Disco (6146) Q2 2027 earnings summary

Executive summary

• FY2026 2Q net sales reached ¥142.8B, up 36.4% YoY; operating income rose 52.3% to ¥67.6B and net income rose 43.5% to ¥46.1B.

• H1 FY2026 net sales increased 32.1% YoY to ¥257,058 million; operating income rose 47.9% to ¥116,639 million and net income rose 43.7% to ¥80,366 million.

• Generative AI demand supported equipment shipments; consumables sales reached a record, and H1 shipments were up ~40% YoY.

Financial highlights

• FY2026 2Q gross profit was ¥102.4B, up 40.7% YoY; SG&A rose 22.6% to ¥34.8B, mainly from personnel and R&D expenses.

• FY2026 2Q ordinary income was ¥66.0B, up 45.2% YoY; income before taxes and minority interests was ¥65.3B, up 45.5%.

• H1 FY2026 gross profit rose to ¥183,917 million from ¥134,009 million; SG&A increased to ¥67,277 million from ¥55,138 million.

• H1 FY2026 ordinary income was ¥114,437 million and profit before income taxes was ¥113,753 million.

Outlook and guidance

• FY2026 3Q forecast: net sales ¥132.4B, operating income ¥58.1B, ordinary income ¥59.0B and net income ¥41.5B; operating margin forecast is 43.9%.

• Revised FY2026 nine-month forecast: net sales ¥389,500 million, operating income ¥174,700 million, ordinary income ¥173,400 million and net income ¥121,900 million.

• Nine-month shipment value forecast was revised to ¥434,200 million; FY2026 3Q shipment forecast was ¥149.6B.

• FY2026 CAPEX forecast is ~¥33B, depreciation ~¥16B and R&D expenses ~¥38B; spending includes the Haneda R&D Center reconstruction and a new plant.