Daicel (4202) Q2 2027 earnings summary

Executive summary

• H1 FY2027/3 net sales rose 12.6% YoY to ¥311,993m and operating profit increased 41.8% to ¥28,525m.

• Full-year forecasts were raised to net sales of ¥647,000m, operating profit of ¥50,500m and parent-attributable profit of ¥41,000m after H1 exceeded plan.

Financial highlights

• Ordinary profit rose 38.4% to ¥28,200m; parent-attributable profit fell 1.9% to ¥18,452m, partly reflecting lower extraordinary income than the prior-year ¥5,077m gain on investment-security sales.

• EBITDA increased 23.4% YoY to ¥49.9bn; gross profit was ¥82,903m versus ¥72,060m, while SG&A was ¥54,377m versus ¥51,939m.

• Comprehensive income declined to ¥21,888m from ¥27,898m YoY.

Outlook and guidance

• FY2027/3 forecast: net sales ¥647,000m (+11.6%), operating profit ¥50,500m (+20.0%), ordinary profit ¥50,000m (+10.8%) and parent-attributable profit ¥41,000m (+302.7%).

• Revised forecasts exceed May guidance by ¥52.0bn in sales, ¥8.0bn in operating profit and ¥9.0bn in parent-attributable profit.

• Revised full-year ROE is 11.3%, ROIC 5.0%, ROA 4.9% and EPS ¥160.35; forecast USD/JPY is ¥157 versus ¥150 in the initial forecast.

• 2H performance is expected below the initial forecast as raw-material costs rise beyond assumptions; strategic POM pricing is expected to support sales expansion while weighing on profit.