Worth reading
46Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-33.8
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales83,389¥ millionYear on year -6.3%
Operating profit4,400¥ millionYear on year -33.8%
Ordinary income4,739¥ millionYear on year -24.6%
Net income attributable to owners of the parent2,847¥ millionYear on year -33.1%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit.
Net income per share¥40.01
Operating Margin5.3％
Financial position at period-end
Total assets129,697¥ million
of which net assets 60,128 ¥ millionEquity ratio 46.4%vs. prior year-end -0.4pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+11,051
Investment-14,124
Financials+2,097
Net change-976
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥3,647 million
Segment revenue
Metallic titanium business54,42965.3%-17.0%
Catalyst Business11,92214.3%+11.6%
Chemicals Business17,03620.4%+33.9%
Segment profit
Metallic titanium business4,38259.4%-39.2%
Catalyst Business2,84438.5%+17.7%
Chemicals Business1552.1%+1,053.0%
Outlook and shareholder returns
Full-year earnings forecast
Net SalesNot disclosed
Operating profitNot disclosed
Ordinary incomeNot disclosed
Net incomeNot disclosed
ReasonNo earnings forecast is provided for the fiscal year ending March 2027 because the Company is scheduled to be delisted
Annual Dividend Forecast¥18.00 (actual for the fiscal year ending March 2026) → not disclosed (no forecast is provided for the fiscal year ending March 2027)
Payout ratio45.0％
Factors Behind Changes in Business Performance
The metallic titanium business reported lower sales and income due to lower sales of sponge titanium exported for aircraft applications, excess supply of sponge titanium by Chinese manufacturers, and price adjustments linked to exchange-rate fluctuations and market conditions. By contrast, the catalyst business reported higher sales and income as demand recovered, while the chemicals business reported higher sales and income as demand recovered after the effects of China's economic stagnation and other factors bottomed out.
Disclosure regarding the going concern assumption
No applicable matters
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 Yes見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 companies / Excluded 0 companies / Company name No
Material subsequent eventsAn agreement for a share exchange under which JX Metals will become the Company's wholly owning parent and the Company will become its wholly owned subsidiary was approved. The Company's shares are scheduled to be delisted on 28 May 2026, and the share exchange is scheduled to take effect on 1 June 2026. The exchange ratio is 0.70 shares of JX Metals common stock for each common share of the Company.
Breakdown of extraordinary income (loss)Extraordinary income Item Subsidy Income / Amount ¥94 million, Item Gain on sale of non-current assets / Amount ¥0 million / Extraordinary loss Item Loss on Disposal of Fixed Assets / Amount ¥423 million, Item Loss on sale of fixed assets / Amount ¥253 million, Item Loss on reduction of fixed assets / Amount ¥113 million
Depreciation and amortization¥6,137 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingNone (for institutional investors and analysts)
Issued Shares at Period-End71,270,910 shares
Treasury Shares at Period-End84,813 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥83,389 million (YoY -6.3%) |
| Operating profit | ¥4,400 million (YoY -33.8%) |
| Ordinary income | ¥4,739 million (YoY -24.6%) |
| Profit attributable to owners of the parent | ¥2,847 million (YoY -33.1%) |
| Net income per share | ¥40.01 |
| Operating Margin | 5.3％ |
| Equity ratio | End of the current fiscal period 46.4％ / End of previous period 46.8％ |
| Total assets | ¥129,697 million |
| Net assets | ¥60,128 million |
| Cash flows from operating activities | ¥11,051 million |
| Cash flows from investing activities | ¥-14,124 million |
| Cash flows from financing activities | ¥2,097 million |
| Cash and cash equivalents at end of period | ¥3,647 million |
| Full-year earnings forecast | Net Sales Not disclosed / Operating profit Not disclosed / Ordinary income Not disclosed / Net income Not disclosed / Reason No earnings forecast is provided for the fiscal year ending March 2027 because the Company is scheduled to be delisted |
| Annual Dividend Forecast | ¥18.00 (actual for the fiscal year ending March 2026) → not disclosed (no forecast is provided for the fiscal year ending March 2027) |
| Payout ratio | 45.0％ |
| Segment revenue | Segment Metallic titanium business / Net Sales ¥54,429 million / Year on year against the same period last year -17, Segment Catalyst Business / Net Sales ¥11,922 million / Year on year against the same period last year 11.6, Segment Chemicals Business / Net Sales ¥17,036 million / Year on year against the same period last year 33.9 |
| Segment profit | Segment Metallic titanium business / Segment profit ¥4,382 million / Year on year against the same period last year -39.2, Segment Catalyst Business / Segment profit ¥2,844 million / Year on year against the same period last year 17.7, Segment Chemicals Business / Segment profit ¥155 million / Year on year against the same period last year not disclosed (loss of ¥1,053 million in the previous year) |
| Depreciation and amortization | ¥6,137 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Item Subsidy Income / Amount ¥94 million, Item Gain on sale of non-current assets / Amount ¥0 million / Extraordinary loss Item Loss on Disposal of Fixed Assets / Amount ¥423 million, Item Loss on sale of fixed assets / Amount ¥253 million, Item Loss on reduction of fixed assets / Amount ¥113 million |
| Disclosure regarding the going concern assumption | No applicable matters |
| Change in accounting policy | Changes due to revisions to standards No / Other changes Yes / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 companies / Excluded 0 companies / Company name No |
| Material subsequent events | An agreement for a share exchange under which JX Metals will become the Company's wholly owning parent and the Company will become its wholly owned subsidiary was approved. The Company's shares are scheduled to be delisted on 28 May 2026, and the share exchange is scheduled to take effect on 1 June 2026. The exchange ratio is 0.70 shares of JX Metals common stock for each common share of the Company. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | None (for institutional investors and analysts) |
| Issued Shares at Period-End | 71,270,910 shares |
| Treasury Shares at Period-End | 84,813 shares |
| Factors Behind Changes in Business Performance | The metallic titanium business reported lower sales and income due to lower sales of sponge titanium exported for aircraft applications, excess supply of sponge titanium by Chinese manufacturers, and price adjustments linked to exchange-rate fluctuations and market conditions. By contrast, the catalyst business reported higher sales and income as demand recovered, while the chemicals business reported higher sales and income as demand recovered after the effects of China's economic stagnation and other factors bottomed out. |
Items this document does not state (5)
Revision to Earnings ForecastShareholder Return PolicyRegional salesOrders received and order backlogImpairment loss
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.In the metallic titanium business, lower sales and income reflected inventory adjustments for aircraft-related products stemming from quality issues and a strike at Boeing, excess supply of sponge titanium by Chinese manufacturers, overproduction of polypropylene in China, and price adjustments linked to exchange-rate fluctuations and market conditions. Imported raw material and electricity prices also remained high. By contrast, the catalyst and chemicals businesses reported higher sales and income as demand recovered.
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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