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Trend Micro (4704) investor relations material
Trend Micro Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record quarterly and annual net revenues and operating income for FY2025, with Q4 net sales up 5% year-over-year and full-year net sales up 1.2% year-over-year to ¥275,984 million.
Operating income margin improved to 18% in Q4 and 21% for the full year, with operating income up 20.1% to ¥57,777 million, driven by strong cost management.
Enterprise segment drove growth, while consumer segment faced headwinds with declining sales; Americas region declined 6.2% due to currency effects and weak consumer business.
Operating income growth was supported by cost controls, especially in personnel and outsourcing, offsetting weaker-than-expected sales in the Americas and Asia Pacific.
All regions except the Americas posted sales growth.
Financial highlights
Q4 2025 net sales: ¥73,230M (+5% YoY); operating income: ¥13,303M (+50% YoY); net income: ¥7,580M (-5% YoY).
FY2025 net sales: ¥275,984M (+1.2% YoY); operating income: ¥57,777M (+20.1% YoY); net income: ¥34,523M (+0.5% YoY).
Pre-GAAP operating income for FY2025: ¥80,799M (+4% YoY).
Cash and cash equivalents at year-end: ¥230,458M (+23% YoY), up ¥43,066M from the prior year.
Dividend per share: ¥185 (+1% YoY), with a 70% payout ratio.
Outlook and guidance
FY2026 guidance: net sales ¥301,500M (+9.2% YoY), operating income ¥56,400M (-2.4% YoY), net income ¥36,600M (+6% YoY).
Sales growth expected in all regions, with Americas and Europe forecasted to grow ~10% and Asia Pacific in the mid-teens.
Expecting higher costs in FY2026 due to upfront investments in R&D, sales, marketing, and the Magna joint venture; operating margin expected to temporarily deteriorate.
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