Revised forecast
Fiscal year ending March 2027 · Six months (cumulative) and full yearPrevious forecast published 14 May 2026The bar length represents the relative magnitude of change, based on the item that changed the most in this document.
Tungsten prices are expected to remain high, and the impact of the moving-average method is expected to be reflected progressively in manufacturing costs toward the second half. Given the assumed decline in sales volumes from the second quarter onward following inventory build-ups by some customers before the August product price revision, the second half was estimated cautiously. The effect of the price revision is included in the forecast, while factors that are difficult to estimate reasonably, such as the effects of reviewing sales terms and implementing sales initiatives, are not included, resulting in a conservative estimate.
| Item | Details |
|---|---|
| Net Sales | Not disclosed → Consolidated / cumulative second quarter 5,420 / Consolidated - full year 10,570 / Non-consolidated / cumulative second quarter 4,600 / Non-consolidated - full year 9,000 |
| Operating profit | Not disclosed → Consolidated / cumulative second quarter 990 / Consolidated - full year 1,170 / Non-consolidated / cumulative second quarter Not disclosed / Non-consolidated - full year Not disclosed |
| Ordinary income | Not disclosed → Consolidated / cumulative second quarter 1,010 / Consolidated - full year 1,180 / Non-consolidated / cumulative second quarter 910 / Non-consolidated - full year 930 |
| Profit attributable to owners of the parent | Not disclosed → Consolidated, first six months (interim net income) 650 / Consolidated, full fiscal year (net income) 780 / Non-consolidated, first six months (interim net income) 640 / Non-consolidated, full fiscal year (net income) 650 |
| Net income per share | Not disclosed → Consolidated, first six months (interim net income) 27.65 / Consolidated - full year 33.16 / Non-consolidated / cumulative second quarter 27.23 / Non-consolidated - full year 27.63 |
| Fiscal Period Covered | Fiscal year ending March 2027 |
| Period Covered | Six months (cumulative) and full year |
| Publication date of previous forecast | 14 May 2026 |
| Previous-period results | Consolidated / cumulative second quarter Net Sales 4,591 / Operating profit 761 / Ordinary income 783 / Interim net income attributable to owners of the parent 543 / Interim net income per share 21.81 / Consolidated - full year Net Sales 9,494 / Operating profit 1,959 / Ordinary income 2,011 / Profit attributable to owners of the parent 1,442 / Net income per share 58.38 / Non-consolidated / cumulative second quarter Net Sales 3,896 / Ordinary income 676 / Interim net income 495 / Interim net income per share 19.85 / Non-consolidated - full year Net Sales 8,277 / Ordinary income 1,623 / Net income for the current fiscal year 1,207 / Net income per share 48.88 |
| Reason for the revision | Tungsten prices are expected to remain high, and the impact of the moving-average method is expected to be reflected progressively in manufacturing costs toward the second half. Given the assumed decline in sales volumes from the second quarter onward following inventory build-ups by some customers before the August product price revision, the second half was estimated cautiously. The effect of the price revision is included in the forecast, while factors that are difficult to estimate reasonably, such as the effects of reviewing sales terms and implementing sales initiatives, are not included, resulting in a conservative estimate. |
| Dividend forecast revision | The previous dividend forecast was undetermined. The company has now announced an interim dividend of ¥15.00, a year-end dividend of ¥15.00, and an annual dividend of ¥30.00. The annual dividend is the same as the previous fiscal year's actual dividend. |
| Consolidated / non-consolidated | Consolidated/non-consolidated |
Items this document does not state (1)
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.The second half was estimated cautiously because tungsten prices are expected to remain high and the impact of the moving-average method is expected to be reflected progressively in manufacturing costs toward the second half, while sales volumes from the second quarter onward are assumed to decline following inventory build-ups by some customers before the August price revision. The effect of the price revision is included in the forecast, but the effects of reviewing sales terms and implementing sales initiatives are not included, resulting in a conservative estimate. The dividend was set at the same level as in the previous fiscal year, taking into account the continuation of stable dividends, the future recovery of earnings power, and a sound financial base.