Tekscend Photomask (429A) Q3 2026 earnings summary

Executive summary

• Q3 FY2025 revenue rose 7.7% year-over-year to ¥96,234 million, driven by strong semiconductor demand for AI, data center, and cloud-related products, as well as ongoing miniaturization trends.

• Operating profit declined 9.2% YoY to ¥19,925 million due to higher depreciation from capital investments and one-time listing preparation fees.

• Profit attributable to owners surged 33.1% YoY to ¥19,003 million, mainly from lower income tax expenses and higher financial income, notably from gains on currency swaps.

• Total comprehensive income increased 56.8% YoY to ¥28,835 million.

• Revenue growth was robust in both JPY and USD terms, with a 10.4% YoY increase in USD.

Financial highlights

• Gross profit margin for Q3 was 31.2%; cumulative margin was 32.9%, with gross profit stable at ¥31,650 million.

• Adjusted EBITDA for Q3 was 34,930 MJPY, up 4.1% YoY; EBITDA margin was 35.9%, down 1.5 points YoY.

• Basic earnings per share rose to ¥201.57 from ¥147.94 YoY.

• Total assets increased to ¥216,578 million as of December 2025.

• Equity attributable to owners rose to ¥165,260 million, with the equity ratio improving to 76.3%.

Outlook and guidance

• Full-year revenue and operating profit are expected to align with the mid-term plan, with a revenue forecast of ¥125,291 million (up 6.2% YoY) and operating profit projected at ¥25,500 million (down 9.6% YoY).

• Profit before tax and attributable profit have exceeded initial targets due to currency swap gains, but the full-year forecast remains unchanged.

• Exchange rate assumption for FY2025 full-year forecast: 140 JPY/USD.

• Dividend forecast for the fiscal year ending March 31, 2026, is ¥54.39 per share, with no interim dividends.

• No changes to previously announced forecasts as of February 12, 2026.