Daicel (4202) Q2 2026 earnings summary

Executive summary

• Net sales for 1H FY2026/3 were ¥277.1bn, down 4.3% year-over-year, with operating income at ¥20.1bn, down 36.3%, reflecting a slowing global recovery and regional uncertainties, especially in China.

• Profit attributable to owners of parent fell 41.3% year-over-year to ¥18.8bn.

• Comprehensive income rose 15.8% year-over-year to ¥27,898 million, driven by gains in other comprehensive income.

• Results were significantly impacted by foreign exchange fluctuations, lower sales in key segments, and regional uncertainties.

• Revised full-year forecasts anticipate further declines in net sales and operating income compared to previous forecasts.

Financial highlights

• EBITDA for 1H FY2026/3 was ¥40.5bn, down 21.2% year-over-year.

• Gross profit for the period was ¥72,060 million, down from ¥84,003 million in the prior year.

• EPS for the six months was ¥70.90, compared to ¥116.18 in the same period last year.

• Total assets increased to ¥848,907 million as of September 30, 2025, up from ¥813,831 million at March 31, 2025.

• Operating cash flow decreased to ¥32.8bn, with free cash flow at ¥6.2bn.

Outlook and guidance

• Full-year net sales forecast revised to ¥583.0bn (down 2.8% from previous forecast), operating income to ¥46.5bn (down 13.9%).

• Profit attributable to owners of parent forecast at ¥50.0bn, down 7.4% from previous forecast.

• EPS for the full year is forecast at ¥188.33.

• Annual dividend forecast maintained at ¥60 per share; treasury stock buyback of up to ¥15bn planned.