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SMC
SMC (6273) investor relations material
SMC Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary13 Nov, 2025
Executive summary
Net sales for the first half of FY2025 increased 1.3% year-over-year to ¥400,272 million, mainly due to volume growth in Greater China, while operating profit declined 8.8% due to foreign exchange impacts and higher depreciation.
Profit attributable to owners rose 1.3% to ¥79,185 million, but comprehensive income surged 152.4% year-over-year due to foreign currency translation gains.
Full-year guidance was revised downward, reflecting delayed recovery in semiconductor-related business and sluggish demand in automotive outside China.
Capital investment and R&D spending remain robust, with significant ongoing investments in production and technical centers.
Financial highlights
FY25/2Q net sales: ¥400.2B (+1.3% YoY); operating profit: ¥90.7B (-8.8% YoY); net profit: ¥79.1B (+1.3% YoY).
Gross profit margin decreased to 45.2% from 47.0% YoY; gross profit for the period was ¥181,040 million.
Depreciation rose 30.2% YoY; R&D expenses up 9.3% YoY; capital expenditures for six months were ¥111,208 million, up 160.8% YoY.
Interim dividend of ¥500/share (total ¥31.6B); treasury stock repurchase of ¥21.8B.
Basic earnings per share for six months was ¥1,245.60, up from ¥1,219.46 YoY.
Outlook and guidance
Full-year net sales forecast revised to ¥816.0B (-4.0% from previous forecast); operating profit to ¥183.0B (-14.9%); profit attributable to owners to ¥153.0B.
Basic earnings per share for the year ending March 31, 2026, is projected at ¥2,406.70.
Forecasts reflect updated FX assumptions: USD/JPY 147.10, EUR/JPY 172, CNY/JPY 20.60.
Semiconductor recovery now expected in FY2026; automotive demand remains weak outside China.
Annual dividend forecast maintained at ¥1,000/share.
Explain the key factors driving the FY26 profit forecast reduction
Justify aggressive capex amid mixed demand
Quantify the impact of new consolidations on key financials
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Next SMC earnings date
Q3 202612 Feb, 2026
SMC
Next SMC earnings date
Q3 202612 Feb, 2026
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Frequently asked questions
SMC Corporation is a global leader in pneumatic control engineering aimed at supporting industrial automation. The company specializes in developing a wide array of control systems and equipment, including directional control valves, actuators, air line equipment, and more, catering to a variety of applications across multiple industries. SMC's extensive product range also encompasses valves, manifolds, regulators, fittings, tubing, flow switches, and several other flow control products, as well as equipment for chemical handling, secondary battery manufacturing, sensors and switches, vacuum equipment, and electric actuators. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.
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