Ibiden (4062) investor relations material

Executive summary

• Q1 FY2026 revenue reached JPY 123.2 billion, with electronics contributing JPY 75.5 billion, and operating profit up 52.4% to JPY 26.9 billion.

• Strong demand for GPUs, high-end CPUs, and AI servers in the electronics segment drove sales above initial plans, prompting significant upward revisions to forecasts.

• Ceramics segment experienced a temporary order increase for DPFs, but the automotive sector outlook remains unpredictable.

• Full-year earnings forecast revised upward due to robust electronics demand and pricing, while ceramics is expected to see a decline in the second half.

• Comprehensive income decreased 8.8% year-over-year to JPY 19,190 million.

Financial highlights

• First half revenue forecast raised to JPY 253.5 billion (+10%), operating profit to JPY 54.5 billion (+43%), and net profit to JPY 34 billion (+48%).

• Full year revenue forecast increased to JPY 550 billion (+10%), operating profit to JPY 127 billion (+41%), and net profit to JPY 84 billion.

• Net profit margin expected at 13.4% for the first half, with operating margin revised from 18% to 23% for the full year.

• Basic earnings per share for the quarter were JPY 64.14, reflecting the impact of a stock split.

• Cash and deposits rose to JPY 373,366 million, up JPY 77,684 million from March 2026.

Outlook and guidance

• Strong demand for AI servers, high-end CPUs, and switching ICs expected to persist, supporting high utilization rates and strong selling prices.

• Automotive sector remains unpredictable, with lower revenue and profit expected in the second half.

• Upward revisions for both electronics and ceramics segments for the full year.

• Other segments anticipated to achieve sales and profit growth.