TYK (5363) Q4 2026 earnings summary

Executive summary

• Revenue decreased by 1.4% year-over-year to ¥31,484 million, with operating income down 23.6% to ¥3,441 million and ordinary income down 15.2% to ¥4,268 million.

• Net income attributable to shareholders rose 19.5% year-over-year to ¥3,740 million, driven by non-operating and extraordinary gains.

• The domestic refractory market remained stable, but overseas segments, especially North America and Asia, saw demand declines.

Financial highlights

• Gross profit fell to ¥8,302 million from ¥9,135 million year-over-year.

• Comprehensive income surged to ¥7,793 million, up 156.1% year-over-year, mainly due to valuation gains on securities.

• Cash and equivalents at year-end increased to ¥14,323 million, up ¥770 million from the previous year.

• Total assets rose to ¥66,994 million, and net assets to ¥54,015 million, with equity ratio improving to 70.4%.

Outlook and guidance

• FY2027 revenue is forecast at ¥31,770 million (+0.9% YoY), with operating income of ¥3,550 million (+3.0%) and net income of ¥4,530 million (+21.2%).

• Special gain of ¥2,097 million from securities sale is expected in FY2027, contingent on a specific transaction.

• Management expects continued uncertainty due to global economic and geopolitical risks, with domestic steel demand likely to remain soft.