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Toray Industries (3402) investor relations material
Toray Industries Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the first six months ended September 2025 declined 4.6% year-over-year to JPY 1,234.3 billion, with core operating income down 14.2% to JPY 67.9 billion and profit attributable to owners of parent down 33.5% to JPY 36.9 billion, despite exceeding initial forecasts.
The business environment showed gradual recovery but was impacted by uncertainties from U.S. policy shifts, global trade tensions, and mixed economic trends in major regions.
Share buybacks totaling JPY 100 billion were completed, with an additional JPY 50 billion buyback authorized in November 2025.
Financial highlights
Core operating income margin decreased from 6.1% to 5.5% year-over-year.
Free cash flow for the six months was JPY 24.2 billion, down from JPY 65.4 billion the previous year.
Capital expenditures for the period were JPY 67.1 billion, a decrease of JPY 21.3 billion year-over-year.
Basic earnings per share for the first half was JPY 24.23, with a forecasted full-year EPS of JPY 54.16.
Total assets increased to JPY 3,351 billion, and equity ratio stood at 51.2%.
Outlook and guidance
Full-year revenue is forecast to rise 2.6% to JPY 2,630.0 billion, with core operating income expected to increase to JPY 150.0 billion and profit attributable to owners of parent projected at JPY 82.0 billion.
Dividend per share is expected to increase to JPY 20.00 for the year.
Assumed exchange rate for the second half is JPY 145 per U.S. dollar.
Global and Japanese economies are expected to continue gradual recovery, but risks remain from U.S. trade policies, geopolitical tensions, and Chinese economic stagnation.
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