Yotai Refractories Co., Ltd. · TSE:5357
Yotai Refractories — FY2026 Earnings Presentation
43 slides from Yotai Refractories's earnings presentation, May 29, 2026
Slide 1: FY2026 Financial Results Briefing Materials
YOTAI REFRACTORIES CO., LTD. FY2026 Financial Results Briefing Materials May 29, 2026 TSE Prime Market: 5357 Copyright ©YOTAI REFRACTORIES CO., LTD. All Rights Reserved.
Slide 2: Overview of Consolidated Financial Results for the Year Ended March 2026
Overview of Consolidated Financial Results for the Year Ended March 2026 Copyright ©YOTAI REFRACTORIES CO., LTD. All Rights Reserved. 1
Slide 3: Consolidated Statement of Income
Consolidated Statement of Income Net sales increased by 1.0% year-on-year, reaching a record high, due to increased orders for glass, cement, and nonferrous metals. Ordinary profit increased by 3.6% year-on-year due to price revisions and an increase in production volumes, despite factors such a
Slide 4: Consolidated Operating Profit (Year-on-year Change)
Analysis of Factors Underlying the Increase/Decrease in Consolidated Operating Profit (Year-on-year Change) Increase in sales Increase in consumption of raw volume for materials and fuel refractories −¥387 million ¥83 million Rise in unit sales prices Increase in profit Rise in unit prices Increase
Slide 5: Refractories Business
Refractories Business Net sales were 24,177 million yen, on par with the previous year, and segment profit was 4,757 million yen, up 0.7% year-on-year. Highlights of the current term Net sales Net sales (Quarterly) 2025.3 2026.3 Steel: Orders decreased slightly due to the (Millions of yen) (Millio
Slide 6: Engineering Business
Engineering Business Net sales were 5,407 million yen, up 5.2% year-on-year, and segment profit was 796 million yen, up 11.2% year-on-year. Net sales Net sales (Quarterly) Highlights of the current term 2025.3 2026.3 (Millions of yen) (Millions of yen) 6,000 2,000 5,142 5,178 5,138 5,407 1,735 Net
Slide 7: Consolidated Balance Sheet
Consolidated Balance Sheet (Millions of yen) Increase/ FY2025 FY2026 Major factors for increase/decrease Decrease Notes and accounts Current assets receivable - trade +837 29,584 29,711 +126 Cash and deposits −663 Raw materials and supplies −103 Investment securities +745 Non-current assets 11,794 1
Slide 8: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement (Millions of yen) FY2025 FY2026 Major cash flows during the current term Profit before income taxes +3,439 Cash flows from operating Depreciation +1,422 4,431 2,500 activities Increase in trade receivables −900 Decrease in trade payables −784 Purchase of property, pl
Slide 9: Forecasts of Consolidated Financial Results for the Year Ending March 2027
Forecasts of Consolidated Financial Results for the Year Ending March 2027 Copyright ©YOTAI REFRACTORIES CO., LTD. All Rights Reserved. 8
Slide 10: Forecasts of Consolidated Financial Results
Forecasts of Consolidated Financial Results The Company plans to increase net sales by 1.4% year-on-year and ordinary profit by 3.4% year-on-year, assuming aggressive overseas business development and orders for large nonferrous metal and other projects in Japan. The effects of issues in the Mid
Slide 11: Sales Performance by Industry Sector and Outlook
Sales Performance by Industry Sector and Outlook Steel Cement Nonferrous (Millions of yen) (Millions of yen) (Millions of yen) 15,000 5,000 4,765 3,500 3,300 3,218 12,923 12,697 4,267 4,372 12,446 12,478 4,113 2,919 12,000 4,000 2,800 2,225 9,000 3,000 2,100 6,000 2,000 1,400 3,000 1,000 700 0 0 0 2
Slide 12: Progress in the Second Medium-term Management Plan and Future Strategy
Progress in the Second Medium-term Management Plan and Future Strategy Copyright ©YOTAI REFRACTORIES CO., LTD. All Rights Reserved. 11
Slide 13: 2030 Vision and the Second Medium-term Management Plan
2030 Vision and the Second Medium-term Management Plan We newly established the 2030 Vision to achieve a medium- to long-term leap. We aim to maximize investment returns in 2030 by expanding investment returns during the period covered by the Second Medium-term Management Plan. Corporate Vision A co
Slide 14: Numerical Targets in the Second Medium-term Management Plan
Numerical Targets in the Second Medium-term Management Plan First Medium-term Second Medium-term Management Plan Management Plan (Final year) (First year) (Second year) (Final year) (Millions of yen) FY2027 FY2024 FY2025 FY2026 Amount of Rate of Result Result Result Target Forecast change from chang
Slide 15: Basic Policies of the Second Medium-term Management Plan
Basic Policies of the Second Medium-term Management Plan Second Medium-term Management Plan (FY2025–FY2027) A period for continuously developing a structure to achieve the corporate vision and cultivate new revenue sources Basic strategies and prioritized measures Continue to invest in people, produ
Slide 16: 1. Expand net sales by improving quality of products and services
Initiatives in the Second Medium-term Management Plan 1. Expand net sales by improving the quality of products and services Development of new products with high customer First exhibition at the Highly-Functional Ceramics Expo (Nov. 2025) demand Cement rotary kilns Transition zone non-sintered spine
Slide 17: 2. Strengthen structure for stable supply with low costs (1)
Initiatives in the Second Medium-term Management Plan 2. Strengthen the structure to secure a stable supply with low costs (1) Strengthening of the production system through capital investments Continuous introduction of large, high-efficiency presses at each plant to improve product quality and pro
Slide 18: 2. Strengthen structure for stable supply with low costs (2)
Initiatives in the Second Medium-term Management Plan 2. Strengthen the structure to secure a stable supply with low costs (2) Promote DX that contributes to achieving management strategies Formulate a DX roadmap and incorporate it into specific initiatives for promotion. Accelerate DX promotion by
Slide 19: 3. Cultivate new revenue sources (Overseas business development)
Initiatives in the Second Medium-term Management Plan 3. Cultivate new revenue sources (Overseas business development) Focusing on steel, cement, and electronic parts, aim to develop business in line with regional needs in areas where YOTAI has strengths. South Overseas sales India Korea Sales activ
Slide 20: 4. Promote ESG management (1)
Initiatives in the Second Medium-term Management Plan 4. Promote ESG management (1) E: Install facilities to reduce GHG emissions and promote technological innovations Promote the use of renewable energy by continuously introducing solar power generation systems. Furthermore, promote the reduction o
Slide 21: 4. Promote ESG management (2)
Initiatives in the Second Medium-term Management Plan 4. Promote ESG management (2) E: Scope 1 + Scope 2 GHG emission disclosure In FY2026, achieved the target of a 30% reduction in Scope 1 + Scope 2 emissions for FY2031 compared to the base year of FY2015. As a result, the FY2031 target was raised
Slide 22: 4. Promote ESG management (3)
Initiatives in the Second Medium-term Management Plan 4. Promote ESG management (3) S: Enhance employee diversification and create a comfortable work environment Human capital management that leverages a small but elite workforce Promote the creation of an organization and work environment that rewa
Slide 23: Schedule for and Progress in Investments
Schedule for and Progress in Investments Preparation time Full operation FY2025 FY2026 FY2027 First Second First Second First Second half half half half half half People Recruitment Active recruitment of personnel with professional careers Introduction of training programs by rank and job classifi
Slide 24: Strengthen investment and the allocation of funds to shareholders
(Three-year) Fund Allocation Plan and Results Strengthen investment and the allocation of funds to shareholders FY2025 FY2026 Three-year total Details Result Result Renovation investment Investment for rationalization and streamlining ¥0.7 billion ¥0.4 billion ¥1.5 billion Installation of strate
Slide 25: Response for Achieving Capital Cost- and Share Price-Conscious Management
Response for Achieving Capital Cost- and Share Price-Conscious Management Copyright ©YOTAI REFRACTORIES CO., LTD. All Rights Reserved. 24
Slide 26: Analysis of Current Status (1) (ROE, PER, PBR, and Share Price)
Analysis of Current Status (1) (ROE, PER, PBR, and Share Price) Capital cost: Perceived to be around 5% to 7% ROE: The Company recognizes that to achieve the Medium-term Management Plan target of 10%, the challenges are to increase investment returns and improve profitability. PER: The Company
Slide 27: Analysis of Current Status (2) (Financial Situation)
Analysis of Current Status (2) (Financial Situation) The Company’s business performance is affected by the amount of domestic crude steel production in the steel industry, which is its main customer, the prices of raw materials in China, and the depreciation of the yen. Still, the Company mainta
Slide 28: Policies and Targets
Policies and Targets Policies Targets Increase investment ROE 10.0% or more returns Formulate and promote PBR management plans from a 1 times or more long-term perspective Strive to sustainably enhance corporate value by implementing the Second Medium-term Management Plan and the 2030 Vision in tand
Slide 29: Initiatives (Financial Strategy)
Initiatives (Financial Strategy) To achieve optimal capital structure, the Company will utilize interest-bearing debts in a flexible manner with an awareness of the capital cost. Regarding shareholder returns, during the period covered by the Second Medium-term Management Plan, the Company will
Slide 30: Shareholder Returns
Shareholder Returns During the period covered by the Second Medium-term Management Plan, the Company will prioritize shareholder returns through dividends and choose either a consolidated dividend payout ratio of 60% or a dividend of 85 yen per share, whichever is higher. The Company will consider t
Slide 31: Appendix
Appendix Copyright ©YOTAI REFRACTORIES CO., LTD. All Rights Reserved. 30
Slide 32: Corporate Overview
Corporate Overview Creating the future with our refractories Corporate name YOTAI REFRACTORIES CO., LTD. Establishment August 1936 Head office 8-1 Nishikinaka-machi, Kaizuka-shi, Osaka location Prefecture 597-0093 No. of 538 (as of March 31, 2026) employees Paid-in capital 2,654 million yen (as of M
Slide 33: History
History YOTAI REFRACTORIES has developed alongside basic industries such as steel, nonferrous metals, cement, glass, and incinerators. 2026 1993 90th Merger with anniversary of establishment Osaka Yogyo Co., Ltd. 90th anniversary logo Osaka Yogyo Fire YOTAI REFRACTORIES Brick Co., Ltd. CO., LTD. 193
Slide 34: YOTAI's Characteristics and Strengths
YOTAI’s Characteristics and Strengths Independent Thorough cost management from any particular corporate group backed by corporate culture Solid position in a wide Pursuit of internal range of business fields production Sincere and agile customer Technical sales, services multi-skilled workers Busin
Slide 35: Ability to Ensure Sustained Profit Growth
Ability to Ensure Sustained Profit Growth Growing continuously without being affected by booms or busts in particular industries Changes in net sales and the ordinary profit ratio Sales results by industry during FY2026 [consolidated] (monetary comparison) [consolidated] Net sales Ordinary profit
Slide 36: Sincere and Flexible Customer Support
Sincere and Flexible Customer Support Providing value through united efforts by sales, R&D, manufacturing, and technical service Giving feedback on customer needs to each Sales division Identifying the needs of customers through close involvement with them Technical R&D Identifying points to improve
Slide 37: List of Business Locations
List of Business Locations Tokyo Branch Sales Division Yingkou Yotai Import and Export Co., Ltd. Muroran Representative Office (Liaoning Province, People’s Republic of China) Head Office Tokyo Branch Engineering Division Tokyo Branch Office Kyushu Branch Yoshinaga Plant Kaizuka Plant Advanced Materi
Slide 38: Types and Classification of Refractories
Types and Classification of Refractories Classification Type Main applications Refractory bricks are refractories with various shapes, Spinel Cement such as blocks and plates. Most refractories used in the growing electronic components industry are Magnesium carbon Blast furnace/electric furnace ref
Slide 39: Approaches and Measures to Reduce CO2 Emissions
Approaches and Measures to Reduce CO2 Emissions Proceed with studies to achieve themes that are also highly difficult to handle Manufacturing process for refractory bricks Process with the highest CO2 emissions Crush raw material Screening Kneading Forming Dry and heat Inspection Delivery Specific t
Slide 40: Publication of the Integrated Report
Publication of the Integrated Report YOTAI REFRACTORIES reports on its business lines and initiatives to enhance its corporate value to all stakeholders, including investors and shareholders, in an easy-to-understand way. 2022 report 2023 report 2025 report 2024 report https://www.yotai.co.jp/librar
Slide 41: External Evaluations
External Evaluations Our initiatives have been highly evaluated by various evaluation institutions in Japan and overseas. Acquired a “B” grade in the “CDP” Climate Obtained “DX Certification” defined by Change Report for 2024 and 2025 for two Japan’s Ministry of Economy, Trade consecutive years and
Slide 42: Change in Share Price (Closing Price)
Change in Share Price (Closing Price) TSE Prime Market: 5357 As of March 31, 2026 (Yen) YOTAI (left axis) TOPIX (right axis) (Points) Share price 2,000 4,000 1,812 yen 1,500 3,000 Forecast dividend yield 4.97% 1,000 2,000 Forecast PER 13.5 times 500 1,000 0 2019 2020 2021 2022 2023 2024 2025 2026 0
Slide 43: YOTAI REFRACTORIES CO., LTD.
Contact: YOTAI REFRACTORIES CO., LTD. General Affairs Department Address: 8-1 Nishikinaka-machi, Kaizuka-city, Osaka, 597-0093, Japan TEL: +81-72-430-2100 Some of the information in this document contains forward-looking statements. Such statements do not guarantee future performance and involve ris