Results for this period
Interim period (second quarter)1 February 2026 to 31 July 2026ConsolidatedJapanese GAAPThe 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. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
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.
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.
Revenue increased in both the separator business and the ion-exchange membrane business, driven by the start and expansion of sales for ESS applications, despite sluggish separator sales. Operating results improved due to higher sales volumes, changes in the sales mix, cost reductions, lower personnel expenses and depreciation, and a decrease in inventory valuation losses.
A description of material events, etc. is provided. Although the continuing operating losses have raised significant doubt about the going concern assumption, the company has determined that no material uncertainty exists.
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 February 2026 to 31 July 2026 |
| Net Sales | ¥1,928 million (YoY +32.9%) |
| Operating profit | ¥-1,388 million |
| Ordinary income | ¥-3,091 million |
| Profit attributable to owners of the parent | ¥-3,104 million |
| Net income per share | -¥51.62 |
| Equity ratio | End of the current fiscal period 79.6 / End of previous period 78.5 |
| Total assets | ¥49,281 million |
| Net assets | ¥39,317 million |
| Cash flows from operating activities | ¥366 million |
| Cash flows from investing activities | ¥395 million |
| Cash flows from financing activities | ¥-353 million |
| Cash and cash equivalents at end of period | ¥681 million |
| Full-year earnings forecast | Net Sales ¥6,000 million (YoY +65.2%) / Operating profit ¥-2,400 million / Ordinary income ¥-4,400 million / Profit attributable to owners of the parent ¥-4,400 million |
| Annual Dividend Forecast | ¥0 → ¥0（0.0%） |
| Segment revenue | Separator Business ¥1,131 million (YoY +133.5%), Ion-Exchange Membrane Business ¥796 million (YoY +132.1%) |
| Segment profit | Separator Business ¥-1,514 million, Ion-Exchange Membrane Business ¥520 million |
| Depreciation and amortization | ¥750 million |
| Impairment loss | No applicable matters. |
| Disclosure regarding the going concern assumption | A description of material events, etc. is provided. Although the continuing operating losses have raised significant doubt about the going concern assumption, the company has determined that no material uncertainty exists. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 companies / Excluded 0 companies / Company name None |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 60,625,500 Shares |
| Treasury Shares at Period-End | 300,618 Shares |
| Factors Behind Changes in Business Performance | Revenue increased in both the separator business and the ion-exchange membrane business, driven by the start and expansion of sales for ESS applications, despite sluggish separator sales. Operating results improved due to higher sales volumes, changes in the sales mix, cost reductions, lower personnel expenses and depreciation, and a decrease in inventory valuation losses. |
Items this document does not state (8)
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 results improved due to higher sales volumes of separators and ion-exchange membranes and changes in the sales mix, cost reductions centered on manufacturing costs, lower personnel expenses and depreciation, and a decrease in inventory valuation losses.