Fuji Electric (6504) Q4 2026 earnings summary

Executive summary

• Achieved record-high consolidated net sales of ¥1,227.6 billion, operating profit of ¥136.6 billion, and profit attributable to owners of parent of ¥98.0 billion for FY2025, surpassing medium-term plan targets a year early.

• Growth was driven by strong performance in Energy and Industry segments, favorable foreign exchange, robust demand for FA and ED&C components, and capital investment in power, manufacturing, and data centers.

• Achieved ROE of 13.1% and ROIC of 12.6%, both above medium-term plan targets.

• Business mix shifted, with Plant Systems/Energy increasing to 58% of net sales and generating 70% of profit in FY2025.

• Achieved key financial targets one year ahead of schedule, positioning for a strong finish to the current medium-term plan and a solid start for the next.

Financial highlights

• Net sales: ¥1,227.6 billion (+9.3% YoY); operating profit: ¥136.6 billion (+16.1% YoY); ordinary profit: ¥139.3 billion (+17.3% YoY); profit attributable to owners of parent: ¥98.0 billion (+6.3% YoY).

• Operating profit ratio improved to 11.1% (+0.7pp YoY), rising from 8.6% in FY2023.

• Comprehensive income reached ¥139.8 billion (+50.2% YoY).

• Net sales, operating profit, and profit attributable to owners of parent have set new record highs each year since FY2020.

• Free cash flow declined to ¥51.0 billion due to higher receivables and lower proceeds from securities sales.

Outlook and guidance

• FY2027 forecast: Net sales ¥1,275.0 billion (+3.9% YoY), operating profit ¥142.5 billion (+4.3% YoY), ordinary profit ¥143.0 billion (+2.6% YoY), profit attributable to owners of parent ¥105.0 billion (+7.1% YoY), profit per share ¥712.36.

• ROE and ROIC for FY2026 are projected at 12.8% and 12.6%, respectively.

• Continued focus on expanding production capacity in Energy and R&D investment in Semiconductors.

• Interim dividend for FY2027 set at ¥107 per share; year-end dividend yet to be determined.

• Segment forecasts: Energy and Food & Beverage Distribution expected to grow, while Semiconductors and Industry segments face slight declines or modest growth.