Lasertec (6920) investor relations material

Executive summary

• Net sales for FY2026 were JPY 230.5 billion, down 8.3% year-over-year, but exceeded full-year forecasts due to a strong recovery in orders, especially for ACTIS and MATRICS mask inspection systems.

• Operating income decreased 14.3% year-over-year to JPY 105.3 billion; net income fell 8.5% to JPY 77.5 billion.

• Orders surged 125.7% year-over-year to JPY 237.5 billion, with backlog rising to JPY 322.9 billion, reflecting robust demand and positive FX impact.

• R&D expenses surpassed forecasts, supporting ongoing technology development for advanced semiconductor nodes.

Financial highlights

• Gross profit was JPY 136.5 billion, down from JPY 148.3 billion the previous year; gross margin remained high at 59.2%.

• Operating margin was 45.7% for FY2026.

• Comprehensive income was JPY 80.1 billion, a 3.6% decrease year-over-year.

• Cash and cash equivalents at year-end were JPY 91.5 billion, up JPY 5.4 billion from the prior year.

• Dividend per share for the year was JPY 329, with a payout ratio of 38.1%.

Outlook and guidance

• FY2027 forecast: net sales JPY 290.0 billion (+25.8% YoY), operating income JPY 125.0 billion (+18.8%), net income JPY 90.0 billion (+16.2%).

• Record-high sales and profits expected, driven by robust semiconductor demand and expansion in mask inspection systems.

• R&D expenses projected to rise to JPY 20.0 billion; capital expenditure to JPY 5.7 billion.

• Dividend forecast for FY2027 is JPY 351 per share, maintaining a payout ratio near 35%.