ALCONIX (3036): FY2025 Results Summary — Operating Profit Up 40.8% on Minor Metals and Metal Processing

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

ALCONIX CORPORATION reported record-level results for the fiscal year ended March 31, 2026 (FY3/26). Net sales rose 11.5% year on year to ¥219,720 million, operating profit increased 40.8% to ¥9,743 million, and profit attributable to owners of parent grew 16.5% to ¥5,598 million. Growth was led by minor metals and battery-related transactions in the Electronic and Advanced Materials business and by chip-mounter parts, battery-related stamped parts, and aviation-, space-, and defense-related metal processed products in the Metal Processing business.

Note: ALCONIX labels its most recent completed fiscal year as “FY3/26” (year ended March 31, 2026); under this site’s convention it is classified as FY2025. All figures, tables, headings, and labels below follow the company’s own FY3/26 (actual) and FY3/27 (forecast) notation as shown in the source material.

Consolidated Results (FY3/26 Actual)

According to the Executive Summary, the operating environment featured expanding data-center-related businesses, firm smartphone-related demand, and semiconductor-related businesses trending toward recovery from the second half onward. Aluminum and copper market conditions and the non-ferrous metal scrap market also recovered from the second half, while minor metal prices such as tungsten surged. Operating profit margin improved 0.9pt to 4.4% and ordinary profit margin rose 0.2pt to 4.1%.

Item (Millions of yen)	FY3/25	FY3/26	YoY change (%)
Net sales	197,004	219,720	+11.5%
Gross profit	26,021	30,625	+17.7%
SG&A expenses	19,101	20,882	+9.3%
Operating profit	6,919	9,743	+40.8%
Ordinary profit	7,528	8,947	+18.9%
Profit attributable to owners of parent	4,805	5,598	+16.5%
EPS (exact yen)	159.31	186.58	–
EBITDA (Ref.)	11,734	14,519	+23.7%
ROE	8.6%	9.6%	–
ROIC	3.9%	4.2%	–

Segment Results (FY3/26)

In the Trading business, Electronic and Advanced Materials grew sales on minor metals and battery-related transactions, with improved profitability in nickel transactions lifting profit; Aluminum and Copper posted higher sales on higher aluminum and copper prices and a recovery in scrap demand, but recorded a segment loss due to sluggish first-half margins and weaker automobile-related demand. In the Manufacturing business, Equipment and Materials grew sales on plating and non-destructive testing materials for the North American market but saw lower profit on a sluggish carbon brush business, while Metal Processing raised both sales and profit on chip-mounter parts, battery-related stamped parts, and aviation-, space-, and defense-related metal processed products.

Segment	Metric (Millions of yen)	FY3/25	FY3/26
Electronic and Advanced Materials (Trading)	Net sales	32,054	39,763
Electronic and Advanced Materials (Trading)	Segment profit	2,235	2,875
Aluminum and Copper (Trading)	Net sales	82,552	90,601
Aluminum and Copper (Trading)	Segment profit	492	-65
Trading total	Net sales	114,607	130,364
Trading total	Segment profit	2,727	2,809
Equipment and Materials (Manufacturing)	Net sales	45,831	48,428
Equipment and Materials (Manufacturing)	Segment profit	1,610	1,482
Metal Processing (Manufacturing)	Net sales	36,566	40,926
Metal Processing (Manufacturing)	Segment profit	3,241	4,630
Manufacturing total	Net sales	82,397	89,355
Manufacturing total	Segment profit	4,851	6,112

FY3/27 Full-Year Forecast

For FY3/27, ALCONIX forecasts net sales of ¥235,000 million (+7.0% YoY), operating profit of ¥10,700 million (+9.8%), ordinary profit of ¥10,000 million (+11.8%), and profit attributable to owners of parent of ¥6,600 million (+17.9%). The forecast assumes market prices of US$3,100/MT for aluminum, US$13,000/MT for copper, and US$17,500/MT for nickel, and an exchange rate of ¥155/USD.

Item (Millions of yen)	FY3/27 Forecast	FY3/26 Actual	YoY change (%)
Net sales	235,000	219,720	+7.0%
Operating profit	10,700	9,743	+9.8%
Ordinary profit	10,000	8,947	+11.8%
Profit attributable to owners of parent	6,600	5,598	+17.9%
EPS (exact yen)	219.95	186.58	–
EBITDA (Ref.)	15,700	14,519	+8.1%
ROE	10.6%	9.6%	–
ROIC	5.9%	4.2%	–
Dividend per share (yen)	90	87	–

Shareholder Returns

For FY3/26, ALCONIX raised the annual dividend by ¥13 from the previous fiscal year to ¥87 per share (interim ¥42 + year-end ¥45), equivalent to a dividend on equity (DOE) of 4.5%. The FY3/26 year-end dividend will be proposed at the 45th Ordinary General Meeting of Shareholders to be held in June 2026. For FY3/27 the company plans an annual dividend of ¥90 per share (DOE 4.4%). Under Long-Term Management Plan 2030, ALCONIX targets a DOE of 4% or higher.

Item	FY3/25	FY3/26	FY3/27 (Forecast)
Annual dividend per share (yen)	74	87	90
DOE (based on shareholders’ equity)	4.0%	4.5%	4.4%

Progress on Long-Term Management Plan 2030

ALCONIX revised the FY3/27 numerical targets of Long-Term Management Plan 2030 in light of changes in the external environment. In FY3/26, operating profit (¥9,743 million), ordinary profit (¥8,947 million), EBITDA (¥14,519 million), and ROE (9.6%) all exceeded plan, while ROIC (4.2%) fell short of the 5.4% plan. FY3/31 targets include ordinary profit of ¥15,000 million, ROE of 12% or higher, and ROIC of 8% or higher. Strategic initiatives include a decided policy to integrate four companies in the Aluminum and Copper business, structural reforms of low-profit businesses, continued M&A, and expansion of the non-ferrous metal recycling business.

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