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Presentation materials on financial results5233TAIHEIYO CEMENT CORPORATIONConstruction and Materials

FY2026 First-Quarter Financial Results Presentation

In the first quarter of FY2026, consolidated revenue and operating profit increased, driven by the full-year contribution from higher domestic cement prices, improved earnings at subsidiaries, and higher profits at overseas subsidiaries and other businesses. Meanwhile, profits declined in the Environmental and Building Materials, Architecture and Civil Engineering businesses.

Worth reading
74In 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
10728
¥ million (year-on-year increase in consolidated net sales)
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials on financial resultsFY2026 First Quarter12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥221,919 million
Operating profit¥11,462 million
Ordinary income¥12,309 million
Net income¥8,346 million profit attributable to owners of the parent
Operating profit margin5.2 %
Results for the three months of the current quarter
Net Sales
¥221,919 million
Operating profit
¥11,462 million
Ordinary income
¥12,309 million
Net income
¥8,346 million profit attributable to owners of the parent
Full-year earnings forecast
Net Sales
10,270 Hundred millions of yen
Operating profit
760 Hundred millions of yen
Ordinary income
700 Hundred millions of yen
Profit attributable to owners of the parent
630 Hundred millions of yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Domestic cement revenueDomestic volume variance: ▲¥2.6 billion, export volume variance: +¥0.2 billion, domestic price variance: +¥2.3 billion, export price variance: +¥1.1 billion, ready-mixed concrete and other: +¥2.9 billion
Domestic cement operating incomeDomestic volume variance: ▲¥1.5 billion, export volume variance: ¥0, domestic price variance: +¥1.8 billion, export price variance: +¥0.3 billion, variable costs at the Company: ▲¥0.4 billion, fixed costs at the Company: ▲¥1.5 billion, ready-mixed concrete and other: +¥2.1 billion
Total domestic cement operating profit+¥775 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Domestic cement demand2,900 10,000 tonnes
  • Average procurement price of imported coal and other fuels in Japan155 C&F $/t
  • Average Exchange Rate¥157 /$
  • Foreign exchange sensitivity¥0.3 hundred million impact on operating profit per ¥1 depreciation
New initiatives
  • Plan to acquire the cement sales business rights from Tokuyama Corporation (preparations underway for closing on 1 October 2026)
  • Acquisition of assets and other items for Vulcan Materials Company's U.S. ready-mixed concrete business for $712 million (acquisition completed on 5 June 2026)
  • Plan to expand the Stockton terminal silo
  • Commenced cement exports from Indonesia to the United States
Key KPIsA metric the company considers important as a management benchmark.
  • Quarterly earnings per share¥75.7
    Year on year against the same period last year+14.5%
  • Book value per share¥6,186
    Year on year against the same period last year+87.9%
  • Equity ratio42.4 %
    Year on year against the same period last year-3.6%
  • Net debt-to-equity ratio0.54 times
    Year on year against the same period last year+0.1%
  • Average Exchange Rate¥157 /$
    Year on year against the same period last year+4.4%
  • Domestic average procurement price of imported coal and other materials145 C&F $/t
    Year on year against the same period last year+5.0%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Domestic cement sales volume2,611 thousand tonnes
    Year on year against the same period last year-192.0%
  • Cement export sales volume929 thousand tonnes
    Year on year against the same period last year+38.0%
  • U.S. cement sales volume1,299 thousand tonnes
    Year on year against the same period last year-35.0%
  • U.S. ready-mixed concrete sales volume1,173 千cy
    Year on year against the same period last year+35.0%
  • U.S. aggregates sales volume2,747 thousand tonnes
    Year on year against the same period last year-174.0%
Segment results
Domestic cement
Net Sales
¥82,664 million
yoy_change3,835
Operating profit
¥3,892 million
yoy_change775
Overseas cement subsidiaries and other businesses
Net Sales
¥81,119 million
yoy_change3,712
Operating profit
¥2,083 million
yoy_change755
Total cement
Net Sales
¥163,784 million
yoy_change7,547
Operating profit
¥5,975 million
yoy_change1,529
Resources
Net Sales
¥23,096 million
yoy_change597
Operating profit
¥2,731 million
yoy_change199
Environment
Net Sales
¥20,815 million
yoy_change1,755
Operating profit
¥1,872 million
yoy_change-116
Construction materials and civil engineering
Net Sales
¥10,092 million
yoy_change-340
Operating profit
¥88 million
yoy_change-279
Other
Net Sales
¥19,147 million
yoy_change1,584
Operating profit
¥834 million
yoy_change92
Consolidated
Net Sales
¥221,919 million
yoy_change10,728
Operating profit
¥11,462 million
yoy_change1,402
Medium-term management plan targets
Shareholder Returns
Total payout ratioAt least 33%
Dividend per shareAt least ¥80
Sale of shares heldPlan to sell approximately 20% of domestic listed shares during the period of the 26 Medium-Term Plan. Approximately 7% completed by the first quarter of FY2026
Market Size / Share
Usage as a percentage of domestic recycled waste and by-productsApproximately 10%
Number of employees
Consolidated12,626 People
Standalone1,783 People
Record date31 March 2026
Annual Dividend
¥120 per share
Interim60
End of period60
Payout ratio
Total payout ratio36.9% (FY2026 forecast)
Three years of the 26 Medium-Term PlanExpected to be 40.0% over the three years of the 26 Medium-Term Plan
Acquisition of treasury shares
¥100 100 million fiscal 2026 plan
Contents of this document
ItemDetails
Document typePresentation materials on financial results
Fiscal Period CoveredFY2026 First Quarter
Net Sales¥221,919 million
Operating profit¥11,462 million
Ordinary income¥12,309 million
Net income¥8,346 million (profit attributable to owners of the parent)
Operating profit margin5.2 %
Results for the three months of the current quarterNet Sales ¥221,919 million / Operating profit ¥11,462 million / Ordinary income ¥12,309 million / Net income ¥8,346 million (profit attributable to owners of the parent)
Full-year earnings forecastNet Sales 10,270 Hundred millions of yen / Operating profit 760 Hundred millions of yen / Ordinary income 700 Hundred millions of yen / Profit attributable to owners of the parent 630 Hundred millions of yen
Segment resultsDomestic cement Net Sales ¥82,664 million / Operating profit ¥3,892 million / Overseas cement subsidiaries and other businesses Net Sales ¥81,119 million / Operating profit ¥2,083 million / Total cement Net Sales ¥163,784 million / Operating profit ¥5,975 million / Resources Net Sales ¥23,096 million / Operating profit ¥2,731 million / Environment Net Sales ¥20,815 million / Operating profit ¥1,872 million / Construction materials and civil engineering Net Sales ¥10,092 million / Operating profit ¥88 million / Other Net Sales ¥19,147 million / Operating profit ¥834 million / Consolidated Net Sales ¥221,919 million / Operating profit ¥11,462 million
Breakdown of Factors Affecting the ChangeDomestic cement revenue Domestic volume variance: ▲¥2.6 billion, export volume variance: +¥0.2 billion, domestic price variance: +¥2.3 billion, export price variance: +¥1.1 billion, ready-mixed concrete and other: +¥2.9 billion / Domestic cement operating income Domestic volume variance: ▲¥1.5 billion, export volume variance: ¥0, domestic price variance: +¥1.8 billion, export price variance: +¥0.3 billion, variable costs at the Company: ▲¥0.4 billion, fixed costs at the Company: ▲¥1.5 billion, ready-mixed concrete and other: +¥2.1 billion / Total domestic cement operating profit +¥775 million
Key KPIsQuarterly earnings per share ¥75.7, Book value per share ¥6,186, Equity ratio 42.4 %, Net debt-to-equity ratio 0.54 times, Average Exchange Rate ¥157 /$, Domestic average procurement price of imported coal and other materials 145 C&F $/t
Unit price and quantity metricsDomestic cement sales volume 2,611 thousand tonnes, Cement export sales volume 929 thousand tonnes, U.S. cement sales volume 1,299 thousand tonnes, U.S. ready-mixed concrete sales volume 1,173 千cy, U.S. aggregates sales volume 2,747 thousand tonnes
Number of employeesConsolidated 12,626 People / Standalone 1,783 People / Record date 31 March 2026
Assumptions Underlying the Business OutlookDomestic cement demand 2,900 10,000 tonnes, Average procurement price of imported coal and other fuels in Japan 155 C&F $/t, Average Exchange Rate ¥157 /$, Foreign exchange sensitivity ¥0.3 hundred million (impact on operating profit per ¥1 depreciation)
Medium-term management plan targetsShareholder Returns Total payout ratio At least 33% / Dividend per share At least ¥80 / Sale of shares held Plan to sell approximately 20% of domestic listed shares during the period of the 26 Medium-Term Plan. Approximately 7% completed by the first quarter of FY2026
Annual Dividend¥120 per share
Payout ratioTotal payout ratio 36.9% (FY2026 forecast) / Three years of the 26 Medium-Term Plan Expected to be 40.0% over the three years of the 26 Medium-Term Plan
Acquisition of treasury shares¥100 100 million (fiscal 2026 plan)
Market Size / ShareUsage as a percentage of domestic recycled waste and by-products Approximately 10%
New initiativesPlan to acquire the cement sales business rights from Tokuyama Corporation (preparations underway for closing on 1 October 2026), Acquisition of assets and other items for Vulcan Materials Company's U.S. ready-mixed concrete business for $712 million (acquisition completed on 5 June 2026), Plan to expand the Stockton terminal silo, Commenced cement exports from Indonesia to the United States
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsRisk amount incorporated into the outlookFinancial targetsCapital expendituresOrders received and order backlogKey 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.

Operating profit increased in domestic cement due to the full-year contribution from higher selling prices and improved subsidiary earnings, and at overseas subsidiaries and other businesses due to price increases, cost reductions and other factors. In the Environmental business, lower volumes handled in the transfer operations for soil generated by linear construction projects, and in the Building Materials, Architecture and Civil Engineering businesses, weak sales and higher costs including freight and personnel expenses, reduced profit.

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FY2026 First-Quarter Financial Results Presentation | TAIHEIYO CEMENT CORPORATION (5233) timely disclosure | Komori