Slides
Page 1
証券コード：4461（東証プライム） 第一工業製薬株式会社 All Rights Reserved by DKS Co. Ltd. Presentation of Consolidated Financial Results for the Six Months Ended September 30, 2025 (Second Quarter of FY2025 / Fiscal Year Ending March 31, 2026) October 30, 2025
Page 2
All Rights Reserved by DKS Co. Ltd. 2 T oday’sAgenda 1. Consolidated Financial Results for the Six Months Ended September 30, 2025 of FY2025 (Fiscal Year Ending March 31, 2026) P .3 2. Consolidated Financial Results Forecasts for FY2025 (Fiscal Year Ending March 31, 2026) P .13
Page 3
All Rights Reserved by DKS Co. Ltd. 1. Consolidated Financial Results for the Six Months Ended September 30, 2025 of FY2025 (Fiscal Year Ending March 31, 2026) 3
Page 4
連結 All Rights Reserved by DKS Co. Ltd. 4 Increase in sales and profits: Achieved record high profits on the back of an upswing in sales of electronics and battery materials （単位：百万円） 前年同期比増減 金額 増減率 売上高 35,431 37,611 2,180 6.2% 営業利益 2,474 3,868 1,394 56.3% 経常利益 2,579 3,603 1,024 39.7% 親会社株主に帰属する 四半期純利益 1,256 2,182 926 73.7% 25/3月期 中間期 26/3月期 中間期 Consolidated Overview of Financial Results (YoY) （Millions of yen) FY2024 Interim Period (Apr.-Sept.) FY2025 Interim Period (Apr.-Sept.) YoY Change Amount % Net sales Operating income Ordinary income Profit attributable to owners of parent Increasein profits Increasein sales Net sales: Growth in sales of low-dielectric resins and new battery materials Operating income: Achieved a record high on the back of sales growth
Page 5
連結 All Rights Reserved by DKS Co. Ltd. 8,415 12,626 13,976 7,010 8,284 9,3316,107 6,741 6,896 7,666 7,779 7,406 29,200 35,431 37,611 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 (26%) (21%) (24%) (29%) (19%) (23%) (36%) (22%) (20%) (18%) (25%) (37%) 5 6.2% 21.3% 56.3% Net sales Operating income 62 2,455 2,794 △ 294 △ 201 654 △ 271 199 286 54 21 132 △ 449 2,474 3,868 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 (99%) (8%) (1%) (△8%) (17%) (7%) (3%) (72%) Consolidated Trends in Net Sales and Operating Income by Segment ( )： Percentage (Millions of yen) 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period Electronics & IT Environment & Energy Life & Wellness Core Materials -449 (-8％)-201-294 -271 62
Page 6
All Rights Reserved by DKS Co. Ltd. 2,474 3,868 1,455 1,334 △860 △535 25/3月期 中間期 実績 26/3月期 中間期 実績 数 量 効 果 単 価 効 果 工 費 差 6 営 業 経 費 差 * Increase in sales volumes of highly profitable products, primarily battery materials * Increase in sales volume of low- dielectric resins and battery materials （百万円） Analysis of the Increase or Decrease in Operating Income for the Six Months Ended September 30, 2025 of FY2025 Interim Results 2025/3 Interim Results 2026/3 （Millions of yen) Sales volume effects Price effects Construction cost differences Operating expense differences * Increase in operating expenses on the back of higher plant capacity utilization rates * Increase in operating expenses owing to such factors as sales activities and R&D costs -860 -535
Page 7
連結 All Rights Reserved by DKS Co. Ltd. △ 140 1,075 1,447 203 1,380 1,346 62 2,455 2,794 △ 1,000 0 1,000 2,000 3,000 4,000 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 1Q 2Q 3,495 6,239 6,937 4,919 6,386 7,0398,415 12,626 13,976 0 5,000 10,000 15,000 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 1Q 2Q 7 This business provides high-performance materials that enhance the value of IT and electronic devices Net sales Operating income （百万円） 10.7% 50.0% Net sales: Substantial growth in general ➢ Low-dielectric resins: Substantial growth ➢ Flame retardants: Sluggish in Japan Significant drop overseas ➢ Specialty surfactants: Significant drop Operating income: Increase ➢ Sales growth 13.8％ 営業利益 売上高 セグメント全体 （百万円） Flame retardants Consolidated Segment Results: Electronics & IT Operating income Net sales Overall segment performance （Millions of yen) （Millions of yen) 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period Low-dielectric resins Specialty surfactants ■Q1 ■Q2 -140 ■Q1 ■Q2 -1,000
Page 8
連結 All Rights Reserved by DKS Co. Ltd. △ 199 △ 124 △ 73 △ 95 △ 77 727 △ 294 △ 201 654 △ 400 0 400 800 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 1Q 2Q 3,532 3,976 4,627 3,478 4,307 4,704 7,010 8,284 9,331 0 2,500 5,000 7,500 10,000 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 1Q 2Q 8 This business provides products that contribute to reducing environmental impact and supporting the energy industry Net sales Operating income 18.2% Net sales: Substantial growth in general ➢ Battery materials: Substantial growth ➢ Sealants for electronic circuit boards: Substantial growth ➢ Solar cell applications: Significant drop overseas Sealants for eletronic circuit boards Operating income: Increase ➢ Increase in sales of high value-added products （百万円） （百万円） 12.6% （Millions of yen) （Millions of yen) 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period -199 -124 -400 -73 Battery materials Solar cell applications Consolidated Segment Results: Environment & Energy -73 -77 ■Q1 ■Q2 ■Q1 ■Q2 -95 -294 -201 営業利益 売上高 セグメント全体 Net sales Operating income Overall segment performance
Page 9
連結 All Rights Reserved by DKS Co. Ltd. 3,056 3,387 3,512 3,051 3,353 3,383 6,107 6,741 6,896 0 2,500 5,000 7,500 10,000 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 1Q 2Q △ 205 96 226 △ 65 102 59 △ 271 199 286 △ 300 0 300 600 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 1Q 2Q 9 This business provides technologies and functional materials that support the development of a healthy and comfortable society Net sales Operating income 10.4% Net sales: Generally firm ➢ Soap and detergent applications: Firm ➢ Food applications: Firm in Japan Sluggish overseas ➢ Personal care (cosmetics) applications: Firm Operating income: Increase ➢ Increase due to improved profitability in domestic operations 2.3% （百万円） （百万円） 43.7% Segment Results: Life & Wellness （Millions of yen) （Millions of yen) 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period -300 Soap and detergent applications Food applications Personal care (cosmetics) applications Consolidated 営業利益 売上高 セグメント全体 Operating income Net sales Overall segment performance 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period -205 -65 -271 ■Q1 ■Q2 ■Q1 ■Q2
Page 10
連結 All Rights Reserved by DKS Co. Ltd. △ 26 11 122 81 9 1054 21 132 △ 100 0 100 200 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 1Q 2Q 3,800 3,927 3,969 3,866 3,852 3,437 7,666 7,779 7,406 0 2,500 5,000 7,500 10,000 24/3月期 中間期 25/3月期 中間期 26/3月期 中間期 1Q 2Q 10 This business provides materials that improve functionality and convenience across a wide range of industries Net sales Operating income 1.5% -4.8% Net sales: Generally sluggish ➢ Civil engineering and construction applications: Sluggish ➢ Flame retardants for plastic applications: Sluggish Operating income: Increase ➢ Increase in sales of high value-added products 営業利益 売上高 セグメント全体 （百万円） （百万円） -61.1% Consolidated Segment Results: Core Materials Operating income Net sales Overall segment performance （百万円） （Millions of yen)（Millions of yen) 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period 2024/3 Interim Period 2025/3 Interim Period 2026/3 Interim Period Engineering chemicals: Rock hardening Flame retardants for plastic applications -100 -26 ■Q1 ■Q2 ■Q1 ■Q2
Page 11
連結 All Rights Reserved by DKS Co. Ltd. 2025年 3月末 2025年 9月末 増減額 2025年 3月末 2025年 9月末 増減額 流動資産 57,247 60,652 3,405 流動負債 26,532 28,049 1,517 現預金 16,751 19,768 3,016 仕入債務 13,985 13,568 △ 416 売上債権 22,159 21,344 △ 814 有利子負債 6,824 8,576 1,751 棚卸資産 15,900 16,790 890 その他 5,723 5,904 181 その他 2,435 2,748 312 固定負債 26,075 22,374 △ 3,701 固定資産 39,865 41,745 1,879 有利子負債 24,526 20,482 △ 4,043 有形固定資産 31,398 32,171 772 その他 1,549 1,891 342 無形固定資産 250 253 3 負債合計 52,608 50,424 △ 2,184 投資・その他の資産 8,215 9,319 1,104 純資産 44,504 51,974 7,469 資産合計 97,113 102,398 5,285 負債・純資産合計 97,113 102,398 5,285 11 Consolidated Comparative Overview of Consolidated Balance Sheets Current assets Cash and deposits Notes and accounts receivable - trade Inventories Other Non-current assets Property, plant and equipment Intangible assets Investments and other assets Total Increase/ Decrease Sept. 30, 2025 Increase/ Decrease （Millions of yen) Current liabilities Notes and accounts payable - trade Interest-bearing debt Other Non-current liabilities Interest-bearing debt Other Total liabilities Net assets Total liabilities and net assets -3,701 -416 -4,043 -2,184 -814 Mar. 31, 2025 Sept. 30, 2025 Mar. 31, 2025 Sept. 30, 2025
Page 12
連結 All Rights Reserved by DKS Co. Ltd. 12 （単位：百万円） 25/3月期 中間期 26/3月期 中間期 増減額 営業活動によるキャッシュ・フロー 3,501 2,928 △ 572 投資活動によるキャッシュ・フロー △ 997 △ 1,267 △ 270 財務活動によるキャッシュ・フロー △ 4,372 1,475 5,848 現金及び現金同等物に係る換算差額 94 △ 106 △ 201 現金及び現金同等物の増減額(△は減少額) △ 1,774 3,030 4,804 現金及び現金同等物の期末残高 14,172 19,586 5,414 Consolidated Overview of Consolidated Statements of Cash Flows （Millions of yen) Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash and cash equivalents Effect of exchange rate change on cash and cash equivalents Cash and cash equivalents at end of period 2025/3 Interim Period Increase / Decrease 2026/3 Interim Period -1,774 -4,372 -572 -997 -1,267 -270 -106 -201
Page 13
All Rights Reserved by DKS Co. Ltd. 13 2. Consolidated Financial Results Forecasts for FY2025 (Fiscal Year Ending March 31, 2026)
Page 14
連結 All Rights Reserved by DKS Co. Ltd. 62,672 65,081 63,118 73,255 80,000 4,626 1,186 2,077 5,351 8,200 4,192 1,200 2,060 5,737 7,900 2,492 △ 407 1,174 2,585 4,500 △ 4,000 0 4,000 8,000 12,000 △ 30,000 0 30,000 60,000 90,000 売上高 営業利益 経常利益 親会社株主に帰属する当期純利益 【売上高】 【利益】 （単位：百万円） 14 22/3月期 23/3月期 24/3月期 25/3月期 26/3月期 (修正予想) Forecast: Profits at each level are expected to significantly exceed the first-year targets of SMART 2030, our Medium-Term Management Plan Consolidated Consolidated Financial Results and Forecasts （Millions of yen) [Net sales] [Profit] -407 2024/3 2025/3 2026/32022/3 2023/3 (Revised forecasts) Net sales Operating income Ordinary income Profit attributable to owners of parent
Page 15
連結 All Rights Reserved by DKS Co. Ltd. 15 Segments Applications Conditions FY2025 Electronics & IT Information and communication ・Continued strong demand for high-end servers Displays ・Firm demand due to panel inventory stockpiling ahead of the Trump administration’s tariff policies ・Conditions are expected to cool from the third quarter Environment & Energy Lithium-ion batteries (Lib） ・Continued firm growth is forecast for the small- and medium- sized LiB market Automobiles and motorcycles ・Motorcycles firm overseas, recovery for automobile remains limited Core Materials Infrastructure (public works) ・Infrastructure-related large-scale properties remain firm Home appliances and housing materials (flame retardants) ・ Demand remains sluggish owing to the economic slowdown in China ・ Market prices remain flat due to low-price strategies by local China manufacturers Specific Measures (1) Ensure agile production in response to new projects and uncertain demand (2) Accelerate sales and research activities to enable horizontal expansion in existing markets; develop next-generation products (3) Continuously address rising raw material and fixed costs (price pass-through measures) Consolidated Prevailing Environment (Market Conditions)
Page 16
連結 All Rights Reserved by DKS Co. Ltd. 2025年3月期（実績） 2026年3月期（予想） 前期比増減 上半期 上半期 （実績） 1Q 2Q 1Q （実績） 2Q （実績） 電子・情報 6,239 6,386 12,434 25,060 33 6,937 7,039 15,524 29,500 37 4,440 18 環境・エネルギー 3,976 4,307 10,494 18,850 26 4,627 4,704 12,269 21,600 27 2,750 15 ライフ・ウェルネス 3,387 3,353 6,970 13,778 19 3,512 3,383 7,104 14,000 18 222 2 コア・マテリアル 3,927 3,852 7,924 15,566 21 3,969 3,437 7,495 14,900 19 △ 666 △ 4 合 計 17,531 17,899 37,824 73,255 100 19,046 18,565 42,392 80,000 100 6,745 9 下半期 下半期 （予想） 通期 （予想） 構成比 (%) 金額 増減率 (%) セグメント 単位：百万円 通期 構成比 (%) 16 ※２０２５年３月期(実績)セグメント別の下半期の値は、参考値となっております。 Consolidated Segments (Millions of yen) FY2024 (Results) FY2025 (Forecasts) YoY Change Q1 Q2 1H 2H Full FY Compo- sition (%) [Reference] Net Sales Forecasts by Segment 1H (Results) 2H (Forecasts) Full FY (Forecasts)Q1 (Results) Compo- sition (%) Amount (%) Electronics & IT Environment & Energy Life & Wellness Core Materials Total * Results data by segment for the second half of FY2024 are for reference only. -666 -4 Q2 (Results)
Page 17
連結 All Rights Reserved by DKS Co. Ltd. 2025年3月期（実績） 2026年3月期（予想） 前期比増減 上半期 上半期 （実績） 1Q 2Q 1Q （実績） 2Q （実績） 電子・情報 1,075 1,380 2,390 4,844 91 1,447 1,346 2,406 5,200 63 356 7 環境・エネルギー △ 124 △ 77 90 △ 111 △ 2 △ 73 727 1,446 2,100 26 2,211 - ライフ・ウェルネス 96 102 91 291 5 226 59 214 500 6 209 72 コア・マテリアル 11 9 304 326 6 122 10 268 400 5 74 23 合 計 1,058 1,415 2,877 5,351 100 1,723 2,144 4,334 8,200 100 2,849 53 下半期 下半期 （予想） 通期 （予想） 構成比 (%) 金額 増減率 (%)通期 構成比 (%) セグメント 単位：百万円 17 Consolidated * Results data by segment for the second half of FY2024 are for reference only. Electronics & IT Environment & Energy Life & Wellness Core Materials Total Segments (Millions of yen) FY2024 (Results) FY2025 (Forecasts) YoY Change 1H Full FY Compo- sition (%) 1H (Results) (Results) (Results) 2H (Forecasts) Full FY (Forecasts) Compo- sition (%) Amount (%) -124 -77 -111 -2 -73 [Reference] Operating Income Forecasts by Segment Q1 Q2 2H Q1 (Results) Q2 (Results)
Page 18
連結 All Rights Reserved by DKS Co. Ltd. 2,153 2,087 2,335 2,473 2,555 2,724 3,459 3,580 3,508 3,216 3,223 3,341 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 2015年 3月期 2016年 3月期 2017年 3月期 2018年 3月期 2019年 3月期 2020年 3月期 2021年 3月期 2022年 3月期 2023年 3月期 2024年 3月期 2025年 3月期 2026年 3月期 見通し （百万円） 18 Consolidated （Millions of yen) Depreciation 2023/3 2024/3 2025/32021/3 2022/32018/3 2019/3 2020/32016/3 2017/32015/3 2026/3 Forecast
Page 19
連結 All Rights Reserved by DKS Co. Ltd. 19 3,948 8,485 3,786 2,467 5,802 6,138 4,617 1,925 3,172 2,724 2,147 4,500 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 2015年 3月期 2016年 3月期 2017年 3月期 2018年 3月期 2019年 3月期 2020年 3月期 2021年 3月期 2022年 3月期 2023年 3月期 2024年 3月期 2025年 3月期 2026年 3月期 見通し （百万円） Consolidated Capital Expenditures （Millions of yen) 2023/3 2024/3 2025/32021/3 2022/32018/3 2019/3 2020/32016/3 2017/32015/3 2026/3 Forecast
Page 20
連結 All Rights Reserved by DKS Co. Ltd. 20 2,439 2,380 2,393 2,307 2,765 2,748 2,821 2,946 3,236 3,170 3,759 4,200 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 2015年 3月期 2016年 3月期 2017年 3月期 2018年 3月期 2019年 3月期 2020年 3月期 2021年 3月期 2022年 3月期 2023年 3月期 2024年 3月期 2025年 3月期 2026年 3月期 見通し （百万円） Consolidated 2023/3 2024/3 2025/32021/3 2022/32018/3 2019/3 2020/32016/3 2017/32015/3 2026/3 Forecast R&D Costs （Millions of yen)
Page 21
連結 All Rights Reserved by DKS Co. Ltd. 21 Consolidated Disclaimer Regarding Earnings Forecasts and Business Plans This presentation contains such information as the Company’s current plans and earnings forecasts. These forward-looking statements, including future plans and forecasts are based on currently available information. Actual results may differ from forecasts and plans owing to a variety of factors and uncertainties regarding the future. Accordingly, this presentation does not assure or guarantee the Company’s performance. DKS Co. Ltd. Investor Relations Group, Public & Investor Relations Department TEL: +81-3-3275-0654 E-mail: d-ir@dks-web.co.jp