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Financial results presentation7740Tamron Co.,Ltd.Electrical Equipment and Precision Instruments

Financial Results Presentation Materials for the First Quarter of the Fiscal Year Ended December 2025

In the first quarter of the fiscal year ending December 2025, net sales declined 1.9% year on year and operating income declined 6.9%. Although the gross profit margin improved through cost reductions and other measures, the improvement did not offset higher SG&A expenses, including R&D and personnel costs, resulting in lower operating income.

Worth reading
84Important
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
-312
¥ millions (year-on-year change in operating income)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFirst quarter of the fiscal year ended December 202514 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥19,451 million-1.9%
Operating profit¥4,235 million-6.9%
Ordinary income¥4,238 million-7.8%
Net income¥2,841 million-15.1%
Gross Profit Margin45.8%
Operating profit margin21.8%
Results for the three months of the current quarter
Net Sales
¥19,451 million
Operating profit
¥4,235 million
Ordinary income
¥4,238 million
Quarterly net income
¥2,841 million
Full-year earnings forecast
Net Sales
¥92,000 million
Operating profit
¥20,000 million
Ordinary income
¥20,000 million
Net income for the current fiscal year
¥14,800 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
1Q業績の計画以上の進捗
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Increase in R&D expenses¥-190 million
  • R&D以外販管費増¥-130 million
  • Foreign Exchange Effects¥-10 million
  • Decrease in gross profit due to lower sales¥-400 million
  • コストダウン等粗利率良化¥418 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • 年間USD/JPY145
  • 年間EUR/JPY158
  • 2Q以降USD/JPY143
  • 2Q以降EUR/JPY158
  • 米国向け関税アップ率（日本・ベトナム）+10%
  • 米国向け関税アップ率（中国）+145%
New initiatives
  • ベトナム第2工場の本格稼働開始
  • 40億円の自己株式取得
  • 7月を効力発生日とする1：4の株式分割
  • RFマウント・Zマウント対応の高倍率ズームレンズの開発発表
Key KPIsA metric the company considers important as a management benchmark.
  • Gross profit margin45.8 %
    Year on year against the same period last year+1.0 percentage points
  • Operating margin21.8 %
    Year on year against the same period last year-1.1 percentage points
  • Interchangeable-lens camera market volume9 % increase
    Year on year against the same period last year+9%
  • Interchangeable lens market value4 % increase
    Year on year against the same period last year+4%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Photography-related in-house-brand sales volume10 10,000 units
    Year on year against the same period last year-3.1%
  • Photography-related OEM sales volume18 10,000 units
    Year on year against the same period last year-6.8%
  • 監視＆FA関連合計数量28 10,000 units
    Year on year against the same period last year+7.8%
  • 車載数量257 10,000 units
    Year on year against the same period last year-5.7%
Segment results
Photography-related business
Net Sales
¥13,569 million-2.7%
Operating profit
¥3,803 million-5.4%
Surveillance & factory automation business
Net Sales
¥2,878 million-2.1%
Operating profit
¥409 million-4.5%
Mobility & healthcare and other businesses
Net Sales
¥3,003 million+2.3%
Operating profit
¥729 million0.0%
Medium-term management plan targets
  • TargetRevenue of ¥100 billion
    Target fiscal yearLong-Term Vision
  • Target年間新製品10本投入
    Target fiscal year2026
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
米国関税による営業利益影響約△4.3億円
Details写真関連自社ブランド約△4.0億円、監視・FA関連約△0.3億円
Market Size / Share
  • Interchangeable-lens camera market volume+9%
  • Interchangeable-lens camera market value+6%
  • Interchangeable lens market volume+5%
  • Interchangeable lens market value+4%
Capital expenditures
¥5,000 million2025年予想
Annual Dividend
Annual dividend per share¥105
Interim¥40
End of period¥65
Payout ratio
40 Approximately %
Total payout ratioApproximately 60%
Acquisition of treasury shares
¥40 100 million
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst quarter of the fiscal year ended December 2025
Net Sales¥19,451 million (YoY -1.9%)
Operating profit¥4,235 million (YoY -6.9%)
Ordinary income¥4,238 million (YoY -7.8%)
Net income¥2,841 million (YoY -15.1%)
Gross Profit Margin45.8%
Operating profit margin21.8%
Results for the three months of the current quarterNet Sales ¥19,451 million / Operating profit ¥4,235 million / Ordinary income ¥4,238 million / Quarterly net income ¥2,841 million
Full-year earnings forecastNet Sales ¥92,000 million / Operating profit ¥20,000 million / Ordinary income ¥20,000 million / Net income for the current fiscal year ¥14,800 million
Self-assessment against the plan1Q業績の計画以上の進捗
Segment resultsPhotography-related business Net Sales ¥13,569 million (YoY -2.7%) / Operating profit ¥3,803 million (YoY -5.4%) / Surveillance & factory automation business Net Sales ¥2,878 million (YoY -2.1%) / Operating profit ¥409 million (YoY -4.5%) / Mobility & healthcare and other businesses Net Sales ¥3,003 million (YoY +2.3%) / Operating profit ¥729 million (YoY 0.0%)
Breakdown of Factors Affecting the ChangeFactors Increase in R&D expenses / Amount ¥-190 million, Factors R&D以外販管費増 / Amount ¥-130 million, Factors Foreign Exchange Effects / Amount ¥-10 million, Factors Decrease in gross profit due to lower sales / Amount ¥-400 million, Factors コストダウン等粗利率良化 / Amount ¥418 million
Key KPIsIndicator name Gross profit margin / Value 45.8 % / Year on year against the same period last year +1.0 percentage points, Indicator name Operating margin / Value 21.8 % / Year on year against the same period last year -1.1 percentage points, Indicator name Interchangeable-lens camera market volume / Value 9 % increase / Year on year against the same period last year +9%, Indicator name Interchangeable lens market value / Value 4 % increase / Year on year against the same period last year +4%
Unit price and quantity metricsIndicator name Photography-related in-house-brand sales volume / Value 10 10,000 units / Year on year against the same period last year -3.1%, Indicator name Photography-related OEM sales volume / Value 18 10,000 units / Year on year against the same period last year -6.8%, Indicator name 監視＆FA関連合計数量 / Value 28 10,000 units / Year on year against the same period last year +7.8%, Indicator name 車載数量 / Value 257 10,000 units / Year on year against the same period last year -5.7%
Assumptions Underlying the Business OutlookItem 年間USD/JPY / Value 145, Item 年間EUR/JPY / Value 158, Item 2Q以降USD/JPY / Value 143, Item 2Q以降EUR/JPY / Value 158, Item 米国向け関税アップ率（日本・ベトナム） / Value +10%, Item 米国向け関税アップ率（中国） / Value +145%
Risk amount incorporated into the outlook米国関税による営業利益影響 約△4.3億円 / Details 写真関連自社ブランド約△4.0億円、監視・FA関連約△0.3億円
Medium-term management plan targetsTarget Revenue of ¥100 billion / Target fiscal year Long-Term Vision, Target 年間新製品10本投入 / Target fiscal year 2026
Annual DividendAnnual dividend per share ¥105 / Interim ¥40 / End of period ¥65
Payout ratioValue 40 Approximately % / Total payout ratio Approximately 60%
Acquisition of treasury sharesAmount ¥40 100 million / Period Not disclosed
Capital expenditures5,000 百万円（2025年予想）
Market Size / ShareIndicator Interchangeable-lens camera market volume / Value +9%, Indicator Interchangeable-lens camera market value / Value +6%, Indicator Interchangeable lens market volume / Value +5%, Indicator Interchangeable lens market value / Value +4%
New initiativesベトナム第2工場の本格稼働開始, 40億円の自己株式取得, 7月を効力発生日とする1：4の株式分割, RFマウント・Zマウント対応の高倍率ズームレンズの開発発表
Items this document does not state (7)
Selling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsNumber of employeesFinancial targetsOrders 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.

写真自社ブランドの米州・中国での減収、TV会議の市場低迷と前年同期の一時的な出荷増の反動が減収要因となった。一方、監視・車載は増収し、コストダウン・生産性向上で粗利益は改善したが、研究開発費の増加、人件費上昇などによる販管費増で営業利益は減少した。

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 First Quarter of the Fiscal Year Ended December 2025 | Tamron Co.,Ltd. (7740) timely disclosure | Komori