ULVAC (6728) Q2 2026 earnings summary

Executive summary

• Orders received in H1 FY26/6 rose 17.8% year-over-year to ¥137.1 billion, exceeding both the initial plan and prior year, mainly due to strong performance in semiconductor and display-related businesses.

• Net sales for H1 were ¥123.9 billion, down 8.1% year-over-year but up ¥8.4 billion (7%) from plan, with profit items generally in line with the initial plan.

• Operating profit for H1 was ¥8.5 billion, down 44.9% year-over-year and ¥0.5 billion (-6%) from plan; profit attributable to owners of parent was ¥6.2 billion, down 40.5% year-over-year.

• The business environment was marked by global economic uncertainty, with mixed trends in the semiconductor, electronics, and display industries.

• Upward revision of full-year orders received forecast to ¥280.0 billion, the second-highest since listing, driven by record-high semiconductor and electronics orders.

Financial highlights

• H1 FY26/6 orders received rose 14% year-over-year to ¥137.1 billion, exceeding the plan by ¥17.1 billion.

• Gross profit decreased to ¥36.4 billion from ¥42.9 billion year-over-year, with gross profit margin declining to 29.4%.

• Operating profit margin fell to 6.8% from 11.4% year-over-year.

• Basic earnings per share declined to ¥125.95 from ¥211.33 year-over-year.

• Cash and cash equivalents at period-end were ¥86.7 billion, down ¥5.9 billion from the previous fiscal year-end.

Outlook and guidance

• Orders received forecast for FY26/6 raised to ¥280.0 billion (+¥30.0 billion from initial plan), with net sales maintained at ¥250.0 billion.

• Operating profit is projected at ¥28.5 billion (up 7.5%), and profit attributable to owners of parent at ¥20.0 billion (up 19.9%).

• Gross profit and operating profit margins expected to improve in H2, with no changes to earnings or dividend forecasts.

• Semiconductor and electronics orders expected to reach a record ¥94.0 billion, up 54% year-over-year.