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Osaka Gas (9532) investor relations material
Osaka Gas Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved steady progress in the first half of FY2026.3, with net sales for the six months at ¥959.1 billion (+1.0% YoY) and significant profit growth due to time-lag effects in raw material cost adjustments in the Domestic Energy Business.
Ordinary profit rose 46.7% to ¥105.4 billion, and profit attributable to owners of parent surged 86.7% to ¥94.8 billion year-over-year.
Revised upward the full-year forecast for FY2026.3, projecting a 10 billion yen increase in ordinary profit (excluding time-lag effects) and higher profit attributable to owners of parent.
Enhanced shareholder returns with a raised dividend on equity (DOE) from 3.0% to 3.5% and an annual dividend increase from 105 yen to 120 yen per share.
Ongoing share buyback program of up to 70 billion yen is progressing as scheduled, with treasury shares rising to 7.5 million.
Financial highlights
FY2026.3 2Q net sales: ¥959.1 billion (+1.0% YoY); ordinary profit: ¥105.4 billion (+46.7% YoY); profit attributable to owners of parent: ¥94.8 billion (+86.7% YoY).
EBITDA for 2Q: ¥169.0 billion (+29.3% YoY); EPS: ¥240.69 (+92.5% YoY).
Operating profit for the six months: ¥89.7 billion (+63.2% YoY).
Revised FY2026.3 full-year forecast: net sales ¥2,050.0 billion, ordinary profit ¥186.0 billion, profit attributable to owners of parent ¥142.0 billion.
ROIC forecast for FY2026.3: 5.7%; ROE: 8.4%.
Outlook and guidance
Upward revision of FY2026.3 forecasts, with ordinary profit expected to reach ¥186.0 billion (+¥21.0 billion from previous forecast), driven by strong U.S. business performance and expanded time-lag gains.
Net sales projected to decrease YoY due to lower gas unit prices, but profit attributable to owners of parent is expected to rise due to changes in profit recording from U.S. renewable energy business.
Earnings per share for the full year projected at ¥361.90, reflecting upward revision.
Dividend forecast raised to ¥120.00 per share for the year ending March 31, 2026.
Targeting ROIC of 5% and ROE of 8% by FY2027.3, with further profit growth anticipated.
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