Revised forecast
Fiscal year ending December 2026 · Cumulative second quarter and full yearPrevious forecast published 13 February 2026The bar length represents the relative magnitude of change, based on the item that changed the most in this document. The percentage change shown by the dotted line is calculated from the two reported figures because the company did not provide the rate.
The company expects results to exceed its previous forecasts because demand for products used in semiconductor package substrates for generative AI and data centers has remained firm, exceeding expectations, and demand for higher-margin products has increased, among other factors. For the full year, the company assumed strong investment appetite for generative AI and data centers, while also taking into account the impact of rising crude oil prices and trends in inflation associated with heightened geopolitical risks, uncertainty surrounding U.S. trade policy, trends in the semiconductor package substrate market, and the escalating situation in the Middle East.
| Item | Details |
|---|---|
| Net Sales | Cumulative second-quarter results 10,800 / Full year 22,500 → Cumulative second-quarter results 12,250 / Full year 24,500（Cumulative second-quarter results 13.4 / Full year 8.9） |
| Operating profit | Cumulative second-quarter results 3,000 / Full year 6,500 → Cumulative second-quarter results 4,000 / Full year 7,600（Cumulative second-quarter results 33.3 / Full year 16.9） |
| Ordinary income | Cumulative second-quarter results 3,025 / Full year 6,550 → Cumulative second-quarter results 4,050 / Full year 7,700（Cumulative second-quarter results 33.9 / Full year 17.6） |
| Profit attributable to owners of the parent | Cumulative second-quarter results 2,000 / Full year 4,600 → Cumulative second-quarter results 2,900 / Full year 5,550（Cumulative second-quarter results 45 / Full year 20.7） |
| Net income per share | Cumulative second-quarter results 109.53 / Full year 251.91 → Cumulative second-quarter results 158.81 / Full year 303.93 |
| Fiscal Period Covered | Fiscal year ending December 2026 |
| Period Covered | Cumulative second quarter and full year |
| Publication date of previous forecast | 13 February 2026 |
| Previous-period results | Second quarter Net sales ¥9,387 million, operating profit ¥2,440 million, ordinary profit ¥2,493 million, interim net income attributable to owners of the parent ¥1,893 million, and interim net income per share ¥101.47 (second quarter of the fiscal year ended December 2025) / Full year Net sales ¥20,947 million, operating profit ¥5,748 million, ordinary profit ¥6,051 million, net income attributable to owners of the parent ¥5,028 million, and net income per share ¥272.14 (fiscal year ended December 2025) |
| Reason for the revision | The company expects results to exceed its previous forecasts because demand for products used in semiconductor package substrates for generative AI and data centers has remained firm, exceeding expectations, and demand for higher-margin products has increased, among other factors. For the full year, the company assumed strong investment appetite for generative AI and data centers, while also taking into account the impact of rising crude oil prices and trends in inflation associated with heightened geopolitical risks, uncertainty surrounding U.S. trade policy, trends in the semiconductor package substrate market, and the escalating situation in the Middle East. |
| Dividend forecast revision | The forecast for the second-quarter-end dividend was revised from ¥40.00 to ¥55.00, the year-end dividend from ¥56.00 to ¥55.00, and the annual total from ¥96.00 to ¥110.00. |
| Consolidated / non-consolidated | Consolidated |
Items this document does not state (1)
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 company revised its earnings forecasts upward because demand for products used in semiconductor package substrates for generative AI and data centers has remained firm, exceeding expectations, and demand for higher-margin products has increased, among other factors. For the full year, the company assumed strong investment appetite, while also taking into account trends in crude oil prices and inflation associated with geopolitical risks, uncertainty surrounding U.S. trade policy, and the situation in the Middle East.