Sankei Chemical (FSE: 4995), a Kagoshima-based manufacturer of agricultural chemicals, industrial chemicals and related products, reported results for the first half of the fiscal year ending November 2026 — the six months from December 1, 2025 to May 31, 2026. Sales rose 12.9% to ¥4,206m, but operating profit fell 14.7% to ¥379m and ordinary profit fell 11.2% to ¥417m, while interim net profit attributable to owners edged up 2.8% to ¥297m. Half-year EPS was ¥332.01, up from ¥322.99.
Sales climb but profit slips from a strong prior year
First-half sales grew on firm demand for the company's agrochemical products. Operating and ordinary profit, however, declined against an unusually strong prior-year first half, when first-half operating profit had more than doubled and set a high base for comparison. Despite the lower operating profit, interim net profit attributable to owners still edged higher, helped by non-operating and extraordinary items. Comprehensive income rose 34.0% to ¥369m.
Balance sheet and dividend
Total assets stood at ¥8,842m, while net assets were ¥3,753m, giving an equity ratio of 40.8%, down from 41.2% a year earlier. Net assets per share were ¥4,024.01. The company left its dividend plan unchanged, guiding a year-end payout of ¥30.00 for a full-year total of ¥30.00, in line with the prior year (FY11/25).
Full-year guidance unchanged
Sankei Chemical kept its full-year forecast for the year ending November 2026 intact, guiding sales of ¥6,608m (+2.5%), operating profit of ¥182m (+0.7%), ordinary profit of ¥286m (+1.7%) and net profit of ¥226m (+24.6%), for EPS of ¥252.16. As is typical for the agrochemical business, earnings are heavily weighted toward the first half, so full-year operating profit is guided below the first-half result.
| Metric | H1 FY11/26 | H1 FY11/25 | YoY |
|---|---|---|---|
| Sales (¥m) | 4,206 | 3,727 | +12.9% |
| Operating profit (¥m) | 379 | 445 | −14.7% |
| Ordinary profit (¥m) | 417 | 470 | −11.2% |
| Net profit attrib. (¥m) | 297 | 289 | +2.8% |
| EPS (¥) | 332.01 | 322.99 | +2.8% |
| Equity ratio | 40.8% | 41.2% | −0.4pp |
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