Worth reading
70In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
45
¥100 million (increase from the previous full-year revenue forecast)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentation materialsSecond quarter (first half) of the fiscal year ending March 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥34,586 million+22.2%
Operating profit¥8,206 million+25.9%
Ordinary income¥8,364 million+23.8%
Net income¥5,509 million+24.4%
Operating profit margin23.7
Full-year earnings forecast
Net Sales
¥73,000 million
Operating profit
¥17,600 million
Ordinary income
¥17,800 million
Net income
¥11,700 million
EPS
¥196.72
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。
Net Sales47.4
Thermal spraying (non-consolidated)48.3
Semiconductors and FPD46.8
Industrial machinery49.9
Steel48.4
Other (thermal spray processing only)56.1
Other surface treatment51
Domestic Subsidiary48.4
Overseas Subsidiaries43
Royalties received, etc.45.9
Operating profit46.6
Ordinary income47
Net income47.1
EPS47.1
Capital expenditures43.5
R&D expenses47.1
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Increase in revenue
¥3,667 million
Increase in variable cost ratio
¥-27 million
Higher personnel expenses
¥-1,356 million
Increase in Depreciation Expense
¥-209 million
Foreign exchange impact
¥387 million
Other
¥-854 million
New initiatives
- Construction of new buildings and installation of production equipment at the Tokyo No. 2 Plant and the Kitakyushu Plant
- Construction of a new building at Terada Kosakusho
- Expansion of production capacity at Nippon Coating Center
- Construction of a new plant at TOCALO USA-Arizona
Key KPIsA metric the company considers important as a management benchmark.
- Orders received¥39,092 millionYear on year against the same period last year+39.1%
- First-half revenue in the semiconductor and FPD businesses¥17,122 millionYear on year against the same period last year+42.8%
- Equity ratio71.4 %Year on year against the same period last year-3.4%
Segment results
Thermal spraying (non-consolidated)
Net Sales
¥25,691 million
Revenue_yoy_pct28.7
Segment profit
¥7,230 million
Profit_yoy_pct73.5
Domestic Subsidiary
Net Sales
¥1,555 million
Revenue_yoy_pct10.4
Segment profit
¥192 million
Profit_yoy_pct24.5
Overseas Subsidiaries
Net Sales
¥5,915 million
Revenue_yoy_pct4.7
Segment profit
¥1,991 million
Profit_yoy_pct-14.6
Other surface treatment
Net Sales
¥1,345 million
Revenue_yoy_pct9.5
Segment profit
¥238 million
Profit_yoy_pct62.4
Financial targets
ROE
Actuals / forecasts16.7 %
DOE
Target value5 %
Actuals / forecasts8.4 %
ROIC
Forecast value14 %
Orders received and order backlog
Orders received
¥39,092 million
Order backlog
End of the fiscal year ended March 2026¥14,843 million
Capital expenditures
¥10,000 million
Annual Dividend
Annual
¥99
Interim
¥47
End of period
¥52
Payout ratio
50.3 %
DOE
8.4 %
Acquisition of treasury shares
To be implemented flexibly while taking into account the business environment and financial condition, among other factors| Item | Details |
|---|---|
| Document type | Earnings presentation materials |
| Fiscal Period Covered | Second quarter (first half) of the fiscal year ending March 2027 |
| Net Sales | ¥34,586 million (YoY +22.2%) |
| Operating profit | ¥8,206 million (YoY +25.9%) |
| Ordinary income | ¥8,364 million (YoY +23.8%) |
| Net income | ¥5,509 million (YoY +24.4%) |
| Operating profit margin | 23.7 |
| Full-year earnings forecast | Net Sales ¥73,000 million / Operating profit ¥17,600 million / Ordinary income ¥17,800 million / Net income ¥11,700 million / EPS ¥196.72 |
| Progress against full-year forecast | Net Sales 47.4 / Thermal spraying (non-consolidated) 48.3 / Semiconductors and FPD 46.8 / Industrial machinery 49.9 / Steel 48.4 / Other (thermal spray processing only) 56.1 / Other surface treatment 51 / Domestic Subsidiary 48.4 / Overseas Subsidiaries 43 / Royalties received, etc. 45.9 / Operating profit 46.6 / Ordinary income 47 / Net income 47.1 / EPS 47.1 / Capital expenditures 43.5 / R&D expenses 47.1 |
| Segment results | Thermal spraying (non-consolidated) Net Sales ¥25,691 million / Revenue_yoy_pct 28.7 / Segment profit ¥7,230 million / Profit_yoy_pct 73.5 / Domestic Subsidiary Net Sales ¥1,555 million / Revenue_yoy_pct 10.4 / Segment profit ¥192 million / Profit_yoy_pct 24.5 / Overseas Subsidiaries Net Sales ¥5,915 million / Revenue_yoy_pct 4.7 / Segment profit ¥1,991 million / Profit_yoy_pct -14.6 / Other surface treatment Net Sales ¥1,345 million / Revenue_yoy_pct 9.5 / Segment profit ¥238 million / Profit_yoy_pct 62.4 |
| Breakdown of Factors Affecting the Change | Increase in revenue ¥3,667 million / Increase in variable cost ratio ¥-27 million / Higher personnel expenses ¥-1,356 million / Increase in Depreciation Expense ¥-209 million / Foreign exchange impact ¥387 million / Other ¥-854 million |
| Key KPIs | Indicator name Orders received / Value ¥39,092 million / Year on year against the same period last year ¥39.1 million, Indicator name First-half revenue in the semiconductor and FPD businesses / Value ¥17,122 million / Year on year against the same period last year ¥42.8 million, Indicator name Equity ratio / Value 71.4 % / Year on year against the same period last year -3.4 % |
| Financial targets | ROE Target value Not disclosed / Actuals / forecasts 16.7 % / DOE Target value 5 % / Actuals / forecasts 8.4 % / ROIC Forecast value 14 % |
| Annual Dividend | Annual ¥99 / Interim ¥47 / End of period ¥52 |
| Payout ratio | 50.3 % |
| Acquisition of treasury shares | To be implemented flexibly while taking into account the business environment and financial condition, among other factors |
| Capital expenditures | ¥10,000 million |
| Orders received and order backlog | Orders received ¥39,092 million / Order backlog ¥14,843 million |
| New initiatives | Construction of new buildings and installation of production equipment at the Tokyo No. 2 Plant and the Kitakyushu Plant, Construction of a new building at Terada Kosakusho, Expansion of production capacity at Nippon Coating Center, Construction of a new plant at TOCALO USA-Arizona |
Items this document does not state (12)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsMarket 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 in the semiconductor and FPD and industrial machinery businesses, among others, drove profit growth. The upward revision to the full-year forecasts was mainly attributable to growth in the semiconductor business.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.