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Hamamatsu Photonics (6965) investor relations material
Hamamatsu Photonics Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Sales increased 2.6% year-over-year to ¥51.9 billion in FY26 Q1, with strong industrial growth and medical-bio demand stabilizing.
Operating profit declined 43.9% year-over-year to ¥2.4 billion due to upfront investments and higher SG&A expenses.
Net profit attributable to owners of parent dropped 33.5% to ¥2.78 billion.
Comprehensive income rose 5.3% year-over-year to ¥10.21 billion, driven by foreign currency translation gains.
Full-year forecast maintained: sales ¥222.0 billion (+4.7%), operating profit ¥17.2 billion (+6.4%), EPS ¥48.67.
Financial highlights
Gross profit margin decreased by 2.7 percentage points to 45.6% due to increased investments.
SG&A expenses rose by ¥1.1 billion year-over-year.
Total assets increased to ¥478.3 billion, up ¥23.3 billion from the previous fiscal year-end.
Net assets decreased to ¥319.98 billion, mainly due to treasury share purchases.
Sales by region: Asia up 5.7%, North America up 9.7%, Japan up 3.7%, Europe down 8.8%.
Outlook and guidance
No change to full-year earnings forecasts; FY26 sales expected at ¥222.0 billion, up 4.7% year-over-year.
Gross margin improvement anticipated in the second half due to price optimization.
Order intake remains strong, tracking ahead of last year.
Assumes exchange rates of JPY 148/USD, JPY 170/EUR, and JPY 20/RMB for the fiscal year.
- Sales grew 4% but profits dropped sharply; modest recovery and tech focus ahead.6965
Q4 202510 Nov 2025 - Q1 FY25 profit and sales fell, but full-year guidance and share buyback remain unchanged.6965
Q1 202510 Sep 2025 - Sales up, profits down sharply; full-year outlook cut amid persistent market challenges.6965
Q3 20258 Aug 2025 - Sales to recover in FY25, with profits pressured by upfront investments for future growth.6965
Q4 202413 Jun 2025 - Full-year outlook cut as sales and profit fall, but Laser segment expands via NKT Photonics deal.6965
Q3 202413 Jun 2025 - Sales up, profits down; outlook steady as recovery and cost pressures persist.6965
Q2 20256 Jun 2025
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