Optorun (6235) Q3 2026 earnings summary

Executive summary

• Q3 orders were ¥15.0bn, up 43.6% YoY and down 5.7% QoQ; backlog reached ¥51.3bn, up 89% YoY.

• Q3 sales rose 14% YoY to ¥11.2bn and operating income increased 9% to ¥1.9bn; 9M sales were ¥27,095m, up 14.3%, and operating profit was ¥2,976m, up 5.0%.

• FY2026 guidance was maintained as optical communications demand strengthened, with smartphone demand, equipment-part supply and FX remaining key uncertainties.

Financial highlights

• 9M orders rose 64% YoY to ¥45.7bn; net sales were ¥27,095m versus ¥23,710m, and operating profit was ¥2,976m versus ¥2,835m.

• 9M ordinary profit rose 141.5% to ¥6,248m and parent profit rose 146.3% to ¥5,086m, including ¥3,396m of equity-method profit.

• Q3 ordinary income and net income were ¥5.5bn and ¥5.1bn, respectively; Q3 equity-method investment income was ¥3.67bn.

• Q3 gross margin was 36.0%, down 0.4 percentage points YoY but up 3.7 points QoQ; yuan appreciation weighed on the YoY comparison.

• 9M non-operating income was ¥3,986m, including ¥3,396m share of profit from equity-accounted entities; foreign-exchange losses were ¥504m.

Outlook and guidance

• FY2026 guidance was unchanged: sales ¥38.2bn, operating income ¥6.2bn, ordinary income ¥7.4bn and parent profit ¥5.6bn; FX assumptions are ¥148/USD and ¥22/CNY.

• 9M progress against FY guidance was 71% for sales, 62% for operating income, 84% for ordinary income and 91% for parent profit.

• FY optical communications orders are forecast at ¥20bn, 5.6x the prior year, supported by data-center investment and adoption of 800G/1.6T transceivers.

• FY smartphone-related orders are targeted at ¥12bn, down 15% YoY; automotive-related orders are projected at ¥5bn, down 33%.