Komori
Earnings presentation268ARigaku Holdings CorporationElectric appliances and precision instruments

Financial Results Presentation Materials for the Third Quarter of the Fiscal Year Ending December 2026

In 3Q 2026, orders and revenue exceeded the year-earlier period, and the standalone quarterly operating margin also improved. However, cumulative 3Q operating profit declined due to strategic investments, personnel expenses and special factors, while the full-year earnings forecast was left unchanged.

Worth reading
72In focus
Scored from 5 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
12.7
Year-on-year change in revenue (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationThird 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¥606 100 million +2.0%3Q cumulative
Operating profit¥41 100 million -37.0%3Q cumulative
Ordinary income¥33 100 million -45.8%3Q cumulative, IFRS profit before tax
Net income¥24 100 million -42.0%3Q cumulative, attributable to owners of the parent
Gross Profit Margin56.1 % first 9 months
Operating profit margin6.8 % first 9 months
Results for the three months of the current quarter
Revenue
¥211 100 million+12.7%
Operating profit
¥15 100 million+84.2%
Profit before tax
¥12 100 million+94.8%
Quarterly profit
¥8 100 million+72.0%
Operating profit margin
7.4 %
yoy_pt2.9
Full-year earnings forecast
Revenue
¥1,010 100 million
Operating profit
¥194 100 million
Profit before tax
¥184 100 million
Profit for the period
¥125 100 million
Basic EPS
¥55.27
EBITDA
¥253 100 million
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.
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.
  • Improvement in gross margin from product and customer mix+6.8pt (contribution to operating margin)
  • Lower SG&A ratio due to higher sales+5.7pt
  • R&D Expenses-0.3pt
  • Personnel expenses-3.6pt
  • Other SG&A expenses, etc.-6.4pt
  • One-off factors-6.4pt
  • Foreign exchange loss+0.8pt
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • JPY/USD¥145
  • JPY/EURO¥165
  • US dollar exchange-rate sensitivity (revenue)¥2 100 million
  • US dollar exchange-rate sensitivity (operating profit)¥0.4 100 million
  • Euro exchange-rate sensitivity (revenue)¥0.7 100 million
  • Euro exchange-rate sensitivity (operating profit)¥0.3 100 million
New initiatives
  • Update to the development and launch roadmap for next-generation semiconductor process control equipment
  • Launch of inspection systems for advanced packaging, including the XHENA AX-3000
  • Joint development of the CD-SAXS-OCD Hybrid Engine with Onto
  • Concentration of development and sales resources on the semiconductor and electronic components sectors and demand for automation and autonomy
Key KPIsA metric the company considers important as a management benchmark.
  • Orders receivedYear-on-year +66% (3Q), +39% (3Q cumulative)
    Year on year against the same period last year+66%、+39%
  • Pipeline21 Year-on-year %
    Year on year against the same period last year+21%
  • EBITDA¥91 100 million 3Q cumulative
    Year on year against the same period last year-11.5%
  • EBITDA margin15.1 % first 9 months
    Year on year against the same period last year-2.3%
  • ROE
  • Equity ratio46.7 %FY26 3Q
Segment results
  • Multipurpose analytical instruments
    Revenue¥237 100 million (3Q cumulative) (YoY -10.3%)
    Operating profit¥8 100 million (3Q cumulative) (YoY -71.1%)
  • Semiconductor process control equipment
    Revenue¥183 100 million (3Q cumulative) (YoY +21.4%)
    Operating profit¥27 100 million (3Q cumulative) (YoY +16.4%)
  • Parts and Services
    Revenue¥186 100 million (3Q cumulative) (YoY +4.0%)
    Operating profit¥17 100 million (3Q cumulative) (YoY -47.1%)
Financial targets
ROE
Full-year forecast13.5 %
Adjusted ROE
Full-year forecast15 %
Net debt ÷ adjusted EBITDA
Actual results2 Times
Equity ratio
Actual results46.7 %
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
  • ¥6.5 100 million
    DetailsUS allowance for doubtful accounts
  • ¥7.5 100 million
    DetailsImpairment loss at European subsidiary MILabs
Market Size / Share
  • X-ray diffraction equipment (XRD)
  • Assumed SAM for next-generation semiconductor products$50M–$300M, target share of >30% to >70%
Orders received and order backlog
Orders receivedCumulative 3Q orders were up 39% year on year, with full-year growth expected to be approximately 30%
Order backlogAs of 31 December 2026, an increase of more than 30% year on year is expected
Capital expenditures
¥7.7 100 million full-year forecast
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredThird quarter of the fiscal year ending December 2026
Net Sales¥606 100 million (3Q cumulative) (YoY +2.0%)
Operating profit¥41 100 million (3Q cumulative) (YoY -37.0%)
Ordinary income¥33 100 million (3Q cumulative, IFRS profit before tax) (YoY -45.8%)
Net income¥24 100 million (3Q cumulative, attributable to owners of the parent) (YoY -42.0%)
Gross Profit Margin56.1 % (first 9 months)
Operating profit margin6.8 % (first 9 months)
Results for the three months of the current quarterRevenue ¥211 100 million (YoY +12.7%) / Operating profit ¥15 100 million (YoY +84.2%) / Profit before tax ¥12 100 million (YoY +94.8%) / Quarterly profit ¥8 100 million (YoY +72.0%) / Operating profit margin 7.4 %
Full-year earnings forecastRevenue ¥1,010 100 million / Operating profit ¥194 100 million / Profit before tax ¥184 100 million / Profit for the period ¥125 100 million / Basic EPS ¥55.27 / EBITDA ¥253 100 million / Operating profit margin 19.3 % / EBITDA margin 25.1 %
Self-assessment against the planSemiconductor process control equipment is progressing ahead of plan
Segment resultsSegment Multipurpose analytical instruments / Revenue ¥237 100 million (3Q cumulative) (YoY -10.3%) / Operating profit ¥8 100 million (3Q cumulative) (YoY -71.1%), Segment Semiconductor process control equipment / Revenue ¥183 100 million (3Q cumulative) (YoY +21.4%) / Operating profit ¥27 100 million (3Q cumulative) (YoY +16.4%), Segment Parts and Services / Revenue ¥186 100 million (3Q cumulative) (YoY +4.0%) / Operating profit ¥17 100 million (3Q cumulative) (YoY -47.1%)
Breakdown of Factors Affecting the ChangeFactors Improvement in gross margin from product and customer mix / Amount +6.8pt (contribution to operating margin), Factors Lower SG&A ratio due to higher sales / Amount +5.7pt, Factors R&D Expenses / Amount -0.3pt, Factors Personnel expenses / Amount -3.6pt, Factors Other SG&A expenses, etc. / Amount -6.4pt, Factors One-off factors / Amount -6.4pt, Factors Foreign exchange loss / Amount +0.8pt
Key KPIsIndicator Orders received / Value Year-on-year +66% (3Q), +39% (3Q cumulative) / Year on year against the same period last year +66%、+39%, Indicator Pipeline / Value 21 Year-on-year (%) / Year on year against the same period last year +21%, Indicator EBITDA / Value ¥91 100 million (3Q cumulative) / Year on year against the same period last year ¥-11.5 100 million (3Q cumulative), Indicator EBITDA margin / Value 15.1 % (first 9 months) / Year on year against the same period last year -2.3 % (first 9 months), Indicator ROE / Value Not disclosed / Year on year against the same period last year Not disclosed, Indicator Equity ratio / Value 46.7 %（FY26 3Q） / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookItem JPY/USD / Value ¥145, Item JPY/EURO / Value ¥165, Item US dollar exchange-rate sensitivity (revenue) / Value ¥2 100 million, Item US dollar exchange-rate sensitivity (operating profit) / Value ¥0.4 100 million, Item Euro exchange-rate sensitivity (revenue) / Value ¥0.7 100 million, Item Euro exchange-rate sensitivity (operating profit) / Value ¥0.3 100 million
Risk amount incorporated into the outlookDetails US allowance for doubtful accounts / Amount ¥6.5 100 million, Details Impairment loss at European subsidiary MILabs / Amount ¥7.5 100 million
Financial targetsROE Full-year forecast 13.5 % / Adjusted ROE Full-year forecast 15 % / Net debt ÷ adjusted EBITDA Actual results 2 Times / Equity ratio Actual results 46.7 %
Capital expenditures¥7.7 100 million (full-year forecast)
Orders received and order backlogOrders received Cumulative 3Q orders were up 39% year on year, with full-year growth expected to be approximately 30% / Order backlog As of 31 December 2026, an increase of more than 30% year on year is expected
Market Size / ShareMarket X-ray diffraction equipment (XRD) / Share Not disclosed, Market Assumed SAM for next-generation semiconductor products / Value $50M–$300M, target share of >30% to >70%
New initiativesUpdate to the development and launch roadmap for next-generation semiconductor process control equipment, Launch of inspection systems for advanced packaging, including the XHENA AX-3000, Joint development of the CD-SAXS-OCD Hybrid Engine with Onto, Concentration of development and sales resources on the semiconductor and electronic components sectors and demand for automation and autonomy
Items this document does not state (10)
Selling, general and administrative expensesProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesMedium-term management plan targetsAnnual DividendPayout ratioAcquisition of treasury sharesKey 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.

The quarterly revenue growth and improvement in operating margin were driven by high-margin semiconductor process control equipment projects, the absorption of SG&A expenses through higher sales, and improvements in pricing policy and product and customer mix. The decline in cumulative 3Q operating profit was due to higher R&D expenses and personnel expenses associated with ongoing strategic investments, as well as a US allowance for doubtful accounts and an impairment loss at a European subsidiary.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Financial Results Presentation Materials for the Third Quarter of the Fiscal Year Ending December 2026 | Rigaku Holdings Corporation (268A) timely disclosure | Komori