Optorun (6235) Q4 2025 earnings summary

Executive summary

• Orders received in Q4 FY12/2025 rose 27% quarter-on-quarter and 72% year-on-year to ¥13.3 billion, surpassing plan by ¥3.7 billion, with strong demand in smartphones, automotive, and optical communications.

• Full-year FY12/2025 sales recovered to ¥41.2 billion, up 43% year-on-year, the third-highest on record, but profits declined due to temporary expenses and affiliate impacts.

• Net sales increased by 4.5% year-over-year to ¥33,861 million for FY2025, but operating profit dropped 49.2% to ¥3,334 million and profit attributable to owners of parent fell 53.4% to ¥2,959 million.

• Comprehensive income decreased 47.5% year-over-year to ¥5,268 million.

• FY12/2026 guidance projects net sales of ¥38.2 billion (+13% YoY), operating profit of ¥6.2 billion (+86%), ordinary profit of ¥7.4 billion (+131%), and net income of ¥5.6 billion (+89%).

Financial highlights

• FY12/2025 operating profit fell 49% YoY to ¥3.3 billion due to ¥1.3 billion in temporary expenses (inventory impairment, doubtful accounts).

• Ordinary profit dropped 61% YoY to ¥3.2 billion, impacted by affiliate deconsolidation and increased development costs.

• Net income attributable to owners decreased 53% YoY to ¥3.0 billion, despite a ¥1.0 billion gain from share sales.

• Gross profit margin declined to 33.8% (down 11.0pp YoY), but excluding one-time impacts, margin was 37.6%.

• Basic earnings per share decreased to ¥73.30 from ¥145.31 year-over-year.

Outlook and guidance

• FY12/2026 expects sales growth of 13% YoY, operating profit up 86%, and net income up 89%.

• Gross profit margin projected to exceed 37.6% (excluding temporary impacts).

• Dividend forecast for FY2026 is ¥56.00 per share.

• Non-operating income/expense to improve by ¥1.3 billion YoY, driven by affiliate profitability.

• Orders for smartphones, automotive, and optical communications expected to remain strong, with optical communications orders projected to rise 40% YoY.