JEOL (6951) Q3 2025 earnings summary

Executive summary

• Achieved record highs in sales, operating profit, ordinary profit, and net profit attributable to owners for the third quarter, with revenue for the nine months ended December 31, 2024, rising 27.6% year-over-year to ¥136,352 million.

• Operating income rose 98.4% to ¥26,297 million and net income attributable to shareholders increased 96.5% to ¥19,936 million.

• Growth was driven by robust demand in scientific/metrology and industrial equipment, aided by a weaker yen.

• Medical equipment sales declined slightly due to weak overseas demand.

Financial highlights

• Net sales reached ¥136.4 billion, up 27.6% year-over-year for 3Q YTD, with operating profit up 98.4% to ¥26.3 billion.

• Ordinary profit increased 86.7% to ¥26.5 billion; net profit nearly doubled to ¥20.0 billion.

• Gross margin improved as cost rate decreased from 53.0% to 50.7% year-over-year.

• EPS for the period was ¥390.00, compared to ¥198.64 in the prior year period.

• Total assets at period-end were ¥230,553 million, with net assets of ¥140,676 million and an equity ratio of 61.0%.

Outlook and guidance

• Full-year guidance remains unchanged: revenue ¥196,000 million (+12.4% YoY), operating income ¥33,000 million (+19.9%), net income attributable to shareholders ¥23,500 million (+8.3%), and EPS ¥460.07.

• Full-scale recovery in the multi-beam mask writer market is expected in the future.

• Demand for single beam mask writers remains strong, especially in China.

• Management notes that sales and profits tend to concentrate in the fourth quarter.

• Stable medical equipment demand outside Japan, but sales/orders in China impacted by "Buy China" policy.