Furukawa Electric Co., Ltd. TSE:5801

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

Published

Source: MarketScreener





Furukawa Electric Group FY2025 Q3 Financial Results

February 9, 2026

Koji Aoshima, Representative Director & Senior Executive Officer, Chief Financial Officer Furukawa Electric Co., Ltd.

© FURUKAWA ELECTRIC CO., LTD.

FY25Q3 Financial Results and FY25 Full-year Forecasts

  • FY25Q3 Financial Results Highlights

  • FY25Q3 Financial Results

    -P/L Summary

    -Breakdown of Changes in Net Sales & Operating Profit

  • FY25 Forecasts

    -P/L Summary

    -Operating Profit by Segment

  • Net Sales & Operating Profit by Segment

  • FY25 Q3 Results -B/S Summary

  • CAPEX, Depreciation & Amortization and R&D Expenses

  • Directed at FY26

  • Shareholder Returns

Appendix

© FURUKAWA ELECTRIC CO., LTD. 3

Agenda





FY25Q3 Financial Results and FY25 Full-year Forecasts

© FURUKAWA ELECTRIC CO., LTD.

4







FY25Q3 Financial Results Highlights

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

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

FY24_Q3

Results

FY25_Q3

Results

YoY change

  • Strong performance in the Infrastructure segment

a

b

b-a

Net sales

882.0

948.9

+66.9

Operating profit

31.4

35.1

+3.7

  • Impact of soaring copper prices

Ordinary profit

36.1

40.8

+4.6

Profit attributable to owners of parent

16.4

35.5

+19.1

  • Gain on sale of strategic shareholdings



Average copper price

1,481



1,559



+78

Average exchange rate

153

149

(4)

5





FY25Q3 Financial Results -P/L Summary

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

FY24 Q3 Results 10-12

FY25 Q3 Results 10-12

YoY change 10-12

Breakdown of change (YoY in Q3)

a'

a

b'

b

b'-a'

b-a

Net sales

311.6

882.0

338.2

948.9

+26.6

+66.9

See page 7

Operating profit

13.9

31.4

15.9

35.1

+2.1

+3.7

See page 8

(Margin)

4.4%

3.6%

4.7%

3.7%

+0.3

+0.1

Interest income (expenses) (1.9)

(5.9)

(2.2)

(6.1)

(0.3)

(0.2)

Share of profit (loss) of entities accounted for 2.1

Foreign exhange gains (losses) 2.2

8.2

(0.4)

4.3

1.2

9.3

(0.8)

+2.2

(1.0)

+1.1

(0.4)

Ordinary profit

17.1

36.1

20.4

40.8

+3.3

+4.6

(Margin)

5.5%

4.1%

6.0%

4.3%

+0.5

+0.2

Extraordinary income (losses)

(4.6)

(7.7)

10.2

10.6

+14.8

+18.3

・Extraordinary income: +17.5 [1.8 → 19.3]

Income taxes

(6.5)

(9.6)

(7.4)

(13.7)

(1.0)

(4.1)

・Extraordinary loss: +0.8 [(9.5) → (8.7)]

Profit attributable to non-controlling interests

(0.9)

(2.5)

(0.6)

(2.1)

+0.3

+0.4





using equity method





Profit attributable to owners of parent

5.2

16.4

22.6

35.5

+17.4

+19.1

（Margin） 1.7%

1.9%

6.7%

3.7%

+5.0

+1.9

Average copper price

1,449

1,481

1,753

1,559

+304

+78

Average exhange rate

152

153

154

149

+2

(4)

6



FY25Q3 Financial Results -Breakdown of Changes in Net Sales

(JPY billion)

JPY+66.9 billion

0

Including changes in the scope of consolidation

7





FY25Q3 Financial Results

-Breakdown of Changes in Operating Profit

(JPY billion)

JPY+3.7 billion

Depreciation expenses: (1.9)

R&D expenses: (3.6)

Impact of TWD

appreciation : (0.6)

FY24_Q3

Increase in sales

Raw material & fuel prices,

logistics expenses

Depreciation and R&D expenses

Other fixed expenses

Improvement effects

Foreign exchange

FY25_Q3

Communications Solutions: +7.6

Energy Infrastructure: +0.9 Automotive Products & Batteries: +1.4 Electronics Component Material: (0.3) Functional Products: +2.1

Others: +0.5

Communications Solutions: (0.2)

Energy Infrastructure: (0.1) Automotive Products & Batteries: (0.9) Electronics Component Material: (0.9) Functional Products: (1.9)

Communications Solutions: +10.4

Energy Infrastructure: (0.4) Automotive Products & Batteries: +1.3 Electronics Component Material: +0.3 Functional Products: +1.5

8





FY25 Forecasts -P/L Summary

  • The forecasts for net sales and each stage of profit have been revised up

    （JPY billion, JPY/kg, USD/JPY）

    FY24*1

    FY25

    Previous

    forecasts*2

    FY25

    Forecasts

    YoY change

    Change from previous forecasts

    a

    b

    c

    c-a

    c-b

    Net sales

    1,201.8

    1,200.0

    1,300.0

    +98.2

    +100.0

    Operating profit

    47.0

    53.0

    56.0

    +9.0

    +3.0

    (Margin)

    3.9%

    4.4%

    4.3%

    +0.4

    (0.1)

    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

    48.5

    52.0

    65.0

    +16.5

    +13.0

    (Margin)

    4.0%

    4.3%

    5.0%

    +1.0

    +0.7

    Extraordinary income (losses)

    5.5

    6.0

    16.5

    +11.0

    +10.5

    Income taxes

    (16.7)

    -

    -

    -

    -

    Profit attributable to non-controlling interests

    (3.9)

    -

    -

    -

    -

    Profit attributable to owners of parent

    33.4

    36.0

    54.0

    +20.6

    +18.0

    （Margin）

    2.8%

    3.0%

    4.2%

    +1.4

    +1.2

    Average copper price

    1,478

    1,398

    1,694

    +216

    +296

    Average exhange rate

    153

    143

    149

    (4)

    +6

    • Strong sales of data center related products and firm

      performance in the Automotive Products business

    • Impact of soaring copper prices

      （Electronics Component Material, Copper foil）

    • Increase in share of profit of entities accounted for using equity method

    • Improvement in foreign exchange gains (losses)

    • Increased gain on revision of the retirement benefit plan (extraordinary income) due to rising stock prices

Q3 result:

Copper price:JPY1,753/kg Exchange rate:JPY154/USD

Q4 assumptions:

Copper price:JPY2,100/kg

Exchange rate:JPY150/USD

Previous forecast:

H2 assumptions

Copper price:JPY1,335/kg Exchange rate:JPY140/USD

*1 Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination (Refer to Appendix 1-1)

*2 Announced on May 13, 2025 9



FY25 Forecasts -Operating Profit by Segment

Operating profit of major segments

(JPY billion)

Change from previous forecasts

Major revised factors in the full-year forecast

Segments Sub-segments

H1

Results

H2

Forecasts

FY25

Previous forecasts*1

H1

Results*2

H2

Forecasts

FY25

Forecasts

Q3

Results

Q4

Forecasts

a

b

b-a

Infrastructure

Communications Solutions

0.1

7.4

7.5

(0.0)

2.7

7.3

10.0

10.0

+2.5 Increased sales of data center related products

(Realization of the benefits from investing in increased production)

Energy

Infrastructure

2.6

3.9

6.5

2.6

3.0

2.4

5.4

8.0

+1.5 Firm demand and price optimization

Electronics

& Automotive Systems

Automotive Products & Batteries

10.8

11.2

22.0

10.8

8.1

7.1

15.2

26.0

+4.0 Price optimization, limited fixed expenses, etc.

Electronics Component Material

2.2

2.8

5.0

2.2

0.3

1.5

1.8

4.0

(1.0) Soaring copper prices

Functional Products

7.4

9.6

17.0

7.4

3.3

4.3

7.6

15.0

(2.0) Soaring copper prices

Delayed recovery in tapes for

semiconductor process

Consolidated total 19.4

(include service and developments, etc. segment, and elimination)

33.6

53.0

19.2

15.9

20.9

36.8

56.0

+3.0

*1 Announced on November 10, 2025 (unchanged from the figures announced on August 7, 2025)

*2 Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination (Refer to Appendix 1-2)

10





Net Sales & Operating Profit by Segment (Q3 Results/ Full-year Forecasts)

Net sales

Operating profit

Net sales

Operating profit

FY24*1

FY25

Previous forecasts*2

FY25

Forecasts

YoY change

Change from previous forecasts

FY24*1

FY25

Previous forecasts*2

FY25

Forecasts

YoY change

Change from previous forecasts

e

309.1

f

g

g-e

g-f

h

i

j

j-h

j-i

375.0

375.0

+65.9

-

5.7

14.0

18.0

+12.3

+4.0

167.0

235.0

235.0

+68.0

-

(4.1)

7.5

10.0

+14.1

+2.5

142.1

140.0

140.0

(2.1)

-

9.8

6.5

8.0

(1.8)

+1.5

736.4

665.0

770.0

+33.6

+105.0

32.6

27.0

30.0

(2.6)

+3.0

409.5

370.0

395.0

(14.5)

+25.0

27.6

22.0

26.0

(1.6)

+4.0

327.0

295.0

375.0

+48.0

+80.0

5.0

5.0

4.0

(1.0)

(1.0)

147.0

160.0

155.0

+8.0

(5.0)

14.1

17.0

15.0

+0.9

(2.0)

34.8

40.0

40.0

+5.2

-

(5.4)

(5.0)

(7.0)

(1.6)

(2.0)

(25.6)

(40.0)

(40.0)

(14.4)

-

(0.1)

0.0

0.0

+0.1

-

1,201.8

1,200.0

1,300.0

+98.2

+100.0

47.0

53.0

56.0

+9.0

+3.0

(JPY billion)

FY24_Q3

FY25_Q3

YoY change

FY24_Q3

FY25_Q3

YoY change

a

b



b-a

ｃ

ｄ

d-c

Infrastructure

222.5

262.1

+39.6

0.7

8.2

+7.5

Communications Solutions

119.6

159.4

+39.8

(5.9)

2.7

+8.5

Energy infrastructure

102.9

102.7

(0.2)

6.6

5.6

(1.0)

Electronics & Automotive Systems

540.3

559.8

+19.5

22.3

21.4

(0.9)

Automotive Products & Batteries

298.4

305.5

+7.1

18.6

19.0

+0.4

Electronics Component Materials

241.9

254.3

+12.4

3.7

2.5

(1.2)

Functional Products

112.1

119.2

+7.1

12.2

10.6

(1.6)

Service

and Developments, etc.

26.2

30.4

+4.2

(3.8)

(5.0)

(1.3)

Elimination of intra-company transactions

(19.1)

(22.6)

(3.5)

(0.1)

(0.1)

(0.0)

Total

882.0

948.9

+66.9

31.4

35.1

+3.7

*1 Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination (Refer to Appendix 1-2)

*2 Announced on November 10, 2025 (unchanged from the figures announced on August 7, 2025) 11



Net Sales and Operating Profit by Segment



1-(1) Infrastructure (Communications Solutions)

FY25_Forecasts

DFB laser chips*3

MT ferrules

and solution

  • Develop, increase production and expand sales of data center

related products

Rollable ribbon cables

Key points

＞＞

FY25_H2

FY25_H1

＞＞

Recognition of the business environment

Increased demand for the data center market

(Data center operators, dark fiber and communication system

providers)

FY25_Q3 Results

(JPY billion)

FY24_Q3

FY25_Q3

YoY change

a

b

b-a

Net sales

119.6

159.4

+39.8

Operating

profit

(5.9)

2.7

+8.5

(JPY billion)

FY24*1

FY25

previous forecasts*2

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

(4.1)

7.5

10.0

14.1

+2.5

【Factors affecting profits】

(+) Increased sales of data center related

products, etc.

(±) Impact of new consolidation

*1 Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination (Refer to Appendix 1-2)

*2 Announced on November 10, 2025 (unchanged from the figures announced on August 7, 2025)

*3 Distributed Feedback Laser chips 12



Net Sales and Operating Profit by Segment



1-(2) Infrastructure (Energy Infrastructure)

FY25_Forecasts

Key points

Plan to deconsolidate from Q4

(Shenyang Furukawa Cable Co., Ltd.)

China Business

Steady demand

Functional power

cable/components

Submarine lines

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

Domestic extra-

high voltage

＞＞

FY25_H2

FY25_H1

＞＞

Recognition of the business environment

  • Increase cable manufacturing and installation capacity

  • Increase sales by promoting marketing activities

Transmission and distribution components

Rakuraku aluminum cableⓇ

Renewable energy projects

Domestic extra-high voltage and submarine cables

FY25_Q3 Results

(JPY billion)

FY24_Q3

FY25_Q3

YoY change

a

b

b-a

Net sales

102.9

102.7

(0.2)

Operating

profit

6.6

5.6

(1.0)

(JPY billion)

FY24

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

8.0

(1.8)

+1.5

【Factors affecting profits】

・Continued firm demand in Japan for extra-high voltage, renewable energy and functional power cables (excluding for the construction and wholesale market)

* Announced on November 10, 2025 (unchanged from the figures

announced on August 7, 2025) 13



Net Sales and Operating Profit by Segment



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

FY25_Forecasts

Automotive

Products

Batteries

  • Respond to the impact of the US tariffs

  • Automation of assembly

  • Develop products for the EV market

Key points

＞＞

FY25_H2

FY25_H1

＞＞

Recognition of the business environment

Aluminum wire harnesses and high-voltage products

deconsolidation from Q4

Decreased sales in Chinese and Southeast Asian market

Customer vehicle production volume remains unchanged from the previous year

FY25_Q3 Results

(JPY billion)

FY24_Q3

FY25_Q3

YoY change

a

b

b-a

Net sales

298.4

305.5

+7.1

Operating

profit

18.6

19.0

+0.4

(JPY billion)

FY24

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

395.0

(14.5)

+25.0

Operating

profit

27.6

22.0

26.0

(1.6)

+4.0

【Factors affecting profits】

(+)Firm performance in the Automotive

Products business

(-) Decline in net sales of automotive batteries

*1 Announced on November 10, 2025 (unchanged from the figures

announced on August 7, 2025)

*2 Impact of the deconsolidation of the batteries business Net sales: About JPY (21.0) billion

Operating profit: About JPY (2.0) billion 14



Net Sales and Operating Profit by Segment



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

FY25_Forecasts

Recognition of the business environment

  • Optimize sales prices and withdraw from low-margin products

High performance

resistance materials (for smartphones and xEV)

Ribbon cable &Square cable

(for high performance

inductors and memory)

Oxygen-free copper product lineup

(for power semiconductors

and heat dissipation products)

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

products

Key points

soaring copper prices

Gradual recovery in demand for electronics-related products

＞＞ FY25_H1 FY25_H2 ＞＞

FY25_Q3 Results

(JPY billion)

FY24_Q3

FY25_Q3

YoY change

a

b

b-a

Net sales

241.9

254.3

+12.4

Operating

profit

3.7

2.5

(1.2)

(JPY billion)

FY24

FY25

previous forecasts*1

FY25

Forecasts

YoY change

Change from previous *2 forecasts

a

b

c

c-a

c-b

Net sales

327.0

295.0

375.0

+48.0

+80.0

Operating

profit

5.0

5.0

4.0

(1.0)

(1.0)

【Factors affecting profits】

(-) Impact of exchange rates and copper

prices

*1 Announced on November 10, 2025 (unchanged from the figures announced on August 7, 2025)

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

currency exchange 15



Net Sales and Operating Profit by Segment



3 Functional Products

FY25_Forecasts

  • Increase production and sales of high-value-added products for

data center and renewable energy markets

High performance foam products

Key points

Continued momentum in the data center investments

＞＞

FY25_H2

FY25_H1

＞＞

Recognition of the business environment

Copper foil for high frequency circuit boards

Thin aluminum blanks for HDD

High performance heat dissipation and cooling products

Tapes for semiconductor process

Progress toward domestic semiconductor manufacturing in China

Impact of foreign exchange (TWD appreciation) and soaring copper prices

FY25_Q3 Results

(JPY billion)

FY24_Q3

FY25_Q3

YoY change

a

b

b-a

Net sales

112.1

119.2

+7.1

Operating

profit

12.2

10.6

(1.6)

(JPY billion)

FY24

FY25

previous forecasts*

FY25

Forecasts

YoY change

Change from previous forecasts

a

b

c

c-a

c-b

Net sales

147.0

160.0

155.0

+8.0

(5.0)

Operating

profit

14.1

17.0

15.0

+0.9

(2.0)

【Factors affecting profits】

(+) Increased sales of data center related

products

(-) Impact of TWD appreciation and soaring copper prices (Copper foil)

(-) Changes in demand from key

customers

(Tapes for semiconductor process)

* Announced on November 10, 2025 (unchanged from the figures

announced on August 7, 2025) 16





FY25 Q3 Results -B/S Summary

(JPY billion) End of FY24*

End of FY25Q3

Change

a b b-a

Total assets Increased by JPY 39.9 billion

Reorganization of the Furukawa

Battery Group :

Cash and deposits :

Notes and accounts receivable -

trade, and contract assets : Total inventories : Investment securities:

Impact of foreign currency exchange :

Impact of change in scope of consolidation :

JPY (52.0) billion

JPY +16.0 billion

JPY +20.0 billion

JPY +20.0 billion

JPY +10.0 billion

Working capital

and others

JPY 56.0 billion

JPY +5.0 billion

JPY +10.0 billion

Current assets



556.4

593.1

+36.7

Cash and deposits



60.0

72.0

+12.1

Notes and accounts receivable - trade,

and contract assets



260.6

264.9

+4.3

Total inventories



195.0

208.8

+13.8

Non-current assets



431.6

434.9

+3.3

Property, plant and equipment



277.0

261.9

(15.1)

Intangible assets



24.0

23.9

(0.1)

Investments and other assets

130.6

149.0

+18.4

Total assets

988.1

1,028.0

+39.9

Current liabilities



394.5

432.6

+38.1

Non-current liabilities

219.8

201.3

(18.5)

Total liabilities

614.3

633.8

+19.6

Shareholders' equity



291.5

319.4

+27.9

Accumulated other comprehensive income



49.9

58.3

+8.3

Non-controlling interests

32.3

16.4

(15.9)

Total net assets

373.8

394.1

+20.4

Total liabilities and net assets

988.1

1,028.0

+39.9

Equity capital ratio

34.6%

36.7%

+2.1

Net interest-bearing debt

246.2

245.4

(0.8)

Net D/E ratio

0.72

0.65

(0.07)

* Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination (Refer to Appendix 1-3) 17





CAPEX, Depreciation & Amortization and R&D Expenses

  • Full-year forecast remains unchanged

    （JPY billilon）

    FY24_Q3

    FY25_Q3

    YoY change

    a

    b

    b-a

    CAPEX

    23.8

    35.8

    +12.0

    Depreciation and amortization

    30.4

    32.4

    +1.9

    R&D expenses

    19.1

    22.6

    +3.6

    FY24*1

    FY25

    Previous Forecasts*2

    FY25

    Forecasts

    YoY Change from

    change previous

    forecasts

    Trend over the 2025 Mid-term Plan Period

    (JPY billion)

    38.6

    60.0

    60.0

    +21.4

    -

    41.4

    42.0

    42.0

    +0.7

    -

    25.4

    29.0

    29.0

    +3.6

    -

    ｃ d e e-c e-d

    80.0

    60.0

    40.0

    20.0

    CAPEX

    Depreciation and

    amortization

    R&D expenses

    *1 Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination

    *2 Announced on November 10, 2025

    0.0

    FY22 FY23 FY24 FY25

    forecast

    18



    Directed at FY26

  • Continued robust demand for data center related products

  • Actively invest in increasing production in order to capture the demand

    Illustrative operating profit potential of major segments in FY2026

    (JPY: billion)

    Segments Sub-segments

    FY24

    Results*

    FY25 Forecasts

    FY26

    Forecasts

    Premise

    H1

    Results*

    H2

    Forecasts

    Infrastructure

    Communications

    Solutions

    (4.1)

    (0.0)

    10.0

    10.0

    Increase in net sales of data center related products

    (Rollable Ribbon Cables, MT ferrules, DFB laser chips, etc. )

    Energy Infrastructure

    9.8

    2.6

    5.4

    8.0

    Firm demand for extra-high voltage underground power cables, renewable energy, functional power cables and transmission components

    Electronics & Automotive Systems

    Automotive Products & Batteries

    27.6

    10.8

    15.2

    26.0

    Impact of the deconsolidation of battery business

    (from 25Q4)

    Customer vehicle production volumes will remain unchanged from FY25

    Electronics Component Material

    5.0

    2.2

    1.8

    4.0

    No major changes in the demand environment

    Closely monitor the impact of fluctuations in copper prices

    Functional Products

    14.1

    7.4

    7.6

    15.0

    Increase in net sales of data center related products

    (Heat dissipation and cooling products, Copper foil for high frequency boards, Tapes for semiconductor process, etc.)

    * Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination (Refer to Appendix 1-2) 19





    Shareholder Returns

  • For the year-end dividend, we plan to issue a dividend of JPY 160 per share

(Raised by JPY 40 from JPY 120 announced on May 13, 2025)

Annual dividend per share (JPY)

160

120

60 80 60

120

FY21 FY22 FY23 FY24 FY25

(previous forecast)

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

JPY 54.0

billion

Dividend payout ratio

41.8%

35.4%

64.9%

25.4％*

23.5%

20.9%

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

* Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination (Refer to Appendix 1-1)

20

Thank You

FURUKAWA ELECTRIC GROUP PURPOSE





Appendix

1．Changes from FY25_Q3 - P/L, Operating Profit by Segment, B/S

2．25 Mid-term Plan targets by segment (net sales and operating profit)

3．Segments and Business Divisions

© FURUKAWA ELECTRIC CO., LTD.

22





Appendix 1-1．Changes from FY25_Q3 - P/L

Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination









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

FY24

FY25_H1

Net sales

1,201.8

1,201.8

610.7

610.7

Operating income

47.1

47.0

19.4

19.2

（Margin）

3.9%

3.9%

3.2%

3.1%

Interest income (expenses)

(8.0)

(8.0)

(3.9)

(3.9)



Share of profit (loss) of entities

accounted for using equity method

10.6

10.6

5.1

5.1

Foreign exhange gains (losses)

(2.2)

(2.2)

(2.0)

(2.0)

Ordinary income

48.6

48.5

20.5

20.4

（Margin）

4.0%

4.0%

3.4%

3.3%

Extraordinary income/loss

5.5

5.5

0.4

0.4

Income taxes

(16.8)

(16.7)

(6.3)

(6.3)

Profit attributable to non-controlling (4.0)

(3.9)

(1.6)

(1.5)

Profit attributable to 33.4

33.4

12.9

12.9

（Margin） 2.8%

2.8%

2.1%

2.1%

interests

owners of parent

Average copper price

1478

1478

1461

1461

Average exhange rate

153

153

146

146

23



Appendix 1-2．Changes from FY25_Q3

- Operating Profit by Segment

Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination

（JPY billion）

FY24

FY25_H1

Infrastructure

5.8

5.7

2.7

2.6

Communications Solutions



(4.0)

(4.1)

0.1

(0.0)

Energy infrastructure

9.8

9.8

2.6

2.6

lectronics & 32.6 32.6 13.1 13.1

utomotive Systems

Automotive Products & 27.6

27.6

10.8

10.8

E A

Batteries



Electronics Component



5.0 5.0 2.2 2.2

Materials

Functional Products 14.1 14.1 7.4 7.4



Service

and Developments, etc.

(5.4)

(5.4)

(3.7)

(3.7)

Elimination of intra-company transactions

(0.1)

(0.1)

(0.1)

(0.1)

Total

47.1

47.0

19.4

19.2

24



Appendix 1-3．Changes from FY25_Q3 - B/S

Restatement following the determination in FY25_Q3 of the provisional accounting treatment concerning business combination

End of FY25_H1

End of FY24

(JPY billion)

Current assets

556.4

556.4

579.1

579.1

Cash and deposits

60.0

60.0

66.6

66.6

Notes and accounts receivable - trade, and

contract assets

260.6

260.6

262.5

262.5

Total inventories

195.0

195.0

205.7

205.7

Non-current assets

430.6

431.6

452.8

453.6

Property, plant and equipment

277.0

277.0

280.6

280.6

Intangible assets

22.9

24.0

24.3

25.3

Investments and other assets

130.7

130.6

147.9

147.7

Total assets

987.0

988.1

1,031.9

1,032.7

Current liabilities

394.5

394.5

437.7

437.7

Non-current liabilities

219.2

219.8

209.3

209.7

Total liabilities

613.7

614.3

647.0

647.4

Shareholders' equity

291.5

291.5

295.2

295.2

Accumulated other comprehensive

income

49.9

49.9

57.8

57.8

Non-controlling interests

31.9

32.3

32.0

32.4

Total net assets

373.3

373.8

385.0

385.3

Total liabilities and net assets

987.0

988.1

1,031.9

1,032.7

Equity capital ratio

34.6%

34.6%

34.2%

34.2%

Net interest-bearing debt

246.2

246.2

275.2

275.2

Net D/E ratio

0.72

0.72

0.78

0.78

25



Appendix 2．

25 Mid-term Plan targets by segment (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

5.7

1.8%

375.0

18.0

4.8%

Communications

Solutions

217.6

6.5

3.0%

168.0

(13.0)

(7.7%)

167.0

(4.1)

(2.5%)

235.0

10.0

4.3%

Energy Infrastructure

106.3

2.1

2.0%

110.2

1.7

1.6%

142.1

9.8

6.9%

140.0

8.0

5.7%

Electronics &

Automotive Systems

610.3

4.7

0.8%

653.7

18.7

2.9%

736.4

32.6

4.4%

770.0

30.0

3.9%

Automotive Products &

Batteries

337.4

1.5

0.4%

379.8

15.6

4.1%

409.5

27.6

6.7%

395.0

26.0

6.6%

Electronics Component

Material

273.0

3.2

1.2%

273.9

3.1

1.1%

327.0

5.0

1.5%

375.0

4.0

1.1%

Functional Products†

126.5

4.2

3.3%

115.4

5.5

4.8%

147.0

14.1

9.6%

155.0

15.0

9.7%

Service and

Developments, etc.

31.7

(2.1)

(6.6%)

31.6

(1.9)

(6.0%)

34.8

(5.4)

(15.4%)

40.0

(7.0)

(17.5%)

Total

(Including Eliminations, etc.)

1,066.3

15.4

1.4%

1,056.5

11.2

1.1%

1,201.8

47.0

3.9%

1,300.0

56.0

4.3%

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%

†For 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%

155.0

15.0

9.7%

143.3

15.3

10.7%

*1 Refer to Appendix 1-2.

*2 Deconsolidation of the TOTOKU from FY22Q4

JPY/kg, USD/JPY

FY22

FY23

FY24

FY25 Forecasts

FY25 Targets

Average copper price

1,209

1,262

1,478

1,694

1,085

Average exchange rate

135

145

153

149

110

26





Appendix 3．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.

27

© FURUKAWA ELECTRIC CO., LTD.

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