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Kureha Corporation (4023) investor relations material
Kureha Corporation Q1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
FY2026 1Q revenue and profit increased year-over-year, driven by strong performance in Advanced Materials and Specialty Plastics, as well as increased equity method income.
Significant growth in core operating profit, especially in Advanced Materials due to improved PGA earnings and reversal of inventory valuation losses.
Sustainability-focused management and adoption of core operating profit metric to clarify recurring performance.
Home Products sales surged due to consumer stockpiling amid Middle East tensions.
Financial highlights
FY2026 1Q revenue: ¥42.1bn, up 15.2% YoY; core operating profit: ¥5.9bn, up 209.0% YoY; operating profit: ¥5.8bn, up 149.4% YoY.
EBITDA for 1Q: ¥8.7bn, up ¥3.3bn YoY.
Profit attributable to owners: ¥4.3bn, up 108.1% YoY; EPS up to ¥112.24 from ¥45.35.
Total assets at quarter-end: ¥343.4bn, up ¥4.96bn from prior year-end.
FX rates: JPY/USD 159.6, JPY/EUR 185.4, JPY/CNY 23.4; crude oil price (Brent): $95.6/bbl.
Outlook and guidance
Full-year revenue forecast revised upward to ¥173.0bn, up 7.0% YoY, mainly due to price revisions and shipment timing.
Core operating profit forecast at ¥12.0bn (down 17.1% YoY); profit attributable to owners projected at ¥7.5bn.
Dividend forecast raised to ¥216/share, targeting a 5% DOE.
Operating profit and net profit forecasts unchanged from May 2026, considering potential business environment changes.
- FY2035 vision targets a balanced three-business portfolio and 12% ROE, with Life Sciences growth.4023
Corporate presentation - Impairment losses led to a net loss despite stable revenue; profit recovery is forecast.4023
Q4 2026 - Revenue and profit fell on weak advanced materials sales, but cash flow and outlook remain stable.4023
Q1 2025 - Profit and revenue fell on weak PVDF and PGA sales, but full-year revenue is forecast to rise.4023
Q2 2025 - Revenue and profit fell on weak PVDF and PGA, but cost cuts and new projects are advancing.4023
Q3 2025 - Profitability is set to rebound in FY2025–FY2026 after a challenging year, with new capital policies.4023
Q4 2025 - 1Q FY2025 revenue and profit fell, but full-year profit growth is still forecast.4023
Q1 2026 - Operating profit rose 16.5% year-on-year despite a 5.2% revenue decline, led by Advanced Materials.4023
Q2 2026 - Operating profit rose despite lower revenue, led by Advanced Materials and cost reductions.4023
Q3 2026
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