Komori
Financial results presentation268ARigaku Holdings CorporationElectrical Equipment and Precision Instruments

Financial Results Briefing Materials for the Second Quarter of the Fiscal Year Ending December 2026

In the first half of FY2026, increased revenue from semiconductor process control equipment limited the decline in consolidated sales, while higher costs and strategic investments, including R&D and personnel expenses, led to a significant decrease in profit. The full-year forecast remains unchanged, with a recovery expected in the second half driven by higher volumes, price increases and the impact of new products.

Worth reading
61In focus
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
-32
¥100 million (year-on-year decrease in first-half operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationSecond quarter of the fiscal year ending December 2026 (first half)10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥395 100 million -2.9%first half
Operating profit¥25 100 million -54.9%first half
Net income¥16 100 million -56.9%first half; interim profit
Operating profit margin6.5 % first half
Gross Profit MarginDown 7.5 percentage points year on year (stated as an explanation of the operating margin; the actual gross margin is Not disclosed)
Results for the three months of the current quarter
Revenue
216 Hundreds of millions of yen+7.4%
Operating profit
19 Hundreds of millions of yen-32.4%
Income before taxes
16 Hundreds of millions of yen-39.6%
Quarterly profit
12 Hundreds of millions of yen-30.2%
Operating profit margin
9 %
Year-on-year change in percentage points-5.3
Full-year earnings forecast
Revenue
1,010 Hundreds of millions of yen
Operating profit
194 Hundreds of millions of yen
Income before taxes
184 Hundreds of millions of yen
Profit for the period
125 Hundreds of millions of yen
Basic EPS
¥55.27
EBITDA
253 Hundreds of millions of yen
Operating profit margin
19.3 %
EBITDA margin
25.1 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The first half was broadly in line with the plan. Semiconductor process control equipment is progressing ahead of plan.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year-on-year change in first-half operating marginGross margin -1.0 pt; higher SG&A ratio due to lower sales -1.4 pt; R&D expenses -0.9 pt; personnel expenses -4.2 pt; other SG&A expenses, etc. -0.0 pt; foreign exchange loss +0.0 pt
Year-on-year change in Q2 operating marginGross margin -0.2 pt; lower SG&A ratio due to higher sales +3.3 pt; R&D expenses -1.1 pt; personnel expenses -3.5 pt; distributor commissions -1.3 pt; other SG&A expenses, etc. -0.7 pt; foreign exchange loss +0.3 pt
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
JPY/USD
¥145 /US$
JPY/EURO
165 JPY/EUR
Sensitivity to US dollar exchange rates
RevenueApproximately ¥200 million
Operating profitApproximately ¥40 million
Sensitivity to euro exchange rates
RevenueApproximately ¥70 million
Operating profitApproximately ¥30 million
New initiatives
  • Capital and business alliance with ONTO Innovation scheduled to close in the second half
  • RTC-China (Shanghai) scheduled to open during FY2026
  • Development and launch of strategic products for next-generation semiconductors
  • Start of joint development of the CD-SAXS-OCD Hybrid Engine
Key KPIsA metric the company considers important as a management benchmark.
  • Q2 order growth rate (consolidated)>50
    Year on year against the same period last yearMore than +50%
  • First-half order growth rate (consolidated)>25
    Year on year against the same period last yearMore than +25%
  • Pipeline growth rate>35
    Year on yearMore than +35%
  • First-half order growth rate for semiconductor process control equipment86 %
    Year on year against the same period last year+86%
  • New JEP FY26 projects commenced5 Projects
  • Estimated SAM for strategic products$10 100 million
  • Target share for strategic products50 Over %
Segment results
Multi-purpose Analytical Instruments
Revenue
150 Hundreds of millions of yen-17.1%
Operating profit
0 Hundreds of millions of yen-98.6%
Semiconductor Process Control Equipment
Revenue
127 Hundreds of millions of yen+18.2%
Operating profit
19 Hundreds of millions of yen-19.0%
Parts and Services
Revenue
116 Hundreds of millions of yen-0.5%
Operating profit
16 Hundreds of millions of yen-22.7%
Medium-term management plan targets
Revenue growthUnderlying growth of +9% company-wide, +4% for multipurpose analytical instruments and +21% for semiconductor process control equipment (initial guidance for the year)
2030 revenue targetTargeting revenue of ¥100 billion in 2030
Target share for strategic products50% or higher
Market Size / Share
X-ray Metrology MarketRigaku expanded its share and maintained its No. 1 position (figures of 498 and 532 shown for market size, etc.)
Film and Materials Metrology MarketRigaku increased its share to take the No. 1 position
Estimated SAM for strategic productsApproximately US$1 billion
Capital expenditures
¥29 100 million first half
Annual Dividend
Interim Dividend
¥9.5
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredSecond quarter of the fiscal year ending December 2026 (first half)
Net Sales¥395 100 million (first half) (YoY -2.9%)
Operating profit¥25 100 million (first half) (YoY -54.9%)
Net income¥16 100 million (first half; interim profit) (YoY -56.9%)
Gross Profit MarginDown 7.5 percentage points year on year (stated as an explanation of the operating margin; the actual gross margin is Not disclosed)
Operating profit margin6.5 % (first half)
Results for the three months of the current quarterRevenue 216 Hundreds of millions of yen (YoY +7.4%) / Operating profit 19 Hundreds of millions of yen (YoY -32.4%) / Income before taxes 16 Hundreds of millions of yen (YoY -39.6%) / Quarterly profit 12 Hundreds of millions of yen (YoY -30.2%) / Operating profit margin 9 %
Full-year earnings forecastRevenue 1,010 Hundreds of millions of yen / Operating profit 194 Hundreds of millions of yen / Income before taxes 184 Hundreds of millions of yen / Profit for the period 125 Hundreds of millions of yen / Basic EPS ¥55.27 / EBITDA 253 Hundreds of millions of yen / Operating profit margin 19.3 % / EBITDA margin 25.1 %
Self-assessment against the planThe first half was broadly in line with the plan. Semiconductor process control equipment is progressing ahead of plan.
Segment resultsMulti-purpose Analytical Instruments Revenue 150 Hundreds of millions of yen (YoY -17.1%) / Operating profit 0 Hundreds of millions of yen (YoY -98.6%) / Semiconductor Process Control Equipment Revenue 127 Hundreds of millions of yen (YoY +18.2%) / Operating profit 19 Hundreds of millions of yen (YoY -19.0%) / Parts and Services Revenue 116 Hundreds of millions of yen (YoY -0.5%) / Operating profit 16 Hundreds of millions of yen (YoY -22.7%)
Breakdown of Factors Affecting the ChangeYear-on-year change in first-half operating margin Gross margin -1.0 pt; higher SG&A ratio due to lower sales -1.4 pt; R&D expenses -0.9 pt; personnel expenses -4.2 pt; other SG&A expenses, etc. -0.0 pt; foreign exchange loss +0.0 pt / Year-on-year change in Q2 operating margin Gross margin -0.2 pt; lower SG&A ratio due to higher sales +3.3 pt; R&D expenses -1.1 pt; personnel expenses -3.5 pt; distributor commissions -1.3 pt; other SG&A expenses, etc. -0.7 pt; foreign exchange loss +0.3 pt
Key KPIsIndicator name Q2 order growth rate (consolidated) / Value >50 / Year on year against the same period last year More than +50%, Indicator name First-half order growth rate (consolidated) / Value >25 / Year on year against the same period last year More than +25%, Indicator name Pipeline growth rate / Value >35 / Year on year More than +35%, Indicator name First-half order growth rate for semiconductor process control equipment / Value 86 % / Year on year against the same period last year +86%, Indicator name New JEP FY26 projects commenced / Value 5 Projects / Year on year against the same period last year Not disclosed, Indicator name Estimated SAM for strategic products / Value $10 100 million / Year on year against the same period last year Not disclosed, Indicator name Target share for strategic products / Value 50 Over % / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookJPY/USD ¥145 /US$ / JPY/EURO 165 JPY/EUR / Sensitivity to US dollar exchange rates Revenue Approximately ¥200 million / Operating profit Approximately ¥40 million / Sensitivity to euro exchange rates Revenue Approximately ¥70 million / Operating profit Approximately ¥30 million
Medium-term management plan targetsRevenue growth Underlying growth of +9% company-wide, +4% for multipurpose analytical instruments and +21% for semiconductor process control equipment (initial guidance for the year) / 2030 revenue target Targeting revenue of ¥100 billion in 2030 / Target share for strategic products 50% or higher
Annual DividendInterim Dividend ¥9.5 / Year-end dividend Not disclosed / Annual Dividend Not disclosed
Capital expenditures¥29 100 million (first half)
Market Size / ShareX-ray Metrology Market Rigaku expanded its share and maintained its No. 1 position (figures of 498 and 532 shown for market size, etc.) / Film and Materials Metrology Market Rigaku increased its share to take the No. 1 position / Estimated SAM for strategic products Approximately US$1 billion
New initiativesCapital and business alliance with ONTO Innovation scheduled to close in the second half, RTC-China (Shanghai) scheduled to open during FY2026, Development and launch of strategic products for next-generation semiconductors, Start of joint development of the CD-SAXS-OCD Hybrid Engine
Items this document does not state (12)
Ordinary incomeSelling, general and administrative expensesProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsPayout 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 half, the gross margin for semiconductor process control equipment declined due to higher costs, including special factors in Q1, foreign exchange effects and upfront investments, while increases in R&D and personnel expenses from ongoing strategic investments also weighed on operating profit. In multipurpose analytical instruments, the downward trend in revenue in the academic sector has continued, delaying the recovery in sales compared with the initial plan for the year.

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Financial Results Briefing Materials for the Second Quarter of the Fiscal Year Ending December 2026 | Rigaku Holdings Corporation (268A) timely disclosure | Komori