Toyobo Co (3101) Q2 2027 earnings summary

Executive summary

• H1 FY3/27 net sales rose 7.1% YoY to ¥218.5bn; operating profit increased 37.9% to ¥16.3bn, led by Films and Environmental and Functional Materials.

• Profit attributable to owners of parent fell 40.6% to ¥3.4bn, primarily reflecting ¥6.5bn of pharmaceutical contract-manufacturing impairment losses.

Financial highlights

• Gross profit rose 10.1% to ¥55.8bn; gross margin was 25.5% versus 24.8% in H1 FY3/26.

• Ordinary profit increased 50.1% to ¥15.1bn; EBITDA rose 28.9% to ¥30.5bn.

• Profit before income taxes was ¥7.8bn, total profit ¥5.2bn, and comprehensive income ¥4.0bn; net profit per share was ¥38.58 versus ¥64.98 a year earlier.

Outlook and guidance

• FY3/27 forecasts: net sales ¥440.0bn, operating profit ¥27.0bn, ordinary profit ¥22.1bn, attributable profit ¥4.0bn and EPS ¥45.32; operating profit guidance rose from ¥23.0bn while attributable profit guidance fell from ¥7.0bn.

• Annual dividend forecast remains ¥40 per share, with no revision.

• FY3/27 forecasts include EBITDA of ¥55.0bn, depreciation of ¥28.0bn, CAPEX of ¥20.5bn and R&D expenses of ¥15.0bn.

• H2 forecast: net sales ¥221.5bn and operating profit ¥10.7bn, versus ¥217.5bn and ¥16.1bn in H2 FY2026.