YASKAWA Electric (6506) Q2 2025 earnings summary

Executive summary

• Revenue for FY2024 1H was ¥261.6bn, down 9.5% year-over-year, with operating profit at ¥22.9bn, down 30.7%, and profit attributable to owners at ¥17.9bn, down 26.3%.

• Declines were mainly due to sluggish demand in China, Europe, and semiconductors, despite firm automobile demand.

• Comprehensive income dropped 70% year-over-year to ¥10.8bn.

Financial highlights

• Revenue: ¥261.6bn (down ¥27.4bn, -9.5% year-over-year).

• Operating profit: ¥22.9bn (down ¥10.1bn, -30.7% year-over-year).

• Profit before tax: ¥24.4bn (down ¥10.1bn, -29.3% year-over-year).

• Basic EPS was ¥68.29, down from ¥92.66 in the prior year period.

• Gross margin for the first half was ¥93.2bn, down from ¥103.6bn year-over-year.

Outlook and guidance

• Full-year revenue forecast revised down to ¥553.0bn (down 3.9% from FY2023), reflecting slow recovery in semiconductors and China.

• Operating profit forecast lowered to ¥64.0bn (down 8.6% from previous forecast).

• Net profit forecast raised to ¥64bn due to gains on sale and valuation of investments in affiliates (~¥24bn).

• EPS forecast for the year is ¥245.42, up from previous guidance.

• Annual dividend forecast raised to 68 yen per share, up 4 yen year-over-year (47.3% payout ratio).