Chugoku Marine Paints (4617) Q4 2026 earnings summary

Executive summary

• Net sales increased by 6.3% year-over-year to ¥139.4 billion, reaching a record high for the third consecutive year, driven by strong marine coatings sales and price optimization.

• Operating profit rose 13.4% year-over-year to ¥17.4 billion, with profitability boosted by higher selling prices and increased sales of high-value-added products.

• Profit attributable to owners of parent declined 19.9% year-over-year to ¥10,995 million, mainly due to the absence of prior-year asset sale gains.

• Comprehensive income decreased 3.4% year-over-year to ¥18,994 million.

Financial highlights

• Gross profit increased to ¥46,780 million from ¥42,599 million year-over-year, with gross margin improving by 1.1pt to 33.6%.

• EBITDA grew 12.9% to ¥19.3 billion.

• Basic earnings per share dropped 19.9% to ¥221.66 due to non-recurring gains in the prior year.

• Total assets rose to ¥157,560 million, and net assets increased to ¥101,780 million as of March 31, 2026.

• Cash and cash equivalents at period end: ¥38.1 billion, up from ¥32.2 billion.

Outlook and guidance

• FY2026 net sales forecasted at ¥140–160 billion, reflecting steady demand but high uncertainty in raw material costs due to Middle East tensions.

• Only net sales guidance provided; other forecasts undetermined pending further clarity.

• Planned annual dividend of ¥100 per share, up ¥3 year-over-year, with FY2026 total annual dividend at ¥111.00 per share including a special dividend.