ULVAC (6728) Q3 2025 earnings summary

Executive summary

• Q3 FY2025/6 saw declines in net sales and profit due to external environment changes, but gross profit margin improved to 33.3%, up 1.2 pts year-over-year.

• Net sales for the nine months ended March 31, 2025, rose 1.4% year-over-year to ¥187,726 million, while operating profit increased 1.7% to ¥20,752 million.

• Profit attributable to owners declined 1.4% year-over-year to ¥13,108 million, and orders received dropped 13.6% to ¥163,915 million.

• Full-year forecast revised downward following a decrease in order intake, especially in EV-related businesses.

• Current mid-term management plan discontinued; a new "Value-Up Plan" will launch in FY2026/6 to drive sustainable growth and focus on semiconductors and electronics.

Financial highlights

• Q3 net sales: ¥52.9B, down from ¥73.9B in Q2; 9-month net sales: ¥187.7B, up 1% year-over-year.

• Q3 gross profit: ¥17.6B; 9-month gross profit: ¥60.5B, up 5% year-over-year.

• Q3 operating profit: ¥5.4B; 9-month operating profit: ¥20.8B, up 2% year-over-year.

• Comprehensive income fell sharply to ¥6,276 million from ¥17,085 million year-over-year, mainly due to negative foreign currency translation adjustments.

• Cash and cash equivalents at period-end rose to ¥94,140 million, up ¥9,599 million from the previous fiscal year-end.

Outlook and guidance

• FY2025/6 full-year net sales forecast revised to ¥250B (down 9% from previous forecast).

• Operating profit forecast revised to ¥27B (down 22% from previous forecast).

• Profit attributable to owners forecast at ¥17B (down 26% from previous forecast).

• Basic earnings per share for the full year projected at ¥345.05; dividend forecast unchanged at ¥164 per share.

• Management notes significant uncertainty in global markets, especially in semiconductors, electronics, and FPD.