Dexerials (4980) Q3 2026 earnings summary

Executive summary

• Net sales for FY25Q3 (nine months ended December 31, 2025) reached 87.3 billion JPY, a 0.2% year-over-year increase, with business profit at 31.5 billion JPY, down 1.2% year-over-year.

• Operating profit for FY25Q3 was 30.5 billion JPY, down 7.3% year-over-year; profit attributable to owners was 21.3 billion JPY, a decrease of 8.9%.

• Growth in high-value-added products like optical semiconductors for data centers and pre-cut ACF for camera modules offset declines in legacy segments.

• FY25 full-year forecast remains unchanged, targeting 114.0 billion JPY in net sales and 39.0 billion JPY in business profit.

Financial highlights

• EBITDA for the quarter was 37.0 billion JPY, up 0.5% year-over-year; basic earnings per share was 126.23 yen, reflecting a 3-for-1 stock split.

• Net profit attributable to owners was 21.3 billion JPY, a decrease of 8.9% year-over-year.

• Total assets increased to 155.5 billion JPY, and total equity rose to 101.9 billion JPY as of December 31, 2025.

• Gross profit margin remained stable, with gross profit at 49.8 billion JPY.

• Earnings per share for the quarter was 126.23 yen, down 7.2% year-over-year (stock split adjusted).

Outlook and guidance

• FY25 forecast: net sales of 114.0 billion JPY (+3.3% YoY), business profit of 39.0 billion JPY (+2.4% YoY), operating profit of 39.0 billion JPY (-1.9% YoY), and EPS of 153.69 yen.

• Profit attributable to owners of parent forecast at 26.0 billion JPY (-6.3% YoY).

• Dividend per share planned at 58 yen, with a total payout ratio of 58.2%.

• No change to guidance despite memory price surges and intensified competition in China’s automotive market.