Furukawa Electric Co., Ltd. TSE:5801

Furukawa Electric : Presentation Materials for First Half of the Fiscal Year Ending March 31, 2026

Published

Source: MarketScreener



Furukawa Electric Group FY2025 Q2 Financial Results

November 10, 2025

Hideya Moridaira President

Koji Aoshima Representative Director and Corporate Senior Vice President General Manager, Finance & Accounting Division

Furukawa Electric Co., Ltd.

© FURUKAWA ELECTRIC CO., LTD.



Agenda

FY25 H1 Financial Results and FY25 Full-year Forecasts

  • FY25 H1 Financial Results Highlights

  • Overview of the FY25 Full-year Forecasts

  • Shareholder Returns

  • Progress of the Data Center Related Businesses

  • Direction of the Next Medium to Long-term Management Strategy

  • FY25 H1 Financial Results -P/L Summary

    -Breakdown of Changes in Net Sales & Operating Profit

  • FY25 Full-year Forecasts -P/L Summary

  • Net Sales & Operating Profit by Segment

  • FY25 H1 Financial Results -B/S Summary

  • CAPEX, Depreciation & Amortization and R&D Expenses

Appendix

© FURUKAWA ELECTRIC CO., LTD. 3



FY25 H1 Financial Results

and FY25 Full-year Forecasts

© FURUKAWA ELECTRIC CO., LTD. 4



  • Net sales and each level of profit increased compared to last year

(JPY billion, JPY/kg , JPY/USD)

FY24_H1

FY25_H1

YoY change

a

b

b-a

Net sales

570.4

610.7

+40.3

Operating profit

17.5

19.4

+1.8

Ordinary profit

19.0

20.5

+1.5

Profit attributable to owners of parent

11.2

12.9

+1.8

Average copper price 1,497

1,461

(36)

Average exchange rate 153

146

(7)

5

Overview of the FY25 Full-year Forecas ts
  • Full-year forecasts remains unchanged

* Announced on August 7, 2025

(Reference)

(JPY billion, JPY/kg , JPY/USD)

FY24

Results

FY25

Previous forecasts*

FY25

Forecasts

YoY change

a

b

ｃ

c-a

Net sales

1,201.8

1,200.0

1,200.0

(1.8)

Operating profit

47.1

53.0

53.0

+5.9

Ordinary profit

48.6

52.0

52.0

+3.4

Profit attributable to owners of parent

33.4

36.0

36.0

+2.6

Average copper price 1,478

1,335

1,398

(80)

Average exchange rate 153

140

143

(10)

Impact and response of tariffs introduced by the United States

Direct impact of tariffs

Response

Increase in cost

  • Purchases of raw materials, and products, etc.

  • Tariff burden during sales

etc.

Communications Automotive Solutions Products

& Batteries

Recovery of the cost increase

  • Incorporate the tariffs into the sales prices

  • Change the supply chain

  • Change the trade terms

etc.

H2 assumption

Copper price：JPY 1,335 /kg Exchange rate: JPY 140/ USD

6



Shareholder returns
  • For the year-end dividend, we plan to issue a dividend of JPY 120 per share

(The figures announced on May 13, 2025 remain unchanged)

120

80

60

60

120

Annual dividend per share (JPY)

FY21 FY22 FY23 FY24 FY25

(forecast)

Profit attributable owners of parent

JPY 10.1 billion

JPY 15.9 billion

JPY 6.5 billion

JPY 33.4 billion

JPY 36.0 billion

Dividend payout ratio

41.8%

35.4%

64.9%

25.3%

23.5%

Basic policy on shareholder returns

The Company's basic policy is to provide stable and continuous returns to shareholders and to link dividend payments to business performance, with a target of 30% of profit attributable to owners of parent

7



Progress of the Data Center Related Businesses

(Optical fiber & cable products, optical components)

  • Manufacturing capacity is steadily increasing, and we will accelerate the response to

    Manufacturing capacity has

    increased 5 times compared to FY23

    Expand the products

    and solutions that

    respond to the evolution of data centers

    (ultra-high count

    preconnectorized cable, products for the CPO market, etc.)

    DFB laser chip

    Manufacturing capacity has

    increased 5 times compared to FY23

    •

    MT ferrules

    • Continue to increase

    manufacturing

    capacity in steps

    Expansion of the Mie Works is

    progressing as planned, and the effects will be realized from Q4

    Rollable Ribbon

    Cable



    Changes in net sales for the data center market (Optical fiber & cable products and optical

    components)

further growing demand

Around 5 times



8



(Heat dissipation and cooling systems)

  • Continued growth is expected in the data center cooling system market, and

    manufacturing capacity will be further expanded

    ◼

    ◼

    Preparations to open the new water-cooling

    products plant are steadily progressing

    (Plan to start mass production in September 2026) Demand for water-cooling products will further increase as a result of increased heat

    generation from the higher performance

    computing devices used for generative AI

    ◼

    Expand the plants and respond to

    increased orders and new applications

    Changes in net sales of heat dissipation and cooling systems







Around

4 times

Growth compared to the forecast issued in May 2025

FTL (Philippines) water-cooling products plant

9



Management Strategy
  • Accelerating growth strategy through purpose-driven management for Vision 2030

    Challenge new domains that will create indispensables for people and society



    Phase

    3

    Phase

    2

    Phase

    1



    Composing the core of a brighter world.

    Furukawa Electric Group Purpose

    Vision 2030

    Create global infrastructure combining

    information, energy and mobility

    Advance information, and solve energy related problems

    Mobility

    Energy

    Information

    Global infrastructure



    ・Laser applications

    （Infrastructure laser®、BRACE®）

    ・Medical components/devices

    (NT products, optical probe, laser devices)

    Contribute to realization of a sustainable society through energy management (Increas e data center performance and respond to EV)



    ・Submarine/ underground cable for renewable energy, power cable for wide-area interconnections

    ・Green LP gas

    ・Superconductor

    ・Photonics-electronics convergence (ELS ,

    membrane modulator)

    ・High voltage wire harness/connector

    ・High voltage components/junction box

    Larger capacity data centers, and expansion of energy-saving solutions that support this trend



・Preconnectorized cable*

（RR cable + MT ferrule)

・DFB laser chip

＊ Cable with connector

・Heat sink

・Tape for semiconductor process

・Aluminum blanks for HDD

・Copper foil for high frequency circuit boards

10

FY25 H1 Financial Results

and FY25 Full-year Forecasts (detailed)

© FURUKAWA ELECTRIC CO., LTD. 11





FY25 H1 Financial Results -P/L Summary
  • Net sales and profit increased year-on-year, with progress in line with expectations

(JPY billion, JPY/kg, JPY/USD)

FY24_H1

FY25_H1

YoY change

Breakdown of change

a

b

b-a

Net sales

570.4

610.7

+40.3

See page 13

Operating profit

17.5

19.4

+1.8

See page 14

（Margin）

3.1%

3.2%

+0.1

Interest income (expenses)

(4.0)

(3.9)

+0.1

Share of profit (loss) of entities accounted

for using equity method

6.2

5.1

(1.1)

Foreign exhange gains (losses)

(2.6)

(2.0)

+0.6

Ordinary profit

19.0

20.5

+1.5

（Margin）

3.3%

3.4%

+0.0

Extraordinary income (losses)

(3.1)

0.4

+3.5

・Extraordinary income

+0.4 [1.5→1.9]

・Extraordinary loss

+3.1 [(4.6)→(1.5)]

Income taxes

(3.1)

(6.3)

(3.2)

Profit attributable to non-controlling interests

(1.6)

(1.6)

+0.0

Profit attributable to owners of

parent

11.2

12.9

+1.8

（Margin）

2.0%

2.1%

+0.2

Average copper price

1,497

1,461

(36)

Average exhange rate

153

146

(7)

12



FY25H1 Financial Results -Breakdown of Changes in Net Sales


(JPY billion)

JPY+40.3 billion

0

Including changes in the scope of consolidation

13

FY25H1 Financial Results


-Breakdown of Changes in Operating Profit

(JPY billion)

JPY +1.9 billion

Depreciation expenses: (0.6) R&D expenses: (2.6)

Impact of TWD appreciation : (0.6)

0

Energy Infrastructure: (0.1) Automotive Products & Batteries: (0.6) Electronics Component Material: (0.1) Functional Products: (0.8)

Others: +0.1

Communications Solutions: +3.6 Automotive Products & Batteries: +1.8 Electronics Component Material: (0.9) Functional Products: +0.9

Others: (0.5)

Communications Solutions: +8.4 Energy Infrastructure: +0.4 Automotive Products & Batteries: (0.6) Electronics Component Material: +0.2 Functional Products: +1.5

Others: +0.1

14



FY25 Full-year Forecas ts -P/L Summary
  • Full-year forecasts remain unchanged

(JPY billion, JPY/kg, JPY/USD)

FY24

Results

FY25

Previous forecasts*

FY25

Forecasts

YoY change

Change from previous forecasts

a

b

c

c-a

c-b

Net sales

1,201.8

1,200.0

1,200.0

(1.8)

-

Operating profit

47.1

53.0

53.0

+5.9

-

（Margin）

3.9%

4.4%

4.4%

+0.5

-

Interest income (expenses)

(8.0)

-

-

-

-

Share of profit (loss) of entities accounted

for using equity method

10.6

-

-

-

-

Foreign exhange gains (losses)

(2.2)

-

-

-

-

Ordinary profit

（Margin）

48.6

4.0%

52.0

4.3%

52.0

4.3%

+3.4

+0.3

-

-

Extraordinary income (losses)

5.5

6.0

6.0

+0.5

-

Income taxes

(16.8)

-

-

-

-

Profit attributable to non-controlling interests

(4.0)

-

-

-

-

Profit attributable to owners of parent

33.4

36.0

36.0

+2.6

-

（Margin）

2.8%

3.0%

3.0%

+0.2

-

Average copper price

1,478

1,335

1,398

(80)

+63

Average exhange rate

153

140

143

(10)

+3

H2 assumption

Copper price：JPY 1,335 /kg Exchange rate: JPY 140/ USD

*Announced on August 7, 2025 15



Net Sales & Operating Profit by Segment

  • Full-year forecasts remain unchanged

（JPY billion）

Net sales

Operating profit

Net sales

Operating profit

FY24_H1

FY25_H1

YoY change

FY24_H1

FY25_H1

YoY change

FY24

Results

FY25

Previous forecasts*

FY25

Forecasts

YoY change

Change from previous

forecasts

FY24

Results

FY25

Previous forecasts*

FY25

Forecasts

YoY change

Change from previous

forecasts

a

b

b-a

ｃ

ｄ

d-c

e

f

g

g-e

g-f

h

i

j

j-h

j-i

Infrastructure

143.9

172.2

+28.3

(2.4)

2.7

+5.1

309.1

375.0

375.0

+65.9

-

5.8

14.0

14.0

+8.2

-

Communications Solutions

76.7

103.4

+26.8

(5.6)

0.1

+5.7

167.0

235.0

235.0

+68.0

-

(4.0)

7.5

7.5

+11.5

-

Energy infrastructure

67.2

68.8

+1.5

3.2

2.6

(0.7)

142.1

140.0

140.0

(2.1)

-

9.8

6.5

6.5

(3.3)

-

Electronics & Automotive Systems

350.6

352.1

+1.4

14.5

13.1

(1.4)

736.4

665.0

665.0

(71.4)

-

32.6

27.0

27.0

(5.6)

-

Automotive Products & Batteries

196.8

194.7

(2.1)

11.3

10.8

(0.5)

409.5

370.0

370.0

(39.5)

-

27.6

22.0

22.0

(5.6)

-

Electronics Component Materials

153.8

157.4

+3.6

3.2

2.2

(0.9)

327.0

295.0

295.0

(32.0)

-

5.0

5.0

5.0

0.0

-

Functional Products

72.4

80.7

+8.2

7.9

7.4

(0.6)

147.0

160.0

160.0

+13.0

-

14.1

17.0

17.0

+2.9

-

Service

and Developments, etc.

16.5

19.9

+3.4

(2.4)

(3.7)

(1.3)

34.8

40.0

40.0

+5.2

-

(5.4)

(5.0)

(5.0)

+0.4

-

Elimination of intra-company transactions

(13.1)

(14.1)

(1.0)

(0.1)

(0.1)

+0.0

(25.6)

(40.0)

(40.0)

(14.4)

-

(0.1)

0.0

0.0

+0.1

-

Total

570.4

610.7

+40.3

17.5

19.4

+1.8

1,201.8

1,200.0

1,200.0

(1.8)

-

47.1

53.0

53.0

+5.9

-

* Announced on August 7, 2025

16



Operating Profit by Segment

Operating profit of main segments

(JPY billion)

Segments

Sub-segments

FY24 Results

FY25 Current Forecasts

YoY change

Full-year forecasts Main reason of YoY change

H1

H2

H1

Results

H2

Forecasts

H1

H2

a

b

b-a

Infrastructure

Communications Solutions

(5.6)

1.6

(4.0)

0.1

7.4

7.5

+5.7

+5.8

+11.5

  • Increased net sales of data center related products (realize benefits from investing in increased production)

  • Differences in profitability of individual projects

Energy

Infrastructure

3.2

6.6

9.8

2.6

3.9

6.5

(0.7)

(2.6)

(3.3)

Electronics & Automotive Systems

Automotive Products & Batteries

11.3

16.3

27.6

10.8

11.2

22.0

(0.5)

(0.9)

(5.1)

+0.9

(5.6)

0.0

  • Deconsolidation of Furukawa Battery Co., Ltd. (Q4)

  • Increased fixed expenses

  • Decreased sales in Chinese and Southeast Asian

market (from Q2)

Electronics Component Material

3.2

1.9

5.0

2.3

2.8

5.0

Functional Products

7.9

6.2

14.1

7.4

9.6

17.0

(0.6)

+3.5

+2.9

  • Firm demand for data center related products

Consolidated total

(include service and developments, etc.

17.5

29.6

47.1

19.4

33.6

53.0

+1.8

+4.1

+5.9

segment, and elimination)

(Reference) Upper: Average copper price JPY/kg



Lower: Average foreign exchange JPY/USD

FY24_H1

FY24_H2

FY24

FY25_H1

FY25_H2

forecasts

FY25

(ref.)

1,497

1,460

1,478

1,461

1,335

1,398

153

153

153

146

140

143

Including foreign exchange impact of about JPY(2.0) billion

17



1-(1) Infrastructure (Communications Solutions)

FY25_Forecasts

  • Respond to the impact of the US tariffs

  • Strengthen development, manufacturing, and sales system of products for the data center market

*2 Distributed Feedback Laser

DFB laser*2

MT ferrules

Rollable ribbon cable and solution

Key points

Unchanged

FY25_H1 Results Increased profit

（JPY billion）

FY24

Results

FY25

previous forecasts *1

FY25

Forecasts

YoY change

Change from previous forecasts

a

b

c

c-a

c-b

Net sales

167.0

235.0

235.0

+68.0

-

Operating profit

(4.0)

7.5

7.5

+11.5

-

on higher revenue

（JPY billion）

FY24_H1

FY25_H1

YoY

change

a

b

b-a

Net sales

76.7

103.4

+26.8

Operating profit

(5.6)

0.1

+5.7

Recognition of the business environment

＞＞

FY25_H1

FY25_H2

＞＞

Increased demand for the data center market

(Data center operators, dark fiber and communication system providers)

【Factors affecting profits】

(+) Increased sales of data center related products, etc.

(±) Impact of new consolidation

*1 Announced on August 7, 2025

18





1-(2) Infrastructure (Energy Infrastructure)

FY25_H1 Results Decreased profit

on higher revenue

（JPY billion）

FY24_H1

FY25_H1

YoY

change

a

b

b-a

Net sales

67.2

68.8

+1.5

Operating profit

3.2

2.6

(0.7)

【Factors affecting profits】

Domestic extra-high voltage

Steady demand for renewal of underground power cable in Japan and renewable energy projects

Submarine lines

China

Unclear when demand will recover

  • Japan extra-high voltage, renewable energy and functional power cable demand will continue to be firm

    FY25_Forecasts

    （JPY billion）

    FY24

    Results

    FY25

    previous forecasts*

    FY25

    Forecasts

    YoY change

    Change from previous forecasts

    a

    b

    c

    c-a

    c-b

    Net sales

    142.1

    140.0

    140.0

    (2.1)

    -

    Operating profit

    9.8

    6.5

    6.5

    (3.3)

    -

    Unchanged

Recognition of the business environment

＞＞

FY25_H1

FY25_H2

＞＞

Functional power cable/components

Steady demand

Key points

* Announced on August 7, 2025

  • Secure orders with a focus on profits

  • Increase cable manufacturing and installation capacity

    Domestic extra-high voltage and submarine lines

Renewable energy projects

Transmission and distribution components

Rakuraku aluminum cableⓇ

  • Increase sales by promoting marketing activities

    19



    Net Sales and Operating Profit by Segment

    2-(1) Electronics & Automotive Systems (Automotive Products & Batteries )

    FY25_H1 Results Decreased profit

    on lower revenue

    （JPY billion）

    FY24_H1

    FY25_H1

    YoY

    change

    a

    b

    b-a

    Net sales

    196.8

    194.7

    (2.1)

    Operating profit

    11.3

    10.8

    (0.5)

    【Factors affecting profits】

    (-) Decline in net sales of automotive batteries

    FY25_Forecasts

    （JPY billion）

    FY24

    Results

    FY25

    previous forecasts *1

    FY25

    Forecasts

    YoY

    change*2

    Change from previous forecasts

    a

    b

    c

    c-a

    c-b

    Net sales

    409.5

    370.0

    370.0

    (39.5)

    -

    Operating profit

    27.6

    22.0

    22.0

    (5.6)

    -

    Unchanged

Recognition of the business environment

＞＞

FY25_H1

FY25_H2

＞＞

Decreased sales in Chinese and Southeast Asian market

Customer vehicle production volume remains unchanged from the previous year

Automotive Products

Assuming deconsolidation

from Q4

Batteries

Key points

*1 Announced on August 7, 2025

*2 Impact of the deconsolidation of the batteries business (assuming Q4)

Net sales: About JPY (21.0) billion Operating profit: About JPY (2.0) billion

  • Respond to the impact of the US tariffs

  • Develop products for the EV market

    Aluminum wire harnesses and high-voltage products

  • Automation of assembly

    20



    Net Sales and Operating Profit by Segment

    2-(2) Electronics & Automotive Systems (Electronics Component Material)

    FY25_H1 Results Decreased profit

    on higher revenue

    （JPY billion）

    FY24_H1

    FY25_H1

    YoY change

    a

    b

    b-a

    Net sales

    153.8

    157.4

    +3.6

    Operating profit

    3.2

    2.2

    (0.9)

    【Factors affecting profits】

    (-) Impact of exchange rates and copper prices (fundamentally in line with last year's level)

    FY25_Forecasts

    （JPY billion）

    FY24

    Results

    FY25

    previous forecasts *1

    FY25

    Forecasts

    YoY change

    Change from previous forecasts

    a

    b

    c

    c-a

    c-b

    Net sales

    327.0

    295.0

    295.0

    (32.0)

    *2

    -

    Operating profit

    5.0

    5.0

    5.0

    0.0 -

    Unchanged

Recognition of the business environment

＞＞

FY25_H1

FY25_H2

＞＞

Gradual recovery in demand for electronics-related products

Key points

  • Improved product mix by expanding sales of high-value-added products

Heat-resistant oxygen-free copper strips (for power semiconductors/

heat dissipation components)

Ribbon cable and ultra fine flat wire (for telecommunications and infrastructure)

High performance products (resistance materials)

*1 Announced on August 7, 2025

*2 Including the impact of changes in copper prices and foreign currency exchange

  • Optimize sales prices and withdraw from low-margin products

    21

    3 Functional Products

    FY25_H1 Results Decreased profit

    on higher revenue

    （JPY billion）

    FY24_H1

    FY25_H1

    YoY change

    a

    b

    b-a

    Net sales

    72.4

    80.7

    +8.2

    Operating profit

    7.9

    7.4

    (0.6)

    【Factors affecting profits】

    (+) Increased sales of data center related

    Products

    (-) Impact of TWD appreciation (Copper foil)

    (-) Changes in demand of key customers

    (Tape for semiconductor process)



    FY25_Forecasts

    （JPY billion）

    FY24

    Results

    FY25

    previous forecasts*

    FY25

    Forecasts

    YoY change

    Change from previous forecasts

    a

    b

    c

    c-a

    c-b

    Net sales

    147.0

    160.0

    160.0

    +13.0

    -

    Operating profit

    14.1

    17.0

    17.0

    +2.9

    -

    FY25_Forecasts

    Recognition of the busines s environment

    Key points

    • Increase production and sales of high-value-added products for data center and renewable energy markets

    High performance

    foam products

    Thin aluminum blanks

    for HDD

    Copper foil for high frequency circuit boards

    High performance heat

    dissipation and cooling products

    Tape for semiconductor

    process

    ＞＞ FY25_H1 FY25_H2 ＞＞

Unchanged

Data center investments will continue to be active

Recognition of the busines s environment

Impact of foreign exchange (TWD appreciation)

Progress toward domestic semiconductor manufacturing in China

Key points

  • Increase production and sales of high-value-added products for data center and renewable energy markets

* Announced on August 7, 2025

High performance foam products

Thin aluminum blanks for HDD

22



FY25H1 Financial Results -B/S Summary

(JPY billion)

End of FY24

End of FY25H1

Change

Property, plant and equipment, and intangible assets

Increased by JPY 5.0 billion

Total assets Increased by JPY 44.9 billion

Investments and other assets Increased by JPY 17.2 billion

Investment securities JPY +15.9 billion













Inventories Increased by JPY 10.6 billion

Impact of projects and construction expected to be recorded as net sales in the future JPY +2.7 billion

Current assets



556.4

579.1

+22.7

Cash and deposits



60.0

66.6

+6.6

Notes and accounts receivable - trade,

and contract assets



260.6

262.5

+2.0

Total inventories

195.0

205.7

+10.6

Non-current assets



430.6

452.8

+22.2

Property, plant and equipment



277.0

280.6

+3.6

Intangible assets



22.9

24.3

+1.4

Investments and other assets

130.7

147.9

+17.2

Total assets

987.0

1,031.9

+44.9

Current liabilities



394.5

437.7

+43.2

Non-current liabilities

219.2

209.3

(9.9)

Total liabilities

613.7

647.0

+33.3

Shareholders' equity



291.5

295.2

+3.7

Accumulated other comprehensive

income



49.9

57.8

+7.8

Non-controlling interests

31.9

32.0

+0.1

Total net assets

373.3

385.0

+11.6

Total liabilities and net assets

987.0

1,031.9

+44.9

Equity capital ratio

34.6%

34.2%

(0.4)

Net interest-bearing debt

246.2

275.2

+29.0

Net D/E ratio

0.72

0.78

+0.06

a b b-a









23



FY25 forecasts

CAPEX

JPY60.0

billion



CAPEX, Depreciation & Amortization and R&D Expenses
  • Revised full-year forecast for CAPEX

    （JPY billilon）

    FY24_H1

    FY25_H1

    YoY change

    a

    b

    b-a

    CAPEX

    15.0

    23.3

    +8.3

    Depreciation and amortization

    20.4

    21.0

    +0.6

    R&D expenses

    12.4

    15.1

    +2.6

    • Mainly plan to invest in production capacity expansion

FY24

Results

FY25

Previous Forecasts*

FY25

Forecasts

YoY Change from

change previous

forecasts

c d e e-c e-d

CAPEX

JPY54.0

billion



Previous forecasts*

R&D

expense

JPY29.0

billion

38.6

54.0

60.0

+21.4 +6.0

41.3

42.0

42.0

+0.7 -

25.4

29.0

29.0

+3.6 -



* Announced on May 13, 2025

  • Communications Solutions

  • Electronics

  • Energy

    Infrastructure

  • Functional Products

  • Automotive Products & Batteries

  • Service and 24

Component Material Developments, etc.

Thank you

FURUKAWA ELECTRIC GROUP PURPOSE

Composing the core of a brighter word.

© FURUK





Appendix

  • 25 Mid-term Plan target by segment (net sales and

    operating profit)

  • Segments and Business Divisions

© FURUKAWA ELECTRIC CO., LTD. 26





Appendix

25 Mid-term Plan target by segments (net sales and operating profit)

(JPY bilion)

FY22 results

FY23 results

FY24 results

(after restatement)*1

FY25 forecasts

Net Sales

Operating

profit

Margin

Net Sales

Operating

profit

Margin

Net Sales

Operating

profit

Margin

Net Sales

Operating

profit

Margin

Infrastructure

323.9

8.6

2.7%

278.2

(11.3)

(4.0%)

309.1

5.8

1.9%

375.0

14.0

3.7%

Communications Solutions

217.6

6.5

3.0%

168.0

(13.0)

(7.7%)

167.0

(4.0)

(2.4%)

235.0

7.5

3.2%

Energy Infrastructure

106.3

2.1

2.0%

110.2

1.7

1.6%

142.1

9.8

6.9%

140.0

6.5

4.6%

Electronics &

Automotive Systems

610.3

4.7

0.8%

653.7

18.7

2.9%

736.4

32.6

4.4%

665.0

27.0

4.1%

Automotive Products &

Batteries

337.4

1.5

0.4%

379.8

15.6

4.1%

409.5

27.6

6.7%

370.0

22.0

5.9%

Electronics Component

Material

273.0

3.2

1.2%

273.9

3.1

1.1%

327.0

5.0

1.5%

295.0

5.0

1.7%

Functional Products ※

126.5

4.2

3.3%

115.4

5.5

4.8%

147.0

14.1

9.6%

160.0

17.0

10.6%

Service and Developments,

etc.

31.7

(2.1)

(6.6%)

31.6

(1.9)

(6.0%)

34.8

(5.4)

(15.4%)

40.0

(5.0)

(12.5%)

Total

(Including Eliminations,

1,066.3

15.4

1.4%

1,056.5

11.2

1.1%

1,201.8

47.1

3.9%

1,200.0

53.0

4.4%

FY25 targets (announced on May 26, 2022)

Net Sales

Operating

profit

Margin

360.0

16.0

4.4%

230.0

11.5

5.0%

130.0

4.5

3.5%

590.0

23.5

4.0%

330.0

16.5

5.0%

260.0

7.0

2.7%

165.0

19.5

11.8%

40.0

(1.0)

(2.5%)

1,115.0

58.0

5.2%

※Reference

Functional Products

(Excluding special factor*2)

114.2

1.8

1.6%

115.4

5.5

4.8%

147.0

14.1

9.6%

160.0

17.0

10.6%

143.3

15.3

10.7%

*1 Changes to segments and sub-segments, as well as partial changes to head office expenses allocated from FY25. As a result, actual results for FY24 were restated Industrial laser business will be transferred from the Infrastructure segment (Communications Solutions) to the Service & Developments, etc. segment

Metal power cable business will be transferred within the Infrastructure segment (from Communications Solutions to Energy Infrastructure)

*2 Deconsolidation of the TOTOKU from FY22Q4

(JPY billion, JPY/kg, JPY/USD)

FY22

FY23

FY24

FY25 (ref.)

FY25 target

Average copper price

1,209

1,262

1,478

1,398

1,085

Average exchange rate

135

145

153

143

110

27



Appendix Segments and Business Divisions

Segment

Sub-segment

Business Division

Infrastructure

Communications Solutions

Optical Solutions (Fiber & Cables)

FITEL Products

Broadband Solutions Business

Energy Infrastructure

Power Cable

Industrial Cable & Power Cable Accessories

Electronics & Automotive

Systems

Automotive Products

& Batteries

Automotive Products

Batteries

Electronics Component Material

Electric Conductor

Copper & High Performance Material Products

Functional Products

AT & Functional Plastics

Thermal Management Solution & Products

Memory Disk

Copper Foil

Service and Developments, etc.

28

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