Lasertec (6920) Q2 2025 earnings summary

Executive summary

• Achieved record quarterly and half-year sales and profits in FY2025, with net sales of JPY 92.2 billion in Q2 and JPY 128.97 billion for H1, driven by strong semiconductor and service demand, especially in generative AI fields.

• Operating income doubled year-over-year to JPY 63.7 billion for H1, and net income surged 137.2% in Q2 and 95.1% for H1.

• Launched two new EUV mask inspection products and began operations at Fab-4B, expanding production capacity.

• Despite economic uncertainty and sluggish consumer electronics, generative AI investment supported growth.

Financial highlights

• Net sales rose 93.4% year-over-year in Q2 to JPY 92.2 billion; H1 net sales reached JPY 128.97 billion (+35.8% YoY).

• Operating income in Q2 was JPY 47.7 billion (+122.3% YoY); H1 operating income was JPY 63.7 billion (+100.5% YoY).

• Net income in Q2 was JPY 34.4 billion (+137.2% YoY); H1 net income was JPY 43.3 billion (+95.1% YoY).

• Cash inflow from operating activities was JPY 7.2 billion in Q2 and JPY 6.0 billion for H1; cash on hand at period-end was JPY 26.8 billion.

• Gross profit for H1 was JPY 74.4 billion, up from JPY 43.8 billion YoY.

Outlook and guidance

• FY2025 full-year forecast maintained: net sales JPY 240 billion (+12.4% YoY), operating income JPY 104 billion (+27.8% YoY), net profit JPY 74 billion (+25.3% YoY), EPS 820.52 yen.

• Dividend forecast for FY2025 raised to 288 yen per share.

• Orders for mask-related products expected to decrease due to revised investment plans, but HBM-related demand remains strong.