Worth reading
59In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
19.1
% (year-on-year change in revenue for the fiscal year ending March 2027)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal year ending March 2026 (April 2025–March 2026)10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales2,351 Hundreds of millions of yen-1.6%
Operating profit418 Hundreds of millions of yen-18.5%
Ordinary income¥407 100 million -19.8%profit before tax
Net income301 Hundreds of millions of yen-16.4%
Gross Profit Margin
Rate41.2%
Year-on-year change (points)-1.4 percentage points
Operating profit margin
Rate17.8%
Year-on-year change (points)-3.7 percentage points
Results for the three months of the current quarter
Revenue¥62.0 billion
Operating profit¥9.3 billion
Profit before quarterly income taxes¥9.2 billion
Profit for the quarter¥7.3 billion
Full-year earnings forecast
Reporting periodFiscal year ending March 2027
Revenue
2,800 Hundreds of millions of yen
Operating profit
545 Hundreds of millions of yen
Profit before tax
534 Hundreds of millions of yen
Profit for the period
388 Hundreds of millions of yen
Adjusted operating profit
605 Hundreds of millions of yen
Adjusted net income
429 Hundreds of millions of yen
Annual Dividend
¥47
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue and profit both exceeded the forecasts revised when the second-quarter results were announced.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Revenue for the fiscal year ended March 2026Equipment for customers worldwide: -¥6.0 billion; equipment for local Chinese customers: -¥18.3 billion; services: +¥20.5 billion
Adjusted operating profit for the fiscal year ended March 2026Gross profit: -¥4.9 billion; selling, general and administrative expenses: -¥4.6 billion; other items, including adjustments: -¥0.6 billion
Revenue for the fiscal year ending March 2027Equipment for customers worldwide: +¥44.3 billion; equipment for local Chinese customers: -¥2.2 billion; services: +¥2.8 billion
Adjusted operating profit for the fiscal year ending March 2027Gross profit: +¥20.8 billion; selling, general and administrative expenses: -¥7.9 billion; other items, including adjustments: +¥0 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Year-on-year growth rate of the WFE market in 2026+15% or so
Global WFE market size in 2030US$192.0B
New initiatives
- From the fiscal year ending March 2027, the business classification will change, with 200mm equipment sales, used equipment sales and upgrade modifications changed from their current classification to the Equipment business
- Investment associated with the establishment of a demonstration center in the United States
Key KPIsA metric the company considers important as a management benchmark.
- Service revenue ratio40% (full-year fiscal year ended March 2026)Year on year against the same period last yearUp from 31%
- Equipment revenue ratio60% (full-year fiscal year ended March 2026)Year on year against the same period last yearDown from 69%
- Revenue ratio from local Chinese customers26% (fourth quarter of the fiscal year ended March 2026)Year on year against the same period last yearDown from 41%
- High-value-added product ratio71% (forecast for the fiscal year ending March 2027)Year on year against the same period last yearDown from 72%
- Share of batch ALD equipment>80%（CY25）Year on year against the same period last yearUp from >70%
- Share of single-wafer treatment equipment40～50%（CY25）Year on year against the same period last yearDown from >50%
Financial targets
Equity ratio61.0% (actual at the end of the fiscal year ended March 2026)
Market Size / Share
CY25 batch deposition equipment market: US$1.9B; RTP, oxidation/diffusion and treatment equipment market: US$2.8B. Batch ALD equipment market: US$1.0B, with the company's share at >80%. Plasma Gate Modification Tools market: US$0.1B, with the company's share at 40–50%.Capital expenditures
¥169 100 million actual for the fiscal year ended March 2026
Annual Dividend
Annual dividend per share¥37 (actual for the fiscal year ended March 2026), ¥47 (forecast for the fiscal year ending March 2027)
Interim and Year-End BreakdownFiscal year ended March 2026: ¥18 interim, ¥19 year-end. Forecast for the fiscal year ending March 2027: ¥23 interim, ¥24 year-end
Payout ratio
25.6% forecast for the fiscal year ending March 2027 (based on adjusted net income)| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026 (April 2025–March 2026) |
| Net Sales | 2,351 Hundreds of millions of yen (YoY -1.6%) |
| Operating profit | 418 Hundreds of millions of yen (YoY -18.5%) |
| Ordinary income | ¥407 100 million (profit before tax) (YoY -19.8%) |
| Net income | 301 Hundreds of millions of yen (YoY -16.4%) |
| Gross Profit Margin | Rate 41.2% / Year-on-year change (points) -1.4 percentage points |
| Operating profit margin | Rate 17.8% / Year-on-year change (points) -3.7 percentage points |
| Results for the three months of the current quarter | Revenue ¥62.0 billion / Operating profit ¥9.3 billion / Profit before quarterly income taxes ¥9.2 billion / Profit for the quarter ¥7.3 billion |
| Full-year earnings forecast | Reporting period Fiscal year ending March 2027 / Revenue 2,800 Hundreds of millions of yen / Operating profit 545 Hundreds of millions of yen / Profit before tax 534 Hundreds of millions of yen / Profit for the period 388 Hundreds of millions of yen / Adjusted operating profit 605 Hundreds of millions of yen / Adjusted net income 429 Hundreds of millions of yen / Annual Dividend ¥47 |
| Self-assessment against the plan | Revenue and profit both exceeded the forecasts revised when the second-quarter results were announced. |
| Breakdown of Factors Affecting the Change | Revenue for the fiscal year ended March 2026 Equipment for customers worldwide: -¥6.0 billion; equipment for local Chinese customers: -¥18.3 billion; services: +¥20.5 billion / Adjusted operating profit for the fiscal year ended March 2026 Gross profit: -¥4.9 billion; selling, general and administrative expenses: -¥4.6 billion; other items, including adjustments: -¥0.6 billion / Revenue for the fiscal year ending March 2027 Equipment for customers worldwide: +¥44.3 billion; equipment for local Chinese customers: -¥2.2 billion; services: +¥2.8 billion / Adjusted operating profit for the fiscal year ending March 2027 Gross profit: +¥20.8 billion; selling, general and administrative expenses: -¥7.9 billion; other items, including adjustments: +¥0 billion |
| Key KPIs | Indicator name Service revenue ratio / Value 40% (full-year fiscal year ended March 2026) / Year on year against the same period last year Up from 31%, Indicator name Equipment revenue ratio / Value 60% (full-year fiscal year ended March 2026) / Year on year against the same period last year Down from 69%, Indicator name Revenue ratio from local Chinese customers / Value 26% (fourth quarter of the fiscal year ended March 2026) / Year on year against the same period last year Down from 41%, Indicator name High-value-added product ratio / Value 71% (forecast for the fiscal year ending March 2027) / Year on year against the same period last year Down from 72%, Indicator name Share of batch ALD equipment / Value >80%（CY25） / Year on year against the same period last year Up from >70%, Indicator name Share of single-wafer treatment equipment / Value 40～50%（CY25） / Year on year against the same period last year Down from >50% |
| Assumptions Underlying the Business Outlook | Year-on-year growth rate of the WFE market in 2026 +15% or so / Global WFE market size in 2030 US$192.0B |
| Financial targets | Equity ratio 61.0% (actual at the end of the fiscal year ended March 2026) |
| Annual Dividend | Annual dividend per share ¥37 (actual for the fiscal year ended March 2026), ¥47 (forecast for the fiscal year ending March 2027) / Interim and Year-End Breakdown Fiscal year ended March 2026: ¥18 interim, ¥19 year-end. Forecast for the fiscal year ending March 2027: ¥23 interim, ¥24 year-end |
| Payout ratio | 25.6% forecast for the fiscal year ending March 2027 (based on adjusted net income) |
| Capital expenditures | ¥169 100 million (actual for the fiscal year ended March 2026) |
| Market Size / Share | CY25 batch deposition equipment market: US$1.9B; RTP, oxidation/diffusion and treatment equipment market: US$2.8B. Batch ALD equipment market: US$1.0B, with the company's share at >80%. Plasma Gate Modification Tools market: US$0.1B, with the company's share at 40–50%. |
| New initiatives | From the fiscal year ending March 2027, the business classification will change, with 200mm equipment sales, used equipment sales and upgrade modifications changed from their current classification to the Equipment business, Investment associated with the establishment of a demonstration center in the United States |
Items this document does not state (11)
Selling, general and administrative expensesProgress against full-year forecastSegment resultsUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition 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.For the fiscal year ended March 2026, the factors behind the declines in revenue and profit were the normalization of equipment sales for DRAM applications to local Chinese customers, which had been concentrated in the previous fiscal year, lower production utilization, changes in the product mix, and higher selling, general and administrative expenses. For the fiscal year ending March 2027, the company cites aggressive capital investment by device manufacturers and its technological advantage in equipment for advanced devices as the drivers of higher revenue and profit.
How to read this page
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