Toppan Holdings Inc (TONPF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

This is Kurobe, the CFO. Thank you very much for taking time out of your busy schedules to attend our fiscal 2025 third quarter results briefing. I will now explain the financial results for the nine-month period. Please turn to page 2. For the cumulative third quarter, our consolidated results were as follows. Net sales increased year-on-year by 5.2% to 1,322.8 billion yen. Non-GAAP operating profit excluding impact from acquirement costs increased 7.5% to 65.6 billion yen. Consolidated operating profit for the entire company and by each segment generally met our plans. Non-GAAP income, excluding the impact of extraordinary gains and losses such as gains on the sales of securities, increased 37.9% to 52.5 billion yen. Key financial points are listed on the right. Both GAAP and non-GAAP results show increased revenue and profit for information communication and living in industry. Electronics saw decreased revenue and profit due to the deconsolidation of Texan Photomask, though FCBJ profit margins continue to improve. I will explain segment performance in detail later on. Page 3 As Texan Photomass transition to an equity method entity starting in the third quarter, I will provide a supplementary explanation regarding the profit impact. Due to this transition, the light blue bar showing cumulative company-wide operating profit for Q3 decreased by 15% on a GAAP basis. Conversely, green representing equity method investment profit expanded approximately 3.7 times year-on-year. Additionally, while non-controlling interests were deducted in the consolidated figures up to the second quarter, the transition to an equity method in Q3 resulted in a significant year-on-year decrease in the gray-shaded non-controlling interests. Profit from core operations reflecting these adju...