Fuji Electric (6504) Q3 2026 earnings summary

Executive summary

• Achieved record highs in net sales, operating profit, and ordinary profit for the nine months ended December 31, 2025, driven by strong performance in energy and industry segments, despite higher fixed and raw material costs.

• Net sales reached ¥851.1 billion, up ¥60.0 billion or 7.6% year-over-year, with operating profit at ¥74.0 billion, up ¥5.6 billion, and ordinary profit at ¥74.2 billion, up ¥5.8 billion.

• Profit attributable to owners of parent declined by ¥6.9 billion to ¥48.5 billion due to the absence of prior year's extraordinary gains from investment securities sales.

• Comprehensive income rose sharply to ¥90.3 billion, a 46.5% increase year-over-year.

Financial highlights

• Net sales: ¥851.1 billion (+¥60.0 billion or 7.6% YoY); operating profit: ¥74.0 billion (+¥5.6 billion or 8.2% YoY); ordinary profit: ¥74.2 billion (+¥5.8 billion or 8.5% YoY).

• Profit attributable to owners of parent: ¥48.5 billion (−¥6.9 billion or −12.5% YoY); EPS: ¥329.15 (down from ¥387.98 YoY).

• Equity ratio: 54.6% as of December 31, 2025, up from 52.7% at March 31, 2025.

• Free cash flow: ¥12.1 billion, down ¥42.3 billion year-over-year.

• Orders received for the three quarters reached ¥1,008.7 billion, up ¥149.0 billion year-over-year.

Outlook and guidance

• Full-year forecast (ending March 31, 2026): Net sales ¥1,185.0 billion (+5.5%), operating profit ¥128.5 billion (+9.2%), ordinary profit ¥128.0 billion (+7.8%), profit attributable to owners of parent ¥89.0 billion (−3.5%), EPS ¥603.81.

• No revision to previously announced forecasts despite segment-level disparities; Forex assumptions: USD/JPY 140, EUR/JPY 164, RMB/JPY 19.8.

• Energy segment operating profit forecast raised by ¥2.0 billion; industry segment forecast lowered by ¥1.5 billion.

• Overall operating profit ratio target is 10.8%, with a goal to raise it further.