Fuji Electric (6504) Q2 2027 earnings summary

Executive summary

• 6M FY2027 net sales rose 9% YoY to ¥593.3bn; operating profit, ordinary profit and profit attributable to owners reached six-month records.

• Annual guidance was raised, with Energy and Industry driving growth amid weaker semiconductor and vending-machine demand.

Financial highlights

• Operating profit was ¥59.8bn, up 40% YoY; ordinary profit was ¥57.6bn, up 38%.

• Profit attributable to owners was ¥42.1bn, up 58%; EPS was ¥287.64 versus ¥180.62.

• Operating profit growth included +¥21.2bn from sales and production volume and +¥12.0bn from mix and cost reductions, offset by raw material costs (-¥9.2bn) and fixed costs (-¥8.9bn).

• A ¥7.0bn gain on investment securities sales contributed to extraordinary income.

Outlook and guidance

• FY2027 guidance: net sales ¥1,350bn, operating profit ¥168bn, ordinary profit ¥166.5bn, profit attributable to owners ¥117bn and EPS ¥799.98.

• Versus prior guidance, sales rose ¥50bn, operating profit ¥11.5bn, ordinary profit ¥9.5bn and profit attributable to owners ¥5.5bn.

• Forecast operating margin is 12.4%; exchange-rate assumptions are ¥150/US$, ¥175/euro and ¥21.90/Chinese yuan.

• Annual dividend forecast is ¥240 per share.