Tokyo Ohka Kogyo raised its full-year forecasts on 10 November, lifting expected sales for the year to December 2026 to ¥300bn from the ¥291bn it published on 30 July. Operating profit is now guided at ¥63.5bn, up from ¥60.6bn.
The revision adds 3.1% to the sales guide and 4.8% to operating profit. Ordinary profit is now forecast at ¥66bn (previously ¥63bn) and profit attributable to owners of the parent at ¥44.5bn (previously ¥42.6bn). The company said the update rests on third-quarter results and its market outlook, with both electronics functional materials and high-purity chemicals expected to stay strong.
Targets reached early, on paper
The revised figures would put sales, operating profit and EBITDA above the final-year targets of the company's mid-term plan, called tok Mid-Term Plan 2027, a year ahead of schedule. The results presentation lists those targets as ¥295bn of sales, ¥58bn of operating profit and ¥72bn of EBITDA, against forecasts of ¥300bn, ¥63.5bn and ¥75.3bn. The company calls this an expectation, and warns that actual results may differ.
What drove the nine months
For the nine months to September, sales rose 25.9% to ¥217.5bn and operating profit rose 44.4% to ¥46.0bn. The company attributes the sales growth to rising demand for AI servers in data centres, which pushed semiconductor demand above the prior-year period. It credits the profit gain to higher sales and currency effects. The yen averaged ¥157.7 to the dollar over the nine months, against ¥146.8 a year earlier, and the forecast assumes ¥155 for the second half.
The year-on-year growth in the full-year guide is separate from the revision: the new sales forecast is 26.6% above the previous year's actual, and operating profit 34.0% above. The guidance notice itself cites market conditions and third-quarter results, not AI demand, as its reason.