JCU (4975) Q2 2025 earnings summary

Executive summary

• Net sales rose 17.2% year-over-year to ¥12,736 million for 1H FY3/25, with operating profit up 50.7% and profit attributable to owners of parent up 55.5%.

• Recovery in electronics and semiconductor markets in China, Taiwan, and South Korea drove chemicals sales growth, while Japan saw a decline due to design trend changes.

• Machine business sales increased as projects progressed, but new large project orders and backlog declined.

• The company launched a new medium-term management plan, “JCU VISION 2035-1st stage-,” focusing on growth markets, DX, and sustainability.

Financial highlights

• Net sales for 1H FY3/25 were ¥12,736 million, up 17.2% year-over-year; operating profit ¥4,665 million, ordinary profit ¥4,983 million, and net income per share ¥133.72.

• Gross profit margin improved as gross profit rose to ¥8,615 million from ¥6,582 million a year earlier.

• Profit attributable to owners of parent was ¥3,385 million, up 55.5% year-over-year.

• Cash and cash equivalents increased by ¥3,823 million to ¥28,410 million at period end.

Outlook and guidance

• Full-year FY3/25 forecasts: net sales ¥27,000 million, operating profit ¥8,500 million, ordinary profit ¥8,500 million, profit attributable to owners of parent ¥5,900 million, and EPS ¥232.90.

• Progress rates against full-year forecasts: net sales 47.2%, operating profit 54.9%, ordinary profit 58.6%, profit attributable to owners of parent 57.4%.

• No revisions to previously announced forecasts; management expects continued demand growth in electronics, especially for PWBs and semiconductor substrates.