Tamron (7740) investor relations material

Executive summary

• Pursuing transformation from a lens manufacturer to a comprehensive optical and sensing solutions provider, targeting sustainable corporate value growth by 2035.

• Long-term vision emphasizes "Capture, Measure, Connect" for people and nature, focusing on healthcare, environmental sensing, and advanced optical technologies.

• Net sales increased by 3.8% year-over-year to ¥43,281 million for Q2 FY2026.

• Operating income declined by 16.5% year-over-year to ¥7,689 million.

• Comprehensive income rose sharply by 63.3% year-over-year to ¥7,641 million.

Financial highlights

• 1H FY2026 net sales rose 4% year-over-year, driven by double-digit growth in industrial segments, offsetting a 20% drop in Photo OEM sales.

• Operating profit fell 17% year-over-year due to lower high-margin Photo OEM revenue, cost inflation, and increased R&D and labor expenses.

• Gross margin declined to 41.9% from 45.3% year-over-year.

• Net income for 1H FY2026 was ¥6,197 million, up 8.7% versus forecast but down 9.9% year-over-year.

• Total assets increased to ¥109,240 million from ¥106,046 million at FY2025 year-end.

Outlook and guidance

• FY2026 net sales forecast revised upward to ¥93,000 million (+9.3% YoY), reflecting strong Automotive and Healthcare performance.

• Operating income maintained at ¥18,500 million (+11.2% YoY), absorbing ongoing cost pressures.

• Net income forecast at ¥13,690 million (+16.4% YoY); net income per share forecasted at ¥84.91 for FY2026.

• Photographic Products expected to recover in 2H; industrial segments to sustain growth.