Koa Shoji Holdings (9273) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended March 31, 2026, increased by 4.0% year-over-year to ¥18,334 million, reaching 71.3% of the full-year forecast, with operating profit up 4.5% to ¥4,580 million and profit attributable to owners rising 3.1% to ¥3,052 million.

• Comprehensive income grew 3.5% year-over-year to ¥3,047 million for the nine-month period.

• Growth was driven by the API segment, with new products gaining market share and generics volume expanding.

• Manufacture and sales of pharmaceuticals saw solid demand for pre-filled syringes and antitumor vials, but tablet sales declined due to increased competition.

Financial highlights

• Gross profit rose to ¥6,344 million from ¥6,002 million year-over-year, while operating profit increased to ¥4,580 million from ¥4,381 million.

• Ordinary profit reached ¥4,551 million, up 3.0% year-over-year.

• Basic earnings per share for the nine months was ¥72.47, compared to ¥70.27 in the prior year.

• Dividend per share increased to ¥18, with a payout ratio above 20%.

• Depreciation decreased by 11.7%, while R&D expenses rose by 10.8%.

Outlook and guidance

• Full-year FY2026 net sales forecast: ¥25,700 million, up 10.4% year-over-year; operating profit forecast: ¥5,430 million, up 1.4%; profit attributable to owners of parent of ¥3,640 million, up 0.1%.

• Long-term target: ¥40,000 million in net sales and ¥8,000 million in operating profit by FY2030.

• ROE target of 12% or higher.

• Annual dividend forecast is ¥18.00 per share, unchanged from the previous forecast.