Fanuc (6954) Q2 2025 earnings summary

Executive summary

• Net sales for the first half of FY2024 were ¥388.0B, down 2.7% year-over-year but up 0.7% from forecast.

• Operating income rose 13.6% year-over-year to ¥75.6B, with margin improving to 19.5%.

• Net income increased 9.4% year-over-year to ¥69.9B, representing 18.0% of net sales.

• Ordinary income for 1H FY2024 was ¥94.8B, up 10.0% year-over-year.

• Comprehensive income dropped 46.9% to ¥63.5B due to negative foreign currency translation adjustments.

Financial highlights

• Cost of sales ratio improved to 62.8% in 1H FY2024 from 66.7% in 1H FY2023.

• Gross profit improved to ¥144.3B from ¥132.9B year-over-year.

• Net income per share increased to ¥74.17 from ¥67.10 year-over-year.

• Cash and cash equivalents at period end were ¥481.1B, down ¥45.7B from March 31, 2024.

• Total assets decreased to ¥1,902.5B, and net assets to ¥1,699.7B as of September 30, 2024.

Outlook and guidance

• FY2024 net sales forecast revised to ¥787.8B, down 0.9% from FY2023 but up 0.4% from previous forecast.

• Operating income forecast raised to ¥150.8B (19.1% margin), up 6.3% from previous forecast.

• Net income forecast increased to ¥134.3B, up 7.2% from previous forecast.

• Net income per share for FY2024 projected at ¥142.99.

• FX assumptions for 2H: ¥135/USD and ¥150/EUR.