JX Metals reported strong second-quarter results for its fiscal year ending March 2027, with operating profit reaching ¥69.4 billion, a 73% increase from the same period last year. The company surpassed analyst expectations of ¥67.1 billion by 3.5%, driven by rising demand for AI-related products in its Semiconductor and ICT Materials division, as well as higher copper prices and a weaker yen.
Following the results, JX Metals raised its full-year operating profit forecast to ¥255 billion, up from the previous ¥232 billion. This represents a 46% year-over-year increase, though the new guidance remains below the analyst consensus of ¥267.9 billion.
The company attributed the upward revision to robust demand for AI-related materials but noted that lower mine and smelter output limited further gains. Management also adjusted its copper price assumption to $13,650 per ton, down from the earlier estimate of $14,600 per ton.