Toyo Seikan Group Holdings (5901) Q2 2027 earnings summary

Executive summary

• H1 FY2026 net sales rose 9.3% YoY and operating profit rose 15.4%; profit attributable to owners of parent fell 20.9%.

• Operating profit exceeded August guidance despite sales below forecast; FY2026 guidance projects sales growth but lower operating profit, ordinary profit and attributable profit YoY.

Financial highlights

• H1 net sales were ¥529,556 million, operating profit ¥34,811 million, ordinary profit ¥37,228 million and profit attributable to owners of parent ¥26,985 million.

• H1 EBITDA was ¥61.4bn; operating profit exceeded August guidance by ¥6.8bn despite sales ¥5.4bn below forecast, while attributable profit was ¥4.9bn above forecast.

• H1 basic EPS was ¥179.38, versus ¥222.01 in H1 FY2025; comprehensive income was ¥45,482 million, up 112.4% YoY.

• At September 30, 2026, total assets were ¥1,282,710 million, net assets ¥756,360 million and equity ratio 56.8%.

Outlook and guidance

• FY2026 forecast: net sales ¥1,035,000 million, operating profit ¥45,000 million, ordinary profit ¥47,500 million and attributable profit ¥36,000 million.

• Forecast YoY changes are +7.5% for sales, -13.5% for operating profit, -18.5% for ordinary profit and -34.5% for attributable profit; forecast basic EPS is ¥239.68.

• Sales forecast is ¥71.7bn above FY2025 but ¥5.0bn below August guidance; operating profit is ¥7.0bn below FY2025 and ¥7.0bn above August guidance.

• Second-half sales growth is expected from packaging price increases and battery materials, while higher raw material and energy prices are expected to weigh on profits.