Taiyo Holdings (4626) Q4 2026 earnings summary

Executive summary

• Net sales rose 16% year-over-year to ¥137,851 million for FY2026/3, driven by strong demand in electronics and medical segments, with operating income up 47% to ¥32,529 million and net income up 123% to ¥24,011 million.

• Comprehensive income increased 221.5% year-over-year to ¥29,815 million.

• The company supported a tender offer by KJ005 Co., Ltd. (KKR) and adopted a neutral stance on shareholder participation.

Financial highlights

• EBITDA grew 30% year-over-year to ¥41,225 million, with an EBITDA margin of 30%.

• Operating income margin improved to 24% from 19% year-over-year.

• Equity to asset ratio increased to 57.3% from 53.6%.

• ROE rose to 14.6% and ROIC to 14.4%, reflecting higher profitability and lower interest-bearing debt.

• Cash and cash equivalents at year-end were ¥42,542 million.

Outlook and guidance

• FY2027/3 net sales forecasted to rise 7% to ¥146,300 million; operating income expected to grow 5% to ¥34,300 million.

• Electronics segment sales projected to increase 7%, with PKG products benefiting from AI-driven demand.

• Medical and Pharmaceuticals sales expected to rise 3%, but operating income forecasted to decline 21% due to higher costs.

• No interim or year-end dividends planned for FY2027 due to the tender offer.

• Assumed exchange rate for FY2027/3 is 150.0 JPY/USD.