JX Advanced Metals (5016) Q3 2026 earnings summary

Executive summary

• Operating profit for FY2025 1Q–3Q rose to 124.8 billion yen, up 45% year-over-year, driven by strong sales in focus businesses and higher copper prices, excluding one-off factors from the prior year.

• Revenue/net sales increased 19% year-over-year to 614.5 billion yen for the nine months ended December 31, 2025.

• Net profit attributable to owners of parent surged 73% year-over-year to 79.6 billion yen.

• Basic earnings per share increased to 85.88 yen from 49.58 year-over-year.

• Upward revision of full-year operating profit forecast to 150.0 billion yen and dividend forecast raised to 27 yen per share.

Financial highlights

• Gross profit increased to 141.1 billion yen from 113.3 billion yen year-over-year.

• Share of profit from investments using equity method rose to 67.6 billion yen from 40.2 billion yen year-over-year.

• Total comprehensive income attributable to owners of parent was 71.1 billion yen, up from 56.7 billion yen year-over-year.

• Operating profit margin improved to 18.3% (forecast), with focus businesses at 13.7%.

• ROE forecasted at 14.3%, and net debt/EBITDA ratio improved to 1.4x.

Outlook and guidance

• Full-year revenue/net sales forecast raised to 820.0 billion yen, with operating profit forecast at 150.0 billion yen.

• Profit attributable to owners of parent forecasted at 93.0 billion yen; basic EPS forecasted at 100.35.

• Dividend forecast revised to 27 yen per share and 109.55 yen per share for the fiscal year ending March 31, 2026.

• Assumptions updated to 145 JPY/USD and LME copper price of 500¢/lb.

• Dividend policy targets a payout ratio of ~20%, with additional returns if copper prices exceed assumptions.