JEOL (6951) Q2 2025 earnings summary

Executive summary

• Revenue for the six months ended September 2024 rose 26.9% year-over-year to ¥87,234 million, with operating income up 90.8% to ¥15,817 million and net income attributable to shareholders up 45.2% to ¥10,916 million.

• Growth was driven by strong demand in scientific and industrial equipment, while medical equipment sales declined due to weak overseas performance.

Financial highlights

• Operating income margin improved significantly, with operating income at ¥15,817 million versus ¥8,291 million a year earlier.

• Net income per share increased to ¥213.60 from ¥147.16 year-over-year.

• Total assets at September 30, 2024, were ¥229,707 million, with net assets of ¥131,642 million and an equity ratio of 57.3%.

• Cash and equivalents increased by ¥7,856 million to ¥37,663 million at period end.

Outlook and guidance

• Full-year revenue forecast revised upward to ¥196,000 million (up 12.4% year-over-year), with operating income projected at ¥33,000 million (up 19.9%) and net income at ¥23,500 million (up 8.3%).

• Earnings and dividends guidance were both revised, with a full-year dividend forecast of ¥92 per share.