Worth reading
58In 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
27.9
%Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales139,608Millions of yenYear on year +27.9%Progress 43.4%
Operating profit23,352Millions of yenYear on year +13.1%Progress 46.2%
Ordinary income24,199Millions of yenYear on year +11.9%Progress 46.7%
Net income attributable to owners of the parent16,985Millions of yenYear on year +10.2%Progress 41.4%
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¥75.50
Financial position at period-end
Total assets393,014Millions of yen
of which net assets 300,514 Millions of yenEquity ratio 76.2%vs. prior year-end +2.2pt
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.
Segment revenueFunctional Chemicals 76,689 Millions of yen (YoY +11.0%), Pharmaceuticals, Medical Care and Healthcare Business 22,301 Millions of yen (YoY -10.8%), Industrial Explosives Business 40,276 Millions of yen (YoY +173.6%), Other Businesses 340 Millions of yen (YoY +5.6%)
Segment profitFunctional Chemicals 14,410 Millions of yen (YoY +16.7%), Pharmaceuticals, Medical Care and Healthcare Business 4,388 Millions of yen (YoY -47.5%), Industrial Explosives Business 6,068 Millions of yen (YoY +369.4%), Other Businesses 293 Millions of yen (YoY +24.6%)
Regional sales104,506 Millions of yen, 19,086 Millions of yen, 9,790 Millions of yen, 6,225 Millions of yen
Outlook and shareholder returns
Full-year earnings forecast
Net Sales321,500 Millions of yen (YoY +24.6%)
Operating profit50,500 Millions of yen (YoY +6.5%)
Ordinary income51,800 Millions of yen (YoY +2.8%)
Net income41,000 Millions of yen (YoY +1.1%)
Revision to Earnings ForecastNet Sales Not disclosed → 321,500 Millions of yen / Operating profit Not disclosed → 50,500 Millions of yen / Ordinary income Not disclosed → 51,800 Millions of yen / Net income Not disclosed → 41,000 Millions of yen
Annual Dividend Forecast61 Yen → 74 Yen
Shareholder Return PolicyTargeting a total payout ratio of at least 70%
Factors Behind Changes in Business Performance
The functional chemicals business increased, reflecting steady demand and revisions to selling prices, while the specialty chemicals business increased due to revenue recognition for certain transactions involving defense-related products. The pharmaceutical, medical and healthcare business decreased, mainly because most shipments of DDS pharmaceutical formulation materials are expected in the second half of the fiscal year.
Disclosure regarding the going concern assumption
None. The notes on the going concern assumption state: “There are no applicable matters.”
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 consolidationNewly consolidated: 0 companies; excluded: 0 companies. No company names disclosed.
Material subsequent eventsAt a meeting of the Board of Directors held on 5 November 2026, the Company resolved to acquire treasury shares from 6 November through 31 December 2026, up to a maximum of 2.1 million common shares and a total acquisition price of up to ¥5 billion.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of property, plant and equipment 54 Millions of yen, Gain on sale of investment securities 688 Millions of yen / Extraordinary loss Loss on sale of property, plant and equipment 0 Millions of yen, Loss on disposal of property, plant and equipment 96 Millions of yen, Loss on sale of investment securities 1 Millions of yen
Depreciation and amortization23,224 Millions of yen
Availability of Supplementary Financial Results MaterialsAvailable
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End226,524,128 shares
Treasury Shares at Period-End3,564,265 shares
| 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 | 139,608 Millions of yen (YoY +27.9%) |
| Operating profit | 23,352 Millions of yen (YoY +13.1%) |
| Ordinary income | 24,199 Millions of yen (YoY +11.9%) |
| Profit attributable to owners of the parent | 16,985 Millions of yen (YoY +10.2%) |
| Net income per share | ¥75.50 |
| Equity ratio | End of the current fiscal period 76.2% / End of previous period 74.0% |
| Total assets | 393,014 Millions of yen |
| Net assets | 300,514 Millions of yen |
| Full-year earnings forecast | Net Sales 321,500 Millions of yen (YoY +24.6%) / Operating profit 50,500 Millions of yen (YoY +6.5%) / Ordinary income 51,800 Millions of yen (YoY +2.8%) / Net income 41,000 Millions of yen (YoY +1.1%) |
| Revision to Earnings Forecast | Net Sales Not disclosed → 321,500 Millions of yen / Operating profit Not disclosed → 50,500 Millions of yen / Ordinary income Not disclosed → 51,800 Millions of yen / Net income Not disclosed → 41,000 Millions of yen |
| Annual Dividend Forecast | 61 Yen → 74 Yen |
| Shareholder Return Policy | Targeting a total payout ratio of at least 70% |
| Segment revenue | Functional Chemicals 76,689 Millions of yen (YoY +11.0%), Pharmaceuticals, Medical Care and Healthcare Business 22,301 Millions of yen (YoY -10.8%), Industrial Explosives Business 40,276 Millions of yen (YoY +173.6%), Other Businesses 340 Millions of yen (YoY +5.6%) |
| Segment profit | Functional Chemicals 14,410 Millions of yen (YoY +16.7%), Pharmaceuticals, Medical Care and Healthcare Business 4,388 Millions of yen (YoY -47.5%), Industrial Explosives Business 6,068 Millions of yen (YoY +369.4%), Other Businesses 293 Millions of yen (YoY +24.6%) |
| Regional sales | 104,506 Millions of yen, 19,086 Millions of yen, 9,790 Millions of yen, 6,225 Millions of yen |
| Depreciation and amortization | 23,224 Millions of yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of property, plant and equipment 54 Millions of yen, Gain on sale of investment securities 688 Millions of yen / Extraordinary loss Loss on sale of property, plant and equipment 0 Millions of yen, Loss on disposal of property, plant and equipment 96 Millions of yen, Loss on sale of investment securities 1 Millions of yen |
| Disclosure regarding the going concern assumption | None. The notes on the going concern assumption state: “There are no applicable matters.” |
| 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 | Newly consolidated: 0 companies; excluded: 0 companies. No company names disclosed. |
| Material subsequent events | At a meeting of the Board of Directors held on 5 November 2026, the Company resolved to acquire treasury shares from 6 November through 31 December 2026, up to a maximum of 2.1 million common shares and a total acquisition price of up to ¥5 billion. |
| Availability of Supplementary Financial Results Materials | Available |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 226,524,128 shares |
| Treasury Shares at Period-End | 3,564,265 shares |
| Factors Behind Changes in Business Performance | The functional chemicals business increased, reflecting steady demand and revisions to selling prices, while the specialty chemicals business increased due to revenue recognition for certain transactions involving defense-related products. The pharmaceutical, medical and healthcare business decreased, mainly because most shipments of DDS pharmaceutical formulation materials are expected in the second half of the fiscal year. |
Items this document does not state (8)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioOrders received and order backlogImpairment loss
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.The functional chemicals business reported higher revenue and profit, reflecting demand related to the environment and energy and toiletry products, as well as revisions to selling prices in response to soaring raw material and fuel prices. The specialty chemicals business saw a significant increase in revenue and operating profit due to the recognition of revenue from certain transactions involving initial costs for the early deployment of defense-related products. By contrast, the pharmaceutical, medical and healthcare business reported lower revenue and profit, mainly because most shipments of DDS pharmaceutical formulation materials are expected in the second half of the fiscal year.
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