Ferrotec — First-quarter net sales exceed ¥180 billion; full-year forecast revised upward

Ferrotec announced its consolidated results for the first quarter of the fiscal year ending December 2026, reporting net sales of ¥182.437 billion, operating profit of ¥28.071 billion, ordinary profit of ¥27.279 billion and quarterly net profit attributable to owners of the parent of ¥21.519 billion. The period covered by the consolidated results varies because the settlement dates of consolidated subsidiaries, including 31 March, differ, resulting in an irregular calculation period.

By segment, revenue from the semiconductor and equipment-related business was ¥118.153 billion, with operating profit of ¥16.073 billion. Orders for vacuum seals and metal-processing products for manufacturing equipment remained strong among manufacturers in China and the United States. Semiconductor materials products grew on increased capital investment and higher capacity utilization, while the parts-cleaning service performed well in line with the operation of factories in China.

Revenue from the electronic devices business was ¥39.954 billion, with operating profit of ¥11.783 billion. Shipments of thermoelectric modules were strong following the launch of new models for AI data centers, while sensor sales increased, driven mainly by demand related to communications. The automotive-related business recorded revenue of ¥16.046 billion and operating profit of ¥1.098 billion. Although sales of power semiconductor substrates recovered, demand for thermoelectric modules for EVs was somewhat sluggish.

Revenue from other businesses was ¥8.283 billion, with an operating loss of ¥442 million. Overall, Ferrotec disclosed an upward revision to its full-year earnings forecast at the same time as announcing its results, setting full-year net sales at ¥380.000 billion, operating profit at ¥60.000 billion, ordinary profit at ¥55.000 billion and net profit attributable to owners of the parent at ¥36.000 billion.