Toyobo Co (3101) Q1 2027 earnings summary

Executive summary

• Net sales rose 7.3% year-over-year to ¥110.4 billion for Q1 FY 3/27, with operating profit up 28.1% to ¥7.1 billion and net profit nearly doubling to ¥3.1 billion, driven by strong performance in Industrial film and Resin and chemical segments despite Middle East instability.

• Growth was supported by demand for polarizer protective films, release films for MLCC, engineering plastics, and industrial adhesives, even amid global economic uncertainties.

Financial highlights

• Gross profit grew 8.7% year-over-year to ¥27.4 billion, with gross margin improving to 24.8%.

• EBITDA increased 23.3% to ¥14.1 billion, and EPS rose from ¥17.8 to ¥34.8.

• Ordinary profit increased 55.3% to ¥6.6 billion, and comprehensive income rose 124.3% to ¥4.4 billion.

• Depreciation rose 18.8% to ¥7.0 billion, and CAPEX increased 3.3% to ¥3.6 billion.

• Total assets decreased 1.1% from March 31, 2026, to ¥620.7 billion; net assets decreased 0.7% to ¥250.3 billion.

Outlook and guidance

• Full-year FY 3/27 sales are forecast to rise 3.2% to ¥435.0 billion, but operating profit is expected to decline 17.6% to ¥23.0 billion due to higher depreciation, lower Middle East sales, and increased raw material and fuel costs.

• Net profit is projected at ¥7.0 billion, with an annual dividend of ¥40 per share.

• Ordinary profit is forecast at ¥18.5 billion (–19.1%), and profit attributable to owners of parent at ¥7.0 billion (–37.4%).