Rasa Industries FY26 Net Profit Jumps 39% to ¥4.36 Billion; Announces 5-for-1 Stock Split

Rasa Industries, Ltd. (TSE: 4022) reported consolidated full-year results for the fiscal year ended March 31, 2026 (FY3/2026) under Japanese GAAP. Revenue rose 5.1% year-on-year to ¥47,727 million, while operating profit jumped 26.9% to ¥6,012 million from ¥4,736 million. Ordinary profit advanced 34.5% to ¥6,191 million from ¥4,602 million, and net profit attributable to owners of the parent surged 39.2% to ¥4,359 million from ¥3,131 million. The operating margin widened to 12.6% from 10.4%, while the ordinary-profit margin improved to 12.9% from 10.2%, signalling a strong year of operating leverage for the diversified chemicals and materials maker.

Profitability and returns step up

The earnings step-up flowed through to shareholder return metrics. Return on equity rose to 14.6% from 11.9%, and comprehensive income climbed 29.6% to ¥5,005 million. Equity in earnings of affiliates accounted for under the equity method more than tripled to ¥337 million from ¥109 million, adding to the bottom-line momentum. Basic earnings per share came in at ¥111.63 versus ¥79.75 in the prior year, both figures restated for the 5-for-1 stock split as if it had taken place at the start of FY3/2025.

5-for-1 stock split

Effective April 1, 2026, Rasa Industries carried out a five-for-one split of its common shares, designed to lower the per-share investment unit and broaden the company's shareholder base. Reported per-share figures — EPS, book value per share and the FY3/2027 dividend forecast — reflect the post-split basis, while the FY3/2026 and FY3/2025 actual dividend amounts in the company's filing are stated on the pre-split basis. The total number of shares issued was unchanged at 39,721,015 on a pre-split count, with 659,670 treasury shares at period end.

Balance sheet and cash flow

Total assets rose to ¥49,973 million from ¥45,838 million, while net assets increased to ¥31,840 million from ¥27,877 million, lifting the equity ratio to 63.7% from 60.8% and net assets per share to ¥815.15 from ¥714.13. Operating cash flow strengthened to ¥6,149 million from ¥5,038 million; investing activities used ¥4,485 million and financing activities used ¥1,960 million, reflecting capital expenditure and shareholder returns. Period-end cash and equivalents eased to ¥4,823 million from ¥5,054 million.

Dividend

For FY3/2026 the company paid a total annual dividend of ¥180.00 per share (¥64.00 interim plus ¥116.00 year-end) on a pre-split basis, up sharply from ¥120.00 the prior year, taking total dividends to ¥1,406 million and the consolidated payout ratio to 32.2%. For FY3/2027, on the post-split basis, management forecasts an annual dividend of ¥36.00 per share (¥18.00 interim plus ¥18.00 year-end), implying a payout ratio of 32.7%.

FY27 guidance: top-line growth, flat profit

For FY3/2027, management guides to revenue of ¥54,000 million (+13.1%) and operating profit of ¥6,200 million (+3.1%). Ordinary profit is guided to ¥6,300 million (+1.7%), while net profit attributable to owners is seen easing slightly to ¥4,300 million (−1.4%), giving forecast basic EPS of ¥110.08 on the post-split share count. The first-half outlook anticipates revenue of ¥26,000 million (+14.5%) with operating profit of ¥2,800 million (−2.1%), pointing to a modest near-term margin give-back even as the top line accelerates.

JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.