YASKAWA Electric (6506) Q3 2025 earnings summary

Executive summary

• Nine-month FY2024 revenue declined 7.2% year-over-year to ¥393.7bn, mainly due to lower Motion Control sales after prior high order backlogs.

• Operating profit dropped 26.3% year-over-year to ¥34.3bn, despite cost controls.

• Profit attributable to owners of parent rose 30.7% to ¥45.5bn, driven by a one-time gain from the transfer and revaluation of shares in an equity-method affiliate.

• Comprehensive income decreased 15.1% year-over-year to ¥42.5bn.

• Orders decreased 6% year-over-year and 5% sequentially in Q3, reflecting temporary order adjustments and shorter delivery times.

Financial highlights

• Revenue for the nine months ended November 2024: ¥393.7bn (down ¥30.6bn, -7.2% year-over-year).

• Operating profit: ¥34.3bn (down ¥12.2bn, -26.3% year-over-year).

• Profit before tax: ¥63.0bn (up ¥14.6bn, +30.1% year-over-year).

• Basic EPS increased to ¥174.22 from ¥133.05 year-over-year.

• Full-year FY2024 revenue forecast revised to ¥548.0bn (down 4.8% from FY2023); operating profit forecast at ¥58.0bn (down 12.4%).

Outlook and guidance

• Full-year forecasts revised downward due to weaker-than-expected orders, impacted by semiconductor investment adjustments in South Korea and a wait-and-see approach in the U.S. during the presidential election.

• Profit attributable to owners of parent projected at ¥63.0bn (+24.3% year-over-year); EPS forecast at ¥241.69.

• Dividend forecast remains unchanged at ¥68 per share.

• Forex assumptions for Q4 revised to 1USD = 155 JPY, 1EUR = 160 JPY, 1CNY = 21.5 JPY.