Ushio (6925) Q1 2025 earnings summary

Executive summary

• Q1 FY2024 net sales decreased 4.4% year-over-year to ¥37.5 billion, with operating profit down 83.3% to ¥0.3 billion and profit attributable to owners down 83.4% to ¥0.2 billion, but results exceeded internal targets after adjusting for one-time costs.

• Comprehensive income dropped 54.4% year-over-year to ¥7,311 million, reflecting challenging market and currency conditions.

• Business selection, prioritization, and ongoing growth investments supported performance.

• Share buybacks are progressing, with about 20% completed as of July 31, 2024.

Financial highlights

• Gross profit declined to ¥13,965 million from ¥14,488 million year-over-year.

• Ordinary profit decreased 48.4% year-over-year to ¥1,459 million.

• EPS fell to ¥2.92, down 81.0% year-over-year.

• Operating margin was 0.9%, down from 5.2% a year earlier.

• Total assets increased to ¥339,337 million, while net assets decreased to ¥235,253 million, with an equity ratio of 69.3%.

Outlook and guidance

• FY2024 forecasts remain unchanged: net sales ¥175.0 billion, operating profit ¥5.0 billion, EPS ¥46.79.

• Anticipate recovery in lithography equipment sales and semiconductor market from H2 FY2024.

• Dividend floor set at ¥70 per share for FY2024–FY2026.