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Kokusai Electric (6525) investor relations material
Kokusai Electric Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary11 Nov, 2025
Executive summary
Second-quarter revenue and profit increased year-over-year and sequentially, surpassing forecasts due to accelerated equipment sales, especially to local Chinese manufacturers and service upgrades for global clients.
2Q FY26/3 revenue rose 33% YoY to JPY 65.4B; adjusted operating profit up 28% YoY to JPY 14.4B; net income up 85% YoY to JPY 8.8B.
Revenue for the six months ended September 30, 2025, increased 2.3% year-over-year to ¥117,205 million, while operating profit declined 17.2% to ¥22,710 million.
Interim dividend of JPY 18 per share was confirmed.
Some equipment sales expected in 2H are now forecasted to slip into FY27/3, prompting a downward revision in full-year revenue and profit forecasts, but the dividend forecast remains unchanged.
Financial highlights
Second-quarter revenue grew 33% year-over-year, driven by equipment and service sales to Chinese manufacturers.
Adjusted operating profit rose 28% year-over-year in Q2, but cumulative first-half adjusted operating profit fell 17% due to margin pressure and higher R&D.
Gross profit margin for the first half was 42.2%, down 2.6 points year-over-year due to product mix changes but in line with plan.
Free cash flow for Q2 was JPY 7.1 billion; equity capital ratio rose to 60.7%.
Net cash provided by operating activities was ¥16,859 million, while net cash used in investing activities was ¥16,672 million.
Outlook and guidance
Full-year sales and profit forecasts were revised downward: sales revenue cut by 6% and adjusted operating profit by 20% from previous guidance, mainly due to delayed equipment sales now expected in the next fiscal year.
Full-year revenue is forecast at ¥230,000 million, up 3.7% year-over-year.
Operating profit is projected to decline 24.4% to ¥38,800 million, with net income expected to fall 22.5% to ¥27,900 million.
Despite lower sales, annual dividend forecast remains unchanged.
For fiscal year ending March 2027, sales growth of over 10% is expected (including delayed sales), with at least 5% growth even excluding delays.
Reconcile Q2 revenue growth with FY26 revenue forecast
Detail the significant increase in capital expenditures
Explain the reduction in total liabilities and loans payable
Detail CY2026 WFE growth by region and application
How does cautious NAND CapEx affect future growth?
Mid-term plan: What assumptions changed most?
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Next Kokusai Electric earnings date
Q3 202612 Feb, 2026
Next Kokusai Electric earnings date
Q3 202612 Feb, 2026
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Frequently asked questions
Kokusai Electric Corporation is a Tokyo-based company specializing in the development, manufacturing, sales, repair, and maintenance of semiconductor manufacturing equipment on a global scale. The firm's offerings encompass deposition process equipment, treatment process equipment, measuring systems, and ultrasonic generators, alongside the sale of related parts and new and used equipment for wafers. The company is headquartered in Chiyoda-ku, Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.
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