Worth reading
48Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
10650
¥ million (year-on-year increase in consolidated net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationSecond quarter of the fiscal year ending March 20277 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥78,480 million+16.0%
Operating profit¥22,230 million+46.0%
Ordinary income¥22,739 million+56.0%
Net income¥17,305 million+57.0%
Operating profit margin28 %
Results for the three months of the current quarterNet sales: ¥39,460 million; operating profit: ¥11,724 million (standalone second quarter of the fiscal year ending March 2027, as shown in the quarterly trend chart)
Full-year earnings forecast
Net Sales
¥152,500 million
Operating profit
¥39,600 million
Ordinary income
¥39,700 million
Profit attributable to owners of the parent
¥29,600 million
EBITDA
¥48,500 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。
Consolidated
Net Sales53
Operating profit61
Ordinary income63
Profit attributable to owners of the parent68
EBITDA59
Electronics business
Net Sales55
Operating profit62
EBITDA61
Pharmaceuticals
Net Sales46
Operating profit37
EBITDA43
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The Electronics business's second-quarter results exceeded expectationsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Weaker yen (period-average exchange rate: ¥146.5 to ¥160.0)
- Price revisions for certain products
- Higher sales volume of materials for PKG substrates
- Higher sales volumes of high-performance materials for rigid printed circuit boards
- Change in the product mix of the pharmaceutical contract manufacturing business
- Lower sales volumes of cough and expectorant medicines and products covered by the selected medical treatment system
The company identifies the factors but does not state the amount attributable to each one.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
JPY/USD exchange rate
First-half results¥160.0
Second-half forecast¥150.0
Key KPIsA metric the company considers important as a management benchmark.
- EBITDA¥26,630 millionYear on year against the same period last year+37.0%
- EBITDA margin34 %
- Equity ratio61.9 %
- Electronics business operating margin36 %
- Pharmaceuticals business operating margin9 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Changes in sales volumes were disclosed for the Electronics and Pharmaceuticals businesses. An indicator combining unit prices and volumes was Not disclosedSegment results
Electronics business
Net Sales
¥57,830 million+25.0%
Operating profit
¥20,837 million+51.0%
EBITDA
¥22,784 million+46.0%
Pharmaceuticals
Net Sales
¥17,169 million-7.0%
Operating profit
¥1,499 million-38.0%
EBITDA
¥3,452 million-21.0%
ICT&S business
Net Sales
¥3,479 million+15.0%
Operating profit
¥260 million+1,321.0%
Financial targets
Equity ratio: 57.3% at 31 March 2026 and 61.9% at 30 September 2026. Target: Not disclosed| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥78,480 million (YoY +16.0%) |
| Operating profit | ¥22,230 million (YoY +46.0%) |
| Ordinary income | ¥22,739 million (YoY +56.0%) |
| Net income | ¥17,305 million (YoY +57.0%) |
| Operating profit margin | 28 % |
| Results for the three months of the current quarter | Net sales: ¥39,460 million; operating profit: ¥11,724 million (standalone second quarter of the fiscal year ending March 2027, as shown in the quarterly trend chart) |
| Full-year earnings forecast | Net Sales ¥152,500 million / Operating profit ¥39,600 million / Ordinary income ¥39,700 million / Profit attributable to owners of the parent ¥29,600 million / EBITDA ¥48,500 million |
| Progress against full-year forecast | Consolidated Net Sales 53 / Operating profit 61 / Ordinary income 63 / Profit attributable to owners of the parent 68 / EBITDA 59 / Electronics business Net Sales 55 / Operating profit 62 / EBITDA 61 / Pharmaceuticals Net Sales 46 / Operating profit 37 / EBITDA 43 |
| Self-assessment against the plan | The Electronics business's second-quarter results exceeded expectations |
| Segment results | Electronics business Net Sales ¥57,830 million (YoY +25.0%) / Operating profit ¥20,837 million (YoY +51.0%) / EBITDA ¥22,784 million (YoY +46.0%) / Pharmaceuticals Net Sales ¥17,169 million (YoY -7.0%) / Operating profit ¥1,499 million (YoY -38.0%) / EBITDA ¥3,452 million (YoY -21.0%) / ICT&S business Net Sales ¥3,479 million (YoY +15.0%) / Operating profit ¥260 million (YoY +1,321.0%) |
| Breakdown of Factors Affecting the Change | Factors Weaker yen (period-average exchange rate: ¥146.5 to ¥160.0) / Amount Not disclosed, Factors Price revisions for certain products / Amount Not disclosed, Factors Higher sales volume of materials for PKG substrates / Amount Not disclosed, Factors Higher sales volumes of high-performance materials for rigid printed circuit boards / Amount Not disclosed, Factors Change in the product mix of the pharmaceutical contract manufacturing business / Amount Not disclosed, Factors Lower sales volumes of cough and expectorant medicines and products covered by the selected medical treatment system / Amount Not disclosed |
| Key KPIs | Indicator name EBITDA / Value ¥26,630 million / Year on year against the same period last year ¥37 million, Indicator name EBITDA margin / Value 34 % / Year on year against the same period last year Not disclosed, Indicator name Equity ratio / Value 61.9 % / Year on year against the same period last year Not disclosed, Indicator name Electronics business operating margin / Value 36 % / Year on year against the same period last year Not disclosed, Indicator name Pharmaceuticals business operating margin / Value 9 % / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Changes in sales volumes were disclosed for the Electronics and Pharmaceuticals businesses. An indicator combining unit prices and volumes was Not disclosed |
| Assumptions Underlying the Business Outlook | JPY/USD exchange rate First-half results ¥160.0 / Second-half forecast ¥150.0 |
| Financial targets | Equity ratio: 57.3% at 31 March 2026 and 61.9% at 30 September 2026. Target: Not disclosed |
Items this document does not state (14)
Gross Profit MarginSelling, general and administrative expensesNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&ANew initiatives
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.In the Electronics business, revenue growth was driven by the weaker yen, price revisions for certain products in response to higher raw material and other costs, and increased sales volumes of products for memory applications and other products amid the spread of AI. In the Pharmaceuticals business, revenue declined due to changes in the product mix of its contract manufacturing business and lower sales volumes of cough and expectorant medicines and products covered by the selected medical treatment system. The reasons given for raising the full-year forecast were that the Electronics business's second-quarter results exceeded expectations and that a gain on the sale of investment securities of ¥2,052 million was recorded.
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.