Toagosei (4045) Q3 2025 earnings summary

Executive summary

• Net sales for the nine months ended September 30, 2025, were ¥119,863 million, down 2.8% year-over-year; 3Q FY2025 net sales were ¥39,519 million, down 5.4% year-over-year.

• Operating income for the nine months was ¥10,607 million, down 1.4% year-over-year; 3Q operating income rose 4.3% to ¥3,589 million, with a 9.1% margin.

• Net income attributable to owners of parent fell 23.8% year-over-year to ¥8,002 million for the nine months, and dropped 34.2% in 3Q to ¥2,281 million.

• Toagosei Chemical India Private Limited was newly consolidated from March 2025; Elmer's & Toagosei was dissolved in August 2025.

• The company focused on sales expansion, cost reductions, and investments in manufacturing, R&D, and overseas bases.

Financial highlights

• Net income per share for 1-3Q FY2025 was ¥72.99, down 20.8% year-over-year.

• Ordinary profit for the nine months was ¥11,149 million, down 8.2% year-over-year; 3Q ordinary profit increased 7.9% to ¥3,652 million.

• Non-operating and extraordinary income/losses swung from a gain of ¥2,394 million to a loss of ¥80 million, mainly due to lower gains on sales of investment securities and increased losses on disposal of non-current assets.

• Gross profit for the period was ¥34,591 million, up slightly from ¥34,052 million year-over-year.

• Depreciation expense increased to ¥8,093 million from ¥7,716 million year-over-year.

Outlook and guidance

• Fiscal 2025 full-year net sales forecast is ¥162,500 million, a 3.0% decrease year-over-year.

• Operating income forecast is ¥14,000 million, down 1.6% year-over-year.

• Net income attributable to owners of parent is forecast at ¥12,200 million, up 2.7% year-over-year.

• Dividend forecast for fiscal 2025 is ¥65.00 per share, up from ¥60.00 in the previous year.

• The company maintains its performance forecast, citing uncertainty in the economic outlook.