Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Sumitomo Osaka Cement Co., Ltd.
Summary of Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2026 (JGAAP)
(February 10, 2026)
Company name | Sumitomo Osaka Cement Co., Ltd. | Stock Exchange Listing Tokyo | |
Stock code | 5232 | URL | https://www.soc.co.jp/ |
Representative (Job Title) Representative Director,
President
(Name) Hirotsune Morohashi
Contact Manager (Job Title) General Manager, Corporate (Name) Masahiko Ebisui (TEL) +81-3-6370-
Planning Department
Scheduled date to commence dividend payments: -
2725
Availability of preparation of supplementary explanatory materials for financial results:
Available
Availability to hold financial briefings: None
(Figures are rounded down to the nearest million yen)
Consolidated Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2026 (From April 1, 2025 to December 31, 2025)
Consolidated Operating Results (Cumulative)
(% indicates year-on-year change)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of the parent
Nine months ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
December 31, 2025
164,346
(1.1)
8,534
29.0
9,340
36.4
6,250
(6.4)
December 31, 2024
166,167
(0.8)
6,614
38.4
6,848
15.7
6,675
(37.1)
(Note) Comprehensive income Nine months ended December 31, 2025 8,467 million yen [118.3%]
Nine months ended December 31, 2024 3,878 million yen [(60.3%)]
Basic earnings
per share
Diluted earnings per share
Nine months ended
Yen
Yen
December 31, 2025
194.16
-
December 31, 2024
199.74
-
Consolidated Financial Status
Total assets
Net assets
Equity ratio
Millions of yen
Millions of yen
%
As of December 31,
2025
362,418
193,184
52.6
As of March 31, 2025
353,029
193,660
54.1
(Reference) Equity As of December 31, 2025 190,590 million yen
As of March 31, 2025 191,097 million yen
Dividend Status
Full-year dividend
End of 1Q
End of 2Q
End of 3Q
Year-end
Total
Yen
Yen
Yen
Yen
Yen
Fiscal year ended
March 31, 2025
-
60.00
-
60.00
120.00
Fiscal year ending March 31, 2026
-
60.00
-
Fiscal year ending
March 31, 2026 (forecast)
60.00
120.00
(Note) Revision of dividend forecast from the most recently announced forecast: None
Consolidated Performance Forecasts for the Fiscal Year Ending March, 31 2026 (From April 1, 2025 to March 31, 2026)
(% indicates year-on-year change)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of the parent | Basic earnings per share | |||||
Full year | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen |
225,200 | 2.6 | 14,000 | 49.7 | 13,600 | 45.2 | 10,000 | 11.0 | 311.73 | |
(Note) Revision from the most recently announced performance forecasts: None
*Notes
Significant Changes in the Scope of Consolidation during the Period under Review: None
Application of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements:
Changes in Accounting Policies, Changes in Accounting Estimation or Restatements
None
Changes in accounting policies due to the revision of accounting standards: None
Changes in accounting policies other than (i): None
Changes in accounting estimation: None
Restatements: None
Numbers of Shares Issued (Common Shares)
(i) Number of shares outstanding at the end of the period (including treasury shares) | As of December 31, 2025 | 32,068,117 shares | As of March 31, 2025 | 33,237,017 shares |
(ii) Number of treasury shares at the end of the period | As of December 31, 2025 | 375,685 shares | As of March 31, 2025 | 254,255 shares |
(iii) Average number of shares during the period (cumulative quarterly period) | Nine months ended December 31, 2025 | 32,195,060 shares | Nine months ended December 31, 2024 | 33,419,841 shares |
Review of the accompanying quarterly consolidated financial statements by certified public accountants or an audit firm: None
Explanation for the appropriate use of performance forecasts and other special notes:
The forward-looking statements contained in this report are based on information that is available to the Company at present. Therefore, there might be cases in which actual results differ materially from forecast values due to various factors. Please refer to "(3) Qualitative Information on Consolidated Performance Forecasts and Other Forward-Looking Statements" in "1. Qualitative Information on Quarterly Results" on page 3 of the attached materials for information on the above performance forecasts.
Table of Contents of Appendix
Qualitative Information on Quarterly Results 2
Qualitative Information on Consolidated Operating Results 2
Qualitative Information on Consolidated Financial Status 3
Qualitative Information on Consolidated Performance Forecasts and Other Forward-Looking Statements 3
Quarterly Consolidated Financial Statements and Significant Notes Thereto 4
Quarterly Consolidated Balance Sheet 4
Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income 6
Notes to Quarterly Consolidated Financial Statements 8
(Notes to Going Concern Assumptions) 8
(Notes in the Event of Significant Changes in Shareholders' Equity) 8
(Segment Information, etc.) 8
(Notes on Quarterly Consolidated Statement of Cash Flows) 9
Supplementary Information 10
Consolidated Profit or Loss by Segment (YoY Comparison) 10
Qualitative Information on Quarterly Results
Qualitative Information on Consolidated Operating Results
In the nine months ended December 31, 2025 (April 1, 2025 to December 31, 2025) (the "period under review"), the Japanese economy was affected by the U.S. trade policies; however, it continued to experience a moderate recovery, supported by improvements in employment and income conditions and the effects of economic measures, as well as a rebound in capital investment.
In the cement industry, domestic demand for cement was 23,388 thousand tons, down 7.0% year on year, as both public and private sector demand decreased due to a chronic labor shortage, higher construction costs, the adoption of the five-day workweek under workstyle reform initiatives mainly in the greater Tokyo area, and over-time work regulations. On the other hand, exports grew by 5.8% year on year.
As a result, the total sales volume of domestic manufacturers, including exports, decreased by 4.5% year on year to 29,966 thousand tons.
Under these circumstances, based on the "FY2023-25 Medium-Term Management Plan," which ends in the current fiscal year, our group has been working on various measures such as "improving profitability of existing businesses" to recover the profitability of the cement business and to improve profitability by acquiring market shares in next-generation optical communication parts; "building a foundation for growth" to expand scale and enhance profitability by investing resources in the electronic materials business for semiconductor manufacturing equipment, expand overseas business (the Australian business), and develop new business in the decarbonization field; and "strengthening management foundation" to develop strategies for human resources, research and development, intellectual property, and digital transformation (DX).
As a result of the above, net sales for the period under review totaled 164,346 million yen, down 1,820 million yen year on year, and ordinary profit totaled 9,340 million yen, up 2,491 million yen year on year. Profit attributable to owners of the parent decreased by 424 million yen year on year to 6,250 million yen.
An overview by business is as follows.
-
Cement
The domestic sales volume was lower than the previous year, resulting in net sales of 117,756 million yen, a decrease of 873 million yen (0.7%) year on year. However, operating profit was 2,735 million yen, an increase of 2,284 million yen (506.3%) year on year mainly due to the domestic selling price being raised in response to a cost increase.
-
Mineral Resources
Mainly due to a decrease in the sales volume of limestone for overseas and domestic steel markets, net sales were 13,140 million yen, a decrease of 120 million yen (0.9%) year on year. Operating profit was 2,221 million yen, a decrease of 283 million yen (11.3%) year on year.
-
Cement-Related Products
Net sales decreased by 1,591 million yen (8.8%) year on year to 16,418 million yen mainly due to lower sales volume of concrete structure repair and reinforcement materials as well as a decrease in repair work. Operating profit was 836 million yen, a decrease of 324 million yen (27.9%) year on year.
-
Optoelectronics
Net sales grew by 95 million yen (5.2%) year on year to 1,936 million yen, mainly due to an increase in the sales volume of optoelectronic devices. An operating loss of 73 million yen was recorded, although this represented an improvement of 232 million yen year on year due to cost reductions in optical communication parts and other factors.
-
Advanced Materials
Net sales grew by 954 million yen (8.2%) year on year to 12,560 million yen, mainly due to changes in the product mix of electronic materials for semiconductor manufacturing equipment. Operating profit grew by 109 million yen (6.7%) year on year to 1,760 million yen.
- Other
Net sales decreased by 285 million yen (10.1%) year on year to 2,534 million yen due to decreased software sales, and operating profit decreased by 84 million yen (7.6%) year on year to 1,030 million yen.
-
Cement
Qualitative Information on Consolidated Financial Status
Total assets at the end of the period under review were 362,418 million yen, up 9,388 million yen from the end of the previous fiscal year. The main changes were a 2,862 million yen increase in cash and deposits, a 2,825 million yen increase in electronically recorded monetary claims - operating, and a 2,924 million yen increase in investment securities.
Total liabilities at the end of the period under review amounted to 169,234 million yen, up 9,864 million yen from the end of the previous fiscal year. The main changes were a 5,000 million yen increase in bonds payable (including current portion of bonds payable), a 2,340 million yen increase in long-term borrowings, and a 2,358 million yen increase in deferred tax liabilities.
Net assets at the end of the period under review totaled 193,184 million yen, down 475 million yen from the end of the previous fiscal year. The main changes were a 2,159 million yen decrease in retained earnings, a 448 million yen increase due to the acquisition and cancellation of treasury shares (a decrease in net assets), and a 2,294 million yen increase in valuation difference on available-for-sale securities.
Qualitative Information on Consolidated Performance Forecasts and Other Forward-Looking Statements
The consolidated performance forecast announced on November 11, 2025 remains unchanged.
Quarterly Consolidated Financial Statements and Significant Notes Thereto
Quarterly Consolidated Balance Sheet
(Millions of yen) As of March 31, 2025 As of December 31, 2025
Assets
Notes and accounts receivable - trade, and contract
assets
40,992
42,717
Electronically recorded monetary claims - operating
7,912
10,737
Merchandise and finished goods
11,241
11,799
Work in process
70
326
Raw materials and supplies
23,482
21,735
Short-term loans receivable
377
513
Other
3,553
3,381
Allowance for doubtful accounts
(39)
(8)
Total current assets
104,143
110,620
Non-current assets
Property, plant and equipment
Buildings and structures
183,038
187,110
Accumulated depreciation
(131,306)
(133,662)
Buildings and structures, net
51,731
53,447
Machinery and equipment
508,169
518,080
Accumulated depreciation
(442,082)
(452,247)
Machinery and equipment, net
66,087
65,832
Land
39,067
39,121
Construction in progress
16,280
14,341
Other
40,472
41,028
Accumulated depreciation
(21,849)
(22,415)
Other, net
18,623
18,612
Total property, plant and equipment
191,789
191,356
Intangible assets
Goodwill
31
7
Other
3,435
3,168
Total intangible assets
3,467
3,176
Investments and other assets
Investment securities
39,372
42,296
Long-term loans receivable
4,305
4,056
Deferred tax assets
1,014
997
Retirement benefit asset
4,171
4,342
Other
4,831
5,712
Allowance for doubtful accounts
(66)
(140)
Total investments and other assets
53,629
57,265
Total non-current assets
248,886
251,798
Total assets
353,029
362,418
Current assets
Cash and deposits 16,554 19,416
(Millions of yen) As of March 31, 2025 As of December 31, 2025
Liabilities
Current Liabilities
Notes and accounts payable - trade 28,266 27,532
Electronically recorded liabilities - operating 2,356 4,100
Short-term borrowings 18,822 19,020
Commercial papers 5,000 6,000
Current portion of long-term borrowings 8,648 9,430
Current portion of bonds payable - 5,000
Income taxes payable 1,685 1,720
Provision for bonuses 2,688 1,299
Other 16,275 14,849
Total current liabilities 83,742 88,952
Non-current liabilities
Bonds payable 25,000 25,000
Long-term borrowings 25,863 28,203
Deferred tax liabilities 9,558 11,917
Provision for retirement benefits for directors (and other officers)
125
130
Retirement benefit liability 1,013 1,008
Provision for PCB waste disposal costs 1 0
Asset retirement obligations 263 268
Provision for share awards 127 110
Total non-current liabilities 75,626 80,281
Other 13,672 13,642
Net assets
Total liabilities 159,369 169,234
Share capital 41,654 41,654
Shareholders' equity
Retained earnings 119,737 117,577
Capital surplus 10,466 10,466
Total shareholders' equity 170,865 168,257
Treasury shares (992) (1,441)
Valuation difference on available-for-sale securities 18,394 20,688
Accumulated other comprehensive income
Remeasurements of defined benefit plans 1,385 1,308
Foreign currency translation adjustment 451 335
Non-controlling interests 2,562 2,594
Total other accumulated comprehensive income 20,231 22,333
Total net assets 193,660 193,184
Total liabilities and net assets 353,029 362,418
Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income
Quarterly Consolidated Statement of Income
Nine months ended December 31, 2024 and 2025
Nine months ended December 31, 2024
(Millions of yen)
Nine months ended December 31, 2025
Net sales 166,167 164,346
Cost of sales 129,090 123,854
Gross profit 37,076 40,492
Selling, general and administrative expenses 30,461 31,957
Operating profit 6,614 8,534
Interest income 101 89
Non-operating income
Foreign exchange gains - 227
Dividend income 1,188 967
Rental income 139 111
Share of profit of entities accounted for using the equity method
- 171
Total non-operating income 1,826 2,307
Other 396 739
Interest expenses 740 913
Non-operating expenses
Share of loss of entities accounted for using the equity
method
96
-
Foreign exchange losses 205 -
Total non-operating expenses 1,592 1,502
Other 550 589
Extraordinary income
Ordinary profit 6,848 9,340
Gain on sale of investment securities 3,059 3,611
Gain on sale of non-current assets 69 440
Extraordinary losses
Total extraordinary income 3,128 4,052
Loss on sale of non-current assets 2 1
Loss on retirement of non-current assets 344 541
Total extraordinary losses 362 3,449
Impairment losses 14 2,905
Income taxes - current 1,784 2,218
Profit before income taxes 9,615 9,943
Total income taxes 2,771 3,578
Income taxes - deferred 987 1,359
Profit attributable to non-controlling interests 167 114
Profit 6,843 6,365
Profit attributable to owners of the parent 6,675 6,250
Quarterly Consolidated Statement of Comprehensive Income
Nine months ended December 31, 2024 and 2025
(Millions of yen)
Nine months ended
Nine months ended
December 31, 2024
December 31, 2025
Profit
6,843
6,365
Other comprehensive income
Valuation difference on available-for-sale securities
(2,923)
2,290
Foreign currency translation adjustment
38
(109)
Remeasurements of defined benefit plans
(98)
(76)
Share of other comprehensive income of entities accounted for using the equity method
18
(2)
Total other comprehensive income
(2,964)
2,102
Comprehensive income
3,878
8,467
Comprehensive income attributable to:
Owners of the parent
3,710
8,352
Non-controlling interests
167
115
Notes to Quarterly Consolidated Financial Statements
(Notes to Going Concern Assumptions) Not applicable.
(Notes in the Event of Significant Changes in Shareholders' Equity)
Treasury shares increased by 5,013 million yen (decrease in shareholders' equity) during the period under review, mainly due to the acquisition of treasury shares in accordance with the resolution of the Board of Directors meeting held on May 13, 2025.
Retained earnings decreased by 4,521 million yen and treasury shares decreased by 4,521 million yen (increase in shareholders' equity) during the period under review, due to the cancellation of treasury shares in accordance with the resolution of the Board of Directors meeting held on December 19, 2025.
Retained earnings amounted to 117,577 million yen and treasury shares amounted to 1,441 million yen at the end of the period under review.
(Segment Information, etc.)
Nine months ended December 31, 2024 (April 1, 2024 to December 31, 2024)
Information on Net Sales and Profit or Loss by Reportable Segment (Millions of yen)
Reportable segments
Note 1
Note 2
Cement
Mineral Resources
Cement-Related Products
Optoelectronics
Advanced Materials
Other
Total
Adjustment
Amount recorded in quarterly consolidated statement of
income
Net sales
(1) Net sales to external customers
118,629
13,261
18,009
1,840
11,606
2,819
166,167
-
166,167
(2) Intersegment sales and transfer
2,836
2,204
1,976
-
-
3,328
10,346
(10,346)
-
Total
121,465
15,465
19,986
1,840
11,606
6,148
176,513
(10,346)
166,167
Segment profit (loss)
451
2,504
1,160
(306)
1,650
1,115
6,575
38
6,614
(Notes)1. "Adjustment" of segment profit (loss) of 38 million yen represents the elimination of intersegment transactions.
2. Segment profit (loss) is adjusted with operating profit of the quarterly consolidated statement of income.
Nine months ended December 31, 2025 (April 1, 2025 to December 31, 2025)
Information on Net Sales and Profit or Loss by Reportable Segment (Millions of yen)
Reportable segments
Note 1
Note 2
Cement
Mineral Resources
Cement-Related Products
Optoelectronics
Advanced Materials
Other
Total
Adjustment
Amount recorded in quarterly consolidated statement of
income
Net sales
(1) Net sales to external customers
117,756
13,140
16,418
1,936
12,560
2,534
164,346
-
164,346
(2) Intersegment net sales and transfer
2,687
2,577
1,573
-
-
3,829
10,667
(10,667)
-
Total
120,444
15,718
17,992
1,936
12,560
6,363
175,014
(10,667)
164,346
Segment profit (loss)
2,735
2,221
836
(73)
1,760
1,030
8,510
24
8,534
(Notes)1. "Adjustment" of segment profit (loss) of 24 million yen represents the elimination of intersegment transactions.
Segment profit (loss) is adjusted with operating profit of the quarterly consolidated statement of income.
2. Information on Impairment Losses on Non-current Assets or Goodwill, etc. by Reportable Segment (Significant impairment losses on non-current assets)
In the nine months ended December 31, 2025, impairment losses totaling 2,905 million yen were recorded in the Cement business.
(Notes on Quarterly Consolidated Statement of Cash Flows)
Quarterly consolidated statements of cash flows have not been prepared for the period under review. Depreciation (including amortization expenses of intangible assets excluding goodwill) and amortization of goodwill for the nine month-
periods are as follows.
Nine months ended December 31, 2024
Nine months ended December 31, 2025
Depreciation | 16,530 million yen | 17,278 million yen |
Amortization of goodwill | 23 million yen | 23 million yen |
Supplementary Information
(1) Consolidated Profit or Loss by Segment (YoY Comparison)
(Millions of yen)
Nine months ended December 31, 2024 | Nine months ended December 31, 2025 | YoY change | |||
Amount | % | ||||
Cement | 118,629 | 117,756 | (873) | (0.7) | |
Mineral Resources | 13,261 | 13,140 | (120) | (0.9) | |
Cement-Related Products | 18,009 | 16,418 | (1,591) | (8.8) | |
Optoelectronics | 1,840 | 1,936 | 95 | 5.2 | |
Advanced Materials | 11,606 | 12,560 | 954 | 8.2 | |
Other | 2,819 | 2,534 | (285) | (10.1) | |
Net sales for external customers | 166,167 | 164,346 | (1,820) | (1.1) | |
Cement | 451 | 2,735 | 2,284 | 506.3 | |
Mineral Resources | 2,504 | 2,221 | (283) | (11.3) | |
Cement-Related Products | 1,160 | 836 | (324) | (27.9) | |
Optoelectronics | (306) | (73) | 232 | - | |
Advanced Materials | 1,650 | 1,760 | 109 | 6.7 | |
Other | 1,115 | 1,030 | (84) | (7.6) | |
Adjustment amount | 38 | 24 | (14) | (38.0) | |
Operating profit | 6,614 | 8,534 | 1,920 | 29.0 | |
Non-operating income | 1,826 | 2,307 | 481 | 26.3 | |
Non-operating expenses | 1,592 | 1,502 | (90) | (5.7) | |
Non-operating income (expenses), net | 233 | 805 | 571 | 244.4 | |
Ordinary profit | 6,848 | 9,340 | 2,491 | 36.4 | |
Extraordinary income | 3,128 | 4,052 | 923 | 29.5 | |
Extraordinary losses | 362 | 3,449 | 3,086 | 851.4 | |
Extraordinary income (losses), net | 2,766 | 603 | (2,163) | (78.2) | |
Profit attributable to owners of the parent | 6,675 | 6,250 | (424) | (6.4) | |