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SMC (6273) investor relations material

SMC Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary12 Feb, 2026

Executive summary

  • Net sales for FY25 Q3 reached ¥609.9 billion, up 3.3% year-over-year, driven by strong demand in Greater China and recovery in Japan, North America, and South Korea.

  • Operating profit for FY25 Q3 was ¥137.5 billion, a 3.7% decrease year-over-year due to higher cost ratios, personnel expenses, and depreciation.

  • Net profit for FY25 Q3 was ¥121.6 billion, up 1.0% year-over-year.

  • Comprehensive income surged 35.6% year-over-year to ¥203.1 billion, supported by significant foreign currency translation gains.

  • Ordinary profit increased 1.8% year-over-year to ¥169.2 billion, mainly from higher foreign exchange gains.

Financial highlights

  • Gross profit margin for FY25 Q3 was 45.3%, slightly down from 46.1% in the prior year.

  • SG&A expenses increased 7.5% year-over-year to ¥138.9 billion.

  • Depreciation and R&D expenses rose 29.1% and 10.0% year-over-year, respectively.

  • Basic earnings per share increased to ¥1,916.97 from ¥1,880.28 year-over-year.

  • Total assets as of December 31, 2025, were ¥2,255,119 million, up 7.3% from the previous fiscal year end.

Outlook and guidance

  • FY25 full-year net sales forecast is ¥816.0 billion, with operating profit projected at ¥183.0 billion.

  • Net profit for the full year is forecast at ¥153.0 billion, with basic EPS of ¥2,406.70.

  • Annual dividend forecast maintained at ¥1,000 per share.

  • Orders for semiconductors and electric industries are expected to increase across all regions.

  • No changes to previously announced forecasts.

Explain operating vs ordinary profit divergence?
Impact of aggressive capital investments on capacity?
Which industries show demand recovery signs?
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