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DIC (4631) investor relations material
DIC Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Net sales for the first nine months of FY2025 were ¥785.9 billion, down 2.7% year-over-year, while operating income rose 18.9% to ¥40.5 billion and net income attributable to owners of the parent more than doubled to ¥21.7 billion, driven by improved profitability, cost management, and lower extraordinary losses.
EBITDA for the nine months was ¥77.9 billion, up 19.7% year-over-year, reflecting improved profitability despite lower sales.
Profitability gains were supported by price adjustments, improved product mix, and structural reforms, especially in the Color & Display segment.
Extraordinary income increased due to gains from the sale of shares and withdrawal from the liquid crystal materials business, while extraordinary losses decreased with the absence of prior-year divestiture-related losses.
Earnings per share (basic) rose to ¥229.52 from ¥112.29 year-over-year.
Financial highlights
Operating margin improved to 5.2% from 4.2% year-over-year.
Gross profit increased to ¥174.1 billion from ¥170.0 billion year-over-year, with operating income up to ¥40.5 billion from ¥34.0 billion.
Free cash flow increased to ¥25.9 billion for the nine months.
Net interest-bearing debt decreased to ¥413.3 billion, and the net D/E ratio improved to 1.01.
Shareholders’ equity rose to ¥410.5 billion, with an equity ratio of 33.5%.
Outlook and guidance
Full-year forecasts remain unchanged: net sales of ¥1,060.0 billion, operating income of ¥50.0 billion, and net income attributable to owners of the parent of ¥24.0 billion.
EBITDA for the full year is projected at ¥99.0 billion, up 3.5% from the prior year.
Annual dividend forecast is maintained at ¥200.00 per share, with a payout ratio of 78.9%.
ROIC and ROE targets for FY2025 are 4.3% and 5.9%, respectively.
No revision to previously published forecasts.
Impact of LC materials exit on profitability?
Color & Display segment profit drivers?
Future impact of global minimum tax rules?
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