Toyo Tanso (5310) Q1 2025 earnings summary

Executive summary

• Net sales for the three months ended March 31, 2025, were ¥11,475 million, down 8.7% year-over-year, with operating profit at ¥2,140 million (down 15.9%), ordinary profit at ¥1,885 million (down 38.0%), and profit attributable to owners of parent at ¥1,276 million (down 46.4%).

• The business environment saw stable demand in mobility and general industries, but electronics applications, especially silicon and SiC semiconductors, experienced weakened demand due to a market correction.

• The company focused on high-value-added solutions and productivity improvements to address changing market needs.

Financial highlights

• Gross profit for Q1 2025 was ¥4,389 million, with a gross margin of 38.3%, compared to ¥4,695 million and 37.4% in Q1 2024.

• Basic earnings per share for Q1 2025 was ¥60.88, down from ¥113.51 in Q1 2024.

• Comprehensive income for Q1 2025 was ¥33 million, a sharp decline from ¥3,410 million in Q1 2024.

Outlook and guidance

• Full-year 2025 forecast: net sales ¥52,000 million (+2.1% YoY), operating profit ¥10,000 million (+18.3%), ordinary profit ¥9,800 million (+27.3%), profit attributable to owners of parent ¥7,000 million (+29.7%), and EPS ¥333.77.

• No changes to previously announced forecasts; indirect impacts from US tariffs and other uncertainties are not incorporated.