Shikoku Kasei Holdings Corporation · TSE:4099
Shikoku Kasei — FY2025 Earnings Presentation
44 slides from Shikoku Kasei's earnings presentation, Feb 17, 2026
Slide 1: Investor Briefing for FY2025
Investor Briefing Shikoku Kasei HD Corp. For FY 2025 2026/2/17 SHIKOKU KASEI HOLDINGS CORPORATION （Tokyo Stock Exchange Prime Market 4099） 1
Slide 2: 1. Consolidated Financial Results
1. Consolidated Financial Results 2
Slide 3: Financial Highlights
Financial Highlights Both net sales and profits increased due to increased sales in fine chemicals, despite decreases in sales of organic chemicals and Housing Materials operations. Million yen Change FY2024 FY2025 ／ Remarks Rate +1,211 ・Chemicals operations increased due to strong sales of fine che
Slide 4: Trends in Net sales and Operating profit (YTD)
Trends in Net sales and Operating profit (ＹＴＤ) Total net sales increased (+1.21B) due to increased sales in Chemicals (+1.62B) despite decreased sales in Housing Materials(-520M) Total operating profit increased (+1.13B) due to increased profits in Chemicals（+1.49B） despite decreased profits in Hous
Slide 5: Sales Overview by Segment
Sales Overview by Segment Segment Overview of FY2025 • Sales of insoluble sulfur remained sluggish and decreased due to intensified competition. Inorganic chemicals • Sales of carbon disulfide increased due to strong export sales. • Sales of Neo-Chlor in the North American market decreased due to th
Slide 6: YoY Changes in Operating profit
YoY Changes in Operating profit Operating profit increased, as increased sales of fine chemicals products canceled out the decreased profit of organic chemicals and the Housing Materials operations caused by weak sales thereof. Decrease in gross profit Million yen margin (Housing Increase in R&D Inc
Slide 7: Trends in Net sales and Operating profit (QTD)
Trends in Net sales and Operating profit (ＱＴＤ) Net sales Operating profit 100Million yen YoY QoQ +17.4 ▲ 0.7 ▲ 0.4% +10.5% 183.0 182.3 178.7 177.7 Ratio % 173.6 173.6 18.1 168.1 16.4 16.5 164.9 161.9 159.1 163.3 Housing Materialｓ 15.3 14.7 14.2 41.9 YoY ▲ 1.7 13.9 42.4 42.6 46.0 QoQ +4.1 13.3 146.9
Slide 8: Operating results by segment: Chemicals (QTD)
Operating results by segment : Chemicals (ＱＴＤ) Net sales Operating profit 100Million yen QoQ ▲ 5.2 YoY ▲ 3.8% +18.6 23.3 Ratio % +16.2% 138.2 20.5 134.0 132.5 133.0 19.7 128.5 17.0 16.8 16.5 18.4 18.5 14.2 13.7 118.4 16.8 117.5 27.0 11.5 QoQ 112.7 112.3 114.4 115.8 36.9 ▲ 6.5 49.7 ▲ 22.8% 21.3 40.8
Slide 9: Operating results by segment: Housing Materials (QTD)
Operating results by segment : Housing Materials (ＱＴＤ) Net sales Operating profit 100Million yen Ratio % YoY 14.6 13.3 ▲ 1.7 QoQ 53.5 ▲ 3.5% 52.2 +4.1 9.2 8.6 +9.7% 8.1 49.2 6.8 47.9 47.6 5.6 46.0 2.0 2.0 43.5 42.2 42.4 42.6 42.5 41.9 -1.5 -3.4 -4.9 50.3 48.9 Exterior 44.7 44.2 46.0 Products 42.4 Qo
Slide 10: 2. Financial Forecast
2. Financial Forecast for the Fiscal Year Ending 2026 10
Slide 11: Forecast of Consolidated Financial Results
Forecast of Consolidated Financial Results Sales of organic chemicals, fine chemicals, and Housing Materials operations are projected to increase, and net sales and profit at each level are expected to reach record highs. Million yen Change FY2025 FY2026 forecast ／ Remarks Rate ・Sales of Chemicals o
Slide 12: Capital investment and Depreciation
Capital investment and Depreciation Chemicals 化学品事業 [Progress with major capital investments in FY2025] Housing 建材事業 100 Million yen Materials ・410 million yen for the construction of a new plant for insoluble sulfur Others その他 ・170 million yen for expenses related to the Tokushima plant laboratory
Slide 13: Dividend and Share buy-back Trends
Dividend and Share buy-back Trends [Shareholder Return Policy] [FY2025 Shareholder Return Policy] • Decided to increase the dividend by 5 yen per share to 55 yen per share (interim ・Dividend payout ratio 30％ dividend of 25 yen and year-end dividend of 30 yen). • Implemented a share buyback of 2.79 b
Slide 14: 3. Action to Implement Management Conscious of Cost of Capital and Stock Price
3. Action to Implement Management that is Conscious of Cost of Capital and Stock Price 14
Slide 15: Current Assessment and Future Initiatives for Enhancing Corporate Value
Current Assessment and Future Initiatives for Enhancing Corporate Value PBR improved YoY due to growth expectations centered on fine chemicals. (FY2024 end: 1.11x → FY2025 end: 1.25x) Going forward: While aiming to maintain and raise ROE levels that meet market expectations through further profitabi
Slide 16: Enhancing Capital Efficiency
Enhancing Capital Efficiency Raise profit levels (numerator) through active growth investments while controlling net asset value (denominator). Maintain ROE of 10% or higher level, exceeding market expectations (the cost of shareholders’ equity of 7-8%) in even STAGE 3, where increased depreciation
Slide 17: Improving Balance Sheet Management
Improving Balance Sheet Management Capital efficiency is being dragged down by holding cash and securities (cash and deposits + securities + investment securities, etc.) as financial assets, which exceed the Company’s capital policy (within 3 months’ worth of net sales). Going forward: Enhance capit
Slide 18: Analysis of current situation and Policies for the present
Analysis of current situation and Policies for the present [Future earnings to be acquired Group ROIC increased due to expansion of operating profit driven by the growth (FCF)] (Shareholder return) of fine chemicals. Meanwhile, ROE decreased YoY, mainly due to increased Carry out promptly, targeting
Slide 19: 4. Challenge 1000 STAGE 3 Plan Overview
4. Challenge 1000 「STAGE 3」 Plan Overview 19
Slide 20: Overview of Challenge 1000
Overview of Challenge 1000 Toward “one-step-ahead, proposal” company with creativity Solve social issues with creative ideas, leading the world Financial Goals Net sales Operating profit ROE 100.0 billion yen 15.0 billion yen 10％ Pillars for Strategy Business Reform Policy Companywide Reform Policy
Slide 21: Summary of Challenge 1000 STAGE 1 and STAGE 2
Summary of Challenge 1000 STAGE 1 and STAGE 2 100 Million yen STAGE 2 FY2025 Summary Targets Results For inorganic chemicals, target missed due to lower sales price of insoluble sulfur as a result of low-price offensives by competitors. Net sales of For organic chemicals, target achieved due to sign
Slide 22: Business Reform Policy: Chemicals operations
Challenge 1000 STAGE 3 Business Reform Policy Chemicals operations A company that continues to deepen and evolve for the progress of the world through the power of chemistry Operations Our Vision Strategic Scenario Promote the circular use of difficult-to-handle materials, Expanding sales of high-qu
Slide 23: Business Reform Policy: Housing Materials operations
Challenge 1000 STAGE 3 Business Reform Policy Housing Materials operations Contributing to community development such that everyone can live with peace of mind by bringing “better circulation” to people and nature Our Vision Strategic Scenario Positioned “MEGLIO” as the brand that expresses our purp
Slide 24: Challenge 1000 STAGE 3 Profit Plan
Challenge 1000 STAGE 3 Profit Plan In STAGE 3, we are prioritizing growth investments aimed at dramatic growth from 2030 onward, and the likelihood of achieving the profit target has increased in light of the near-term demand outlook. Million yen 1) Maintaining the numerical targets for STAGE 3 desp
Slide 25: STAGE 3 Business Reform Policy: Inorganic and Organic Chemicals
Challenge 1000 STAGE 3 Business Reform Policy Million yen Inorganic +5.5bn yen vs. FY2025 chemicals （FY2029 net sales target: Initial 18.0 billion yen → Revised 20.0 billion yen) Aim for net sales of inorganic chemicals of 20.0 billion yen in FY2029 Main measures 16,000 20,000 14,544 14,500 ・Sales e
Slide 26: STAGE 3 Business Reform Policy: Housing Materials and New Businesses
Challenge 1000 STAGE 3 Business Reform Policy Million yen Housing Materials （FY2029 net sales target: Initial 40.0 billion yen → Revised 22.0 billion yen） +4.0bn yen vs. FY2025 Aim for net sales of housing materials of 22.0 billion yen in FY2029 Main measures 27,500 22,000 17,955 20,000 ・Focus on fi
Slide 27: Challenge 1000 STAGE 3 New Focus Fields
Challenge 1000 STAGE 3 New Focus Fields We will focus on nurturing product groups that will support future businesses across multiple segments. Moreover, through the establishment of CVC, we aim to expand our business domains by developing new business domains in addition to our core operations of C
Slide 28: Challenge 1000 STAGE 3 Companywide Reform Policy
Challenge 1000 STAGE 3 Companywide Reform Policy We have generated and maintained advantages and distinctiveness through business strategies based on proprietary technologies and a corporate culture that supports them. Under the Companywide Reform Policy in STAGE 3, based on the six strategies, we a
Slide 29: Challenge 1000 STAGE 3 Investment Plan
Challenge 1000 STAGE 3 Investment Plan In STAGE 3, we will invest up to 66.0 billion yen cumulatively during 2026 to 2029. While making growth investments such as establishing the new Sakaide Plant, we will also proactively invest in creating an environment in which employees can work efficiently an
Slide 30: STAGE 3 Shareholder Return Policy
Challenge 1000 STAGE 3 Shareholder Return Policy [Shareholder Return Policy] ・Dividend payout ratio 30% ・Enhance shareholder returns through stable dividends and flexible share buybacks. ・Total return ratio 50% ・Aim to achieve growth in earnings per share and dividends per share by ・DOE （consolidate
Slide 31: STAGE 3 Capital Allocation Policy
STAGE 3 Capital Allocation Policy In STAGE 3, using excess capital and future operating cash flow as sources while also utilizing interest-bearing debt, we will make strategic investments of up to 66.0 billion yen cumulatively from 2026 to 2029. With excess capital and future operating cash flow as
Slide 32: Challenge 1000 Initiatives for SDGs and ESG
Challenge 1000 Initiatives for SDGs and ESG Materiality (priority issues) Company initiatives Target items: 2029 target 1) Create a workplace where employees can work with ・Promotion of work-life balance ・High engagement ratio from the employee survey: Score improvement of 5 points enthusiasm ・Initi
Slide 33: 5. Housing Materials Business Overview
5. Housing Materials Business Overview 33
Slide 34: Changes in External Environment Surrounding the Business
Changes in External Environment Surrounding the Business Changes in three aspects of environment are occurring simultaneously, creating an operating environment in which conventional competitive models are difficult to establish. Market environment Cost environment Social environment Human environme
Slide 35: Review of STAGE 2 and Earlier
Review of STAGE 2 and Earlier For STAGE 2, we declared a policy of expansion in the housing field, where In STAGE 2, new housing starts were sluggish, and impacts such as of our market share is low, but acquiring share in general-purpose products construction delays due to work-style reforms and lab
Slide 36: The Company's Position in the Industry
The Company’s Position in the Industry Characteristics of the Company Characteristics of competitors Strengths Strengths • Design proposal capabilities in the non-residential field and • Major sash manufacturers such as LIXIL, SankyoAlumi, and manufacturing tailored to on-site needs YKK AP leverage
Slide 37: Business Model Transformation in Response to External Environmental Changes
Business Model Transformation in Response to External Environmental Changes Business model transformation 1) Ensure appropriate price pass-through of rising raw material costs 2) Prioritize investment in human resources and systems to further augment our strengths 3) Promote development of social is
Slide 38: Launch of MEGLIO Brand Expressing Our Purpose
Launch of “MEGLIO” Brand Expressing Our Purpose We propose sustainable and valuable spaces for two environments: “human environment” and “natural environment.” We have redefined our business philosophy as “bringing better circulation to people and nature,” and with “MEGLIO” as the brand that express
Slide 39: MEGLIO-based Business Strategy
“MEGLIO”-based Business Strategy Under “MEGLIO,” we have set six missions, and will expand our lineup of high value-added products through solving social issues. Each mission is more than just a development policy. Instead, it represents an axis for making proposals to solve issues. Extended Spatial
Slide 40: MEGLIO Strategy: Spatial Value Enhancement
“MEGLIO”-based Business Strategy—“Spatial Value Enhancement” In “spatial value enhancement,” we endeavor to create relaxing spaces by going further than simply “selling products” to proposing entire spaces. In FY2025, we acquired CSP Co., Ltd. to strengthen our sales network and construction system.
Slide 41: MEGLIO Strategy: Labor-saving
“MEGLIO”-based Business Strategy—“Labor-saving” Work-style reforms in the construction industry have made labor shortages and the extension of construction schedules serious problems. We aim to expand sales by targeting homebuilders and architectural design firms, seeking to get them to include prod
Slide 42: MEGLIO Strategy: Decarbonization
“MEGLIO”-based Business Strategy—“Decarbonization” As securing new sites for the installation of solar panels has become an issue, expectations are high for solar carports and fences, which utilize existing spaces, as effective solutions. By transforming everyday spaces such as parking lots and prop
Slide 43: Profit Plan
Profit Plan In STAGE 3, we will expand our lineup of high value-added products in line with the “MEGLIO” brand, targeting sales of approximately 2.0 billion yen in FY2029. We will improve our declining profitability by expanding sales of high value-added products that are based on social issues, and
Slide 44: Disclaimer
Disclaimer This material is intended to help shareholders, investors, etc., understand pertinent information such as the Company’s management policy, plans, and financial status, and it does not solicit investment such as purchasing or selling stocks in the Company. The information contained in
Shikoku Kasei Holdings — FY2025 Earnings Presentation on 6ix