Nagase & Co., Ltd. · TSE:8012
Nagase & — Q3 FY2025 Earnings Presentation
34 slides from Nagase &'s earnings presentation, Feb 5, 2026
Slide 1: FY2025 Third Quarter Financial Briefing
FY2025 Third Quarter Financial Briefing NAGASE&CO.,LTD. Stock exchange listing : Tokyo (Prime Market) Code number : 8012 February 5, 2026 Copyright © 2026 NAGASE & CO., LTD.
Slide 2: Executive Summary
Executive Summary Year-on-year comparison Positive YoY Factors Negative YoY Factors The Company posted record-high net sales and profits at all levels on a cumulative third-quarter basis Profitability improved through ROIC management, improving gross profit margin by 0.9 percentage points The tradin
Slide 3: Contents
Contents ■ Consolidated Statements Income P４ ■ Gross Profit by Region P5 ■ Gross Profit by Business & Segment P6 ■ Operating Income by Business & Segment P7 ■ Segment Overview P8～P12 ■ Overview of Major Manufacturing Subsidiaries P13～P15 ■ Prinova Group Nutrition Business Status P16 ■ Consolidated B
Slide 4: Consolidated Statements Income
Consolidated Statements Income ▶ Posted record-high net sales and profits at all levels on a cumulative third-quarter basis ▶ Gross profit increased due to efforts toward improving profit margin ▶ Operating income increased, despite an increase in selling, general and administrative expenses, which
Slide 5: Gross Profit by Region
Gross Profit by Region ▶ Higher domestic gross profit stemming from an improved profit margin at Nagase Viita and higher sales of formulated epoxy resins at Nagase ChemteX (including exports) ▶ Higher overseas gross profit driven by strong performance at the Prinova Group in the Americas, while perf
Slide 6: Gross Profit by Business & Segment
Gross Profit by Business & Segment ▶ The trading business remained flat, despite strong performance in the Electronics & Energy and Life & Healthcare segments, as Mobility and Functional Materials automobile-related business experienced weaker results ▶ Manufacturing business profits increased rough
Slide 7: Operating Income by Business & Segment
Operating Income by Business & Segment ▶ Trading business profit decreased roughly ¥3.8 billion due to M&A-related expenses and the impact of an increase in retirement benefit expenses related to the amortization of actuarial differences ▶ Manufacturing business profit rose roughly ¥6.0 billion in a
Slide 8: Segment Overview: Functional Materials
Functional Materials Segment Overview: Functional Materials ▶ Gross profit decreased primarily for the following reasons ・ Coating materials sales were lower due to weak demand automotive and architectural applications ・ Sales of raw materials for semiconductor materials increased ▶ Operating income
Slide 9: Segment Overview: Advanced Materials & Processing
Advanced Materials & Processing Segment Overview: Advanced Materials & Processing ▶ Gross profit increased primarily for the following reasons: • Sales of resins decreased due to lower volume for the Electrical Appliances and Electronics industries, including OA equipment and other applications. How
Slide 10: Segment Overview: Electronics & Energy
Electronics & Energy Segment Overview: Electronics & Energy ▶ Gross profit increased primarily for the following reasons ・ Sales of semiconductor materials increased ・ Despite weakness in sales for mobile device applications, sales of Nagase ChemteX formulated epoxy resins increased with solid perfo
Slide 11: Segment Overview: Mobility
Mobility Segment Overview: Mobility ▶ Gross profit decreased primarily for the following reasons ・ Resin sales, which account for nearly half of gross profit, remained flat ・ Sales decreased for functional materials and functional components related to interior and exterior fittings and electrificat
Slide 12: Segment Overview: Life & Healthcare
Life & Healthcare Segment Overview: Life & Healthcare ▶ Gross profit increased primarily for the following reasons ・ Increased sales of intermediates and pharmaceutical raw materials ・ Nagase Viita saw increased sales of cosmetic ingredients, and it improved its profit margin through cost reductions
Slide 13: Overview of Major Manufacturing Subsidiaries: Nagase ChemteX
Overview of Major Manufacturing Subsidiaries: Nagase ChemteX ▶ Gross profit increased primarily for the following reasons ・ Despite weakness in sales for mobile device applications, sales of formulated epoxy resins increased with solid performance for resins used in semiconductors for AI servers ・ P
Slide 14: Overview of Major Manufacturing Subsidiaries: Nagase Viita
Overview of Major Manufacturing Subsidiaries: Nagase Viita ▶ Gross profit increased primarily for the following reasons ・ Profit margin improved due in part to cost reductions, despite lower sales volume for food ingredients ・ Sales of cosmetic ingredients increased due to strong performance in Japa
Slide 15: Overview of Major Manufacturing Subsidiaries: Prinova Group
Overview of Major Manufacturing Subsidiaries: Prinova Group ▶ Gross profit increased primarily for the following reasons: ・ Gross profit increased due to higher sales volume of food ingredients ・ The manufacturing business is on the path to recovery with improving product mix, particularly in the So
Slide 16: Prinova Group Nutrition Business Status
Prinova Group Nutrition Business Status Revenue Trend of Nutritioｎ Business(Million $) 6.0 ■Cost reductions through efficiency 4.0 improvements 2.0 ・Optimize staffing structure 0.0 ・Streamline raw materials procurement/supply chain (2.0) ・Revise manufacturing processes/efficient operations via autom
Slide 17: Consolidated Balance Sheets
Consolidated Balance Sheets ▶ Partially utilized interest-bearing debt for the acquisition of the SACHEM business in Asia and Nagase Diagnostics 100 millions of yen 2025/03 2025/12 Change Details Total Current Assets 5,601 5,654 53 (Cash&deposits) 663 435 (227) (Trade account receivbable) 3,112 3,33
Slide 18: Consolidated Cash Flows
Consolidated Cash Flows ▶ Net cash used in investing CF amounted to ¥43.2 billion due to the acquisition of the SACHEM business in Asia, Nagase Diagnostics, etc. ▶ Net cash used in financing CF amounted to ¥10.7 billion as the Company raised debt to invest in growth, while also conducting share buyb
Slide 19: FY2025 Earnings Projection (No Change)
FY2025 Earnings Projection（No Change） ▶ Food-related performance will likely see significant progress with new projects in the Prinova Group's manufacturing business and cost reductions through efficiency improvements ▶ Sales of functional materials and functional components will likely remain slugg
Slide 20: FY2025 Earnings Projection By Segment (No Change)
FY2025 Earnings Projection By Segment（No Change） ▶ Functional Materials expects to post lower profit due to higher selling, general and administrative expenses, despite solid sales of semiconductor materials ▶ Advanced Materials & Processing expects higher profit, as an improved product mix offsets
Slide 21: FY2025 Earnings Projections by Major Manufacturing Subsidiaries (No Change)
FY2025 Earnings Projections by Major Manufacturing Subsidiaries（No Change） ▶ Nagase ChemteX: Higher gross profit due to steady sales of formulated epoxy resins for AI server semiconductors Operating income to increase due to improved gross profit ▶ Nagase Viita: Higher gross profit due to strong sal
Slide 22: Shareholder Returns
Shareholder Returns ▶ We plan to pay ¥100 per share for the full year, consisting of an interim dividend of ¥45 per share and a year-end dividend of ¥55 per share, reflecting a ¥5 increase from the initially planned year-end dividend of ¥50 per share.(forecasting a 16th consecutive year of dividend
Slide 23: IR Materials and Inquiries
■IR Materials for the first meeting: https://www.nagase.co.jp/english/ir/library/pdf/factbooks/20250804-1.pdf ■NAGASE Group Investor Relations Website: https://www.nagase.co.jp/english/ir/ ■Inquiries: https://www.nagase.co.jp/english/contact/ir/ These presentation materials contain projections based
Slide 24: Management Conscious of Capital Costs and Share Prices
Review Management Conscious of Capital Costs and Share Prices We continue to implement initiatives in the final year of the current medium-term management plan Policies to Enhance Corporate Value Execute growth, financial, and capital strategies set forth in the Medium-Term Management Plan ACE 2.0 C
Slide 25: Business Environment Surrounding NAGASE Segments
Review Business Environment Surrounding NAGASE Segments Industry Full-Year FY2025 Initial Forecast First Half Trends Second Half Trends Segment Automotive applications to grow Automotive applications to slightly; construction applications remaining flat; construction Coatings unlikely to recover; ov
Slide 26: Sales, Gross Profit and Operating Income by Quarter
Sales, Gross Profit and Operating Income by Quarter 100 millions of yen FY2025 Achiev Quarterly results Forecast ement FY2024 １Q ２Q ３Q ４Q YTD Actual Sales FY2025 2,373 2,424 2,443 7,240 9,640 75% FY2024 2,392 2,417 2,370 2,269 7,180 9,449 YoY% (0.8%) 0.3% 3.1% 0.8% 2.0% Gross profit FY2025 443 465 4
Slide 27: Growth Strategies for the Future
Reform of Profit Structure Review Growth Strategies for the Future Make proactive investments in Focus Area of manufacturing (across the three areas of food, semiconductors, and life sciences) to expand profit scale and profit margin over the medium to long term Potential investments in Focus Area a
Slide 28: Improvement Areas FY2025 Progress
Reform of Profit Structure Review Improvement Areas FY2025 Progress Reducing operating losses through the sale of Inkron Oy, a developer and manufacturer of functional materials for optical devices Signed a share transfer agreement with Radiant Opto-Electronics Corporation to transfer shares complet
Slide 29: Efforts in the Food Area
Reform of Profit Structure Efforts in the Food Area Driving Food Business Expansion through the Acquisition of Aprinova - Enhancing Regional Reach in the Global South - About Aplinova Purpose of Acquisition L o c a t i o n : São Paulo in Brazil ✓ Strengthening the South American market as B u s i n
Slide 30: Efforts in the Semiconductor Area ～SACHEM Business in Asia～
Reform of Profit Structure Review Efforts in the Semiconductor Area ～SACHEM Business in Asia～ ▶ We acquired the SACHEM business in Asia for high-purity chemicals for semiconductors $101 million; the business joined the NAGASE Group on June 1, 2025 (PL consolidation began in the second quarter) ▶ Acq
Slide 31: Efforts in the Life Science Area ～Nagase Diagnostics～
Reform of Profit Structure Review Efforts in the Life Science Area ～Nagase Diagnostics～ ▶ Acquired Nagase Diagnostics, successor to the Asahi Kasei Pharma Corporation diagnostic enzymes business , added to the NAGASE Group in July 2025 ▶ Develops, manufactures, and markets diagnostic reagents, enzym
Slide 32: Cash Allocation in FY2025
Reform of Corporate Culture Review Cash Allocation in FY2025 Leverage interest-bearing debt to pursue growth investments and shareholder returns Cash In Cash Out Growth Investments Operating Execute announced M&A CF Growth Consider M&A deals in Asset Replacement ¥26.5～ Investments the range of sever
Slide 33: Prinova Group Business Overview
Review Prinova Group Business Overview Trading Manufacturing・Processing Aromas Ingredients Solutions Nutrition Flavors Reliable supply of Distribution of more Production of One-stop- Reliable flavors aromas and than 2,000 food premixes, solutions from developed by essential oils to ingredients to th
Slide 34: Major Cash Inflows and Outflows for FY2021-FY2024
Review Major Cash Inflows and Outflows for FY2021-FY2024 100 millions of yen 4-years 4-years Cash In FY2021 FY2022 FY2023 FY2024 Cumulative Cash Out FY2021 FY2022 FY2023 FY2024 Cumulative Total Total Operating CF after Dividends and share 525 363 476 515 1,879 124 139 178 270 713 adjustments* buybac