Ibiden (4062) Q2 2026 earnings summary

Executive summary

• Net sales for the first half of FY2025 increased by 7.7% year-over-year to ¥195,485 million, with operating profit up 14.2% to ¥32,573 million and net profit up 7.7% compared to the same period last year.

• Comprehensive income surged to ¥37,612 million from a loss of ¥1,801 million in the prior year period.

• Strong performance in the electronics segment, particularly driven by demand for AI servers, offset by weaker results in ceramics due to market uncertainties.

Financial highlights

• First half FY2025 net sales reached ¥195.5 billion, operating profit ¥28.5 billion, and net profit ¥20.5 billion.

• Full-year FY2025 net sales forecast is ¥420.0 billion (+13.7% YoY), operating profit ¥61.0 billion (+28.1% YoY), and net profit ¥37.0 billion (+9.8% YoY).

• Basic earnings per share for the quarter were ¥158.07, up from ¥146.92 a year earlier.

• Capital adequacy ratio improved to 50.6% from 45.3% at the end of the previous fiscal year.

• Total assets as of September 30, 2025, were ¥1,037,938 million, with net assets at ¥532,153 million.

Outlook and guidance

• Second half FY2025 net sales expected to rise 15% sequentially, but net profit is forecast to decrease by 32% due to higher depreciation and lower ceramics performance.

• EPS forecast for FY2025 is ¥132.50, reflecting the impact of a planned 2-for-1 stock split effective January 1, 2026.

• Mid-term vision targets ¥750 billion in net sales and 20% operating margin by FY2030.