Hamamatsu Photonics (6965) Q3 2026 earnings summary

Executive summary

• Sales and operating profit increased year-over-year, driven by robust industrial and semiconductor demand, especially from AI data center-related applications, despite ongoing geopolitical and supply chain uncertainties.

• Net sales for the nine months ended June 30, 2026, rose 11.3% year-over-year to JPY 173,047 million, with operating profit up 33.1% and profit attributable to owners of parent up 31.3%.

• Comprehensive income more than doubled year-over-year, reaching JPY 25,606 million.

• Upward revision of full-year forecasts due to continued strong industrial demand and favorable exchange rates.

Financial highlights

• FY2026 Q3 YTD sales reached ¥173.0 billion, up 11.3% year-over-year; operating profit was ¥16.3 billion, up 33.1%; net profit for FY2026 Q3 YTD was ¥12.6 billion, a 31.3% increase year-over-year.

• EBITDA for FY2026 Q3 YTD was ¥33.2 billion, up 17.2% year-over-year.

• Ordinary profit for the nine months was JPY 19,363 million, up 38.5%.

• Gross profit margin improved, with gross profit at JPY 83,620 million versus JPY 75,045 million a year earlier.

• Earnings per share for the period was JPY 43.05, up from JPY 31.96.

Outlook and guidance

• FY2026 full-year sales forecast revised to ¥239.0 billion (+12.7% YoY), operating profit to ¥22.0 billion (+36.1% YoY), ordinary profit to ¥25.5 billion (+35.6% YoY), and profit attributable to owners of parent to ¥17.5 billion (+23.2% YoY).

• Earnings per share forecast raised to JPY 60.53.

• Forecasts reflect continued industrial demand, especially for semiconductor fabrication and inspection, and updated exchange rate assumptions (USD/JPY 158.25, EUR/JPY 183.43, CNY/JPY 22.10).