Note : This document has been translated from a part of 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.
November 7, 2025
Consolidated Financial Results for the Six Months Ended September 30, 2025 (Under Japanese GAAP)
Company name: | TOHO TITANIUM COMPANY, LIMITED | |||||
Listing: | Tokyo Stock Exchange | |||||
Securities code: | 5727 | |||||
URL: | https://www.toho-titanium.co.jp/ | |||||
Representative: | Yasuji Yamao | Representative Director and President | ||||
Inquiries: | Hiromu Tomeba | General Manager, Planning, Corporate Management Division | ||||
Telephone: | +81-45-394-5521 | |||||
Scheduled date to file semi-annual securities report: | November 12, 2025 | |||||
Scheduled date to commence dividend payments: | December 11, 2025 | |||||
Preparation of supplementary material on financial results: | None | |||||
Holding of financial results briefing: | Yes | |||||
(Yen amounts are rounded down to millions, unless otherwise noted.)
-
Consolidated financial results for the six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025)
-
Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Six months ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
September 30, 2025
41,044
(6.2)
1,324
(49.5)
1,181
(30.7)
699
(38.2)
September 30, 2024
43,779
19.5
2,624
(6.7)
1,704
(53.3)
1,131
(59.0)
Note: Comprehensive income
For the six months ended September 30, 2025:
¥
639 million [
(40.4) %]
For the six months ended September 30, 2024:
¥
1,073 million [
(60.8) %]
Basic earnings per share
Diluted earnings per share
Six months ended
Yen
Yen
September 30, 2025
9.83
-
September 30, 2024
15.90
-
- Consolidated financial position
Total assets
Net assets
Equity-to-asset ratio
As of
Millions of yen
Millions of yen
%
September 30, 2025
123,816
58,293
47.1
March 31, 2025
124,796
58,347
46.8
Reference: Equity
As of September 30, 2025:
¥
58,293 million
As of March 31, 2025:
¥
58,347 million
-
Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)
-
Cash dividends
Annual dividends per share
First quarter-end
Second quarter-end
Third quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Fiscal year ended
-
8.00
-
10.00
18.00
March 31, 2025
Fiscal year ending
-
9.00
March 31, 2026
Fiscal year ending March 31, 2026
(Forecast)
-
9.00
18.00
Note: Revisions to the forecast of cash dividends most recently announced: None
Note: Breakdown of the second quarter dividend for the fiscal year ending March 31, 2026 : Commemorative dividend - yen
Special dividend - yen
- Consolidated financial result forecasts for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)
(Percentages indicate year-on-year changes.)
Net sales | Operating profit | Ordinary profit | Profit attributable to owners of parent | Basic earnings per share | |||||
Full year | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen |
81,300 | (8.6) | 4,000 | (39.8) | 3,600 | (42.7) | 1,900 | (55.4) | 26.69 | |
Note: Revisions to the financial result forecast most recently announced: Yes
* Notes(1) Significant changes in the scope of consolidation during the period: | None | ||
Newly included: | - | companies( | ) |
Excluded: | - | companies( | ) |
(2) Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: | None |
(3) Changes in accounting policies, changes in accounting estimates, and restatement | |||||
(i) | Changes in accounting policies due to revisions to accounting standards and other regulations: | None | |||
(ii) | Changes in accounting policies due to other reasons: | Yes | |||
(iii) | Changes in accounting estimates: | None | |||
(iv) | Restatement: | None | |||
(4) Number of issued shares (common shares)
(i) Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2025 | 71,270,910 | shares |
As of March 31, 2025 | 71,270,910 | shares |
(ii) | Number of treasury shares at the end of the period | ||
As of September 30, 2025 | 84,813 | shares | |
As of March 31, 2025 | 98,836 | shares |
(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2025 | 71,178,311 | shares |
Six months ended September 30, 2024 | 71,172,074 | shares |
Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.
Proper use of earnings forecasts, and other special matters
Semi-annual Consolidated Financial Statements and Primary Notes Semi-annual Consolidated Balance Sheet
(Millions of yen) | ||
As of March 31, 2025 | As of September 30, 2025 | |
Assets | ||
Current assets | ||
Cash and deposits | 4,599 | 3,366 |
Notes and accounts receivable - trade | 14,581 | 11,629 |
Electronically recorded monetary claims -operating | 232 | 157 |
Merchandise and finished goods | 24,865 | 22,738 |
Work in process | 9,332 | 9,003 |
Raw materials and supplies | 12,637 | 11,973 |
Accounts receivable - other | 1,161 | 921 |
Other | 2,349 | 3,572 |
Total current assets | 69,759 | 63,362 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 17,869 | 20,305 |
Machinery, equipment and vehicles, net | 17,182 | 17,078 |
Tools, furniture and fixtures, net | 777 | 918 |
Land | 2,449 | 2,449 |
Construction in progress | 13,788 | 17,712 |
Total property, plant and equipment | 52,066 | 58,463 |
Intangible assets | ||
Software | 662 | 524 |
Other | 20 | 14 |
Total intangible assets | 683 | 538 |
Investments and other assets | ||
Shares of subsidiaries and associates | 513 | 484 |
Deferred tax assets | 293 | - |
Retirement benefit asset | 822 | 761 |
Other | 659 | 207 |
Allowance for doubtful accounts | (1) | (1) |
Total investments and other assets | 2,286 | 1,452 |
Total non-current assets | 55,036 | 60,454 |
Total assets | 124,796 | 123,816 |
(Millions of yen) | ||
As of March 31, 2025 | As of September 30, 2025 | |
Liabilities | ||
Current liabilities | ||
Notes and accounts payable - trade | 3,763 | 3,005 |
Short-term borrowings | 32,446 | 31,416 |
Lease liabilities | 10 | 8 |
Income taxes payable | 1,418 | 149 |
Provision for bonuses | 1,561 | 1,037 |
Provision for bonuses for directors (and other officers) | 176 | 42 |
Other | 4,365 | 5,961 |
Total current liabilities | 43,740 | 41,620 |
Non-current liabilities | ||
Long-term borrowings | 20,584 | 21,701 |
Lease liabilities | 2 | 2 |
Asset retirement obligations | 2,122 | 2,139 |
Deferred tax liabilities | - | 59 |
Total non-current liabilities | 22,708 | 23,901 |
Total liabilities | 66,449 | 65,522 |
Net assets | ||
Shareholders' equity | ||
Share capital | 11,963 | 11,963 |
Capital surplus | 13,023 | 13,030 |
Retained earnings | 33,535 | 33,522 |
Treasury shares | (78) | (67) |
Total shareholders' equity | 58,443 | 58,448 |
Accumulated other comprehensive income | ||
Foreign currency translation adjustment | (363) | (377) |
Remeasurements of defined benefit plans | 268 | 222 |
Total accumulated other comprehensive income | (95) | (154) |
Total net assets | 58,347 | 58,293 |
Total liabilities and net assets | 124,796 | 123,816 |
Semi-annual Consolidated Statements of Income and Comprehensive Income
Semi-annual Consolidated Statement of Income
(Millions of yen) | ||
For the six months ended September 30, 2024 | For the six months ended September 30, 2025 | |
Net sales | 43,779 | 41,044 |
Cost of sales | 36,268 | 34,355 |
Gross profit | 7,511 | 6,689 |
Selling, general and administrative expenses | 4,887 | 5,364 |
Operating profit | 2,624 | 1,324 |
Non-operating income | ||
Foreign exchange gains | - | 32 |
Gain on sale of goods | 17 | 17 |
Insurance claim income | 24 | 29 |
Share of profit of entities accounted for using equity method | 9 | 19 |
Other | 18 | 31 |
Total non-operating income | 70 | 131 |
Non-operating expenses | ||
Interest expenses | 148 | 225 |
Foreign exchange losses | 772 | - |
Loss on disaster | 56 | - |
Other | 13 | 48 |
Total non-operating expenses | 990 | 273 |
Ordinary profit | 1,704 | 1,181 |
Extraordinary income | ||
Gain on sale of non-current assets | 0 | - |
Total extraordinary income | 0 | - |
Extraordinary losses | ||
Loss on retirement of non-current assets | 94 | 101 |
Total extraordinary losses | 94 | 101 |
Profit before income taxes | 1,610 | 1,080 |
Income taxes - current | 92 | 31 |
Income taxes - deferred | 386 | 349 |
Total income taxes | 478 | 380 |
Profit | 1,131 | 699 |
Profit attributable to owners of parent | 1,131 | 699 |
Semi-annual Consolidated Statement of Comprehensive Income
(Millions of yen) | ||
For the six months ended September 30, 2024 | For the six months ended September 30, 2025 | |
Profit | 1,131 | 699 |
Other comprehensive income | ||
Foreign currency translation adjustment | (19) | (13) |
Remeasurements of defined benefit plans, net of tax | (39) | (45) |
Total other comprehensive income | (58) | (59) |
Comprehensive income | 1,073 | 639 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 1,073 | 639 |
Semi-annual Consolidated Statement of Cash Flows
(Millions of yen) | ||
For the six months ended September 30, 2024 | For the six months ended September 30, 2025 | |
Cash flows from operating activities | ||
Profit before income taxes | 1,610 | 1,080 |
Depreciation | 3,848 | 3,034 |
Increase (decrease) in provision for bonuses | (669) | (523) |
Decrease (increase) in retirement benefit asset | (11) | 60 |
Interest and dividend income | (0) | (0) |
Interest expenses | 148 | 225 |
Share of loss (profit) of entities accounted for using equity method | (9) | (19) |
Loss (gain) on sale of property, plant and equipment | (0) | - |
Loss on retirement of non-current assets | 94 | 101 |
Decrease (increase) in trade receivables | 5,227 | 3,027 |
Decrease (increase) in inventories | 4,565 | 3,121 |
Increase (decrease) in trade payables | (603) | (757) |
Decrease (increase) in accounts receivable - other | (202) | 240 |
Other, net | (317) | (1,740) |
Subtotal | 13,680 | 7,850 |
Interest and dividends received | 5 | 54 |
Interest paid | (145) | (215) |
Income taxes paid | (937) | (1,259) |
Net cash provided by (used in) operating activities | 12,603 | 6,429 |
Cash flows from investing activities | ||
Purchase of property, plant and equipment | (5,725) | (7,491) |
Proceeds from sale of property, plant and equipment | 0 | - |
Collection of loans receivable from subsidiaries and associates | - | 19 |
Other, net | (0) | 0 |
Net cash provided by (used in) investing activities | (5,725) | (7,470) |
Cash flows from financing activities | ||
Net increase (decrease) in short-term borrowings | (3,300) | (1,100) |
Proceeds from long-term borrowings | 2,000 | 4,000 |
Repayments of long-term borrowings | (2,021) | (2,813) |
Purchase of treasury shares | - | (0) |
Repayments of lease liabilities | (98) | (1) |
Dividends paid | (1,281) | (711) |
Net cash provided by (used in) financing activities | (4,700) | (626) |
Effect of exchange rate change on cash and cash equivalents | 7 | 435 |
Net increase (decrease) in cash and cash equivalents | 2,184 | (1,232) |
Cash and cash equivalents at beginning of period | 1,880 | 4,599 |
Cash and cash equivalents at end of period | 4,064 | 3,366 |