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Zeon (4205) investor relations material
Zeon Q1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 FY2026 consolidated net sales reached ¥109.5B (+6% YoY), operating income ¥16.3B (+34% YoY), ordinary income ¥18.8B (+57% YoY), and net income ¥12.7B (+69% YoY).
Comprehensive income surged 399% YoY to ¥25.3B, reflecting strong operational and financial performance.
Growth was driven by strong shipments in specialty materials, especially battery materials and COP, and improved profitability in both specialty and elastomer segments.
Financial highlights
Net sales increased by ¥6.4B YoY and ¥7.2B QoQ; operating income rose by ¥4.2B YoY and ¥7.5B QoQ.
Gross profit increased to ¥37.2B from ¥33.5B YoY; ordinary profit jumped 57.4% YoY to ¥18.8B.
Basic earnings per share increased to ¥66.43 from ¥38.06 YoY.
Total assets grew to ¥603.3B as of June 30, 2026, up from ¥548.2B at the previous fiscal year-end.
Non-operating income included dividend income and exchange gains; extraordinary items had minimal impact.
Outlook and guidance
FY2026 full-year forecast: net sales ¥405.0B, operating income ¥38.0B (+5% YoY), ordinary income ¥37.0B (-8% YoY), net income ¥36.0B (-1% YoY).
Outlook remains cautious due to geopolitical risks (Strait of Hormuz, Bab el-Mandeb), raw material volatility, and economic uncertainty.
Dividend forecast maintained at ¥79/share (+¥3 YoY), with a DOE target of at least 4%.
- Net income surged 38.3% on specialty materials and cost cuts; higher dividends are forecast.4205
Q4 202613 May 2026 - Q1 saw strong sales and profit growth, prompting upward revisions to H1 and full-year guidance.4205
Q1 202511 Mar 2026 - Operating and net income surged despite lower sales, driven by cost controls and asset gains.4205
Q2 202611 Mar 2026 - Strong profit growth and revised guidance, with major share buyback and new COP investments planned.4205
Q2 202511 Mar 2026 - Net sales and operating profit rose YoY, net profit dipped, but full-year outlook was raised.4205
Q3 202511 Mar 2026 - Strong operating growth in FY2024, but FY2025 outlook is cautious amid currency and market risks.4205
Q4 202511 Mar 2026 - Operating profit surged despite lower sales, driven by robust battery materials and cost controls.4205
Q1 202611 Mar 2026 - Operating and net income surged on specialty materials strength and extraordinary gains.4205
Q3 202611 Mar 2026
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