Optorun (6235) Q2 2025 earnings summary

Executive summary

• 2Q FY2025 orders reached ¥8.8 billion, up 2% sequentially and 65% year-over-year, in line with expectations.

• Net sales for the six months ended June 30, 2025, declined 17.0% year-over-year to ¥13,850 million.

• Operating profit dropped 71.9% year-over-year to ¥1,107 million, and ordinary profit fell 74.8% to ¥1,112 million.

• Full-year sales forecast revised down to ¥33,000 million and operating profit to ¥3,800 million due to indirect delays from US-China tariffs, despite strong order intake.

• Smartphone-related orders surged, while automotive-related orders dropped temporarily; optical components demand rose due to data center growth.

Financial highlights

• 2Q FY2025 net sales: ¥5,945 million, up 10.5% year-over-year.

• 1H FY2025 net sales: ¥13,850 million, down 17% year-over-year; operating profit: ¥1,108 million, down 71.9%.

• FY2025 full-year forecast: net sales ¥33,000 million (+1.8%), operating profit ¥3,800 million (-42.2%), net profit ¥3,250 million (-48.8%).

• Dividend per share for FY2025 planned at ¥54, up ¥2 year-over-year.

• Cash and cash equivalents at period end were ¥24,877 million, down from ¥32,102 million a year earlier.

Outlook and guidance

• Full-year order intake forecast revised up to +20% year-over-year (previously +10%).

• Sales and profit guidance revised downward due to operational delays from mutual tariffs.

• Basic earnings per share for the full year is forecast at ¥81.53.

• Mid-term targets: operating profit margin ≥20%, ROE ≥10%, dividend payout ratio ≥30%.

• 2027 targets: revenue ¥50 billion, operating profit ¥10.8 billion (margin 21.6%), ROE 12%.