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TOKAI CARBON, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 5% Increase

Thu Nov 6, 2025 3:30 pm JST Earnings

5301 TOKAI CARBON CO., LTD. 【J-GAAP】

Earnings Report

TOKAI CARBON CO., LTD. <5301> [TSE Prime] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2025 (January to September) expanded 21.0 billion yen, an increase 30.8% compared to the same period last year.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 8.2%, from the previous forecast of 22.0 billion yen to 23.8 billion yen (compared to 22.5 billion yen in the previous period), turning to a 5.4% increase in the consolidated ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has been revised upward 22.2%, from the previous forecast of 8.12 billion yen to 9.92 billion yen (compared to 12.0 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 32.6% to 17.7%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit grew 28.9% from the same period last year, reaching 7.18 billion yen. The operating profit margin improved from 7.7% in the same period last year to 9.3%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2023 267,675 29,749 33,034 21,375 100.3 79.4 Nov 7, 2023 J-GAAP
Jan - Sep, 2024 258,659 15,211 16,097 5,584 26.2 71.3 Nov 6, 2024 J-GAAP
Jan - Sep, 2025 237,336 21,301 21,061 16,354 76.6 88.5 Nov 6, 2025 J-GAAP
YoY -8.2% +40.0% +30.8% +192.9% +192.6%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2025 Prev 182,924 9,344 8,126 2,462 11.5 15 Aug 7, 2025 J-GAAP
Jul - Dec, 2025 New 162,924 10,044 9,926 9,462 44.3 15 Nov 6, 2025 J-GAAP
Revision Rate -10.9% +7.5% +22.2% +284.3% +284.4%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 341,000 23,300 22,000 11,000 51.5 30 Feb 12, 2025 J-GAAP
Dec, 2025 New 321,000 24,000 23,800 18,000 84.3 30 Nov 6, 2025 J-GAAP
Revision Rate -5.9% +3.0% +8.2% +63.6% +63.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 179,192 10,962 12,059 -60,397 -283.1 15 Feb 12, 2025 J-GAAP
Jul - Dec, 2025 Guidance 162,924 10,044 9,926 9,462 44.3 15 Nov 6, 2025 J-GAAP
YoY -9.1% -8.4% -17.7% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 363,946 38,728 41,607 25,468 119.5 36 Feb 13, 2024 J-GAAP
Dec, 2024 350,114 19,386 22,579 -56,736 -265.9 30 Feb 12, 2025 J-GAAP
Dec, 2025 Guidance 321,000 24,000 23,800 18,000 84.3 30 Nov 6, 2025 J-GAAP
YoY -8.3% +23.8% +5.4% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 87,737 6,787 5,577 1,923 9.0 7.7 Nov 6, 2024 J-GAAP
Oct - Dec, 2024 91,455 4,175 6,482 -62,320 -292.1 4.6 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 80,346 7,136 6,472 3,026 14.2 8.9 May 14, 2025 J-GAAP
Apr - Jun, 2025 77,730 6,820 7,402 5,512 25.8 8.8 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 79,260 7,345 7,187 7,816 36.6 9.3 Nov 6, 2025 J-GAAP
YoY -9.7% +8.2% +28.9% +306.4% +305.9%

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