PILLAR (6490) Q4 2025 earnings summary

Executive summary

• Sales for FY2025 declined 1.1% year-over-year to ¥57,988 million, with operating income down 20.2% to ¥11,335 million and net income down 23.0% to ¥8,299 million.

• Comprehensive income dropped 46.6% year-over-year to ¥7,355 million.

• Electronic Equipment Business saw both sales and profits decrease due to sluggish demand and prolonged inventory adjustments, while Industrial Equipment Business achieved record sales but lower profits.

• The company maintains a strong financial position with an equity ratio of 75.3% and continues to invest in capacity expansion and R&D.

Financial highlights

• Operating income margin fell from 24.2% to 19.5% year-over-year.

• Gross profit decreased to ¥22,424 million from ¥24,192 million year-over-year.

• Earnings per share were ¥355.82, down from ¥462.57 the previous year.

• Free cash flow for FY2024 was ¥7,376 million, recovering from a negative previous year.

• Cash and cash equivalents at year-end increased to ¥21,883 million from ¥17,878 million.

Outlook and guidance

• FY2026 sales are forecast to decline slightly to ¥57,500 million, with operating income expected to drop 9.1% to ¥10,300 million and net income to ¥7,200 million.

• Earnings per share forecasted at ¥308.68.

• Electronic Equipment Business sales are projected to decrease 5.7%, while Industrial Equipment Business sales are expected to rise 9.4%.

• Dividend forecast for FY2026 is ¥105 per share, with a planned share buyback of up to ¥2 billion.