Toagosei Co., Ltd. · TSE:4045
Toagosei — 1H FY2026 Earnings Presentation
26 slides from Toagosei's earnings presentation, Aug 7, 2026
Slide 1: Semi-annual Financial Results for FY2026
Semi-annual Financial Results for FY2026 1
Slide 2: Contents
Ｃｏｎｔｅｎｔｓ Ⅰ . Semi-annual Results for FY2026 Ⅱ . Full-year Results Forecast for FY2026 Ⅲ . Appendix 2
Slide 3: Semi-annual Results for FY2026
Semi-annual Results for FY2026
Slide 4: Overview of Semi-annual Results for FY2026
Overview of Semi-annual Results for FY2026 Rate of 1H FY2025 1H FY2026 Change Change Net sales (Millions of yen） 80,344 82,405 2,061 +2.6% Operating income (Millions of yen） 7,018 7,912 893 +12.7% Operating income ratio 8.7% 9.6% 0.9pp – Ordinary profit (Millions of yen） 7,497 8,580 1,082 +14.4% Net
Slide 5: Analysis of Changes in Operating Income
Analysis of Changes in Operating Income (Billions of yen) 12.0 10.0 3.3 8.0 7.9 7.0 (1.9) 6.0 (0.5) 4.0 2.0 0.0 1H FY2025 Volume Unit price Fixed costs 1H FY2026 Operating income Operating income 5
Slide 6: Consolidated Results (by Segment) 1H
Consolidated Results (by Segment) 1H (Millions of yen) 1H FY2025 1H FY2026 Change Net sales Volume Unit price B－A A B Commodity Chemicals 36,180 33,352 (5,168) 2,340 (2,827) Polymer & Oligomer 17,538 19,624 373 1,711 2,085 Adhesive Material 6,761 7,296 (238) 773 535 Performance Chemicals 5,013 5,727
Slide 7: Consolidated Statement of Income
Consolidated Statement of Income (Non-operating Income/Expenses and Extraordinary Income/Losses) (Millions of yen) (Millions of yen) Non-operating 1H FY2025 1H FY2026 Change Extraordinary 1H FY2025 1H FY2026 Change income/expenses income/losses Gain on sale of non-current Interest and dividend incom
Slide 8: Consolidated Balance Sheet
Consolidated Balance Sheet (Millions of yen) Dec. 31, 2025 Jun. 30, 2026 Change Dec. 31, 2025 Jun. 30, 2026 Change Current assets 110,556 107,424 (3,132) Total liabilities 73,160 75,716 2,555 Cash, deposits and 31,518 22,017 (9,500) Trade Payables (5) 16,513 19,608 3,095 securities (1) Trade Receiva
Slide 9: Cash Allocation (1H FY2026)
Cash Allocation (1H FY2026) (Billions of yen) 50.0 2.3 45.0 12.0 40.0 35.0 31.5 30.0 (14.2) 25.0 (6.2) 22.0 20.0 (3.4) 15.0 10.0 5.0 0.0 Balance at CF from Sale of assets Capital investment Shareholder Other Balance as beginning of period operating returns of June 30, 2026 activities 9
Slide 10: Full-year Results Forecast for FY2026
Full-year Results Forecast for FY2026
Slide 11: Full-year Consolidated Results Forecast for FY2026
Full-year Consolidated Results Forecast for FY2026 (Year-on-year Comparison) FY2025 Results FY2026 Forecast Change Annual 1H 2H Annual (B-A) 1H 2H (A) Results Forecast (B) Net sales 80,344 81,968 162,312 82,405 87,595 170,000 +7,687 Operating income 7,018 7,162 14,180 7,912 7,588 15,500 +1,319 Opera
Slide 12: Analysis of the Forecasted Changes in Operating Income
Analysis of the Forecasted Changes in Operating Income (Billions of yen) 20.0 4.9 18.0 16.0 15.5 14.2 (3.1) 14.0 (0.5) 12.0 10.0 8.0 6.0 4.0 2.0 0.0 FY2025 Volume Unit price Fixed costs Forecasted operating Operating income income for FY2026 12
Slide 13: Full-year Consolidated Results Forecast for FY2026 by Segment
Full-year Consolidated Results Forecast for FY2026 (Year-on-year Comparison by Segment) FY2025 Results FY2026 Forecast Net sales Change 1H 2H Annual 1H 2H Annual Commodity Chemicals 36,180 35,592 71,772 33,352 37,048 70,400 (1,371) Polymer & Oligomer 17,538 18,631 36,169 19,624 20,876 40,500 4,331 A
Slide 14: Trends in Consolidated Results
Trends in Consolidated Results (Billions of yen) 30.0 28.2 28.1 25.5 25.8 117.02yen 25.0 24.8 111.22yen 108.14yen 104.56yen 22.1 101.31yen 23.1 102.78yen 20.0 17.6 15.5 15.0 12.3 14.3 14.2 14.1 13.7 62.43yen 12.4 12.4 12.1 12.7 11.8 11.8 10.0 8.1 5.0 0.0 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2
Slide 15: Shareholder Return Trends
Shareholder Return Trends 2025 Medium-term Management Plan period (Actual) 2028 Medium-term Management Plan period a shareholder benefit program ・Total shareholder return ratio ： 109% (period average) ・Total shareholder return ratio ： approx. 90% (Implemented in Oct. 2025) ・Payout ratio ： 55% （perio
Slide 16: Appendix
Appendix
Slide 17: Overseas Sales by Region
Overseas Sales by Region (Millions of yen) North Europe Segment 1H FY2025 Asia 1H FY2026 Remarks America Others Commodity Prioritized domestic shipments amid 3,128 (52) △ 146 (514) 2,416 Chemicals raw material supply constraints. Polymer & Strong battery materials sales in 6,167 (145) 142 159 6,322
Slide 18: Overview of Results for 2Q FY2026
Overview of Results for 2Q FY2026 2Q FY2025 2Q FY2026 Change Rate of Change Net sales (Millions of yen) 40,522 43,771 3,248 +8.0% Operating income (Millions of yen) 3,655 4,706 1,049 +28.7% Operating income 9.0% 10.7% +1.7% – ratio Ordinary profit (Millions of yen) 4,304 5,379 1,075 +25.0% Net incom
Slide 19: Consolidated Results (by Segment) 2Q
Consolidated Results (by Segment) 2Q (Millions of yen) Net sales 2Q FY2025 2Q FY2026 Change Volume Unit price A B B－A Commodity Chemicals 18,315 17,655 (3,150) 2,489 (659) Polymer & Oligomer 8,727 10,471 351 1,393 1,743 Adhesive Material 3,370 3,753 (49) 432 383 Performance Chemicals 2,607 2,965 203
Slide 20: Reference Materials for Commodity Chemicals Business
Reference Materials for Commodity Chemicals Business Year-on-year Sub-segment of Commodity Comparison Chemicals Business 2Q FY2026 1-2Q FY2026 Reason for the Net Sales Change Accounting Cumulative Period Total Inorganic chemicals Net sales increased due to product price revisions implemented 108% 10
Slide 21: Reference Materials for Polymer & Oligomer Business
Reference Materials for Polymer & Oligomer Business Year-on-year Comparison Sub-segment of 2Q FY2026 1-2Q FY2026 Reason for the Net Sales Change Polymer & Oligomer Business Accounting Cumulative Period Total Net sales increased due to higher sales volume in automotive, Polymers 120% 116% pharmaceuti
Slide 22: Reference Materials for Adhesive Material Business
Reference Materials for Adhesive Material Business Year-on-year Sub-segment of Comparison Adhesive Material 2Q FY2026 1-2Q FY2026 Reason for the Net Sales Change Business Accounting Cumulative Period Total Instant glue 124% 113% Net sales increased due to sales price revisions in the U.S. Net sales
Slide 23: Reference Materials for Performance Chemicals Business
Reference Materials for Performance Chemicals Business Year-on-year Sub-segment of Comparison Performance Chemicals 2Q FY2026 1-2Q FY2026 Reason for the Net Sales Change Business Accounting Cumulative Period Total Inorganic functional Net sales decreased due to a decline in sales volume of 84% 78% M
Slide 24: Reference Materials for Plastics Business
Reference Materials for Plastics Business Year-on-year Comparison Sub-segment of Plastics Business 2Q FY2026 1-2Q FY2026 Reason for the Net Sales Change Accounting Cumulative Period Total Environmental & infrastructure Net sales increased due to an increase in sales volume for 133% 119% system produ
Slide 25: Reference for Consolidated Performance
Reference for Consolidated Performance (Billions of yen) FY2026 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 (forecast) Capital investment 13.6 11.9 22.8 15.4 26.9 28.1 21.9 Depreciation and amortization 9.8 10.6 10.4 10.6 11.3 11.6 12.6 Research and development expenses 4.0 4.3 4.7 5.0 5.8 6.7 7.0 Ove
Slide 26: This document is not intended to solicit investment
⚫ This document is not intended to solicit investment. Please make investment decisions based on your own judgment.