ROHM (6963) Q4 2026 earnings summary

Executive summary

• FY2025 net sales rose 7.3% to ¥481,148 million; operating profit recovered to ¥10,864 million from a ¥40,061 million loss, while net loss was ¥158,424 million, mainly from SiC impairment.

• Structural reforms and lower fixed costs supported profitability, while gold prices and geopolitical tensions pressured costs.

Financial highlights

• FY2025 ordinary profit was ¥19,222 million versus a ¥29,698 million loss; EBITDA rose 56.6% to ¥67,890 million.

• Sales rose ¥32.7bn, including ¥35.6bn organic growth offset by ¥2.9bn of forex impact; automotive contributed ¥13.1bn and consumer ¥12.1bn of growth.

• Organic fixed costs fell ¥31.3bn, including ¥29bn from lower depreciation and SiC R&D expense; a depreciation-method change reduced expense by ¥17,125 million.

• FY2025 impairment losses totaled ¥193.6bn, primarily on SiC business fixed assets; profit attributable to owners was a loss of ¥158,424 million.

Outlook and guidance

• FY2026 targets net sales of ¥510bn, operating profit of ¥30bn and net profit of ¥29bn; sales growth is forecast at ¥28.9bn, including ¥24bn organic growth.

• The FY2026 operating-profit bridge includes a ¥10bn net negative variable-cost impact, ¥0.3bn positive fixed-cost impact and ~¥15bn of structural-reform benefits, offset by rising expenses.

• Three-year targets include net sales above ¥500bn, operating margin above 20%, ROE above 9% and operating profit of ¥100bn.

• FY2026 SiC sales target exceeds ¥50bn; device and module sales are expected to grow more than 55% as substrate sales decline.