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

Financial Results Briefing Materials for the First Quarter of the Fiscal Year Ending December 2026

In the first quarter of FY2026, sales of surveillance and factory automation products and mobility and healthcare products increased, while OEM products for the photography market declined significantly. Consolidated net sales fell 5.0% year on year and operating profit declined 18.7%. However, both sales and profit are progressing ahead of the internal plan.

Worth reading
83Important
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
-5
Year-on-year revenue growth (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFirst quarter of the fiscal year ending December 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales18,485 million yen-5.0%
Operating profit3,441 million yen-18.7%
Ordinary income3,363 million yen-20.6%
Net income2,712 million yen-4.5%
Selling, general and administrative expenses4,767 million yen
Gross Profit Margin
Rate44.4%
Year on year against the same period last year-1.4pts
Operating profit margin
Rate18.6%
Year on year against the same period last year-3.2pts
Results for the three months of the current quarter
Net Sales
18,485 million yen
Operating profit
3,441 million yen
Ordinary income
3,363 million yen
Net income
2,712 million yen
Full-year earnings forecast
Net Sales
91,000 million yen
Operating profit
18,500 million yen
Ordinary income
18,500 million yen
Net income
13,690 million yen
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Both sales and profit are progressing ahead of plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Foreign Exchange Effects300 million yen
  • Decrease in SG&A expenses excluding R&D160 million yen
  • Increase in R&D expenses-140 million yen
  • Impact of U.S. tariffs-110 million yen
  • Deterioration in gross margin due to product mix and other factors-320 million yen
  • Decrease in gross profit due to lower sales-690 million yen
  • Other-6 million yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • 148 yen
    AssumptionsAssumed full-year 2026 USD exchange rate
  • 175 yen
    AssumptionsAssumed full-year 2026 EUR exchange rate
New initiatives
  • Investment in Light Touch Technology Co., Ltd.
  • Renewal of the long-term vision
  • Launch of TAMRON-LINK wireless control accessory
  • iOS support for TAMRON Lens Utility
  • Launch of the 35-100mm F/2.8 VXD lens
Key KPIsA metric the company considers important as a management benchmark.
  • Plan for launching new in-house-brand products10 Units or more
  • Interchangeable-lens camera market volume3 % increase
  • Interchangeable-lens market value2 % increase
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Photography-related in-house-brand sales volume10 10,000 units-3.7%
  • Photography-related OEM sales volume12 10,000 units-35.5%
  • Total surveillance and factory automation sales volume39 10,000 units+38.3%
Segment results
  • Photography-related business
    Net Sales11,305 million yen (YoY -16.7%)
    Operating profit2,390 million yen (YoY -37.2%)
  • Surveillance & factory automation business
    Net Sales3,602 million yen (YoY +25.2%)
    Operating profit523 million yen (YoY +27.9%)
  • Mobility & healthcare and other businesses
    Net Sales3,577 million yen (YoY +19.1%)
    Operating profit901 million yen (YoY +23.7%)
Medium-term management plan targets
Plan nameValue Creation26 ver.2.0
Target fiscal year2026
Net Sales
95,000 million yen
Operating profit
20,500 million yen
Operating profit margin
21.6 %
Comparison with actual resultsIncludes actual results for 2024 and 2025 and the 2026 plan
Financial targets
  • ROE
    Target16% or higher
  • EBITDA margin
    Target24% or higher
Market Size / Share
  • Interchangeable-lens camera market
    Number of versions+3%
  • Interchangeable-lens market+2%
  • In-house-brand value market share target7～8%
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending December 2026
Net Sales18,485 million yen (YoY -5.0%)
Operating profit3,441 million yen (YoY -18.7%)
Ordinary income3,363 million yen (YoY -20.6%)
Net income2,712 million yen (YoY -4.5%)
Gross Profit MarginRate 44.4% / Year on year against the same period last year -1.4pts
Operating profit marginRate 18.6% / Year on year against the same period last year -3.2pts
Selling, general and administrative expenses4,767 million yen
Results for the three months of the current quarterNet Sales 18,485 million yen / Operating profit 3,441 million yen / Ordinary income 3,363 million yen / Net income 2,712 million yen
Full-year earnings forecastNet Sales 91,000 million yen / Operating profit 18,500 million yen / Ordinary income 18,500 million yen / Net income 13,690 million yen
Self-assessment against the planBoth sales and profit are progressing ahead of plan
Segment resultsSegment Photography-related business / Net Sales 11,305 million yen (YoY -16.7%) / Operating profit 2,390 million yen (YoY -37.2%), Segment Surveillance & factory automation business / Net Sales 3,602 million yen (YoY +25.2%) / Operating profit 523 million yen (YoY +27.9%), Segment Mobility & healthcare and other businesses / Net Sales 3,577 million yen (YoY +19.1%) / Operating profit 901 million yen (YoY +23.7%)
Breakdown of Factors Affecting the ChangeFactors Foreign Exchange Effects / Amount 300 million yen, Factors Decrease in SG&A expenses excluding R&D / Amount 160 million yen, Factors Increase in R&D expenses / Amount -140 million yen, Factors Impact of U.S. tariffs / Amount -110 million yen, Factors Deterioration in gross margin due to product mix and other factors / Amount -320 million yen, Factors Decrease in gross profit due to lower sales / Amount -690 million yen, Factors Other / Amount -6 million yen
Key KPIsIndicator name Plan for launching new in-house-brand products / Value 10 Units or more / Year on year against the same period last year Not disclosed, Indicator name Interchangeable-lens camera market volume / Value 3 % increase / Year on year against the same period last year Not disclosed, Indicator name Interchangeable-lens market value / Value 2 % increase / Year on year against the same period last year Not disclosed
Unit price and quantity metricsIndicator name Photography-related in-house-brand sales volume / Value 10 10,000 units / yoy_pct -3.7 10,000 units, Indicator name Photography-related OEM sales volume / Value 12 10,000 units / yoy_pct -35.5 10,000 units, Indicator name Total surveillance and factory automation sales volume / Value 39 10,000 units / yoy_pct 38.3 10,000 units
Assumptions Underlying the Business OutlookAssumptions Assumed full-year 2026 USD exchange rate / Value 148 yen, Assumptions Assumed full-year 2026 EUR exchange rate / Value 175 yen
Medium-term management plan targetsPlan name Value Creation26 ver.2.0 / Target fiscal year 2026 / Net Sales 95,000 million yen / Operating profit 20,500 million yen / Operating profit margin 21.6 % / Comparison with actual results Includes actual results for 2024 and 2025 and the 2026 plan
Financial targetsIndicator ROE / Target 16% or higher, Indicator EBITDA margin / Target 24% or higher
Market Size / ShareMarket Interchangeable-lens camera market / Number of versions +3%, Market Interchangeable-lens market / Amount +2%, Market In-house-brand value market share target / Value 7～8%
New initiativesInvestment in Light Touch Technology Co., Ltd., Renewal of the long-term vision, Launch of TAMRON-LINK wireless control accessory, iOS support for TAMRON Lens Utility, Launch of the 35-100mm F/2.8 VXD lens
Items this document does not state (10)
Progress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAnnual DividendPayout ratioAcquisition of treasury sharesCapital 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.

Sales of certain ordered models of photography-related OEM products were sluggish, resulting in lower revenue and a decline in gross profit due to an unfavorable product mix. Higher raw material and utility costs, as well as increased R&D and personnel expenses, also weighed on profit. Strong demand for surveillance and factory automation products, mobility and healthcare products, and other offerings limited the decline in revenue.

How to read this page

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Financial Results Briefing Materials for the First Quarter of the Fiscal Year Ending December 2026 | Tamron Co.,Ltd. (7740) timely disclosure | Komori