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Tokyo Ohka Kogyo (4186) investor relations material

Tokyo Ohka Kogyo Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary11 Nov, 2025

Executive summary

  • Net sales for the first nine months ended September 30, 2025, rose 17.9% year-over-year to 172.8 billion yen, driven by strong demand for generative AI-related products, PC replacements, and semiconductors, offsetting weak smartphone growth.

  • Operating income increased 37.2% year-over-year to 31.9 billion yen, reflecting higher sales and improved product mix.

  • Profit attributable to owners of parent surged 41.1% year-over-year to 22.1 billion yen, aided by extraordinary income from a gain on contingent consideration related to an equipment business transfer.

  • The company launched a new three-year medium-term plan aiming for global leadership in photoresists and expansion in all business fields.

Financial highlights

  • Net sales: 172.8 billion yen (up 17.9% YoY); operating income: 31.9 billion yen (up 37.2% YoY); ordinary income: 32.8 billion yen (up 36.3% YoY); EBITDA: 38.2 billion yen (up 29.9% YoY).

  • Gross profit for the first nine months was 64.4 billion yen, up from 53.0 billion yen year-over-year.

  • Basic earnings per share for the period was 184.28 yen, up from 129.08 yen in the prior year.

  • Comprehensive income rose 40.7% year-over-year to 24.9 billion yen.

  • Electronic functional materials sales grew 14.9% YoY; high-purity chemicals up 21.2% YoY.

Outlook and guidance

  • Full-year net sales forecast at 227.0 billion yen (up 13.0% YoY); operating income forecast at 40.0 billion yen (up 20.9% YoY), both expected to reach record highs.

  • Profit attributable to owners of parent is forecast at 26.5 billion yen, with basic EPS of 220.99 yen.

  • Continued strong demand anticipated for generative AI and new customer plant operations.

  • Exchange rate assumption for 2H 2025: ¥140.0/$.

  • Dividend policy targets 4.0% DOE; annual dividend forecasted at 70 yen, marking eight consecutive years of growth.

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Frequently asked questions

Tokyo Ohka Kogyo Co., Ltd. is a Japanese company that specializes in the development and manufacturing of high-precision chemical products and equipment used in the semiconductor industry. The company is renowned for its photoresists and photolithography-related chemicals, essential materials in the fabrication of semiconductor devices. TOK's product lineup also includes coating, developing, and vacuum UV hardening machines, as well as materials and equipment used in the production of MEMS, image sensors, LCD and OLED panels, and advanced semiconductor packaging. TOK's technologies are applied across a variety of industries, including mobile devices, personal computers, automotive electronics, and renewable energy. The company is headquartered in Kawasaki, Japan, and its shares are listed on the Tokyo Stock Exchange.

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