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Earnings presentation7740Tamron Co.,Ltd.Electrical Equipment and Precision Instruments

Presentation materials for the fiscal year ended December 2025 results briefing

For the fiscal year ending December 2025, net sales fell below the previous fiscal year due in part to lower orders for photography OEM products, and operating income also declined. For 2026, however, the company plans higher sales and profits, assuming an increase in new in-house-brand products and growth in its surveillance and automotive businesses.

Worth reading
67In focus
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
-3403
百万円（売上高、前年同期比）
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFiscal year ending December 202513 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥85,071 million-3.8%
Operating profit¥16,638 million-13.4%
Ordinary income¥16,699 million-13.5%
Net income¥11,761 million-19.0%
Selling, general and administrative expenses¥20,779 million
Gross Profit Margin
Rate44.0%
Year on year against the same period last year-0.5pts
Operating profit margin
Rate19.6%
Year on year against the same period last year-2.1pts
Results for the three months of the current quarter
Net Sales
¥21,967 million+9.7%
Operating profit
¥3,251 million+31.7%
Ordinary income
¥3,228 million+22.8%
Net income
¥1,702 million-25.9%
Operating profit margin14.8%
Full-year earnings forecast
Fiscal year ending December 2026
Net Sales
¥91,000 million
Operating profit
¥18,500 million
Ordinary income
¥18,500 million
Net income
¥13,690 million
Operating profit margin20.3%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Decrease in gross profit due to lower sales¥-1,320 million
  • R&D以外販管費増¥-400 million
  • Impact of U.S. tariffs¥-360 million
  • Increase in R&D expenses¥-230 million
  • Product Mix¥-130 million
  • Foreign Exchange Effects¥-120 million
  • Other¥-3 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Dollar¥148
  • Euro¥175
  • 写真関連・自社ブランド新製品投入数10本以上
New initiatives
  • 自社ブランド新製品を2026年に10本以上投入
  • 監視・FA関連でレーザー加工ヘッド、近赤外光源、多目的カメラなど新規分野へ参入
  • マプリィとのパートナーシップ構築・出資
  • ベトナム第2工場の本格稼働
  • 長期ビジョンおよびValue Creation26 ver.2.0の刷新
Key KPIsA metric the company considers important as a management benchmark.
  • 自社ブランド新製品投入数6 Models
  • Automotive revenue¥103 million
    Year on year against the same period last year+8.3%
  • Medical revenue¥10 million
    Year on year against the same period last year+49.3%
  • 監視＆FA関連数量129 10,000 units
    Year on year against the same period last year+12.7%
  • ROE13% range
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Business写真関連・自社ブランド
    Number of versions49
    Volume unit10,000 units
    Net Sales359
    Revenue unit¥ million
    Year on year against the same period last year
    Number of versions5.3
    Net Sales-0.1
  • Business写真関連・OEM
    Number of versions77
    Volume unit10,000 units
    Net Sales247
    Revenue unit¥ million
    Year on year against the same period last year
    Number of versions-16.3
    Net Sales-14.4
  • Business監視＆FA関連
    Number of versions129
    Volume unit10,000 units
    Year on year against the same period last year+12.7%
Segment results
Photography-related business
Net Sales
¥60,643 million-6.5%
Operating profit
¥15,630 million-13.7%
Surveillance & factory automation business
Net Sales
¥12,091 million-1.8%
Operating profit
¥1,675 million+7.0%
Mobility & healthcare and other businesses
Net Sales
¥12,336 million+8.9%
Operating profit
¥2,699 million+9.0%
Medium-term management plan targets
Plan nameValue Creation26 ver.2.0
Target fiscal year2026
Net Sales
¥950 million
Operating profit
¥205 million
Operating profit margin21.6%
ROE16% or higher
Total payout ratioApproximately 60%
Financial targets
ROE16% or higher
Equity ratio75%を目安
Liquidity月商3ヶ月分程度
Total payout ratio60%を目安
DOE3% or higher
Market Size / Share
  • Interchangeable-lens camera market volumeSlight increase
  • Interchangeable lens market volume3 %通期、前年同期比
  • In-house-brand value market share target7～8%
Annual Dividend
Annual¥36.25 per share
Interim¥10 per share
End of period¥26.25 per share
Payout ratio
49.8%
Acquisition of treasury shares
¥40 million
Period2025年2月実施
Total payout ratio
Approximately 80%
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFiscal year ending December 2025
Net Sales¥85,071 million (YoY -3.8%)
Operating profit¥16,638 million (YoY -13.4%)
Ordinary income¥16,699 million (YoY -13.5%)
Net income¥11,761 million (YoY -19.0%)
Gross Profit MarginRate 44.0% / Year on year against the same period last year -0.5pts
Operating profit marginRate 19.6% / Year on year against the same period last year -2.1pts
Selling, general and administrative expenses¥20,779 million
Results for the three months of the current quarterNet Sales ¥21,967 million (YoY +9.7%) / Operating profit ¥3,251 million (YoY +31.7%) / Ordinary income ¥3,228 million (YoY +22.8%) / Net income ¥1,702 million (YoY -25.9%) / Operating profit margin 14.8%
Full-year earnings forecastSubject Fiscal year ending December 2026 / Net Sales ¥91,000 million / Operating profit ¥18,500 million / Ordinary income ¥18,500 million / Net income ¥13,690 million / Operating profit margin 20.3%
Segment resultsPhotography-related business Net Sales ¥60,643 million (YoY -6.5%) / Operating profit ¥15,630 million (YoY -13.7%) / Surveillance & factory automation business Net Sales ¥12,091 million (YoY -1.8%) / Operating profit ¥1,675 million (YoY +7.0%) / Mobility & healthcare and other businesses Net Sales ¥12,336 million (YoY +8.9%) / Operating profit ¥2,699 million (YoY +9.0%)
Breakdown of Factors Affecting the ChangeFactors Decrease in gross profit due to lower sales / Amount ¥-1,320 million, Factors R&D以外販管費増 / Amount ¥-400 million, Factors Impact of U.S. tariffs / Amount ¥-360 million, Factors Increase in R&D expenses / Amount ¥-230 million, Factors Product Mix / Amount ¥-130 million, Factors Foreign Exchange Effects / Amount ¥-120 million, Factors Other / Amount ¥-3 million
Key KPIsIndicator 自社ブランド新製品投入数 / Value 6 Models / Year on year against the same period last year Not disclosed, Indicator Automotive revenue / Value ¥103 million / Year on year against the same period last year ¥8.3 million, Indicator Medical revenue / Value ¥10 million / Year on year against the same period last year ¥49.3 million, Indicator 監視＆FA関連数量 / Value 129 10,000 units / Year on year against the same period last year 12.7 10,000 units, Indicator ROE / Value 13% range / Year on year against the same period last year Not disclosed
Unit price and quantity metricsBusiness 写真関連・自社ブランド / Number of versions 49 / Volume unit 10,000 units / Net Sales 359 / Revenue unit ¥ million / Year on year against the same period last year Number of versions 5.3 / Net Sales -0.1, Business 写真関連・OEM / Number of versions 77 / Volume unit 10,000 units / Net Sales 247 / Revenue unit ¥ million / Year on year against the same period last year Number of versions -16.3 / Net Sales -14.4, Business 監視＆FA関連 / Number of versions 129 / Volume unit 10,000 units / Year on year against the same period last year 12.7
Assumptions Underlying the Business OutlookItem Dollar / Value ¥148, Item Euro / Value ¥175, Item 写真関連・自社ブランド新製品投入数 / Value 10本以上
Medium-term management plan targetsPlan name Value Creation26 ver.2.0 / Target fiscal year 2026 / Net Sales ¥950 million / Operating profit ¥205 million / Operating profit margin 21.6% / ROE 16% or higher / Total payout ratio Approximately 60%
Financial targetsROE 16% or higher / Equity ratio 75%を目安 / Liquidity 月商3ヶ月分程度 / Total payout ratio 60%を目安 / DOE 3% or higher
Annual DividendAnnual ¥36.25 per share / Interim ¥10 per share / End of period ¥26.25 per share
Payout ratio49.8%
Total payout ratioApproximately 80%
Acquisition of treasury sharesAmount ¥40 million / Period 2025年2月実施
Market Size / ShareItem Interchangeable-lens camera market volume / Value Slight increase, Item Interchangeable lens market volume / Value 3 %（通期、前年同期比）, Item In-house-brand value market share target / Value 7～8%
New initiatives自社ブランド新製品を2026年に10本以上投入, 監視・FA関連でレーザー加工ヘッド、近赤外光源、多目的カメラなど新規分野へ参入, マプリィとのパートナーシップ構築・出資, ベトナム第2工場の本格稼働, 長期ビジョンおよびValue Creation26 ver.2.0の刷新
Items this document does not state (8)
Progress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookCapital 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.

2025年通期は、交換レンズ市場の停滞や写真OEMの大幅な出荷・受注減により減収となった。営業利益は減収による粗利減に加え、原材料費・光熱費・人件費の上昇、米国関税影響、研究開発費の増加が影響した。

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.
Presentation materials for the fiscal year ended December 2025 results briefing | Tamron Co.,Ltd. (7740) timely disclosure | Komori