Dowa Holdings (5714) Q1 2026 earnings summary

Executive summary

• Net sales for FY2025 Q1 declined 15% year-over-year to ¥160.1B, with operating income down 45% to ¥6.4B and ordinary income down 40% to ¥8.6B.

• Profit attributable to owners of parent fell 46% year-over-year to ¥6.4B.

• Comprehensive income dropped 80.8% to ¥3.1B from the prior year period.

• Full-year forecasts remain unchanged, projecting net sales of ¥692.0B and operating income of ¥24.0B.

• Dividend forecast for the year is ¥159 per share, unchanged from the previous year.

Financial highlights

• FY2025 Q1 net sales decreased by ¥28.8B year-over-year; operating income dropped by ¥5.2B.

• Gross profit for the quarter was ¥19.9B, down from ¥25.3B year-over-year.

• Basic earnings per share for the quarter were ¥107.50, down from ¥197.89 year-over-year.

• Total assets as of June 30, 2025, were ¥649.5B, with net assets at ¥410.0B.

• Exchange rate averaged 144.6 ¥/$ in Q1 FY2025, stronger yen compared to 155.9 ¥/$ in Q1 FY2024.

Outlook and guidance

• FY2025 full-year guidance: net sales ¥692.0B, operating income ¥24.0B, ordinary income ¥34.0B, profit attributable to owners of parent ¥27.0B.

• Segment forecasts unchanged since May 13, 2025.

• Sensitivity: ¥490M operating income impact per ¥1/$ exchange rate change; zinc price most impactful among metals.

• Dividend forecast for the year is ¥159 per share, unchanged from the previous year.