Worth reading
95Important
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
-2000
百万円（通期売上高計画の期初計画比）Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsSecond quarter of the fiscal year ended December 202515 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥41,714 million-7.0%
Operating profit¥9,203 million-15.1%
Ordinary income¥9,270 million-15.4%
Net income¥6,881 million-14.4%
Gross Profit Margin45.3%
Operating profit margin22.1%
Selling, general and administrative expenses¥9,714 million
Results for the three months of the current quarter
Net Sales
¥22,263 million
Year on year against the same period last year-11.1%
Operating profit
¥4,967 million
Year on year against the same period last year-21.1%
Full-year earnings forecast
Net Sales
¥90,000 million
Operating profit
¥19,500 million
Ordinary income
¥19,700 million
Net income
¥14,540 million
Operating profit margin
21.7%
Ordinary income margin
21.9%
Net profit margin
16.2%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
売上高・利益ともに計画達成Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Decrease in gross profit due to lower sales¥-1,120 million
- Foreign Exchange Effects¥-350 million
- Increase in R&D expenses¥-290 million
- R&D以外販管費増¥-160 million
- コストダウン等による粗利率良化¥284 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- 通期ドル為替レート¥146.72
- 通期ユーロ為替レート¥165.16
- 下期ドル為替レート¥145
- 下期ユーロ為替レート¥168
- 中国関税率（8月以降）57.3 %
- ベトナム関税率（8月以降）22.3 %
- 日本関税率（8月以降）15 %
New initiatives
- ベトナム第2工場の本格稼働
- 株式会社マプリィとのパートナーシップ構築・出資
- 第2世代G2超広角ズームレンズの発売
- RF・Zマウント対応の高倍率ズームレンズの発売
- 330万株の自己株式消却
- 1株につき4株の株式分割
Key KPIsA metric the company considers important as a management benchmark.
- Interchangeable-lens camera market volume16 % increase
- Interchangeable-lens camera market value10 % increase
- Interchangeable lens market volume5 % increase
- Interchangeable lens market value-2 % decrease
- Production Capacity1.2 現状比倍
- Medical revenue4 Hundreds of millions of yenYear on year against the same period last year+28.8%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Revenue165 Hundreds of millions of yenBusiness写真関連・自社Year on year against the same period last year-8.2%
- Number of versions23 10,000 unitsBusiness写真関連・自社Year on year against the same period last year+0.5%
- Revenue135 Hundreds of millions of yenBusiness写真関連・OEMYear on year against the same period last year-10.8%
- Number of versions42 10,000 unitsBusiness写真関連・OEMYear on year against the same period last year-5.7%
- 数量合計59 10,000 unitsBusiness監視＆FA関連Year on year against the same period last year+12.5%
Segment results
- Photography-related businessNet Sales29,982Operating profit8,403Year-on-year change in revenue-9.4Year-on-year operating profit growth-15.8
- Surveillance & factory automation businessNet Sales5,976Operating profit929Year-on-year change in revenue-0.6Year-on-year operating profit growth7.3
- Mobility & healthcare and other businessesNet Sales5,755Operating profit1,342Year-on-year change in revenue0.2Year-on-year operating profit growth-1.3
Medium-term management plan targets
Plan nameValue Creation26 ver2.0
Target fiscal year2026
Net Sales950
Revenue unitHundreds of millions of yen
Operating profit205
Operating profit unitHundreds of millions of yen
Operating profit margin21.6%
ROE16% or higher
Long-Term Vision売上高1,000億円、新規事業売上高100億円
Financial targets
ROE16% or higher
Equity ratio75%程度を目安
Debt-to-equity ratio0.1倍程度
Total payout ratio60%を目安
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
-4 Hundreds of millions of yen
Details米国関税措置による営業利益影響額。写真関連自社ブランド約3.8億円、監視・FA関連約0.2億円。
Market Size / Share
レンズ交換式カメラ市場は数量+16%、金額+10%。交換レンズ市場は数量+5%、金額-2%。市場シェアの開示はNot disclosed。Capital expenditures
175 億円2024～2026年累計計画
Annual Dividend
Annual dividend amount80円を下限
Payout ratio
40%を目安。総還元性向60%を目安、DOE3%以上を安定配当額の目安Acquisition of treasury shares
¥4 billion
Period2025年2月に実施
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Second quarter of the fiscal year ended December 2025 |
| Net Sales | ¥41,714 million (YoY -7.0%) |
| Operating profit | ¥9,203 million (YoY -15.1%) |
| Ordinary income | ¥9,270 million (YoY -15.4%) |
| Net income | ¥6,881 million (YoY -14.4%) |
| Gross Profit Margin | 45.3% |
| Operating profit margin | 22.1% |
| Selling, general and administrative expenses | ¥9,714 million |
| Results for the three months of the current quarter | Net Sales ¥22,263 million / Operating profit ¥4,967 million |
| Full-year earnings forecast | Net Sales ¥90,000 million / Operating profit ¥19,500 million / Ordinary income ¥19,700 million / Net income ¥14,540 million / Operating profit margin 21.7% / Ordinary income margin 21.9% / Net profit margin 16.2% |
| Self-assessment against the plan | 売上高・利益ともに計画達成 |
| Segment results | Segment Photography-related business / Net Sales ¥29,982 million / Operating profit ¥8,403 million / Year-on-year change in revenue ¥-9.4 million / Year-on-year operating profit growth ¥-15.8 million, Segment Surveillance & factory automation business / Net Sales ¥5,976 million / Operating profit ¥929 million / Year-on-year change in revenue ¥-0.6 million / Year-on-year operating profit growth ¥7.3 million, Segment Mobility & healthcare and other businesses / Net Sales ¥5,755 million / Operating profit ¥1,342 million / Year-on-year change in revenue ¥0.2 million / Year-on-year operating profit growth ¥-1.3 million |
| Breakdown of Factors Affecting the Change | Factors Decrease in gross profit due to lower sales / Amount ¥-1,120 million, Factors Foreign Exchange Effects / Amount ¥-350 million, Factors Increase in R&D expenses / Amount ¥-290 million, Factors R&D以外販管費増 / Amount ¥-160 million, Factors コストダウン等による粗利率良化 / Amount ¥284 million |
| Key KPIs | Indicator name Interchangeable-lens camera market volume / Value 16 % increase / Year on year against the same period last year Not disclosed, Indicator name Interchangeable-lens camera market value / Value 10 % increase / Year on year against the same period last year Not disclosed, Indicator name Interchangeable lens market volume / Value 5 % increase / Year on year against the same period last year Not disclosed, Indicator name Interchangeable lens market value / Value -2 % decrease / Year on year against the same period last year Not disclosed, Indicator name Production Capacity / Value 1.2 現状比倍, Indicator name Medical revenue / Value 4 Hundreds of millions of yen / Year on year against the same period last year 28.8 Hundreds of millions of yen |
| Unit price and quantity metrics | Business 写真関連・自社 / Indicator Revenue / Value 165 Hundreds of millions of yen / Year on year against the same period last year -8.2 Hundreds of millions of yen, Business 写真関連・自社 / Indicator Number of versions / Value 23 10,000 units / Year on year against the same period last year 0.5 10,000 units, Business 写真関連・OEM / Indicator Revenue / Value 135 Hundreds of millions of yen / Year on year against the same period last year -10.8 Hundreds of millions of yen, Business 写真関連・OEM / Indicator Number of versions / Value 42 10,000 units / Year on year against the same period last year -5.7 10,000 units, Business 監視＆FA関連 / Indicator 数量合計 / Value 59 10,000 units / Year on year against the same period last year 12.5 10,000 units |
| Assumptions Underlying the Business Outlook | Item 通期ドル為替レート / Value ¥146.72, Item 通期ユーロ為替レート / Value ¥165.16, Item 下期ドル為替レート / Value ¥145, Item 下期ユーロ為替レート / Value ¥168, Item 中国関税率（8月以降） / Value 57.3 %, Item ベトナム関税率（8月以降） / Value 22.3 %, Item 日本関税率（8月以降） / Value 15 % |
| Risk amount incorporated into the outlook | Amount -4 Hundreds of millions of yen / Details 米国関税措置による営業利益影響額。写真関連自社ブランド約3.8億円、監視・FA関連約0.2億円。 |
| Medium-term management plan targets | Plan name Value Creation26 ver2.0 / Target fiscal year 2026 / Net Sales 950 / Revenue unit Hundreds of millions of yen / Operating profit 205 / Operating profit unit Hundreds of millions of yen / Operating profit margin 21.6% / ROE 16% or higher / Long-Term Vision 売上高1,000億円、新規事業売上高100億円 |
| Financial targets | ROE 16% or higher / Equity ratio 75%程度を目安 / Debt-to-equity ratio 0.1倍程度 / Total payout ratio 60%を目安 |
| Annual Dividend | Annual dividend amount 80円を下限 / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | 40%を目安。総還元性向60%を目安、DOE3%以上を安定配当額の目安 |
| Acquisition of treasury shares | Amount ¥4 billion / Number of Shares Not disclosed / Period 2025年2月に実施 |
| Capital expenditures | 175 億円（2024～2026年累計計画） |
| Market Size / Share | レンズ交換式カメラ市場は数量+16%、金額+10%。交換レンズ市場は数量+5%、金額-2%。市場シェアの開示はNot disclosed。 |
| New initiatives | ベトナム第2工場の本格稼働, 株式会社マプリィとのパートナーシップ構築・出資, 第2世代G2超広角ズームレンズの発売, RF・Zマウント対応の高倍率ズームレンズの発売, 330万株の自己株式消却, 1株につき4株の株式分割 |
Items this document does not state (5)
Progress against full-year forecastNumber of stores and locationsNumber of employeesOrders 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.前年同期比では、円高、交換レンズ市場の減少に伴う写真関連事業の減収、減収による粗利減、R&D強化などによる販管費増が減益要因となった。通期計画の修正では、米国関税政策の影響の不透明さ、海外経済の減速懸念、写真関連事業のOEMにおける一部受注機種の所要減を理由としている。
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.