Worth reading
75Important
Scored from 4 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
83
¥100 million (year-on-year increase in net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFirst quarter of the fiscal year ending March 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales465 Hundreds of millions of yen+21.8%
Operating profit17 Hundreds of millions of yen-39.9%
Ordinary income30 Hundreds of millions of yen-2.8%
Net income46 Hundreds of millions of yen+166.2%
Operating profit margin3.7 %
Results for the three months of the current quarter
Period CoveredApril 2026 to June 2026
Net Sales
465 Hundreds of millions of yen
EBITDA
39 Hundreds of millions of yen
Operating profit
17 Hundreds of millions of yen
Ordinary income
30 Hundreds of millions of yen
Profit attributable to owners of parent for the quarter
46 Hundreds of millions of yen
Full-year earnings forecast
Net Sales
1,980 Hundreds of millions of yen
EBITDA
220 Hundreds of millions of yen
Operating profit
130 Hundreds of millions of yen
Ordinary income
140 Hundreds of millions of yen
Profit attributable to owners of the parent
105 Hundreds of 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.
First-quarter EBITDAChanges in sales volumes (including crude steel production), selling prices and raw material spreads, sales mix, cost reductions, labor costs, domestic group companies, overseas group companies, foreign exchange, other factors, Insulation Materials, Advanced Equipment, and Engineering (Reframax: down ¥400 million; standalone: down ¥100 million)
First-quarter operating profitIn addition to the decline in EBITDA, higher amortization of goodwill and other assets and depreciation expenses
Full-year outlookChanges in refractory product sales volumes, selling prices and raw material spreads, sales mix, cost reductions, labor costs, domestic group companies, overseas group companies, foreign exchange, Insulation Materials, Advanced Equipment, Engineering, and other factors
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Passing through to prices the increase in raw material and fuel costs in the Refractories segment during the second half
- Resolution of the impact of equipment troubles at certain overseas affiliates
- Completion within the fiscal year of delayed Reframax projects
- Expansion in demand, mainly in semiconductor-related fields
New initiatives
- Expand sales of high-value-added products and services
- Develop markets and expand sales by leveraging the global network
- Execute construction projects at Reframax and pass through cost increases to prices
- Expand the semiconductor manufacturing equipment-related business
- Pursue projects involving carbon-neutral-related facilities
- Expand the refractory recycling business
Key KPIsA metric the company considers important as a management benchmark.
- EBITDA margin8.6 %yoy_change_pt-2.9
- ROS (operating margin)3.7 %yoy_change_pt-3.9
- ROIC3.1 %yoy_change_pt-2
- Debt/EBITDA multiple2 timesyoy_change-1
- Overseas revenue ratio43.5 %yoy_change_pt10.9
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Domestic crude steel production
2,035 10,000 tonnes+1.0%
Refractory product sales volumeIncrease (Not disclosed)
Segment results
- RefractoriesNet Sales301 Hundreds of millions of yen (YoY +14.9%)EBITDA37 Hundreds of millions of yen (YoY +8.6%)Operating profit22 Hundreds of millions of yen (YoY +1.5%)
- Insulation materialsNet Sales41 Hundreds of millions of yen (YoY +6.9%)EBITDA6 Hundreds of millions of yen (YoY -11.2%)Operating profit4 Hundreds of millions of yen (YoY -18.7%)
- Advanced equipment and materialsNet Sales11 Hundreds of millions of yen (YoY +21.0%)EBITDA0 Hundreds of millions of yen (YoY +96.8%)Operating profit0 Hundreds of millions of yen
- EngineeringNet Sales114 Hundreds of millions of yen (YoY +57.5%)EBITDA-4 Hundreds of millions of yenOperating profit-9 Hundreds of millions of yen
- OtherNet Sales0 Hundreds of millions of yenEBITDA0 Hundreds of millions of yen
Medium-term management plan targets
Sixth Medium-Term Management Plan45% full-year overseas revenue ratio
Financial targets
Actual results
- ROIC3.1 %
- Debt/EBITDA multiple2 times
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | 465 Hundreds of millions of yen (YoY +21.8%) |
| Operating profit | 17 Hundreds of millions of yen (YoY -39.9%) |
| Ordinary income | 30 Hundreds of millions of yen (YoY -2.8%) |
| Net income | 46 Hundreds of millions of yen (YoY +166.2%) |
| Operating profit margin | 3.7 % |
| Results for the three months of the current quarter | Period Covered April 2026 to June 2026 / Net Sales 465 Hundreds of millions of yen / EBITDA 39 Hundreds of millions of yen / Operating profit 17 Hundreds of millions of yen / Ordinary income 30 Hundreds of millions of yen / Profit attributable to owners of parent for the quarter 46 Hundreds of millions of yen |
| Full-year earnings forecast | Net Sales 1,980 Hundreds of millions of yen / EBITDA 220 Hundreds of millions of yen / Operating profit 130 Hundreds of millions of yen / Ordinary income 140 Hundreds of millions of yen / Profit attributable to owners of the parent 105 Hundreds of millions of yen |
| Segment results | Segment Refractories / Net Sales 301 Hundreds of millions of yen (YoY +14.9%) / EBITDA 37 Hundreds of millions of yen (YoY +8.6%) / Operating profit 22 Hundreds of millions of yen (YoY +1.5%), Segment Insulation materials / Net Sales 41 Hundreds of millions of yen (YoY +6.9%) / EBITDA 6 Hundreds of millions of yen (YoY -11.2%) / Operating profit 4 Hundreds of millions of yen (YoY -18.7%), Segment Advanced equipment and materials / Net Sales 11 Hundreds of millions of yen (YoY +21.0%) / EBITDA 0 Hundreds of millions of yen (YoY +96.8%) / Operating profit 0 Hundreds of millions of yen, Segment Engineering / Net Sales 114 Hundreds of millions of yen (YoY +57.5%) / EBITDA -4 Hundreds of millions of yen / Operating profit -9 Hundreds of millions of yen, Segment Other / Net Sales 0 Hundreds of millions of yen / EBITDA 0 Hundreds of millions of yen |
| Breakdown of Factors Affecting the Change | First-quarter EBITDA Changes in sales volumes (including crude steel production), selling prices and raw material spreads, sales mix, cost reductions, labor costs, domestic group companies, overseas group companies, foreign exchange, other factors, Insulation Materials, Advanced Equipment, and Engineering (Reframax: down ¥400 million; standalone: down ¥100 million) / First-quarter operating profit In addition to the decline in EBITDA, higher amortization of goodwill and other assets and depreciation expenses / Full-year outlook Changes in refractory product sales volumes, selling prices and raw material spreads, sales mix, cost reductions, labor costs, domestic group companies, overseas group companies, foreign exchange, Insulation Materials, Advanced Equipment, Engineering, and other factors |
| Key KPIs | 8.6 %, 3.7 %, 3.1 %, 2 times, 43.5 % |
| Unit price and quantity metrics | Domestic crude steel production 2,035 10,000 tonnes (YoY +1.0%) / Refractory product sales volume Increase (Not disclosed) |
| Assumptions Underlying the Business Outlook | Passing through to prices the increase in raw material and fuel costs in the Refractories segment during the second half, Resolution of the impact of equipment troubles at certain overseas affiliates, Completion within the fiscal year of delayed Reframax projects, Expansion in demand, mainly in semiconductor-related fields |
| Medium-term management plan targets | Sixth Medium-Term Management Plan 45% full-year overseas revenue ratio |
| Financial targets | Actual results 3.1 %, 2 times / Target Not disclosed |
| New initiatives | Expand sales of high-value-added products and services, Develop markets and expand sales by leveraging the global network, Execute construction projects at Reframax and pass through cost increases to prices, Expand the semiconductor manufacturing equipment-related business, Pursue projects involving carbon-neutral-related facilities, Expand the refractory recycling business |
Items this document does not state (14)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders 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.Revenue increased due to higher sales volumes in the Refractories segment, increased revenue from overseas affiliates, higher revenue in the Insulation Materials and Advanced Equipment segments, and the consolidation effect of Reframax. On the earnings front, higher raw material and fuel costs due to the situation in the Middle East, equipment troubles at certain overseas affiliates, delays in projects for major Reframax customers, and cost increases caused by inflation reduced earnings. Operating profit was affected by higher amortization of goodwill and other assets, ordinary profit by foreign exchange gains, and net income by gains on the sale of fixed assets associated with the compulsory acquisition of land at the Kwinana plant.
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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