Advanced Micro-Fabrication Equipment (688012) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 reached ¥8.06 billion, up 46.40% year-over-year, with significant growth in both etching and thin film equipment segments.

• Net profit attributable to shareholders was ¥1.21 billion, a 32.66% increase year-over-year, driven by higher gross profit and increased non-recurring investment income.

• R&D investment surged 63.44% to ¥2.52 billion, representing 31.29% of revenue, reflecting intensified efforts to accelerate new product development.

Financial highlights

• Q3 revenue was ¥3.10 billion, up 50.62% year-over-year; etching equipment revenue in Q3 was ¥2.32 billion, up 35.34%.

• Operating cash flow for the first nine months was ¥1.30 billion, up 385.23% year-over-year, mainly due to increased collections from higher sales.

• Basic EPS for the first nine months was ¥1.94, up from ¥1.48 in the prior year.

Outlook and guidance

• Accelerated R&D and product launches are expected to continue, with multiple new equipment types in the pipeline and faster time-to-market for new products.

• Next-generation etching and thin film equipment are set to enter the market, aiming to maintain technological leadership.