Toho Titanium Company, LimitedTSE: 5727

Supplemental Materials for Financial Results for the Fiscal Year Ended March 31, 2026 (2026.05.08)

· Issued by Toho Titanium Company, Limited
‌Supplemental Materials for Financial Results for the Fiscal Year Ended March 31, 2026

May 8, 2026

(C)2026 Toho Titanium Co., Ltd.





‌(In billions of JPY)

Full-year

FY2025

Full-year

FY2024*

Change

Net Sales

83.4

89.0

-5.6

Operating Income

4.4

6.7

-2.3

Ordinary Income

4.7

6.3

-1.5

Net Income

2.9

4.3

-1.4

Average exchange

rate（yen/$）

150.7

(159.9¥/$at the end

of the period)

152.6

(149.5¥/$at the end

of the period)

*Starting from this period, we changed the evaluation method of inventory from the FIFO method to the moving average method, and we also adjusted the figures for the previous period to reflect this change retroactively.

FY2025 Consolidated Financial Results





‌Net Sales

1Q

2Q

3Q

4Q

FY2025

FY2024

Change

YoY

Change

QoQ

Titanium metal

15.3

11.9

13.0

14.3

54.4

65.6

-11.1

+1.2

Catalysts

3.1

2.8

2.6

3.4

11.9

10.7

+1.2

+0.8

Chemicals

3.8

4.2

4.6

4.5

17.0

12.7

+4.3

-0.2

Total

22.2

18.9

20.3

22.1

83.4

89.0

-5.6

+1.8

Operating Income

1Q

2Q

3Q

4Q

FY2025

FY2024

Change

YoY

Change

QoQ

Titanium metal

0.8

0.8

1.4

1.3

4.4

7.2

-2.8

-0.1

Catalysts

0.7

0.6

0.6

0.9

2.8

2.4

+0.4

+0.3

Chemicals

(0.1)

(0.4)

0.2

0.4

0.2

(1.1)

+1.2

+0.2

Common costs and expenses not allocated to the segments

(0.6)

(0.6)

(0.6)

(1.2)

(3.0)

(1.9)

-1.1

-0.6

Total

0.8

0.5

1.6

1.5

4.4

6.7

-2.3

-0.1

FY2025 Net Sales and Operating Income by Segment

(In billions of JPY)





‌(In billions of JPY)

Hedge

etc.)



7.2→4.4 2.4→2.8 (1.1)→0.2

Titanium metal

Catalysts

Chemicals

10

9

8



7

6

5

4

3

2

1

0

FY2024

























FY2025

Fixed costs

(Depreciation, etc.) (○)0.8

Sales volume

(×)3.7

Price

(×)1.3

Changes in inventries, etc.

Sales volume

(○)3.1

against Nickel ore

(×)0.3

ore and electric power

(○)0.7

(○)1.2

Price

(×)1.3

Sales volume

(○)1.6

Other costs(ore, etc.)

(×)0.4

Other costs(ore,

(○)0.7

Common costs

(×)1.1

Changes in inventries, etc. (×)0.9

Exchange rate

(×)0.5

Exchange rate

(×)0.1

Changes in inventries, etc.

(×)0.7



Operating Income 6.7 Operating Income 4.4

Difference in Operating Income between FY2025 and FY2024





‌ 1.4 →1.3 0.6→0.9 0.2→0.4

(In billions of JPY)

Titanium metal

Catalysts

Chemicals

Sales volume

(○)0.5

Exchange rate

(○)0.1

Price

(×)0.3

Changes in inventries, etc.

Exchange rate

(×)0.4

Sales volume

(×)0.3

Changes in inventries, etc.

(○)0.3

Price

(○)0.2

ore and electric power

(×)0.0

Sales volume (○)0.1

(○)0.2

Other costs

(○)0.1

Common costs

(×)0.6



2.5

2

1.5











1

0.5

0

FY2025 3Q Operating Income 1.6 FY2025 4Q Operating Income 1.5

Difference in Operating Income between FY2025 4Q and FY2025 3Q





‌End of FY2024

End of FY2025

Change

Major components

Assets

Current assets

69.8

67.3

(2.5)

Accounts receivable - trade 1.0

Inventories (3.0)

Other (0.5)

Non-current assets

55.0

62.4

7.4

CapEx 15.0

Depreciation and amortization (6.1)

Other (1.5)

Total assets

124.8

129.7

4.9

Liabilities

Borrowings

53.0

56.5

3.5

Other

13.5

13.1

(0.4)

Income taxes payable (0.4) Other 0

Total net assets

58.3

60.1

1.8

Net income 2.9

Dividends, etc. (1.1)

Total liabilities

and net assets

124.8

129.7

4.9

Equity ratio(%)

46.8

46.4

(0.4)

FY2025

Profit before income taxes (interim)

4.0

Depreciation

6.1

Trade receivables

(1.0)

Inventories

3.0

Income taxes paid, etc.

(1.0)

Cash flows from operating activities

11.1

Capital expenditures

(15.0)

Other

0.9

Cash flows from investing activities

(14.1)

Increase (decrease) in borrowings

3.5

Dividends paid

(1.4)

Other

(0.0)

Cash flows from financing activities

2.1

Effect of exchange rate change

0.0

Net increase (decrease) in cash and cash equivalents

(0.9)

Balance Sheet and Cash Flow for FY2025

〈BS〉

〈CF〉

(In billions of JPY)





‌The Share Exchange Agreement between the Company and JX Advanced Metals Corporation was approved at the extraordinary general meeting of shareholders held on April 24, 2026.

As the Company's shares are scheduled to be delisted on May 28, 2026 prior to the effective date of the Share Exchange (June 1, 2026), the Company has not disclosed its financial results forecasts for the fiscal year ending March 31, 2027.

End of Document

Consolidated Financial Results Forecasts for the Fiscal year ended March 31, 2027



(C)2026 Toho Titanium Co., Ltd.

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