Lasertec (6920) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 FY2025 were JPY 36.7 billion, down 22.3% year-over-year amid economic uncertainty and mixed semiconductor demand.

• Operating income reached JPY 15.9 billion, up 54.9% year-over-year but down 31.6% from the previous quarter.

• Net income was JPY 8.9 billion, a 16.0% increase year-over-year but a 49.1% decrease sequentially.

• Semiconductor-related product sales fell 38.5%, while service revenue surged 85.6% and other products grew 606.6% year-over-year.

• Services revenue hit a record JPY 9.9 billion in the quarter.

Financial highlights

• Gross profit for Q1 was JPY 21.1 billion, up 23.5% year-over-year, with a gross margin of 57.4%.

• Operating income rose to JPY 15.9 billion from JPY 10.3 billion, and ordinary income reached JPY 12.7 billion, up 16.5%.

• Net income per share was JPY 99.03, up from JPY 85.40 in the prior year.

• Comprehensive income declined 12.2% to JPY 6.8 billion due to negative foreign currency translation adjustments.

• R&D expenses were JPY 2.2 billion, representing 5.9% of sales.

Outlook and guidance

• Full-year FY2025 net sales forecast is JPY 240.0 billion, up 12.4% year-over-year.

• Operating income is projected at JPY 104.0 billion (+27.8%), with an OP margin of 43.3%.

• Net profit guidance is JPY 74.0 billion, up 25.3% year-over-year.

• Dividend forecast for FY2025 raised to JPY 288 per share, up from JPY 230 in FY2024.

• Mid-term business plan targets net sales of 400–500 billion yen and OP margin above 35% by FY2030.