Resonac (4004) Q2 2026 earnings summary

Executive summary

• Revenue for 1H 2026 rose 5.4% year-over-year to ¥676.9 billion, led by strong performance in Semiconductor and Electronic Materials and Innovation Enabling Materials, offsetting declines in Mobility and Crasus Chemical segments.

• Core operating profit for 1H 2026 surged 156.5% to ¥88.8 billion, with EBITDA margin up 7.1 points to 19.8%.

• Profit attributable to owners increased 146.5% to ¥48.5 billion year-over-year.

• The 2026 full-year forecast was revised upward, reflecting strong demand and segment outperformance.

• The company plans a partial spin-off of Crasus Chemical in October 2026, treating it as a discontinued operation in forecasts.

Financial highlights

• 1H 2026 revenue: ¥676.9 billion, up 5% year-over-year.

• Core operating profit: ¥88.8 billion, up 157% year-over-year.

• Profit attributable to owners: ¥48.5 billion, up 147% year-over-year.

• EBITDA: ¥127.7 billion, EBITDA margin: 19.8%.

• Free cash flow improved to ¥27.4 billion in 1H 2026 from negative ¥13.3 billion in 1H 2025.

Outlook and guidance

• FY2026 revenue forecast is ¥1,165.0 billion for continuing operations, up 11.3% year-over-year.

• Core operating profit forecast raised to ¥196.0 billion (+40% vs. previous forecast), up 87.7% year-over-year.

• Profit attributable to owners projected at ¥112.5 billion, with basic EPS of ¥606.32 and adjusted EPS of ¥800.

• ROIC expected to improve to 9.8%.

• Forecast excludes gains/losses from the Crasus Chemical spin-off and is based on current economic and market assumptions.