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

Presentation Materials for the Third Quarter of the Fiscal Year Ended December 2025

For the cumulative first 3 quarters of the fiscal year ending December 2025, net sales and profits declined, with net sales and operating income below the year-earlier period, mainly in the photography-related business. In response, the full-year forecast was reduced from the plan announced on 7 August to ¥87 billion in net sales and ¥18 billion in operating income.

Worth reading
82Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Deterioration
Direction inferred from the company’s description.
Scale
-1500
百万円（8月7日計画比の営業利益修正額）
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationThird quarter of the fiscal year ended December 202510 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥63,103 million -7.8%Q3 cumulative
Operating profit¥13,386 million -20.0%Q3 cumulative
Ordinary income¥13,470 million -19.2%Q3 cumulative
Net income¥10,059 million -17.7%Q3 cumulative
Gross Profit Margin44.9%
Operating profit margin21.2%
Selling, general and administrative expenses¥14,924 million Q3 cumulative
Results for the three months of the current quarter
Net Sales
¥21,389 million-9.4%
Operating profit
¥4,183 million-29.0%
Ordinary income
¥4,200 million-26.5%
Net income
¥3,177 million-24.2%
Full-year earnings forecast
Net Sales
¥87,000 million
Operating profit
¥18,000 million
Ordinary income
¥18,200 million
Net income
¥13,560 million
Operating profit margin
20.7%
Ordinary income margin
20.9%
Net profit margin
15.6%
Dollar
¥148.83
Euro
¥168.24
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Q3累計：計画を若干下回って推移
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Decrease in gross profit due to lower sales¥-2,535 million
  • Increase in R&D expenses¥-305 million
  • R&D以外販管費増¥-305 million
  • Impact of U.S. tariffs¥-165 million
  • Foreign Exchange Effects¥-30 million
  • Other¥-6 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Dollar
¥148.83
Euro
¥168.24
Q4ドル
¥151
Q4ユーロ
¥176
Tariff rates
Details日本15%、ベトナム22.3%、中国57.3%（8月以降の計関税率）
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
  • 新製品投入方針を2026年に年間10本へ拡大
Key KPIsA metric the company considers important as a management benchmark.
  • レンズ交換式カメラ市場数量（Q3）-6 % year on year
  • レンズ交換式カメラ市場金額（Q3）-11 % year on year
  • 交換レンズ市場数量（Q3）-1 % year on year
  • 交換レンズ市場金額（Q3）-2 % year on year
  • レンズ交換式カメラ市場数量（Q3累計）7 % year on year
  • 交換レンズ市場数量（Q3累計）2 % year on year
  • Production Capacity1.2 現状比倍
  • 中国部品調達率現状約30%、2025年以降20%以下
Segment results
Photography-related business
Net Sales
¥45,114 million -10.4%Q3 cumulative
Operating profit
¥12,328 million -19.1%Q3 cumulative
Surveillance & factory automation business
Net Sales
¥9,038 million -4.0%Q3 cumulative
Operating profit
¥1,250 million -13.4%Q3 cumulative
Mobility & healthcare and other businesses
Net Sales
¥8,951 million +2.7%Q3 cumulative
Operating profit
¥2,063 million -2.0%Q3 cumulative
Medium-term management plan targets
  • TargetRevenue of ¥100 billion
  • Target自社ブランド新製品年間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.
U.S. tariffs
¥-350 million営業利益影響額
Details写真関連約-330百万円、監視＆FA関連約-20百万円
Market Size / Share
Market Trendsレンズ交換式カメラ、交換レンズ市場の数量・金額の前年同期比を地域別・市場別に記載
Acquisition of treasury shares
¥4,000 million
Period2025年2月実施
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredThird quarter of the fiscal year ended December 2025
Net Sales¥63,103 million (Q3 cumulative) (YoY -7.8%)
Operating profit¥13,386 million (Q3 cumulative) (YoY -20.0%)
Ordinary income¥13,470 million (Q3 cumulative) (YoY -19.2%)
Net income¥10,059 million (Q3 cumulative) (YoY -17.7%)
Gross Profit Margin44.9%
Operating profit margin21.2%
Selling, general and administrative expenses¥14,924 million (Q3 cumulative)
Results for the three months of the current quarterNet Sales ¥21,389 million (YoY -9.4%) / Operating profit ¥4,183 million (YoY -29.0%) / Ordinary income ¥4,200 million (YoY -26.5%) / Net income ¥3,177 million (YoY -24.2%)
Full-year earnings forecastNet Sales ¥87,000 million / Operating profit ¥18,000 million / Ordinary income ¥18,200 million / Net income ¥13,560 million / Operating profit margin 20.7% / Ordinary income margin 20.9% / Net profit margin 15.6% / Dollar ¥148.83 / Euro ¥168.24
Self-assessment against the planQ3累計：計画を若干下回って推移
Segment resultsPhotography-related business Net Sales ¥45,114 million (Q3 cumulative) (YoY -10.4%) / Operating profit ¥12,328 million (Q3 cumulative) (YoY -19.1%) / Surveillance & factory automation business Net Sales ¥9,038 million (Q3 cumulative) (YoY -4.0%) / Operating profit ¥1,250 million (Q3 cumulative) (YoY -13.4%) / Mobility & healthcare and other businesses Net Sales ¥8,951 million (Q3 cumulative) (YoY +2.7%) / Operating profit ¥2,063 million (Q3 cumulative) (YoY -2.0%)
Breakdown of Factors Affecting the ChangeFactors Decrease in gross profit due to lower sales / Amount ¥-2,535 million, Factors Increase in R&D expenses / Amount ¥-305 million, Factors R&D以外販管費増 / Amount ¥-305 million, Factors Impact of U.S. tariffs / Amount ¥-165 million, Factors Foreign Exchange Effects / Amount ¥-30 million, Factors Other / Amount ¥-6 million
Key KPIsIndicator name レンズ交換式カメラ市場数量（Q3） / Value -6 % year on year, Indicator name レンズ交換式カメラ市場金額（Q3） / Value -11 % year on year, Indicator name 交換レンズ市場数量（Q3） / Value -1 % year on year, Indicator name 交換レンズ市場金額（Q3） / Value -2 % year on year, Indicator name レンズ交換式カメラ市場数量（Q3累計） / Value 7 % year on year, Indicator name 交換レンズ市場数量（Q3累計） / Value 2 % year on year, Indicator name Production Capacity / Value 1.2 現状比倍, Indicator name 中国部品調達率 / Value 現状約30%、2025年以降20%以下
Assumptions Underlying the Business OutlookDollar ¥148.83 / Euro ¥168.24 / Q4ドル ¥151 / Q4ユーロ ¥176 / Tariff rates Details 日本15%、ベトナム22.3%、中国57.3%（8月以降の計関税率）
Risk amount incorporated into the outlookU.S. tariffs -350 百万円（営業利益影響額）
Medium-term management plan targetsTarget Revenue of ¥100 billion / Target fiscal year Not disclosed, Target 自社ブランド新製品年間10本投入 / Target fiscal year 2026
Acquisition of treasury sharesAmount ¥4,000 million / Period 2025年2月実施
Market Size / ShareMarket Trends レンズ交換式カメラ、交換レンズ市場の数量・金額の前年同期比を地域別・市場別に記載 / Share 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, 新製品投入方針を2026年に年間10本へ拡大
Items this document does not state (10)
Progress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesFinancial targetsAnnual DividendPayout ratioCapital expendituresOrders 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OEMの想定以上の受注減、写真自社ブランドの欧州での販売回復遅れ、交換レンズ市場の停滞、米ドルに対する円高、原材料費・光熱費・人件費の上昇、米国関税の影響、研究開発強化による販管費増加。

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