Ushio (6925) Q3 2026 earnings summary

Executive summary

• Net sales for the first nine months of FY2025 declined 0.9% year-over-year to ¥126.9 billion, but operating profit rose 4.6% to ¥7.7 billion, while ordinary profit fell 15.1% to ¥8.9 billion.

• Profit attributable to owners of parent dropped 29.8% to ¥4.0 billion, while comprehensive income surged 92.8% to ¥18.1 billion.

• Profitability improved through structural reforms and action plans, offsetting higher forward investments in lithography equipment.

• The company advanced its growth strategy, revamping its business portfolio and increasing investments in advanced packaging and lithography equipment.

• The global economic environment remained uncertain due to tariffs, exchange rates, and geopolitical risks, impacting business segments differently.

Financial highlights

• Net sales for 9M FY2025 were ¥126.9 billion, down 0.9% year-over-year.

• Operating profit rose 4.6% to ¥7.7 billion, with an operating margin of 6.1%.

• Profit attributable to owners of parent fell 29.8% to ¥4.0 billion, mainly due to extraordinary losses from business restructuring.

• EPS decreased to ¥47.25, down 18.9% year-over-year.

• Gross profit for the nine months was ¥46.6 billion, with a gross margin of 36.7%.

Outlook and guidance

• Full-year FY2025 forecasts remain unchanged: net sales of ¥170.0 billion (down 4.3% YoY), operating profit of ¥10.0 billion (up 13.3% YoY), and EPS of ¥79.45.

• Q4 is expected to see some impact from additional business structure improvement initiatives.

• DLT system sales postponed to FY2027, with full-scale ramp-up anticipated then.

• Dividend forecast unchanged at ¥70 per share for the year.