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Financial results presentation268ARigaku Holdings CorporationElectrical Equipment and Precision Instruments

Earnings Presentation Materials for the First Quarter of the Fiscal Year Ending December 2026

In the first quarter of the fiscal year ending December 2026, semiconductor process control equipment and parts and services exceeded expectations, but revenue and profit declined year on year, mainly due to weakness in multipurpose analytical instruments. The company announced a capital and business alliance with Onto Innovation and left its full-year earnings forecast unchanged.

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Mixed performance
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27
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Conditional
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Contents of this document

Financial results presentationFirst quarter of the fiscal year ending December 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥179 100 million-13.0%
Operating profit¥6 100 million-77.8%
Net income¥3 100 million-82.8%
Gross Profit Margin54.2%
Operating profit margin3.5%
Results for the three months of the current quarter
Revenue¥17.9 billion
Operating profit¥600 million
Income before taxes¥400 million
Profit for the period¥300 million
EBITDA¥2 billion
Full-year earnings forecast
Revenue¥101.0 billion
Operating profit¥19.4 billion
Operating profit margin19.3%
Income before taxes¥18.4 billion
Profit for the period¥12.5 billion
Basic EPS¥55.27
EBITDA¥25.3 billion
EBITDA margin25.0%
Research and development costs¥8.5 billion
Capital expenditures¥7.7 billion
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Results exceeded expectations
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Lower gross margin due to higher semiconductor costs
    Impact-1.8pt
  • Higher SG&A ratio due to lower sales
    Impact-6.4pt
  • Research and development costs
    Impact-0.7pt
  • Other SG&A expenses, etc.
    Impact-0.9pt
  • Foreign exchange losses
    Impact-0.4pt
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
JPY/USD¥145.0 per US dollar
JPY/EURO¥165.0/EUR
Comparison basisCompared with the previous fiscal year using the same exchange rates
New initiatives
  • Onto Innovation plans to acquire a 27.0% stake in リガク
  • Capital and business alliance with Onto Innovation
  • Joint development of hybrid metrology solutions combining X-ray and optical technologies
  • End-to-end metrology and analysis solutions integrating AI analysis software
  • Expansion into inspection and metrology for advanced packaging
  • New three-year semiconductor metrology technology development program
Key KPIsA metric the company considers important as a management benchmark.
  • Basic EPS¥1.46
  • EBITDA¥20 100 million
    Year on year against the same period last year-49.6%
  • EBITDA margin11.3%
    Year on year against the same period last year-8.2pt
  • Pipeline+11% year on year
    Year on year against the same period last year+11%
  • Net debt ÷ adjusted EBITDA2.0x
  • Equity ratio47.9%
Segment results
  • Multi-purpose Analytical Instruments
    Revenue¥6.6 billion
    Year on year against the same period last year-27.7%
    Operating profit-¥0.2 billion
    Year-on-year operating profitN/A
  • Semiconductor Process Control Equipment
    Revenue¥5.3 billion
    Year on year against the same period last year-13.1%
    Operating profit¥500 million
    Year-on-year operating profit-64.0%
  • Parts and Services
    Revenue¥5.8 billion
    Year on year against the same period last year+13.2%
    Operating profit¥1 billion
    Year-on-year operating profit+76.2%
Medium-term management plan targets
Target fiscal yearFY2027
DetailsAim to achieve the medium-term management plan targets
Financial targets
ROEFY2026 forecast: 13.5%
Adjusted ROEFY2026 forecast: 15.0%
Equity ratioFY26 1Q 47.9%
Market Size / Share
  • Estimated total SAM of approximately $1 billion for new products, with a target share of more than 50%
  • Creation of a new market worth at least $300 million by 2030
  • Global No. 1 share in X-ray metrology equipment for semiconductor front-end processes
  • No. 2 global share and No. 1 domestic share in XRD
Number of employees
Number of EmployeesOnto Innovation: 1,615 employees
Capital expenditures
¥1 1 billion FY2026 Q1
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending December 2026
Net Sales¥179 100 million (YoY -13.0%)
Operating profit¥6 100 million (YoY -77.8%)
Net income¥3 100 million (YoY -82.8%)
Gross Profit Margin54.2%
Operating profit margin3.5%
Results for the three months of the current quarterRevenue ¥17.9 billion / Operating profit ¥600 million / Income before taxes ¥400 million / Profit for the period ¥300 million / EBITDA ¥2 billion
Full-year earnings forecastRevenue ¥101.0 billion / Operating profit ¥19.4 billion / Operating profit margin 19.3% / Income before taxes ¥18.4 billion / Profit for the period ¥12.5 billion / Basic EPS ¥55.27 / EBITDA ¥25.3 billion / EBITDA margin 25.0% / Research and development costs ¥8.5 billion / Capital expenditures ¥7.7 billion
Self-assessment against the planResults exceeded expectations
Segment resultsSegment Multi-purpose Analytical Instruments / Revenue ¥6.6 billion / Year on year against the same period last year -27.7% / Operating profit -¥0.2 billion / Year-on-year operating profit N/A, Segment Semiconductor Process Control Equipment / Revenue ¥5.3 billion / Year on year against the same period last year -13.1% / Operating profit ¥500 million / Year-on-year operating profit -64.0%, Segment Parts and Services / Revenue ¥5.8 billion / Year on year against the same period last year +13.2% / Operating profit ¥1 billion / Year-on-year operating profit +76.2%
Breakdown of Factors Affecting the ChangeFactors Lower gross margin due to higher semiconductor costs / Impact -1.8pt, Factors Higher SG&A ratio due to lower sales / Impact -6.4pt, Factors Research and development costs / Impact -0.7pt, Factors Other SG&A expenses, etc. / Impact -0.9pt, Factors Foreign exchange losses / Impact -0.4pt
Key KPIsIndicator Basic EPS / Value ¥1.46 / Year on year against the same period last year Not disclosed, Indicator EBITDA / Value ¥20 100 million / Year on year against the same period last year -49.6%, Indicator EBITDA margin / Value 11.3% / Year on year against the same period last year -8.2pt, Indicator Pipeline / Value +11% year on year / Year on year against the same period last year +11%, Indicator Net debt ÷ adjusted EBITDA / Value 2.0x / Year on year against the same period last year Not disclosed, Indicator Equity ratio / Value 47.9% / Year on year against the same period last year Not disclosed
Number of employeesNumber of Employees Onto Innovation: 1,615 employees
Assumptions Underlying the Business OutlookJPY/USD ¥145.0 per US dollar / JPY/EURO ¥165.0/EUR / Comparison basis Compared with the previous fiscal year using the same exchange rates
Medium-term management plan targetsTarget fiscal year FY2027 / Details Aim to achieve the medium-term management plan targets
Financial targetsROE FY2026 forecast: 13.5% / Adjusted ROE FY2026 forecast: 15.0% / Equity ratio FY26 1Q 47.9%
Capital expenditures¥1 1 billion (FY2026 Q1)
Market Size / ShareEstimated total SAM of approximately $1 billion for new products, with a target share of more than 50%, Creation of a new market worth at least $300 million by 2030, Global No. 1 share in X-ray metrology equipment for semiconductor front-end processes, No. 2 global share and No. 1 domestic share in XRD
New initiativesOnto Innovation plans to acquire a 27.0% stake in リガク, Capital and business alliance with Onto Innovation, Joint development of hybrid metrology solutions combining X-ray and optical technologies, End-to-end metrology and analysis solutions integrating AI analysis software, Expansion into inspection and metrology for advanced packaging, New three-year semiconductor metrology technology development program
Items this document does not state (11)
Ordinary incomeSelling, general and administrative expensesProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookAnnual DividendPayout ratioAcquisition of treasury sharesOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

In the first quarter, results benefited from capturing memory and logic demand for semiconductor process control equipment, as well as price increases and sales expansion initiatives for parts and services. However, sales of multipurpose analytical instruments declined, partly due to the impact of the Trump administration's policies in the United States. Higher semiconductor delivery costs and materials expenses, increased SG&A expenses, particularly R&D and personnel costs, and foreign exchange losses resulting from the sharp depreciation of the yen weighed on profit.

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Earnings Presentation Materials for the First Quarter of the Fiscal Year Ending December 2026 | Rigaku Holdings Corporation (268A) timely disclosure | Komori