TOWA CORPORATION raised its forecasts for the year to March 2027 on Friday's release date, with operating profit now guided at ¥13.15bn, up 28.4% from the ¥10.24bn it published on 11 May. Sales are guided at ¥71.0bn, up 10.9% from ¥64.0bn, and net profit attributable to shareholders at ¥9.0bn, up from ¥7.0bn.
What management says
TOWA attributes the change to chipmakers' spending. It says investment in advanced logic and high-performance memory such as HBM is active on the back of generative AI and data-centre demand, and that spending has spread to analog and power semiconductors. Semiconductor makers' capital expenditure is running above the company's original assumption, and demand for its equipment is tracking above expectations, it says.
These are management's explanations. Sales were already forecast at a record; the revision now makes operating, ordinary and net profit forecasts records as well. They are forecasts, and the company says actual results may differ.
The interim base
For the six months to September 2026, sales were ¥33.7bn, up 43.8%, and operating profit was ¥5.69bn, up from ¥2.49bn a year earlier. Net profit was ¥3.83bn. Orders reached ¥54.8bn, which TOWA describes as a record for a first half. In the semiconductor equipment segment, sales of ¥31.5bn rose mainly in Asia, including China and South Korea. The interim statement is not subject to auditor review.
Dividend
TOWA raised its forecast annual dividend to ¥30 a share from ¥24, against ¥20 for the year to March 2026. The year-end payment still depends on a board resolution scheduled for May 2027.