Worth reading
80Important
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
19739
¥ million (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings summaryFiscal year ending December 2026, third quarter12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥72,212 million+37.6%
Operating profit¥15,709 million+89.8%
Ordinary income¥15,514 million+82.3%
Net income¥10,704 million+77.7%
Operating profit margin21.8% (cumulative third quarter; year-on-year change in percentage points: Not disclosed)
Results for the three months of the current quarterSales of ¥26.37 billion and operating profit of ¥6.27 billion. Year on year, sales increased 44.1% and operating profit increased 107.5%.
Full-year earnings forecast
Net Sales
¥99,000 million
Operating profit
¥22,000 million
Ordinary income
¥22,000 million
Profit attributable to owners of the parent
¥16,500 million
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 Sales77% (Chemicals: 79%; Building Materials: 71%)
Operating profit87% (Chemicals: 87%; Building Materials: 56%)
Ordinary income84%
Profit attributable to owners of the parent85%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The Chemicals business is ahead of plan, while the Building Materials business is behind plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Earnings growth accompanying higher net sales in the Chemicals BusinessShown in a chart; individual amount: 非開示
- Higher gross margin in the Chemicals BusinessShown in a chart; individual amount: 非開示
- Earnings growth accompanying higher net sales in the Building Materials BusinessShown in a chart; individual amount: 非開示
- Higher gross margin in the Building Materials BusinessShown in a chart; individual amount: 非開示
- Higher profit due to exchange-rate movementsApproximately ¥1.63 billion
- Higher raw material prices due to surging aluminum ingot pricesApproximately +¥566 million
- Human capital investment (wage increases, training and education, etc.)Approximately +¥481 million
- Increases in logistics costs, research and development expenses, and other SG&A expensesIndividual amount: 非開示
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Assumed Exchange RatesUSD 1 = ¥150, EUR 1 = ¥175, RMB 1 = ¥21.0
New initiatives
- Reducing cash on hand by implementing a cash management system (CMS) and using commitment lines
- Proactive capital investment under STAGE 3
- Investments related to decarbonisation, digital transformation, increased GliCAP production capacity, and a new R&D centre building
- Flexible Share Repurchases
- Proactive information disclosure and dialogue with investors
Key KPIsA metric the company considers important as a management benchmark.
- ROE14.4 %Year on year against the same period last year+5.1 percentage points
- Chemicals business ROIC32.4 %
- Building Materials business ROIC2.3 %
- PBR1.88 TimesYear on year against the same period last yearIncreased from 1.25 times at FY2025-end
- PER13.9 TimesYear on year against the same period last yearDown from 14.0x at FY2025-end
- Number of meetings with investors177 cases cumulative third quarterYear on year against the same period last yearIncreased from 105 cases
Unit price and quantity metricsThese figures show sales broken down by price and volume.
References were made to lower exterior product volumes and sales trends for inorganic chemicals and individual products. An indicator breaking down price and volume together into quantitative figures: Not disclosed.Segment results
Chemicals Business
Net Sales57,778
Revenue Unit¥ million
Operating profit15,161
Operating profit unit¥ million
Year-on-year revenue growth+¥19.53 billion
Year-on-year change in operating profit+¥7.25 billion
Building Materials
Net Sales13,576
Revenue Unit¥ million
Operating profit225
Operating profit unit¥ million
Year-on-year revenue growth+¥220 million
Year-on-year change in operating profit+¥70 million
Financial targets
ROE targetAt least 10%
Cost of equity7～8%
Actual Chemicals Business ROIC32.4%
Actual Building Materials Business ROIC2.3%
Actual ROE14.4%
Capital expenditures
¥78.1 100 million cumulative third-quarter capital expenditure
Annual Dividend
Annual dividend per share¥40
BreakdownInterim: ¥15; year-end: ¥25
Payout ratio
30%Acquisition of treasury shares
Buyback limitUp to ¥4 billion
Repurchased¥2.7 billion cumulatively by the end of October
PeriodThrough the end of December
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings summary |
| Fiscal Period Covered | Fiscal year ending December 2026, third quarter |
| Net Sales | ¥72,212 million (YoY +37.6%) |
| Operating profit | ¥15,709 million (YoY +89.8%) |
| Ordinary income | ¥15,514 million (YoY +82.3%) |
| Net income | ¥10,704 million (YoY +77.7%) |
| Operating profit margin | 21.8% (cumulative third quarter; year-on-year change in percentage points: Not disclosed) |
| Results for the three months of the current quarter | Sales of ¥26.37 billion and operating profit of ¥6.27 billion. Year on year, sales increased 44.1% and operating profit increased 107.5%. |
| Full-year earnings forecast | Net Sales ¥99,000 million / Operating profit ¥22,000 million / Ordinary income ¥22,000 million / Profit attributable to owners of the parent ¥16,500 million |
| Progress against full-year forecast | Net Sales 77% (Chemicals: 79%; Building Materials: 71%) / Operating profit 87% (Chemicals: 87%; Building Materials: 56%) / Ordinary income 84% / Profit attributable to owners of the parent 85% |
| Self-assessment against the plan | The Chemicals business is ahead of plan, while the Building Materials business is behind plan. |
| Segment results | Chemicals Business Net Sales 57,778 / Revenue Unit ¥ million / Operating profit 15,161 / Operating profit unit ¥ million / Year-on-year revenue growth +¥19.53 billion / Year-on-year change in operating profit +¥7.25 billion / Building Materials Net Sales 13,576 / Revenue Unit ¥ million / Operating profit 225 / Operating profit unit ¥ million / Year-on-year revenue growth +¥220 million / Year-on-year change in operating profit +¥70 million |
| Breakdown of Factors Affecting the Change | Factors Earnings growth accompanying higher net sales in the Chemicals Business / Amount Shown in a chart; individual amount: Not disclosed, Factors Higher gross margin in the Chemicals Business / Amount Shown in a chart; individual amount: Not disclosed, Factors Earnings growth accompanying higher net sales in the Building Materials Business / Amount Shown in a chart; individual amount: Not disclosed, Factors Higher gross margin in the Building Materials Business / Amount Shown in a chart; individual amount: Not disclosed, Factors Higher profit due to exchange-rate movements / Amount Approximately ¥1.63 billion, Factors Higher raw material prices due to surging aluminum ingot prices / Amount Approximately +¥566 million, Factors Human capital investment (wage increases, training and education, etc.) / Amount Approximately +¥481 million, Factors Increases in logistics costs, research and development expenses, and other SG&A expenses / Amount Individual amount: Not disclosed |
| Key KPIs | Indicator name ROE / Value 14.4 % / Year on year against the same period last year +5.1 percentage points, Indicator name Chemicals business ROIC / Value 32.4 % / Year on year against the same period last year Not disclosed, Indicator name Building Materials business ROIC / Value 2.3 % / Year on year against the same period last year Not disclosed, Indicator name PBR / Value 1.88 Times / Year on year against the same period last year Increased from 1.25 times at FY2025-end, Indicator name PER / Value 13.9 Times / Year on year against the same period last year Down from 14.0x at FY2025-end, Indicator name Number of meetings with investors / Value 177 cases (cumulative third quarter) / Year on year against the same period last year Increased from 105 cases |
| Unit price and quantity metrics | References were made to lower exterior product volumes and sales trends for inorganic chemicals and individual products. An indicator breaking down price and volume together into quantitative figures: Not disclosed. |
| Assumptions Underlying the Business Outlook | Assumed Exchange Rates USD 1 = ¥150, EUR 1 = ¥175, RMB 1 = ¥21.0 |
| Financial targets | ROE target At least 10% / Cost of equity 7～8% / Actual Chemicals Business ROIC 32.4% / Actual Building Materials Business ROIC 2.3% / Actual ROE 14.4% |
| Annual Dividend | Annual dividend per share ¥40 / Breakdown Interim: ¥15; year-end: ¥25 |
| Payout ratio | 30% |
| Acquisition of treasury shares | Buyback limit Up to ¥4 billion / Repurchased ¥2.7 billion cumulatively by the end of October / Period Through the end of December |
| Capital expenditures | ¥78.1 100 million (cumulative third-quarter capital expenditure) |
| New initiatives | Reducing cash on hand by implementing a cash management system (CMS) and using commitment lines, Proactive capital investment under STAGE 3, Investments related to decarbonisation, digital transformation, increased GliCAP production capacity, and a new R&D centre building, Flexible Share Repurchases, Proactive information disclosure and dialogue with investors |
Items this document does not state (9)
Gross Profit MarginSelling, general and administrative expensesNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsOrders 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.Strong sales of inorganic chemicals and fine chemicals, an improved competitive environment for inorganic chemicals, the new consolidation of Timuraya, and foreign exchange movements. The Building Materials business was sluggish due to weak housing starts, lower exterior product volumes, and higher aluminum ingot prices.
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.