Optorun (6235) investor relations material

Executive summary

• Orders for 1Q FY12/26 surged 71% YoY (12% QoQ) to ¥14.8bn, led by AI smartphones and optical communications, exceeding projections by ¥4.0bn.

• Net sales for Q1 2026 were ¥6,968 million, down 11.8% YoY, with operating profit down 32.3% to ¥511 million and a net loss of ¥83 million due to shipment timing, equity losses, and deferred taxes.

• Ordinary profit dropped 61.3% YoY to ¥286 million; comprehensive income was negative ¥1,391 million, a significant reversal from the prior year.

• Order backlog reached ¥39.9bn (+66% YoY), the highest since 3Q FY12/22.

• Strategic investments, including SeeYA Technology's IPO, boosted investment securities from ¥4.2bn to ¥33.2bn and net assets from ¥57.6bn to ¥80.6bn.

Financial highlights

• 1Q FY12/26: Orders ¥14.8bn (+71% YoY), sales ¥7.0bn (-12% YoY), OP ¥511mn (-32% YoY), RP ¥287mn (-61% YoY), net loss ¥83mn.

• Gross profit for Q1 2026 was ¥2,336 million, down from ¥2,612 million in Q1 2025.

• Smartphone-related orders rose 263% YoY to ¥6.9bn; optical components up 183% YoY to ¥5.3bn; EV/connected car orders dropped 83% YoY to ¥0.6bn.

• Basic earnings per share was negative ¥2.08, compared to ¥19.33 in the prior year.

• Total assets increased to ¥119,202 million as of March 31, 2026, from ¥86,146 million at year-end 2025.

Outlook and guidance

• FY12/26 guidance: Net sales ¥38.2bn (+13% YoY), OP ¥6.2bn (+86% YoY), RP ¥7.4bn (+131% YoY), net income ¥5.6bn (+89% YoY), EPS ¥140.48.

• Order intake and backlog support maintaining guidance despite 1Q lag; risk remains for component shortages.

• AI smartphone and optical communications segments expected to outperform initial full-year targets.

• 2Q FY12/26 guidance: Orders expected at ¥10bn, with continued strength in smartphones and optical communications.

• Profit attributable to owners of parent expected to reach ¥5,600 million, up 89.2% YoY.