Oji Holdings (3861) Q1 2026 earnings summary

Executive summary

• Net sales rose 4.4% year-over-year to ¥457.4 billion, driven by acquisitions and production recovery, but operating profit dropped by ¥10.8 billion to ¥3.7 billion.

• Ordinary profit turned negative at ¥-3.6 billion, impacted by foreign exchange losses and lower operating profit.

• Net loss attributable to owners was ¥-5.2 billion, reflecting restructuring expenses despite gains from asset sales.

• Segment results were restated due to reallocation of Walki and IPI and HQ expenses.

• Acquisitions and resumption of Pan Pac Forest Products Ltd. production contributed to sales growth.

Financial highlights

• Operating profit fell to ¥3.7 billion from ¥14.5 billion year-over-year.

• Ordinary profit decreased by ¥27.9 billion to ¥(3.6) billion.

• Profit attributable to owners of parent dropped by ¥22.9 billion to ¥(5.2) billion.

• EPS dropped to ¥-5.57 from ¥18.00 year-over-year.

• Comprehensive income swung to a loss of ¥-44.3 billion from a gain of ¥53.6 billion year-over-year.

Outlook and guidance

• Dividend forecast for FY2025 raised to ¥36/share, up ¥12/share from FY2024, maintaining a payout ratio around 51%.

• Full-year net sales forecast at ¥1,900 billion, up 2.7% year-over-year.

• Full-year operating profit projected at ¥75 billion, ordinary profit at ¥60 billion, and net profit at ¥65 billion.

• No change to previously announced forecasts; dividend payout ratio target raised to 50%.