Worth reading
69In 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
2448
Millions of yen (year-on-year increase in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationThird quarter of the fiscal year ending December 202613 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥19,730 million+31.6%
Operating profit¥6,696 million+57.6%
Ordinary income¥6,796 million+55.8%
Net income¥4,823 million+44.9%
Selling, general and administrative expenses¥6,016 million
Gross Profit Margin
Rate64.4%
Operating profit margin
Rate33.9%
Results for the three months of the current quarter
July–September 2026
Net Sales
¥7,136 million
Operating profit
¥2,560 million
Operating profit margin35.9%
Full-year earnings forecast
Net Sales
¥26,500 million
Operating profit
¥8,600 million
Ordinary income
¥8,700 million
Net income
¥6,100 million
Earnings per share
¥334.05
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 Sales74.5%
Operating profit77.9%
Ordinary income78.1%
Net income79.1%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Chemical product sales and volume¥3,230 million
Etchants¥328 million
Other Chemicals¥79 million
Machinery sales¥90 million
Materials sales¥-176 million
Other sales¥7 million
Foreign exchange impact¥1,182 million
Operating profit
Chemical product sales and volume¥1,778 million
Chemical product gross profit margin¥650 million
Machinery sales¥21 million
Machinery gross profit margin¥-14 million
Materials and other sales¥-66 million
Materials and other gross profit margin¥-19 million
Foreign exchange effects (gross profit)¥1,014 million
Selling, general and administrative expenses¥-640 million
Foreign exchange effects (SG&A expenses)¥-274 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Exchange rate
NTD¥4.96
RMB¥22.58
THB¥4.93
EUR¥183.65
USD¥156.45
New initiatives
- Construction of Phase 2 of the Kitakyushu Plant (investment of approximately ¥2 billion; operations scheduled to begin in fiscal 2028)
- Acquisition of land adjacent to the Nagaoka Plant (investment of approximately ¥2.3 billion)
- Commencement of operations at Phase 1 of the Kitakyushu Plant (scheduled for December 2026)
- Expansion of chemical adhesion treatment AP technology to PCB substrates and high-frequency substrates
Key KPIsA metric the company considers important as a management benchmark.
- Chemical sales¥19,361 millionYear on year against the same period last year+33.0%
- Shipment volume41,596 tonYear on year against the same period last year+19.4%
- Overseas sales ratio71.6 %
- Revenue from major product EXEUp 34.4% year on year
- Revenue from major product CZUp 31.7% year on year
- Revenue from major product V-BondUp 16.6% year on year
- Revenue from major product SFDown 14.9% year on year
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Shipment volume
41,596 ton+19.4%
Segment results
Regional sales
Japan
1-3¥2,366 million
4-6¥2,197 million
7-9¥2,275 million
Taiwan
1-3¥1,115 million
4-6¥1,212 million
7-9¥1,290 million
China
1-3¥1,894 million
4-6¥2,234 million
7-9¥2,558 million
Europe
1-3¥379 million
4-6¥389 million
7-9¥518 million
Thailand
1-3¥372 million
4-6¥431 million
7-9¥492 million
Medium-term management plan targets
Phase 2 target periodCumulative total for 2025–2027
Operating cash flow¥18.2–18.8 billion (before deducting research and development expenses)
Growth capital expenditure¥4,000 million
Maintenance and renewal capital expenditure¥4,000 million
Research and Development¥5,200 million
Dividend¥5,300–5,400 million
Financial targets
ROE target13〜16%
Actual ROE14.5% (third quarter of fiscal 2026)
Number of employees
Number of Employees508 consolidated, 292 non-consolidated
Capital expenditures
¥3,251 millions FY2026 forecast
Annual Dividend
Annual dividend per share¥110
Payout ratio
Rate35 % or higher
DOE4 % or higher
DOE_unit% or higher
Acquisition of treasury shares
Actual purchases¥1,292 million
Period2025
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Third quarter of the fiscal year ending December 2026 |
| Net Sales | ¥19,730 million (YoY +31.6%) |
| Operating profit | ¥6,696 million (YoY +57.6%) |
| Ordinary income | ¥6,796 million (YoY +55.8%) |
| Net income | ¥4,823 million (YoY +44.9%) |
| Gross Profit Margin | Rate 64.4% / Year-on-year change (points) Not disclosed |
| Operating profit margin | Rate 33.9% / Year-on-year change (points) Not disclosed |
| Selling, general and administrative expenses | ¥6,016 million |
| Results for the three months of the current quarter | Subject July–September 2026 / Net Sales ¥7,136 million / Operating profit ¥2,560 million / Operating profit margin 35.9% |
| Full-year earnings forecast | Net Sales ¥26,500 million / Operating profit ¥8,600 million / Ordinary income ¥8,700 million / Net income ¥6,100 million / Earnings per share ¥334.05 |
| Progress against full-year forecast | Net Sales 74.5% / Operating profit 77.9% / Ordinary income 78.1% / Net income 79.1% |
| Segment results | Regional sales Japan 1-3 ¥2,366 million / 4-6 ¥2,197 million / 7-9 ¥2,275 million / Taiwan 1-3 ¥1,115 million / 4-6 ¥1,212 million / 7-9 ¥1,290 million / China 1-3 ¥1,894 million / 4-6 ¥2,234 million / 7-9 ¥2,558 million / Europe 1-3 ¥379 million / 4-6 ¥389 million / 7-9 ¥518 million / Thailand 1-3 ¥372 million / 4-6 ¥431 million / 7-9 ¥492 million |
| Breakdown of Factors Affecting the Change | Net Sales Chemical product sales and volume ¥3,230 million / Etchants ¥328 million / Other Chemicals ¥79 million / Machinery sales ¥90 million / Materials sales ¥-176 million / Other sales ¥7 million / Foreign exchange impact ¥1,182 million / Operating profit Chemical product sales and volume ¥1,778 million / Chemical product gross profit margin ¥650 million / Machinery sales ¥21 million / Machinery gross profit margin ¥-14 million / Materials and other sales ¥-66 million / Materials and other gross profit margin ¥-19 million / Foreign exchange effects (gross profit) ¥1,014 million / Selling, general and administrative expenses ¥-640 million / Foreign exchange effects (SG&A expenses) ¥-274 million |
| Key KPIs | Indicator name Chemical sales / Value ¥19,361 million / Year on year against the same period last year ¥33 million, Indicator name Shipment volume / Value 41,596 ton / Year on year against the same period last year 19.4 ton, Indicator name Overseas sales ratio / Value 71.6 % / Year on year against the same period last year Not disclosed, Indicator name Revenue from major product EXE / Value Up 34.4% year on year, Indicator name Revenue from major product CZ / Value Up 31.7% year on year, Indicator name Revenue from major product V-Bond / Value Up 16.6% year on year, Indicator name Revenue from major product SF / Value Down 14.9% year on year |
| Unit price and quantity metrics | Shipment volume 41,596 ton (YoY +19.4%) / Price per share Not disclosed |
| Number of employees | Number of Employees 508 consolidated, 292 non-consolidated / Changes and hiring plans during the period Not disclosed |
| Assumptions Underlying the Business Outlook | Exchange rate NTD ¥4.96 / RMB ¥22.58 / THB ¥4.93 / EUR ¥183.65 / USD ¥156.45 |
| Medium-term management plan targets | Phase 2 target period Cumulative total for 2025–2027 / Operating cash flow ¥18.2–18.8 billion (before deducting research and development expenses) / Growth capital expenditure ¥4,000 million / Maintenance and renewal capital expenditure ¥4,000 million / Research and Development ¥5,200 million / Dividend ¥5,300–5,400 million |
| Financial targets | ROE target 13〜16% / Actual ROE 14.5% (third quarter of fiscal 2026) / Equity ratio Not disclosed / ROIC Not disclosed / Debt-to-equity ratio Not disclosed |
| Annual Dividend | Annual dividend per share ¥110 / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | Rate 35 % or higher / DOE 4 % or higher / DOE_unit % or higher |
| Acquisition of treasury shares | Buyback limit Not disclosed / Actual purchases ¥1,292 million / Period ¥2025 million |
| Capital expenditures | ¥3,251 millions (FY2026 forecast) |
| New initiatives | Construction of Phase 2 of the Kitakyushu Plant (investment of approximately ¥2 billion; operations scheduled to begin in fiscal 2028), Acquisition of land adjacent to the Nagaoka Plant (investment of approximately ¥2.3 billion), Commencement of operations at Phase 1 of the Kitakyushu Plant (scheduled for December 2026), Expansion of chemical adhesion treatment AP technology to PCB substrates and high-frequency substrates |
Items this document does not state (6)
Self-assessment against the planNumber of stores and locationsRisk amount incorporated into the outlookOrders 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.Higher chemical product sales and volumes, an improved gross margin on chemical products, and foreign exchange effects pushed up operating profit. Revenue growth was driven by higher sales of chemical products, machinery and materials, as well as foreign exchange effects.
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.
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