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Toto (5332) investor relations material
Toto Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
First half of FY2025 saw declines in both sales and profits, mainly due to lower volumes and increased costs in the Japan Housing Equipment Business and restructuring in Mainland China.
Net sales for the six months ended September 30, 2025, were ¥349,372 million, down 1.8% year-over-year.
Operating profit declined 13.9% year-over-year to ¥20,781 million.
Profit attributable to owners of parent dropped 48.1% year-over-year to ¥8,790 million.
New Business Domains, especially the Advanced Ceramics Business, delivered significant sales and profit growth, driven by strong semiconductor market demand.
Financial highlights
Net sales for 1H FY2025 were ¥349.4 billion, down 2% year-over-year; operating profit was ¥20.8 billion, down 14%.
Gross profit for the period was ¥123,625 million, down from ¥125,939 million year-over-year.
Ordinary profit increased slightly by 1.8% to ¥23,089 million.
Profit attributable to owners of parent dropped to ¥8.8 billion, a 48% decrease year-over-year, impacted by extraordinary losses from China restructuring.
Advanced Ceramics Business posted 137% sales growth and 142% profit growth year-over-year.
Outlook and guidance
Full-year FY2025 plan revised downward: net sales now expected at ¥734.5 billion (down ¥19.0 billion from previous plan), operating profit at ¥49.0 billion (down ¥3.5 billion).
Full-year net sales forecast for FY ending March 31, 2026, is ¥734,500 million, up 1.4% year-over-year.
Profit attributable to owners of parent is forecast at ¥29,000 million, a 138.3% increase year-over-year.
Dividend forecast remains unchanged at ¥100 per share for the full year.
Japan Housing Equipment Business outlook lowered due to weaker-than-expected remodeling and new housing sales.
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