Recovery in robot business orders and deliveries is the key issue for FY2026-Q3

Under the five-segment disclosure for FY2026-H1, the PCB business reported revenue of ¥360 million and segment profit of ¥47 million. The real estate leasing business reported revenue of ¥55 million and segment profit of ¥45 million. The semiconductor processing business reported revenue of ¥47 million and a segment loss of ¥7 million, while the robot business reported revenue of ¥144 million and a segment loss of ¥206 million. Other businesses reported revenue of ¥37 million and segment profit of ¥8 million. Total reported segment revenue was ¥609 million and the segment loss was ¥120 million, with the robot business deficit significantly weighing on overall profitability.

Robot business revenue fell by ¥376 million, or 72.2%, from ¥520 million in the same period of the previous fiscal year, while the segment loss widened by ¥23 million from ¥183 million. The company explained that a business that had contributed increasingly to consolidated revenue through the previous fiscal year experienced delays in new orders and deliveries this year because of quality issues and problems in robot operations. At the next results announcement, it will be necessary to confirm not only whether revenue increased, but also how far the investigation into the causes, corrective measures, customer reactivation and delivery resumption have progressed.

PCB business revenue increased 13.3% year on year, while real estate leasing revenue increased 24.3%, with the two businesses generating combined segment profit of ¥92 million. This profit, however, was insufficient to absorb the robot business segment loss of ¥206 million. Semiconductor processing revenue also fell 72.3% year on year to ¥47 million, while its loss widened from ¥6 million to ¥7 million. Recovery in orders for the new processing business after the cancellation of projects therefore needs to be monitored alongside the robot business.

For FY2026-Q3, the first measures will be how much nine-month cumulative robot business revenue has increased from ¥144 million and whether the segment loss has narrowed from ¥206 million. Quantity KPIs such as order intake, order backlog, units delivered and units in operation were not disclosed as of H1. It will therefore be important to see whether the Q3 materials provide these figures, or at least explain the resolution of order and delivery delays by amount or number of projects.