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Earnings presentation4206Aica Kogyo Company,LimitedMaterials and Chemicals

Financial Results Briefing Materials for the Fiscal Year Ending March 2026

For the fiscal year ended March 2026, revenue, operating profit, ordinary profit and net income reached record highs, while operating profit and ordinary profit increased for the fifth consecutive fiscal year. For the fiscal year ending March 2027, the Company plans higher revenue and profits, supported by the consolidation of Stylam and growth in existing businesses.

Worth reading
86Important
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
11.2
% (year-on-year change in revenue for the fiscal year ending March 2027)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFiscal year ending March 202616 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥251,764 million+1.2%
Operating profit¥29,143 million+6.3%
Ordinary income¥30,136 million+5.1%
Net income¥18,533 million+9.7%
Operating profit margin11.6% for the fiscal year ended March 2026; no year-on-year change points disclosed
Full-year earnings forecast
Fiscal year ending March 2027
Net Sales
¥280,000 million
Operating profit
¥31,000 million
Ordinary income
¥32,000 million
Net income for the current fiscal year
¥18,600 million
ROE
10% or higher
Earnings per share
¥293.95
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。
Fiscal year ending March 2026
Net Sales95.0%
Operating profit100.5%
Ordinary income100.5%
Net income for the current fiscal year101.3%
Earnings per share101.7%
Chemicals_Adhesives94.0%
Chemicals_Construction resins95.5%
Chemicals_Functional materials85.7%
Chemicals_Other99.7%
Chemicals_Total93.6%
Interior and Building Materials_Melamine-faced panels93.9%
Interior and Building Materials_Boards, films, etc.89.8%
Interior and Building Materials_Cerarl100.4%
Interior and Building Materials_Noncombustible building materials100.0%
Interior and Building Materials_Housing equipment and materials99.0%
Interior and Building Materials_Total96.7%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Operating profit was below plan in the Chemicals segment and above plan in the Interior and Building Materials segment
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Chemicals operating profit
Raw material impacts, etc.
¥286 million
Price pass-through and cost reductions
¥266 million
Interior and Building Materials operating profit
Raw material impacts, etc.
¥-1,620 million
Price pass-through and cost reductions
¥1,744 million
Operating profit plan for Chemicals for the fiscal year ending March 2027
Raw material impacts, etc.
¥-775 million
Price pass-through and cost reductions
¥268 million
Operating profit plan for Interior and Building Materials for the fiscal year ending March 2027
Raw material impacts, etc.
¥-623 million
Price pass-through and cost reductions
¥200 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Foreign exchange conversion rate
Actual results for the fiscal year ending March 20261 USD = ¥150.42
Forecast for the fiscal year ending March 20271 USD = ¥155.00
Domestic naphtha price
Actual results for the fiscal year ending March 2026¥67,100/kl
Forecast for the fiscal year ending March 2027¥97,600/kl
Domestic housing startsForecast for the fiscal year ending March 2027: up 4.2% year on year
Domestic non-residential construction floor area startsForecast for the fiscal year ending March 2027: down 5.0% year on year
New initiatives
  • Procedures for acquiring shares in Stylam and making it a consolidated subsidiary
  • Strengthening regional cooperation between Indonesia and Thailand in the AAP retail business
  • Development of outdoor melamine-faced panels for outdoor tables and expansion into outdoor applications
  • Price revisions and global procurement in response to the situation in the Middle East
Key KPIsA metric the company considers important as a management benchmark.
  • ROE10.2%
  • ROIC8.8%
    Year on year against the same period last yearDown from 9.6% in the prior year
  • Overseas revenue ratio45.8%
    Year on year against the same period last yearDown from 48.0% in the prior year
  • AS product revenue¥272 million
    Year on year against the same period last yearUp from ¥24.1 billion in the prior year
  • Number of serious occupational accidents0 Engagements
  • Number of lost-time accidents13 Engagements
  • Labor productivity¥24.36 million/person
Segment results
Chemical Products
Net Sales
¥136,262 million
Revenue_yoy_pct-1.7
Operating profit
¥9,330 million
Operating profit_yoy_pct-0
Operating profit margin6.8%
Interior and architectural materials
Net Sales
¥115,502 million
Revenue_yoy_pct4.9
Operating profit
¥24,803 million
Operating profit_yoy_pct10.1
Operating profit margin21.5%
Unallocated operating expenses
¥-4,990 million
Medium-term management plan targets
Fiscal year ending March 2027
Net SalesConsolidated operating revenue target: ¥280 billion
Ordinary income¥32 billion
ROE10% or higher
ROIC9% or more
Overseas revenue ratio50% or higher
AS product revenue¥29.0 billion
Comparison with actual resultsFiscal year ended March 2026 results: revenue of ¥251.7 billion, ordinary profit of ¥30.1 billion, ROE of 10.2%, ROIC of 8.8%, overseas revenue ratio of 45.8%, and AS product revenue of ¥27.2 billion
Financial targets
ROE
Target10% or higher
Actual results for the fiscal year ending March 202610.2%
ROIC
Target9% or more
Actual results for the fiscal year ending March 20268.8%
Equity ratio
PolicyMaintain at 50% or more
Actual results for the fiscal year ending March 202658.4%
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Approximately ¥1.5 billion in raw material impacts that emerged in Q1 due to the situation in the Middle East is incorporated into the outlook
Market Size / Share
Top share in rubber-based adhesives in Indonesia. India's real GDP growth rate is 6–7%, and its urbanization rate is 35%. Figures for the Asian HPL market are included in the materials, but individual company share figures are Not disclosed
Orders received and order backlog
Domestic renovation and renewal orders increased year on year by 8.7% in residential and 22.2% in non-residential. Amounts: Not disclosed
Number of employees
Stylam: 1,820 employees. Employee count for the Aica Kogyo Group: Not disclosed
Capital expenditures
¥78.8 100 million actual for the fiscal year ended March 2026
Annual Dividend
Fiscal year ending March 2026
Annual¥138 per share
Year on year against the same period last year+¥12
Fiscal year ending March 2027
Annual¥140 per share
Interim¥68 (forecast)
End of period¥72 (forecast)
Payout ratio
46.5% for the fiscal year ended March 2026. The progressive dividend policy will continue
Acquisition of treasury shares
The Company plans and has implemented ¥10 billion in share buybacks during the period of the medium-term management plan. Details of the acquisition period: Not disclosed
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFiscal year ending March 2026
Net Sales¥251,764 million (YoY +1.2%)
Operating profit¥29,143 million (YoY +6.3%)
Ordinary income¥30,136 million (YoY +5.1%)
Net income¥18,533 million (YoY +9.7%)
Operating profit margin11.6% for the fiscal year ended March 2026; no year-on-year change points disclosed
Full-year earnings forecastFiscal year ending March 2027 Net Sales ¥280,000 million / Operating profit ¥31,000 million / Ordinary income ¥32,000 million / Net income for the current fiscal year ¥18,600 million / ROE 10% or higher / Earnings per share ¥293.95
Progress against full-year forecastFiscal year ending March 2026 Net Sales 95.0% / Operating profit 100.5% / Ordinary income 100.5% / Net income for the current fiscal year 101.3% / Earnings per share 101.7% / Chemicals_Adhesives 94.0% / Chemicals_Construction resins 95.5% / Chemicals_Functional materials 85.7% / Chemicals_Other 99.7% / Chemicals_Total 93.6% / Interior and Building Materials_Melamine-faced panels 93.9% / Interior and Building Materials_Boards, films, etc. 89.8% / Interior and Building Materials_Cerarl 100.4% / Interior and Building Materials_Noncombustible building materials 100.0% / Interior and Building Materials_Housing equipment and materials 99.0% / Interior and Building Materials_Total 96.7%
Self-assessment against the planOperating profit was below plan in the Chemicals segment and above plan in the Interior and Building Materials segment
Segment resultsChemical Products Net Sales ¥136,262 million / Revenue_yoy_pct -1.7 / Operating profit ¥9,330 million / Operating profit_yoy_pct -0 / Operating profit margin 6.8% / Interior and architectural materials Net Sales ¥115,502 million / Revenue_yoy_pct 4.9 / Operating profit ¥24,803 million / Operating profit_yoy_pct 10.1 / Operating profit margin 21.5% / Unallocated operating expenses ¥-4,990 million
Breakdown of Factors Affecting the ChangeChemicals operating profit Raw material impacts, etc. ¥286 million / Price pass-through and cost reductions ¥266 million / Interior and Building Materials operating profit Raw material impacts, etc. ¥-1,620 million / Price pass-through and cost reductions ¥1,744 million / Operating profit plan for Chemicals for the fiscal year ending March 2027 Raw material impacts, etc. ¥-775 million / Price pass-through and cost reductions ¥268 million / Operating profit plan for Interior and Building Materials for the fiscal year ending March 2027 Raw material impacts, etc. ¥-623 million / Price pass-through and cost reductions ¥200 million
Key KPIsIndicator name ROE / Value 10.2% / Year on year against the same period last year Not disclosed, Indicator name ROIC / Value 8.8% / Year on year against the same period last year Down from 9.6% in the prior year, Indicator name Overseas revenue ratio / Value 45.8% / Year on year against the same period last year Down from 48.0% in the prior year, Indicator name AS product revenue / Value ¥272 million / Year on year against the same period last year Up from ¥24.1 billion in the prior year, Indicator name Number of serious occupational accidents / Value 0 Engagements / Year on year against the same period last year Not disclosed, Indicator name Number of lost-time accidents / Value 13 Engagements / Year on year against the same period last year Not disclosed, Indicator name Labor productivity / Value ¥24.36 million/person / Year on year against the same period last year Not disclosed
Number of employeesStylam: 1,820 employees. Employee count for the Aica Kogyo Group: Not disclosed
Assumptions Underlying the Business OutlookForeign exchange conversion rate Actual results for the fiscal year ending March 2026 1 USD = ¥150.42 / Forecast for the fiscal year ending March 2027 1 USD = ¥155.00 / Domestic naphtha price Actual results for the fiscal year ending March 2026 ¥67,100/kl / Forecast for the fiscal year ending March 2027 ¥97,600/kl / Domestic housing starts Forecast for the fiscal year ending March 2027: up 4.2% year on year / Domestic non-residential construction floor area starts Forecast for the fiscal year ending March 2027: down 5.0% year on year
Risk amount incorporated into the outlookApproximately ¥1.5 billion in raw material impacts that emerged in Q1 due to the situation in the Middle East is incorporated into the outlook
Medium-term management plan targetsFiscal year ending March 2027 Net Sales Consolidated operating revenue target: ¥280 billion / Ordinary income ¥32 billion / ROE 10% or higher / ROIC 9% or more / Overseas revenue ratio 50% or higher / AS product revenue ¥29.0 billion / Comparison with actual results Fiscal year ended March 2026 results: revenue of ¥251.7 billion, ordinary profit of ¥30.1 billion, ROE of 10.2%, ROIC of 8.8%, overseas revenue ratio of 45.8%, and AS product revenue of ¥27.2 billion
Financial targetsROE Target 10% or higher / Actual results for the fiscal year ending March 2026 10.2% / ROIC Target 9% or more / Actual results for the fiscal year ending March 2026 8.8% / Equity ratio Policy Maintain at 50% or more / Actual results for the fiscal year ending March 2026 58.4%
Annual DividendFiscal year ending March 2026 Annual ¥138 per share / Year on year against the same period last year +¥12 / Fiscal year ending March 2027 Annual ¥140 per share / Interim ¥68 (forecast) / End of period ¥72 (forecast)
Payout ratio46.5% for the fiscal year ended March 2026. The progressive dividend policy will continue
Acquisition of treasury sharesThe Company plans and has implemented ¥10 billion in share buybacks during the period of the medium-term management plan. Details of the acquisition period: Not disclosed
Capital expenditures¥78.8 100 million (actual for the fiscal year ended March 2026)
Orders received and order backlogDomestic renovation and renewal orders increased year on year by 8.7% in residential and 22.2% in non-residential. Amounts: Not disclosed
Market Size / ShareTop share in rubber-based adhesives in Indonesia. India's real GDP growth rate is 6–7%, and its urbanization rate is 35%. Figures for the Asian HPL market are included in the materials, but individual company share figures are Not disclosed
New initiativesProcedures for acquiring shares in Stylam and making it a consolidated subsidiary, Strengthening regional cooperation between Indonesia and Thailand in the AAP retail business, Development of outdoor melamine-faced panels for outdoor tables and expansion into outdoor applications, Price revisions and global procurement in response to the situation in the Middle East
Items this document does not state (6)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterUnit price and quantity metricsNumber of stores and locationsKey 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.

For the fiscal year ended March 2026, growth in high-value-added products in domestic adhesives, construction resins, interior and building materials, as well as price pass-through, contributed to results. Overseas, however, revenue and profits declined due partly to the downturn in China's real estate market. For the fiscal year ending March 2027, the Company expects contributions from the consolidation of Stylam, growth in existing businesses, a recovery in overseas operations, and expanded sales of high-value-added products.

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Financial Results Briefing Materials for the Fiscal Year Ending March 2026 | Aica Kogyo Company,Limited (4206) timely disclosure | Komori