Resonac (4004) Q1 2026 earnings summary

Executive summary

• Core operating profit more than doubled year-on-year, driven by strong growth in Semiconductor and Electronic Materials, supported by robust AI-related demand and structural reforms in Chemicals.

• Back-end Semiconductor Materials subsegment achieved record quarterly revenue.

• Upward revision to first half 2026 forecast, especially for Semiconductor and Electronic Materials, reflecting stronger-than-expected growth.

• Revenue for Q1 2026 was JPY 307.9 billion, down 4.1% year-on-year, mainly due to declines in Crasus Chemical and the transfer of FIAMM Energy Technology.

• Profit attributable to owners rose 74.6% year-on-year to JPY 15.3 billion, driven by higher operating profit.

Financial highlights

• Q1 FY2026 revenue was JPY 307.9 billion, down JPY 13.2 billion year-on-year.

• Core operating profit rose 2.3-fold year-on-year to JPY 33.6 billion, up JPY 18.8 billion.

• EBITDA margin improved to 18.2% from 12.0% year-on-year.

• Net income attributable to owners was JPY 15.3 billion, up JPY 6.5 billion year-on-year.

• Basic EPS was JPY 84.44, up from JPY 48.44 in Q1 2025.

Outlook and guidance

• First half 2026 revenue forecast revised up to JPY 660 billion and core operating profit to JPY 74 billion, representing 7% and 40% increases over previous forecasts.

• Full-year 2026 forecast remains unchanged due to Middle East uncertainties.

• Full-year 2026 revenue forecast: JPY 1,310,000 million; core operating profit: JPY 140,000 million; profit attributable to owners: JPY 77,000 million.

• 1H 2026 forecast revised upward on May 13, 2026.

• EBITDA margin for first half forecast at 18.1%, or 21.8% excluding Crasus Chemical.