Fuji Corporation (6134) Q4 2025 earnings summary

Executive summary

• FY2025 saw modest increases in sales and profits despite a slow electronics market recovery and continued order challenges in Europe and North America; Asia showed signs of order recovery.

• Robotic Solutions, accounting for 89% of sales, experienced a slight sales decline and a notable profit drop, while Machine Tools saw higher sales and profit due to North American projects and structural reforms.

• The first year of the mid-term plan met operating profit targets but missed sales goals, mainly due to delayed electronics market recovery and die bonder market weakness.

• Comprehensive income dropped sharply to ¥6,476 million, down 67.9% year-over-year, mainly due to negative other comprehensive income items.

Financial highlights

• Net sales rose to ¥127,387 million (+0.3% YoY); operating profit reached ¥13,781 million (+2.7%); profit attributable to owners of parent increased to ¥10,906 million (+4.5% YoY).

• Total assets decreased by ¥6,648 million, mainly from lower cash and inventories; net assets fell by ¥9,595 million due to share buybacks.

• Operating margin improved to 10.8% from 10.6% YoY; ROE stood at 4.9%.

• Cash and cash equivalents at year-end were ¥58,005 million, down ¥4,461 million from the previous year.

• Annual dividend maintained at ¥80 per share, with a payout ratio of 66.9%.

Outlook and guidance

• FY2026 forecasts project net sales of ¥147,000 million (+15.4%) and operating profit of ¥18,000 million (+30.6%), driven by Robotic Solutions growth.

• Profit attributable to owners of parent for FY2026 is forecast at ¥14,000 million (+28.4%).

• Dividend of ¥80 per share planned, maintaining a payout ratio of 50% or more.

• FY2027 targets revised upward for Robotic Solutions, with a focus on expanding NXTR production and market share.

• Management highlights uncertainty from U.S. tariff policy and global economic conditions but expects growth in AI and automotive IoT fields.