JL Mag Rare-Earth (300748) Q3 2025 earnings summary

Executive summary

• 9M revenue reached ¥5.37bn, up 7.16% YoY; attributable net income was ¥515.5m, up 161.81%, amid expanding capacity and stronger sales volumes.

• Adjusted 9M attributable net income rose 381.94% YoY to ¥430.1m, while reported gross margin increased 9.46 percentage points to 19.49%.

Financial highlights

• Q3 revenue was ¥1.87bn, up 12.91% YoY; attributable net income was ¥210.5m, up 172.65%, and adjusted net income was ¥196.1m, up 254.98%.

• 9M operating profit was ¥571.8m versus ¥220.3m YoY; net income was ¥524.3m versus ¥200.6m, including ¥8.8m attributable to minority interests.

• 9M revenue was ¥5.37bn versus ¥5.01bn YoY; attributable net income was ¥515.5m and adjusted attributable net income was ¥430.1m.

• 9M operating cash flow was -¥199.0m versus +¥207.1m a year earlier, mainly reflecting increased raw-material purchases.

Outlook and guidance

• Q4 orders on hand were described as sufficient.

• New capacity was being steadily released with adequate utilization, supporting continued market expansion and operating-efficiency initiatives.