ULVAC (6728) Q4 2025 earnings summary

Executive summary

• Net sales for FY2025/6 were ¥251.2 billion, down 3.8% year-over-year, with gross profit margin at a record 32.0%.

• Orders decreased due to a slowdown in power device and battery investments, but net sales remained at the second-highest level since listing.

• Dividend per share set at ¥164, a record high, with a stable payout policy.

• The Value-Up Plan was launched, focusing on semiconductor electronics for sustainable growth and profitability through FY2031.

• Cash flows from operating activities increased to ¥34,811 million, and cash and cash equivalents rose to ¥92,609 million.

Financial highlights

• FY2025/6 net sales: ¥251.2 billion, down 4% year-over-year; gross profit: ¥79.9 billion, down 1%.

• Operating profit: ¥26.5 billion, down 11% year-over-year; operating margin: 10.6%.

• Profit attributable to owners: ¥16.7 billion, down 18% year-over-year; net margin: 6.6%.

• Equity-to-asset ratio improved to 59.6% from 56.7% year-over-year.

• Basic earnings per share was ¥338.74, down from ¥410.67 the previous year.

Outlook and guidance

• FY2026/6 net sales forecasted at ¥250.0 billion, with gross profit margin rising to 33.0%.

• Operating profit projected at ¥28.5 billion (+7% year-over-year); profit attributable to owners at ¥20.0 billion (+20%).

• Dividend per share to be maintained at ¥164.

• Value-Up Plan targets FY31/6 operating profit of ¥79 billion and margin of 22%.

• The company aims to secure cash inflow from operating activities and invest in R&D for growth drivers.