Dowa HoldingsDOWA HOLDINGS CO.,LTD.5714東証プライム非鉄金属FY ending Mar 2026, consolidated, J-GAAP

Dowa Holdings FY ending Mar 2026 results

About 47% of Dowa Holdings's sales come from Refinery, with Metalworking and Ecology and recycle making up much of the rest.

Out of every ¥100 of sales, about ¥5 is left as operating profit.

Revenue changed +9.8% from the prior year, operating profit +6.1%.

Revenue and profit pattern

Revenue and profit upRevenue grew faster

Revenue +9.8% · profit +6.1%, calculated from disclosed figures.

Operating leverage: 0.62× (profit growth ÷ revenue growth)

FY ending Mar 2025 → FY ending Mar 2026

Revenue grew +9.8% from ¥678.7B to ¥745.4B in the FY ending Mar 2026, and operating income rose +6.1% from ¥32.2B to ¥34.2B.
Net income rose +130.2% from ¥27.1B to ¥62.5B, lifted by higher equity-method earnings, mainly from an overseas zinc mine, and a gain on selling investment securities.
Cash was tighter: operating cash flow fell -59.1% from ¥12.8B to ¥5.24B, and free cash flow stayed negative at -¥29.9B.

Higher average prices for gold, silver and platinum-group metals lifted refining revenue
Stronger sales of copper products for AI servers and for a recovering auto industry boosted the metalworking segment's profit
Worse terms for buying smelter feedstock, hedge valuation losses from a weaker yen and rising precious metal prices, and higher labor and depreciation costs held profit back
Larger equity-method income from an overseas zinc mine and gains on selling investment securities pushed up net income
A build-up of inventory weighed on operating cash flow

Lower metal prices or a stronger yen, if they last, could hurt results; refining is the most exposed because it trades precious and base metals in foreign currencies
Feedstock terms for the smelters could worsen depending on how overseas mines operate
Shifts in the IT equipment, new energy and auto industries could cut demand for its materials and processed products

Annual securities report (FY ending Mar 2026) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual securities report (FY ending Mar 2026) / 事業等のリスク

FY ending Mar 2025 → FY ending Mar 2026

For every ¥100 Dowa Holdings sells, how much goes where, and how much is kept.

FY ending Mar 2026

Gross margin12.1%

Operating margin4.6%

Net margin8.4%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Refinery¥352.2B
47%
Op. margin 5.6%Industry: Non-ferrous Metals & Wires
Metalworking¥147.3B
20%
Op. margin 6.6%Industry: Non-ferrous Metals & Wires
Ecology and recycle¥111.1B
15%
Op. margin 14.9%Industry: Waste Management & Recycling
Electronic materials¥96.1B
13%
Op. margin 1.2%Industry: Semiconductor Materials
Heat-treat¥34B
5%
Op. margin 8.0%Industry: Industrial Machinery
Other¥4.74B
1%
Op. margin 19.7%

※ Segment figures include inter-segment sales and do not sum to the company total

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第123期(2025/04/01－2026/03/31)
ID S100YGIN2026-06-23Open
EDINET (FSA Japan)
有価証券報告書－第122期(2024/04/01－2025/03/31)
ID S100W2F92025-06-24Open
EDINET (FSA Japan)
有価証券報告書－第121期(2023/04/01－2024/03/31)
ID S100TO7R2024-06-25Open
EDINET (FSA Japan)
有価証券報告書－第120期(2022/04/01－2023/03/31)
ID S100R5AK2023-06-29Open
EDINET (FSA Japan)
有価証券報告書－第119期(令和3年4月1日－令和4年3月31日)
ID S100OEIA2022-06-24Open
EDINET (FSA Japan)
有価証券報告書－第118期(令和2年4月1日－令和3年3月31日)
ID S100LNJD2021-06-24Open

Extracted from XBRL: 55 / Derived from other figures: 2

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