Worth reading
63In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
10.4
% (year-on-year decline in operating income)Wording
Avoiding a definitive answer
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales2,443,533million yenYear on year +0.5%
Operating profit624,936million yenYear on year -10.4%
Ordinary income630,338million yenYear on year -10.9%
Net income attributable to owners of the parent574,454million yenYear on year +5.6%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit.
Net income per share¥1,254.57
Operating Margin25.6%
Financial position at period-end
Total assets2,860,997million yen
of which net assets 2,069,996 million yenEquity ratio 71.5%vs. prior year-end +1.4pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+539,732
Investment-96,492
Financials-425,359
Net change+17,881
Stacked from zero: upward is an increase in cash, downward a decrease (in million yen).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period505,414 million yen
Regional sales239,427 million yen (YoY +26.0%), 2,204,106 million yen (YoY -1.7%)
Outlook and shareholder returns
Annual Dividend Forecast592 yen → 628 yen（+6.1%）
Payout ratio50.1%
Shareholder Return PolicyA target dividend payout ratio of 50% of net income attributable to owners of the parent. The policy is to pay an annual dividend per share of at least ¥50.
Factors Behind Changes in Business Performance
Growing demand for AI servers for data centers drove growth across the semiconductor market. While capital investment in China showed signs of leveling off, capital investment in semiconductor equipment for generative AI applications grew significantly. Operating profit declined due to the lower gross profit margin and higher selling, general and administrative expenses.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationAdded: 0 companies; excluded: 0 companies
Material subsequent eventsCancellation of treasury shares. Pursuant to a resolution of the Board of Directors held on 27 March 2026, 3,600,000 common shares were canceled on 30 April 2026. The shares represented 0.76% of the total number of shares issued before the cancellation.
Impairment loss931 million yen
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities 115,494 million yen, Other 5,231 million yen / Extraordinary loss Loss on disposal and sale of non-current assets 1,233 million yen, Impairment Losses 931 million yen, Provision for litigation loss 719 million yen
Depreciation and amortization80,982 million yen
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End471,632,733
Treasury Shares at Period-End16,783,041
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | 2,443,533 million yen (YoY +0.5%) |
| Operating profit | 624,936 million yen (YoY -10.4%) |
| Ordinary income | 630,338 million yen (YoY -10.9%) |
| Profit attributable to owners of the parent | 574,454 million yen (YoY +5.6%) |
| Net income per share | ¥1,254.57 |
| Operating Margin | 25.6% |
| Equity ratio | End of the current fiscal period 71.5% / End of previous period 70.1% |
| Total assets | 2,860,997 million yen |
| Net assets | 2,069,996 million yen |
| Cash flows from operating activities | 539,732 million yen |
| Cash flows from investing activities | -96,492 million yen |
| Cash flows from financing activities | -425,359 million yen |
| Cash and cash equivalents at end of period | 505,414 million yen |
| Annual Dividend Forecast | 592 yen → 628 yen（+6.1%） |
| Payout ratio | 50.1% |
| Shareholder Return Policy | A target dividend payout ratio of 50% of net income attributable to owners of the parent. The policy is to pay an annual dividend per share of at least ¥50. |
| Regional sales | 239,427 million yen (YoY +26.0%), 2,204,106 million yen (YoY -1.7%) |
| Depreciation and amortization | 80,982 million yen |
| Impairment loss | 931 million yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities 115,494 million yen, Other 5,231 million yen / Extraordinary loss Loss on disposal and sale of non-current assets 1,233 million yen, Impairment Losses 931 million yen, Provision for litigation loss 719 million yen |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | Added: 0 companies; excluded: 0 companies |
| Material subsequent events | Cancellation of treasury shares. Pursuant to a resolution of the Board of Directors held on 27 March 2026, 3,600,000 common shares were canceled on 30 April 2026. The shares represented 0.76% of the total number of shares issued before the cancellation. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 471,632,733 |
| Treasury Shares at Period-End | 16,783,041 |
| Factors Behind Changes in Business Performance | Growing demand for AI servers for data centers drove growth across the semiconductor market. While capital investment in China showed signs of leveling off, capital investment in semiconductor equipment for generative AI applications grew significantly. Operating profit declined due to the lower gross profit margin and higher selling, general and administrative expenses. |
Items this document does not state (5)
Full-year earnings forecastRevision to Earnings ForecastSegment revenueSegment profitOrders received and order backlog
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.While growing demand for AI servers for data centers drove growth across the semiconductor market, capital investment in China showed signs of leveling off. Capital investment in semiconductor equipment for generative AI applications grew significantly, but operating profit declined as the gross profit margin fell 1.8 percentage points year on year and selling, general and administrative expenses increased 7.6%.
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.