Toagosei sees mixed 3Q FY2025 results: sales down, operating income up

Toagosei announced its financial results for 3Q FY2025, reporting net sales of JPY 39,519 million, a decrease of 5.4% from JPY 41,792 million in 3Q FY2024. Despite the decline in sales, operating income increased by 4.3% to JPY 3,589 million from JPY 3,439 million in the prior year, improving the operating income ratio to 9.1% (up 0.9pp). Ordinary profit also saw a rise of 7.9% to JPY 3,652 million. However, net income attributable to owners of parent decreased significantly by 34.2% to JPY 2,281 million from JPY 3,465 million.

For the 1-3Q FY2025 period, net sales were JPY 119,863 million, down 2.8% year-on-year, and operating income was JPY 10,607 million, a 1.4% decrease. Changes in operating income were influenced by a JPY 0.9 bn negative impact from volume and a JPY 0.7 bn negative impact from fixed costs, offset by a JPY 1.5 bn positive impact from unit price.

Segment-wise for 3Q FY2025, Commodity Chemicals net sales decreased by JPY 2,559 million, primarily due to volume and unit price declines, while Plastics saw an increase of JPY 152 million, driven by unit price. Operating income for Plastics surged by JPY 411 million, whereas Polymer & Oligomer operating income decreased by JPY 123 million. Newly established Toagosei Chemical India Private Limited was included in consolidation, while Elmer's & Toagosei was dissolved, impacting equity-method affiliates.