Dexerials (4980) Q1 2026 earnings summary

Executive summary

• FY25Q1 net sales were 26.1 billion JPY, down 3.8% YoY, with business profit at 7.8 billion JPY, both declining due to higher fixed costs and yen appreciation; excluding FX, sales were flat but profits declined in growth domains like optical semiconductors.

• The end of Phosphor films sales was offset by growth in Anti-reflection films (ARF), optical semiconductors, and high-value-added products.

• Profit attributable to owners of parent decreased 16.8% YoY to 5,565 million JPY.

• The annual earnings forecast remains unchanged despite ongoing business environment uncertainty.

Financial highlights

• Net sales decreased 3.8% YoY to 26,140 million JPY; excluding FX, sales rose 0.7%.

• Business profit fell 17.7% YoY to 7,899 million JPY; operating profit dropped 18.3% to 7,985 million JPY.

• Net profit declined 16.8% YoY to 5,565 million JPY; EPS was 33.14 Yen, down 15%.

• EBITDA decreased 13.7% YoY to 9,667 million JPY; EBITDA margin fell 4.2 points to 37.0%.

• Total assets increased to 154,993 million JPY, while total equity decreased slightly to 95,508 million JPY.

Outlook and guidance

• FY25 full-year forecast: net sales 103.5 billion JPY, business profit 29.0 billion JPY, profit attributable to owners of parent 20.5 billion JPY, and EPS 120.25 Yen, all unchanged from prior guidance.

• Full-year profit expected to decrease YoY, with H1 performance projected to be lower due to inventory effects and market uncertainty.

• Dividend per share forecast at 58.0 Yen, with a total payout ratio of 73.2%.