Worth reading
55In 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
4000
¥ million (increase in full-year operating profit forecast)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales579,677Millions of yenYear on year +16.1%Progress 48.3%
Operating profit49,392Millions of yenYear on year +10.4%Progress 45.3%
Ordinary income49,176Millions of yenYear on year +7.5%Progress 46.0%
Net income attributable to owners of the parent26,766Millions of yenYear on year +262.8%Progress 45.4%
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¥86.93
Financial position at period-end
Total assets1,497,803Millions of yen
of which net assets 945,386 Millions of yenEquity ratio 57.0%vs. prior year-end -2.0pt
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.
Cash inflows and outflows
Operating+15,381
Investment-49,287
Financials+10,509
Net change-23,397
Stacked from zero: upward is an increase in cash, downward a decrease (in Millions of yen).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period155,089 Millions of yen
Segment revenueBasic materials 261,880 Millions of yen (YoY +17.0%), Value-added materials 89,501 Millions of yen (YoY +16.2%), Bioscience 33,990 Millions of yen (YoY +5.5%), Advanced materials 71,155 Millions of yen (YoY +23.1%), Water treatment engineering 94,222 Millions of yen (YoY +14.3%), Other (non-reportable segments) 28,927 Millions of yen (YoY +11.9%)
Segment profitBasic materials -2,420 Millions of yen, Value-added materials 14,383 Millions of yen (YoY +26.9%), Bioscience 11,255 Millions of yen (YoY +8.4%), Advanced materials 7,300 Millions of yen (YoY +93.0%), Water treatment engineering 15,276 Millions of yen (YoY -13.3%), Other (non-reportable segments) 3,596 Millions of yen (YoY +34.5%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales1,200,000 Millions of yen (YoY +17.7%)
Operating profit109,000 Millions of yen (YoY +14.1%)
Ordinary income107,000 Millions of yen (YoY +0.2%)
Net income59,000 Millions of yen (YoY +41.8%)
Revision to Earnings ForecastNet Sales 1,170,000 Millions of yen → 1,200,000 Millions of yen（+2.6%） / Operating profit 105,000 Millions of yen → 109,000 Millions of yen（+3.8%） / Ordinary income 107,000 Millions of yen → 107,000 Millions of yen（0.0%） / Net income 59,000 Millions of yen → 59,000 Millions of yen（0.0%）
Annual Dividend Forecast100 Yen → 100 Yen（0.0%）
Factors Behind Changes in Business Performance
Sales increased due to higher overseas market prices for naphtha and major products, higher selling prices resulting from the weaker yen, and increased shipments of high-performance materials. Operating income increased despite a deterioration in terms of trade due to higher raw material and fuel prices, owing to an improvement in the inventory receipt-and-issue variance and increased shipments of high-performance materials. The factors behind the overall increase in sales were a quantity variance of ¥17.8 billion and a price variance of ¥62.7 billion. The factors behind the increase in operating income were a quantity variance of ¥2.8 billion, a terms-of-trade variance of negative ¥6.5 billion, and a fixed-cost and other variance of ¥8.3 billion.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 None
Changes in the scope of consolidationNew 0 / Excluded 0 / Company name None
Material subsequent eventsAt a meeting of the Board of Directors held on 5 November 2026, the Company resolved to repurchase up to 12,000,000 common shares or ¥25 billion, for the purpose of enhancing shareholder returns and improving capital efficiency. The repurchase period is from 6 November 2026 to 31 March 2027.
Impairment loss21 Millions of yen
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of property, plant and equipment 32 Millions of yen, Gain on sale of investment securities 1,332 Millions of yen / Extraordinary loss Loss on sale of property, plant and equipment 1 Millions of yen, Loss on disposal of property, plant and equipment 2,114 Millions of yen, Impairment loss 21 Millions of yen
Depreciation and amortization25,812 Millions of yen
Availability of Supplementary Financial Results MaterialsAvailable
Availability of Financial Results BriefingWhether applicable Available / Subject person Institutional investors and analysts
Issued Shares at Period-End325,080,956
Treasury Shares at Period-End17,089,257
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 September 2026 |
| Net Sales | 579,677 Millions of yen (YoY +16.1%) |
| Operating profit | 49,392 Millions of yen (YoY +10.4%) |
| Ordinary income | 49,176 Millions of yen (YoY +7.5%) |
| Profit attributable to owners of the parent | 26,766 Millions of yen (YoY +262.8%) |
| Net income per share | ¥86.93 |
| Equity ratio | End of the current fiscal period 57 / End of previous period 59 |
| Total assets | 1,497,803 Millions of yen |
| Net assets | 945,386 Millions of yen |
| Cash flows from operating activities | 15,381 Millions of yen |
| Cash flows from investing activities | -49,287 Millions of yen |
| Cash flows from financing activities | 10,509 Millions of yen |
| Cash and cash equivalents at end of period | 155,089 Millions of yen |
| Full-year earnings forecast | Net Sales 1,200,000 Millions of yen (YoY +17.7%) / Operating profit 109,000 Millions of yen (YoY +14.1%) / Ordinary income 107,000 Millions of yen (YoY +0.2%) / Net income 59,000 Millions of yen (YoY +41.8%) |
| Revision to Earnings Forecast | Net Sales 1,170,000 Millions of yen → 1,200,000 Millions of yen（+2.6%） / Operating profit 105,000 Millions of yen → 109,000 Millions of yen（+3.8%） / Ordinary income 107,000 Millions of yen → 107,000 Millions of yen（0.0%） / Net income 59,000 Millions of yen → 59,000 Millions of yen（0.0%） |
| Annual Dividend Forecast | 100 Yen → 100 Yen（0.0%） |
| Segment revenue | Basic materials 261,880 Millions of yen (YoY +17.0%), Value-added materials 89,501 Millions of yen (YoY +16.2%), Bioscience 33,990 Millions of yen (YoY +5.5%), Advanced materials 71,155 Millions of yen (YoY +23.1%), Water treatment engineering 94,222 Millions of yen (YoY +14.3%), Other (non-reportable segments) 28,927 Millions of yen (YoY +11.9%) |
| Segment profit | Basic materials -2,420 Millions of yen, Value-added materials 14,383 Millions of yen (YoY +26.9%), Bioscience 11,255 Millions of yen (YoY +8.4%), Advanced materials 7,300 Millions of yen (YoY +93.0%), Water treatment engineering 15,276 Millions of yen (YoY -13.3%), Other (non-reportable segments) 3,596 Millions of yen (YoY +34.5%) |
| Depreciation and amortization | 25,812 Millions of yen |
| Impairment loss | 21 Millions of yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of property, plant and equipment 32 Millions of yen, Gain on sale of investment securities 1,332 Millions of yen / Extraordinary loss Loss on sale of property, plant and equipment 1 Millions of yen, Loss on disposal of property, plant and equipment 2,114 Millions of yen, Impairment loss 21 Millions of yen |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement None |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Company name None |
| Material subsequent events | At a meeting of the Board of Directors held on 5 November 2026, the Company resolved to repurchase up to 12,000,000 common shares or ¥25 billion, for the purpose of enhancing shareholder returns and improving capital efficiency. The repurchase period is from 6 November 2026 to 31 March 2027. |
| Availability of Supplementary Financial Results Materials | Available |
| Availability of Financial Results Briefing | Whether applicable Available / Subject person Institutional investors and analysts |
| Issued Shares at Period-End | 325,080,956 |
| Treasury Shares at Period-End | 17,089,257 |
| Factors Behind Changes in Business Performance | Sales increased due to higher overseas market prices for naphtha and major products, higher selling prices resulting from the weaker yen, and increased shipments of high-performance materials. Operating income increased despite a deterioration in terms of trade due to higher raw material and fuel prices, owing to an improvement in the inventory receipt-and-issue variance and increased shipments of high-performance materials. The factors behind the overall increase in sales were a quantity variance of ¥17.8 billion and a price variance of ¥62.7 billion. The factors behind the increase in operating income were a quantity variance of ¥2.8 billion, a terms-of-trade variance of negative ¥6.5 billion, and a fixed-cost and other variance of ¥8.3 billion. |
Items this document does not state (5)
Operating MarginPayout ratioShareholder Return PolicyRegional salesOrders received and order backlog
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 overseas market prices for naphtha and major products amid heightened tensions in the Middle East, higher selling prices resulting from the weaker yen, and increased shipments of high-performance materials pushed up sales. Operating income increased despite a deterioration in terms of trade due to higher raw material and fuel prices, owing to an improvement in the inventory receipt-and-issue variance and increased shipments of high-performance materials. The full-year forecast was revised based on recent performance trends.
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