JCU (4975) Q3 2025 earnings summary

Executive summary

• Net sales for 3Q FY3/25 rose 20.5% year-over-year to ¥20,732 million, with operating profit up 41.8% and net income up 46.5% compared to the same period last year.

• Strong recovery in demand for chemicals in China, Taiwan, and South Korea, driven by the electronics and semiconductor sectors; Japan saw a decline due to design trend changes.

• Machine Business sales increased substantially, though new large project orders and backlog declined.

• The electronics industry saw a recovery in demand, especially for high-performance electronic devices, while the automotive sector remained flat in China.

Financial highlights

• Operating profit reached ¥7,636 million, up 41.8% year-over-year; ordinary profit was ¥7,954 million, up 41.2%.

• Net income per share rose to ¥217.29 from ¥146.69 year-over-year.

• Gross profit margin improved as gross profit rose to ¥13,571 million from ¥10,674 million year-over-year.

• Total assets increased to ¥51,260 million, and net assets to ¥45,016 million, with an equity ratio of 87.8%.

• Overseas sales ratio for chemicals remained high, with overseas markets accounting for 76-81% of sales.

Outlook and guidance

• 3Q progress rates against full-year forecasts: net sales 74.0%, operating profit 76.4%, ordinary profit 75.8%, net income 76.2%.

• Full-year forecast revised in February 2025: net sales ¥28,000 million, operating profit ¥10,000 million, net income per share ¥285.68.

• The company is implementing a new medium-term management plan, focusing on investments in growth markets, digital transformation, and sustainability.