Taiheiyo Cement (5233) Q3 2025 earnings summary

Executive summary

• Net sales increased 3.3% year-over-year to 681.9 billion yen, with operating profit up 53.4% to 64.2 billion yen and profit attributable to owners of parent up 23.6 billion yen to 52.4 billion yen.

• Operating profit and net sales growth were driven by sales price hikes, cost improvements, and strong export performance in domestic and U.S. cement businesses.

• Extraordinary income improved significantly, contributing to higher profit before income taxes.

• The Japanese economy showed moderate recovery, but uncertainties remain due to global factors such as the Ukraine conflict and yen depreciation.

Financial highlights

• Net sales: 681.9 billion yen, up 21.7 billion yen year-over-year.

• Operating profit: 64.2 billion yen, up 22.3 billion yen year-over-year.

• Ordinary profit: 65.2 billion yen, up 21.4 billion yen year-over-year.

• Basic EPS: 455.5 yen, up 209.2 yen year-over-year.

• Interest-bearing debt increased by 17.1 billion yen to 387.6 billion yen as of Dec 31, 2024.

Outlook and guidance

• Fiscal 2025 forecast unchanged: net sales 915.0 billion yen, operating profit 78.0 billion yen, profit attributable to owners of parent 56.0 billion yen.

• Annual dividend forecast raised to 80 yen per share, up 10 yen year-over-year.

• Domestic cement demand revised to 33 million tons, reflecting a decrease from the previous year.

• Overseas subsidiary forecasts revised downward in November due to cost review and demand slowdown, especially in the U.S.