ULVAC Revises FY2026 Earnings Down 33% Despite Revenue Gain
ULVAC (TSE:6728) has cut its operating profit forecast for the fiscal year ending June 2026 by one-third, citing margin pressure from lower-margin product mix and elevated EV-related costs, even as it raises revenue guidance.
| Item | Before | After | Change |
|---|---|---|---|
| Revenue | JPY 250.0bn | JPY 260.0bn | +4.0% |
| Operating Profit | JPY 28.5bn | JPY 19.0bn | -33.3% |
| Ordinary Income | JPY 28.5bn | JPY 19.0bn | -33.3% |
| Net Profit | JPY 20.0bn | JPY 18.5bn | -7.5% |
| EPS | JPY 405.99/share | JPY 375.97/share | JPY -30.02/share |
The vacuum equipment maker now projects revenue of JPY 260.0bn, up JPY 10.0bn from prior guidance, driven by stronger semiconductor, display, and general industrial demand. Order backlog has been raised to JPY 310.0bn. However, operating profit tumbles to JPY 19.0bn from JPY 28.5bn as high-margin power device and opto-device projects decline and the company absorbs increased electric vehicle-related expenses.
The profit compression reflects a structural shift in ULVAC’s order composition toward lower-margin segments, offset partially by volume gains. Ordinary income (keijo rieki)—a Japan-specific metric capturing operating profit plus non-operating items—mirrors the operating profit decline at JPY 19.0bn.
The company has also trimmed its year-end dividend to JPY 152.00/share from JPY 164.00/share, a 7.3% reduction. Management maintained its historical dividend payout ratio of approximately 40.4% to balance shareholder returns with earnings headwinds. Net profit falls to JPY 18.5bn, down 7.5% year-on-year. International investors should note the divergence between top-line growth and bottom-line contraction, signaling margin pressure despite demand recovery in core end-markets.
Source: Original filing (TDnet) | 日本語版
This article is for informational purposes only and does not constitute investment advice. Always verify against the original filing.