Komori

Earnings Presentation Materials for the First Half of the Fiscal Year Ending March 2027

Results presentationFirst half, FY ending Mar 2027Published 2026-11-11 16:30

In the second quarter of the fiscal year ending March 2027, revenue, operating profit and ordinary profit increased due to revised selling prices and firm demand. However, interim net income decreased because the gain on sales of investment securities recorded in the previous year was absent.

In short

Forecast raised
  • Revenue, supported by revised selling prices and firm demand, increased 6.8% year on year to ¥27,424 million.
  • Operating profit increased 19.0% year on year to ¥2,774 million, due to the impact of price revisions and cost controls.
  • Interim net income decreased 5.4% year on year to ¥2,775 million, due mainly to the absence of gains on sales of investment securities.

What they reported

this period against the same period a year earlier, and where they now expect the year to end

Sales

¥27.4bn+6.7%vs a year earlier
H1 FY26¥25.7bnH1 FY27¥27.4bn
FY25FY26FY27 · this year121314¥bnQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4−4%+18%this yearvs same quarter last yearnew forecast14.5 a quarterold forecast12.4 a quarterlast year
Sales by quarter
Period¥bn
FY25 Q113.3
FY25 Q214.5
FY25 Q314.2
FY25 Q413.5
FY26 Q113.4
FY26 Q212.3
FY26 Q313.1
FY26 Q412.4
FY27 Q112.9
FY27 Q214.5
last year 51.2
was 52.2
now 56.5
Full-year forecast, ¥bn+8.2% vs the old forecast
Old and new forecast from the company's results releases
Why

Despite the impact of removing a Chinese joint venture from the scope of consolidation, revenue increased on revised selling prices and firm demand.

売上高は、中国合弁会社を連結範囲から除外し持分法適用関連会社化※したものの、販売価格の改定と堅調な需要に支えられ増収。
Revenue increased, supported by revised selling prices and firm demand, despite the Chinese joint venture being removed from the scope of consolidation and becoming an equity-method affiliate*.
Forecast

The full-year revenue forecast was raised by ¥4,300 million from the previous forecast.

Operating profit

¥2.8bn+19.1%vs a year earlier
H1 FY26¥2.3bnH1 FY27¥2.8bn
FY25FY26FY27 · this year112¥bnQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4+6%+31%this yearvs same quarter last yearnew forecast1.2 a quarterlast yearold forecast0.6 a quarter
Operating profit by quarter
Period¥bn
FY25 Q11.1
FY25 Q21.5
FY25 Q31.4
FY25 Q41.0
FY26 Q11.2
FY26 Q21.2
FY26 Q31.5
FY26 Q40.7
FY27 Q11.2
FY27 Q21.6
last year 4.5
was 4.1
now 5.2
Full-year forecast, ¥bn+28.4% vs the old forecast
Old and new forecast from the company's results releases
Why

Operating profit increased due to the impact of price revisions and cost controls.

営業利益は、価格改定効果に加え、コスト抑制に努め増益。
Operating profit increased due to the impact of price revisions and efforts to control costs.
Forecast

The full-year operating profit forecast was raised by ¥1,150 million from the previous forecast.

Ordinary profit

¥3.4bn+18.1%vs a year earlier
H1 FY26¥2.9bnH1 FY27¥3.4bn
FY25FY26FY27 · this year122¥bnQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4+8%+29%this yearvs same quarter last yearnew forecast1.2 a quarterlast year
Ordinary profit by quarter
Period¥bn
FY25 Q11.6
FY25 Q21.5
FY25 Q31.9
FY25 Q41.1
FY26 Q11.5
FY26 Q21.4
FY26 Q31.9
FY26 Q40.8
FY27 Q11.6
FY27 Q21.8
last year 5.7
now 5.8
Full-year forecast, ¥bnthe first forecast for this year
Forecast from this deck (no earlier forecast on record)
Why

Equity in earnings of affiliates increased in addition to the increase in operating profit.

経常利益は、営業利益の増加に加え、持分法投資利益の増加により増益。
Ordinary profit increased due to higher operating profit and increased equity in earnings of affiliates.
Forecast

The full-year ordinary profit forecast was raised by ¥650 million from the previous forecast.

Net profit

¥2.8bn−5.4%vs a year earlier
H1 FY26¥2.9bnH1 FY27¥2.8bn
FY25FY26FY27 · this year012¥bnQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4−36%+65%this yearvs same quarter last yearnew forecast1.0 a quarterold forecast0.6 a quarterlast year
Net profit by quarter
Period¥bn
FY25 Q11.4
FY25 Q21.1
FY25 Q31.3
FY25 Q40.5
FY26 Q12.1
FY26 Q20.9
FY26 Q31.6
FY26 Q40.3
FY27 Q11.3
FY27 Q21.5
last year 4.8
was 3.9
now 4.8
Full-year forecast, ¥bn+23.1% vs the old forecast
Old and new forecast from the company's results releases
Why

Interim net income decreased due mainly to the absence of gains on sales of investment securities.

中間純利益は、投資有価証券売却益の剥落などにより減益。
Interim net income decreased due mainly to the absence of gains on sales of investment securities.
Forecast

The full-year net income forecast was raised by ¥900 million from the previous forecast.

Dividend

cash paid per share for the year, and how much of profit that is
¥130+18 yenper share
last year¥112FY27 plan¥130
34.7% of profit paid as dividends
target 30%

Payout worked out from the FY27 forecast dividend and forecast EPS.

Maintain a stable payout ratio of 30% or higher

Their own numbers

figures this company chose to report, a year ago against now
Consolidated headcount
865 people

As of the end of September 2026, the consolidated headcount was 865.

Japan revenue mix
40 %

Japan accounted for 40% of the revenue mix in the second quarter of the fiscal year ending March 2027.

North and South America revenue mix
44 %

North and South America accounted for 44% of the revenue mix in the second quarter of the fiscal year ending March 2027.

Southeast Asia and India revenue mix
16 %

Southeast Asia and India accounted for 16% of the revenue mix in the second quarter of the fiscal year ending March 2027.

The low–high ranges are Komori's estimate, not figures the company gave.

Everything else in the deck

By business

bar = share of sales · rows = operating profit and change vs a year earlier
Japan 40%
sales ¥11.0bn +12.6%
profit ¥0.8bn +133.6%
North and South America 44%
sales ¥12.2bn +11.4%
profit ¥1.7bn −2.2%
Southeast Asia/India 16%
sales ¥4.3bn +21.2%
profit ¥0.6bn +41.9%

What moved

change vs a year earlier, by the company's own breakdown
Operating income
Sales Volumes+¥0.3bn
Selling Prices+¥1.2bn
Raw Material Prices−¥0.9bn
Expenses, foreign currency translation and other−¥0.2bn
Bar colour is the direction of the amount (red = up, teal = down).

New initiatives

what they said they're starting
  • The company successfully achieved mass synthesis of the high-purity cyclodextrin derivative CDTS, enabling mass production.
  • The company is conducting joint research and development with the Railway Technical Research Institute on lubricants for rails and wheels.
  • The company is rolling out its floor glass coating for floors in shopping centers and railway cars.
  • The company began selling its washing machine tub cleaner in Malaysia and Vietnam.

What decks usually leave out

COMPUTED = worked out by Komori from reported numbers; the rest are stated in this deck

Progress toward the full-year forecast

share of the year's target already earned, against the same point in past years
Computed
53%of the operating profit forecast earned
with 50% of the year gone: ahead of every one of the last 4 years at this point
50% of the year gone
FY23
35%
FY24
49%
FY25
52%
FY26
52%
FY27
53%
how much of the year has gonepast-year average at this point (47%)

¥2.8bn earned of the ¥5.2bn forecast. Against the old forecast (¥4.1bn) it would be 68%.

The rest of the year has to bring in ¥2.4bn, +7 pts off the usual pace.

Progress toward the full-year forecast
Period%
FY2335%
FY2449%
FY2552%
FY2652%
FY2753%

Margins and overheads

where each ¥100 of sales goes
Computed
a year ago9.1%now10.1%

Financial targets

the last five years against the target (green band), where one is stated
Computed
Return on equity9.7%
profit earned on shareholders' money
Aim to maintain ROE at 10% or higher on a stable basis
0.3 pts away, drifting further
-1%6%12%targetFY22FY23FY24FY25FY26FY27FY22: 0.8%FY23: 2.5%FY24: 7.6%FY25: 9.9%FY26: 10.3%FY27: 9.7% (forecast)9.7%
Return on equity
Period%
FY220.8
FY232.5
FY247.6
FY259.9
FY2610.3
FY279.7
Equity ratio73.3%
how much of the balance sheet is owned outright
−0.2 pts on last year
60%68%75%FY22FY23FY24FY25FY26FY27FY22: 61.5%FY23: 61.6%FY24: 64.7%FY25: 68.5%FY26: 73.5%FY27: 73.3%73.3%
Equity ratio
Period%
FY2261.5
FY2361.6
FY2464.7
FY2568.5
FY2673.5
FY2773.3
Payout ratio34.7%
share of profit paid as dividends
4.7 pts away, drifting further
28%135%241%targetFY22FY23FY24FY25FY26FY27FY22: 239.2%FY23: 30.3%FY24: 31.7%FY25: 30.8%FY26: 30.9%FY27: 34.7% (forecast)34.7%
Payout ratio
Period%
FY22239.2
FY2330.3
FY2431.7
FY2530.8
FY2630.9
FY2734.7

Yearly figures are computed by Komori from J-Quants results data (ROE = net profit ÷ average equity). The last point is this year's forecast or latest figure. Targets show only when this deck states them.

Assumptions behind the forecast

what they expect for the rest of the year, against what's happened so far
Exchange rate
assumed 158 Yen/dollar · so far 151 Yen/dollar
so far
assumed

Mid-term plan targets

Medium-Term Management Plan
Operating cash flow over the medium-term management plan periodThree-year medium-term management plan period¥13.2bn
ROEConsistently above 10%10%
Dividend payout ratioConsolidated Payout Ratio of at Least 30%30%

Headcount

people against what they produce
865peopleas of 2026/09

Not mentioned in this deck

9
Capital spendingShare buybackSelf-rating against planRisks priced into the forecastOrders and backlogPrice and volumeStore or site countMarket size and shareInvestor Q&A
Earnings Presentation Materials for the First Half of the Fiscal Year Ending March 2027 | Yushiro Inc. (5013) timely disclosure | Komori