Ibiden (4062) investor relations material

Executive summary

• Q1 FY2026 net sales rose 26.4% year-over-year to JPY 123.2 billion, with electronics contributing JPY 75.5 billion and strong demand for GPUs and high-end CPUs driving sales above initial plans.

• Comprehensive income decreased 8.8% year-over-year to JPY 19,190 million.

• Ceramics segment saw a temporary DPF order increase, but the automotive sector outlook remains unpredictable.

• Full-year earnings forecast revised upward due to robust electronics demand and pricing, while ceramics is expected to decline in H2.

Financial highlights

• Q1 operating profit was JPY 26.9 billion, with electronics at JPY 21.4 billion; gross profit increased by JPY 9,801 million year-over-year to JPY 44,873 million.

• H1 revenue forecast raised to JPY 253.5 billion (+10%), operating profit to JPY 54.5 billion (+43%), and net profit to JPY 34 billion (+48%, margin 13.4%).

• FY2026 revenue forecast increased to JPY 550 billion (+10%), operating profit to JPY 127 billion (+41%), and net profit to JPY 84 billion.

• Basic earnings per share for Q1 were JPY 64.14, reflecting a stock split.

• Cash and deposits rose to JPY 373,366 million, up JPY 77,684 million from March 2026.

Outlook and guidance

• Full-year FY2026 net sales forecast is JPY 550 billion, with operating income expected to double to JPY 127 billion and profit attributable to owners of parent projected at JPY 84 billion.

• Electronics segment expected to maintain high capacity utilization and strong pricing, especially for high-value-added products.

• Ceramics segment forecasted to decline in sales and profit in H2; other segments anticipated to achieve sales and profit growth.

• Capacity enhancement decisions to be accelerated, with potential investments in new plants and land.