Komori
Earnings presentation4004Resonac Holdings CorporationMaterials and Chemicals

Financial Results Presentation for the First Quarter of the Fiscal Year Ending December 2026

In the first quarter of the fiscal year ending December 2026, revenue declined, while core operating profit increased significantly, driven by higher sales volumes of semiconductors and electronic materials. The first-half earnings forecast was revised upward, while the full-year forecast was left unchanged.

Worth reading
71In focus
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
188
¥100 million (year-on-year increase in core operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFirst quarter of the fiscal year ending December 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥3,079 hundred million-4.0%
Operating profit¥221 100 million +58.6%IFRS operating profit
Ordinary income¥226 100 million +80.8%profit before tax for the quarter
Net income¥153 100 million +73.9%profit for the quarter attributable to owners of the parent
Results for the three months of the current quarterFor the consolidated results for January–March 2026: revenue of ¥307.9 billion, core operating profit of ¥33.6 billion, IFRS operating profit of ¥22.1 billion, profit before tax for the quarter of ¥22.6 billion, profit for the quarter attributable to owners of the parent of ¥15.3 billion, EBITDA of ¥56.1 billion, and an EBITDA margin of 18.2%.
Full-year earnings forecast
Revenue¥1.31 trillion
Core operating profit¥140 billion
IFRS operating profit¥105 billion
Pretax profit¥103.0 billion
Profit for the period¥79.0 billion
Profit for the period attributable to owners of the parent¥77.0 billion
EBITDA¥235.8 billion
EBITDA margin18.0%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress toward the full-year earnings forecast is on track
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year-on-year change in core operating profitSales volume variance: ¥11.1 billion; sales price variance: -¥5.8 billion; cost variance: ¥5.8 billion; foreign exchange variance: ¥1.2 billion; other variance: ¥6.5 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Exchange rate¥156.4/US$ and ¥183.7/€ (average rates for the first half of 2026)
Domestic naphtha¥66,000/KL (forecast for the first half of 2026)
New initiatives
  • Preparation for amendments to the articles of incorporation, a listing application, and an application for tax-qualified treatment in connection with Kurasasu Chemical's partial spin-off planned for 2026
  • Full-scale launch of US-JOINT, a consortium for next-generation semiconductor packaging development
  • Expansion of hard disk media production capacity to meet storage demand
  • Revision of chloroprene rubber selling prices
Key KPIsA metric the company considers important as a management benchmark.
  • EBITDA¥56.1 billion
    Year on year against the same period last yearUp ¥17.6 billion year on year
  • EBITDA margin18.2%
    Year on year against the same period last yearUp 6.2 percentage points
  • Net debt-to-equity ratio0.79 times
    Year on year against the same period last yearDown 0.05 points (from the end of December 2025)
  • Revenue from back-end semiconductor materials¥70.9 billion
    Year on year against the same period last yearUp 38%
  • Revenue from front-end semiconductor materials¥21.8 billion
    Year on year against the same period last yearUp 8%
  • Device solutions revenue¥29.0 billion
    Year on year against the same period last yearDown 1%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
The company disclosed sales volume and sales price variances as drivers. Specific unit price and volume KPIs, such as customer numbers and average spend per customer, were not disclosed.
Segment results
Semiconductors and electronic materials
Revenue¥134.7 billion (up 21% year on year)
Core operating profit¥34.0 billion (up 74%)
Mobility
Revenue¥47.3 billion (up 1%)
Core operating profit¥2.9 billion (up 159%)
Innovation Materials
Revenue¥22.7 billion (up 3%)
Core operating profit¥2.4 billion (up 14%)
Chemicals
Revenue¥40.8 billion (up 8%)
Core operating profit-¥1.6 billion (¥4.7 billion improvement year on year)
Kurasasu Chemical (petrochemicals business)
Revenue¥51.7 billion (down 34%)
Core operating profit-¥0.5 billion (down ¥1.4 billion)
Other and adjustments
Revenue¥10.6 billion (down 57%)
Core operating profit-¥3.6 billion (down ¥1.1 billion)
Financial targets
Actual net debt-to-equity ratio: 0.79x (at the end of March 2026). Target not disclosed.
Capital expenditures
¥280 100 million January–March 2026, consolidated total
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending December 2026
Net Sales¥3,079 hundred million (YoY -4.0%)
Operating profit¥221 100 million (IFRS operating profit) (YoY +58.6%)
Ordinary income¥226 100 million (profit before tax for the quarter) (YoY +80.8%)
Net income¥153 100 million (profit for the quarter attributable to owners of the parent) (YoY +73.9%)
Results for the three months of the current quarterFor the consolidated results for January–March 2026: revenue of ¥307.9 billion, core operating profit of ¥33.6 billion, IFRS operating profit of ¥22.1 billion, profit before tax for the quarter of ¥22.6 billion, profit for the quarter attributable to owners of the parent of ¥15.3 billion, EBITDA of ¥56.1 billion, and an EBITDA margin of 18.2%.
Full-year earnings forecastRevenue ¥1.31 trillion / Core operating profit ¥140 billion / IFRS operating profit ¥105 billion / Pretax profit ¥103.0 billion / Profit for the period ¥79.0 billion / Profit for the period attributable to owners of the parent ¥77.0 billion / EBITDA ¥235.8 billion / EBITDA margin 18.0%
Self-assessment against the planProgress toward the full-year earnings forecast is on track
Segment resultsSemiconductors and electronic materials Revenue ¥134.7 billion (up 21% year on year) / Core operating profit ¥34.0 billion (up 74%) / Mobility Revenue ¥47.3 billion (up 1%) / Core operating profit ¥2.9 billion (up 159%) / Innovation Materials Revenue ¥22.7 billion (up 3%) / Core operating profit ¥2.4 billion (up 14%) / Chemicals Revenue ¥40.8 billion (up 8%) / Core operating profit -¥1.6 billion (¥4.7 billion improvement year on year) / Kurasasu Chemical (petrochemicals business) Revenue ¥51.7 billion (down 34%) / Core operating profit -¥0.5 billion (down ¥1.4 billion) / Other and adjustments Revenue ¥10.6 billion (down 57%) / Core operating profit -¥3.6 billion (down ¥1.1 billion)
Breakdown of Factors Affecting the ChangeYear-on-year change in core operating profit Sales volume variance: ¥11.1 billion; sales price variance: -¥5.8 billion; cost variance: ¥5.8 billion; foreign exchange variance: ¥1.2 billion; other variance: ¥6.5 billion
Key KPIsIndicator name EBITDA / Value ¥56.1 billion / Year on year against the same period last year Up ¥17.6 billion year on year, Indicator name EBITDA margin / Value 18.2% / Year on year against the same period last year Up 6.2 percentage points, Indicator name Net debt-to-equity ratio / Value 0.79 times / Year on year against the same period last year Down 0.05 points (from the end of December 2025), Indicator name Revenue from back-end semiconductor materials / Value ¥70.9 billion / Year on year against the same period last year Up 38%, Indicator name Revenue from front-end semiconductor materials / Value ¥21.8 billion / Year on year against the same period last year Up 8%, Indicator name Device solutions revenue / Value ¥29.0 billion / Year on year against the same period last year Down 1%
Unit price and quantity metricsThe company disclosed sales volume and sales price variances as drivers. Specific unit price and volume KPIs, such as customer numbers and average spend per customer, were not disclosed.
Assumptions Underlying the Business OutlookExchange rate ¥156.4/US$ and ¥183.7/€ (average rates for the first half of 2026) / Domestic naphtha ¥66,000/KL (forecast for the first half of 2026)
Financial targetsActual net debt-to-equity ratio: 0.79x (at the end of March 2026). Target not disclosed.
Capital expenditures¥280 100 million (January–March 2026, consolidated total)
New initiativesPreparation for amendments to the articles of incorporation, a listing application, and an application for tax-qualified treatment in connection with Kurasasu Chemical's partial spin-off planned for 2026, Full-scale launch of US-JOINT, a consortium for next-generation semiconductor packaging development, Expansion of hard disk media production capacity to meet storage demand, Revision of chloroprene rubber selling prices
Items this document does not state (14)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendPayout 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 volumes, mainly of back-end semiconductor and electronic materials, the recovery in mobility demand, the recovery in graphite sales volumes in Chemicals, and the effects of structural reforms contributed to the increase in profit. Meanwhile, Kurasasu Chemical was affected by a large-scale scheduled maintenance shutdown conducted once every four years, while non-recurring items were affected by one-time costs associated with the revision of the retirement benefit plan.

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Financial Results Presentation for the First Quarter of the Fiscal Year Ending December 2026 | Resonac Holdings Corporation (4004) timely disclosure | Komori