Fuji Spin Holdings <3104> announced its consolidated financial results for the second quarter of the fiscal year ending March 2025 (April to September 24). Sales revenue increased by 23.2% year-on-year to 21.06 billion yen, operating profit increased by 226.1% to 2.992 billion yen, ordinary profit increased by 143.4% to 3.071 billion yen, and net income attributable to parent company shareholders increased by 133.6% to 2.095 billion yen.

Revenue from the abrasives business increased by 3.487 billion yen year-on-year to 9.209 billion yen, with operating profit increasing by 1.971 billion yen to 2.125 billion yen. The global semiconductor market, after bottoming out in the first half of 2023, has been gradually recovering in the first half of 2024. Against this backdrop, demand for semiconductor devices (CMP) for MEMS and leading-edge logic has increased due to the rapid adoption of AI, leading to an increase in orders.

Revenue from the chemical industrial products business increased by 0.434 billion yen to 6.82 billion yen, with operating profit increasing by 0.253 billion yen to 0.595 billion yen. Contract manufacturing of functional materials, pharmaceutical intermediates, and agrochemical intermediates saw a recovery in demand due to the modest expansion of the electronic materials market, including semiconductors, and the completion of inventory adjustments.

Revenue from the lifestyle apparel business increased by 0.094 billion yen to 3.544 billion yen, while operating profit decreased by 0.062 billion yen to 0.321 billion yen. Textile materials faced challenges due to rising logistics and energy costs, as well as the impact of the depreciation of the yen.

Other revenue decreased by 0.055 billion yen to 1.485 billion yen, resulting in an operating loss of 0.05 billion yen (compared to a profit of 0.036 billion yen in the same period last year). The chemicals division showed a mixed performance against the prior year, and the mold division faced continued difficulties due to quality issues in the auto manufacturers' sector.

For the full fiscal year ending March 2025, considering the strong performance of the abrasives business due to increased semiconductor demand, the consolidated performance forecast has been revised. Sales revenue is expected to increase by 21.0% to 43.7 billion yen, operating profit to increase by 112.9% to 6 billion yen, ordinary profit to increase by 89.2% to 6.2 billion yen, and net income attributable to parent company shareholders to increase by 93.6% to 4.1 billion yen.