64（+18.5%） |
| Shareholder Return Policy | The Company aims for total shareholder return of at least 50% of net income attributable to owners of the parent, to maintain or increase dividends per share, and to continue acquiring treasury shares. |
| Segment revenue | Vinyl Acetate ¥101,930 million (YoY +1.5%), Isoprene ¥21,527 million (YoY +9.3%), Functional Materials ¥52,820 million (YoY +10.5%), Fibers ¥13,950 million (YoY +4.0%), Trading ¥17,789 million (YoY +6.8%), Other ¥7,167 million (YoY -34.3%) |
| Segment profit | Vinyl Acetate ¥11,031 million (YoY -30.7%), Isoprene ¥2,889 million (YoY +2.4%), Functional Materials ¥3,375 million (YoY +148.2%), Fibers ¥1,143 million, Trading ¥1,564 million (YoY +13.5%), Other ¥397 million (YoY -49.2%) |
| Depreciation and amortization | ¥19,819 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities ¥1,176 million / Extraordinary loss Disaster Losses ¥1,814 million, Costs related to suspension of operations ¥865 million, Loss on disposal of fixed assets ¥490 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 2 / Company name 可楽麗亜克力（張家港）有限公司, WATERLINK (UK) HOLDINGS LIMITED / Excluded Number of companies 3 / Company name 1 other company |
| Material subsequent events | At a meeting of the Board of Directors held on 13 May 2026, the Company decided to cancel 5,830 thousand treasury shares, equivalent to 1.89% of the total number of issued shares before the cancellation. The cancellation is scheduled to take place on 29 May 2026. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person For securities analysts and institutional investors |
| Issued Shares at Period-End | 307,963,603 |
| Treasury Shares at Period-End | 6,753,844 |
| Factors Behind Changes in Business Performance | Vinyl Acetate recorded lower profit due to the effects of lower operating rates and price adjustments in some businesses. Isoprene was affected by negative inventory valuation differences. Functional Materials recorded higher profit, supported by firm sales and the positive effect of foreign exchange movements. Fibers benefited from a recovery in demand, while Trading posted higher profit on expanded sales. Other recorded lower sales and lower profit. |
Items this document does not state (9)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioRegional salesOrders received and order backlogImpairment loss
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.Uncertainty caused by the deterioration in the situation in the Middle East, generally sluggish demand, lower operating rates and price adjustments in some businesses, and the negative impact of inventory valuation differences, among other factors.
How to read this page
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