Worth reading
88Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
21.4
% (increase in the full-year revenue forecast from the previous forecast)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationFirst quarter of the fiscal year ending March 202713 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥754 million+45.6%
Operating profit¥159 million+63.9%
Ordinary income¥157 million+68.9%
Net income¥116 million+70.6%
Gross Profit Margin
Rate40.7%
Year-on-year changeDown 2.2 percentage points
Operating profit margin
Rate21.1%
Year-on-year change+2.3 percentage points
Results for the three months of the current quarter
Revenue¥75.4 billion, up 45.6% year on year
Gross profit¥30.7 billion, up 38.1% year on year
Operating profit¥15.9 billion, up 63.9% year on year
Profit before tax¥15.7 billion, up 68.9% year on year
Profit for the period¥11.6 billion, up 70.6% year on year
Adjusted operating profit¥17.4 billion, up 59.3% year on year
Adjusted net income¥12.5 billion, up 65.1% year on year
Full-year earnings forecast
Revenue¥340 billion
Gross profit¥146.2 billion
Adjusted operating profit¥86.0 billion
Operating profit¥79.4 billion
Profit before tax¥78.3 billion
Profit for the period¥55.5 billion
Annual Dividend¥65
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Above plan (revenue and profit are expected to exceed the forecasts announced with the full-year financial results)Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
First-quarter revenueUp from ¥51.8 billion in the same period of the previous year to ¥75.4 billion: equipment for worldwide customers +¥21.1 billion, equipment for local Chinese customers -¥2.6 billion, services +¥5.1 billion
First-quarter adjusted operating profitUp from ¥10.9 billion in the same period of the previous year to ¥17.4 billion: gross profit +¥8.5 billion, SG&A expenses -¥2.0 billion, other items, including adjustments, +¥0 billion
Full-year revenue forecast versus the previous forecastEquipment for worldwide customers +¥21.5 billion, equipment for local Chinese customers +¥28.5 billion, services +¥10.0 billion
Full-year adjusted operating profit forecast versus the previous forecastGross profit +¥28.6 billion, SG&A expenses -¥3.1 billion, other items, including adjustments, +¥0 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Overall market outlook for 2026At least 25% above 2025
- Outlook for the equipment market for NAND applicationsApproximately 25% above 2025
- Outlook for the equipment market for DRAM applicationsApproximately 40% above 2025
- Outlook for the Logic/Foundry and other marketsApproximately 20% above 2025
- FY2027/3 production utilization rateAverage of 70–80% in the first half and at least 80% in the second half
New initiatives
- Acquired land adjacent to the Tonami facility to expand production capacity
- Completed the acquisition of 565,900 treasury shares and plans to cancel the same number of shares
- Revised the full-year earnings and dividend forecasts upward
Key KPIsA metric the company considers important as a management benchmark.
- Service revenue¥170 millionYear on year against the same period last year＋42.9%
- Equipment revenue¥584 millionYear on year against the same period last year＋46.4%
- Revenue share from worldwide customers75 %Year on year against the same period last yearUp 13 percentage points
- Revenue ratio from local Chinese customers25 %Year on year against the same period last yearDown 13 percentage points
- High-value-added product ratio (full-year forecast)68 %
- Cumulative shipments of vertical equipment20,000 Units
- Equity ratio60.6 %Year on year against the same period last yearDown 0.4 percentage points from the end of the previous fiscal year
Medium-term management plan targets
Target achievement timingBy FY2029/3 (the revenue target is expected to be achieved two years ahead of schedule in FY2027/3; the adjusted operating margin target is aimed to be achieved in FY2028/3)
RevenueAt least ¥330 billion
Equipment business revenue ratioApproximately 80%
Service business revenue ratioApproximately 20%
Adjusted operating marginAt least 30%
R&D expenses as a percentage of revenueAt least 6%
ROE25% or higher
ROICAt least 23%
Financial targets
Equity ratio
Actual results60.6%
ROETarget: at least 25%; current-period result: not disclosed
ROICTarget: at least 23%; current-period result: not disclosed
Market Size / Share
Overall market outlook for 2026At least 25% above 2025
Outlook for the equipment market for NAND applicationsApproximately 25% above 2025
Outlook for the equipment market for DRAM applicationsApproximately 40% above 2025
Outlook for the Logic/Foundry and other marketsApproximately 20% above 2025
Number of stores and locations
Production sites in Japan and South Korea are shown. The number of sites at period-end and the number of openings and closures during the period are not disclosedCapital expenditures
¥48 million
Annual Dividend
Annual dividend per share¥65
Interim Dividend¥32
Year-end dividend¥33
Payout ratio
Rate25.2% (based on adjusted net income)
Total payout ratioExpected to be approximately 50% upon achievement of the medium-term targets
Acquisition of treasury shares
Acquisition period14 May 2026–27 July 2026
Number of shares acquired565,900 shares
Total acquisition cost¥5,299,480,480
Number of shares cancelled565,900 shares
Scheduled retirement date31 August 2026
| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥754 million (YoY +45.6%) |
| Operating profit | ¥159 million (YoY +63.9%) |
| Ordinary income | ¥157 million (YoY +68.9%) |
| Net income | ¥116 million (YoY +70.6%) |
| Gross Profit Margin | Rate 40.7% / Year-on-year change Down 2.2 percentage points |
| Operating profit margin | Rate 21.1% / Year-on-year change +2.3 percentage points |
| Results for the three months of the current quarter | Revenue ¥75.4 billion, up 45.6% year on year / Gross profit ¥30.7 billion, up 38.1% year on year / Operating profit ¥15.9 billion, up 63.9% year on year / Profit before tax ¥15.7 billion, up 68.9% year on year / Profit for the period ¥11.6 billion, up 70.6% year on year / Adjusted operating profit ¥17.4 billion, up 59.3% year on year / Adjusted net income ¥12.5 billion, up 65.1% year on year |
| Full-year earnings forecast | Revenue ¥340 billion / Gross profit ¥146.2 billion / Adjusted operating profit ¥86.0 billion / Operating profit ¥79.4 billion / Profit before tax ¥78.3 billion / Profit for the period ¥55.5 billion / Annual Dividend ¥65 |
| Self-assessment against the plan | Above plan (revenue and profit are expected to exceed the forecasts announced with the full-year financial results) |
| Breakdown of Factors Affecting the Change | First-quarter revenue Up from ¥51.8 billion in the same period of the previous year to ¥75.4 billion: equipment for worldwide customers +¥21.1 billion, equipment for local Chinese customers -¥2.6 billion, services +¥5.1 billion / First-quarter adjusted operating profit Up from ¥10.9 billion in the same period of the previous year to ¥17.4 billion: gross profit +¥8.5 billion, SG&A expenses -¥2.0 billion, other items, including adjustments, +¥0 billion / Full-year revenue forecast versus the previous forecast Equipment for worldwide customers +¥21.5 billion, equipment for local Chinese customers +¥28.5 billion, services +¥10.0 billion / Full-year adjusted operating profit forecast versus the previous forecast Gross profit +¥28.6 billion, SG&A expenses -¥3.1 billion, other items, including adjustments, +¥0 billion |
| Key KPIs | Service revenue ¥170 million, Equipment revenue ¥584 million, Revenue share from worldwide customers 75 %, Revenue ratio from local Chinese customers 25 %, High-value-added product ratio (full-year forecast) 68 %, Cumulative shipments of vertical equipment 20,000 Units, Equity ratio 60.6 % |
| Number of stores and locations | Production sites in Japan and South Korea are shown. The number of sites at period-end and the number of openings and closures during the period are not disclosed |
| Assumptions Underlying the Business Outlook | Overall market outlook for 2026 At least 25% above 2025, Outlook for the equipment market for NAND applications Approximately 25% above 2025, Outlook for the equipment market for DRAM applications Approximately 40% above 2025, Outlook for the Logic/Foundry and other markets Approximately 20% above 2025, FY2027/3 production utilization rate Average of 70–80% in the first half and at least 80% in the second half |
| Medium-term management plan targets | Target achievement timing By FY2029/3 (the revenue target is expected to be achieved two years ahead of schedule in FY2027/3; the adjusted operating margin target is aimed to be achieved in FY2028/3) / Revenue At least ¥330 billion / Equipment business revenue ratio Approximately 80% / Service business revenue ratio Approximately 20% / Adjusted operating margin At least 30% / R&D expenses as a percentage of revenue At least 6% / ROE 25% or higher / ROIC At least 23% |
| Financial targets | Equity ratio Actual results 60.6% / Target Not disclosed / ROE Target: at least 25%; current-period result: not disclosed / ROIC Target: at least 23%; current-period result: not disclosed |
| Annual Dividend | Annual dividend per share ¥65 / Interim Dividend ¥32 / Year-end dividend ¥33 |
| Payout ratio | Rate 25.2% (based on adjusted net income) / Total payout ratio Expected to be approximately 50% upon achievement of the medium-term targets |
| Acquisition of treasury shares | Acquisition period 14 May 2026–27 July 2026 / Number of shares acquired 565,900 shares / Total acquisition cost ¥5,299,480,480 / Number of shares cancelled 565,900 shares / Scheduled retirement date 31 August 2026 |
| Capital expenditures | ¥48 million |
| Market Size / Share | Overall market outlook for 2026 At least 25% above 2025 / Outlook for the equipment market for NAND applications Approximately 25% above 2025 / Outlook for the equipment market for DRAM applications Approximately 40% above 2025 / Outlook for the Logic/Foundry and other markets Approximately 20% above 2025 |
| New initiatives | Acquired land adjacent to the Tonami facility to expand production capacity, Completed the acquisition of 565,900 treasury shares and plans to cancel the same number of shares, Revised the full-year earnings and dividend forecasts upward |
Items this document does not state (8)
Selling, general and administrative expensesProgress against full-year forecastSegment resultsUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookOrders 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.Investment by device manufacturers in next-generation transitions and production capacity expansions for high-performance devices is rapidly increasing, making it likely that equipment sales will substantially exceed the previous forecast. For the first quarter, growth in equipment sales, particularly for DRAM and Logic applications, and service revenue contributed to higher revenue and profit.
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