Fujikura (5803) Q4 2025 earnings summary

Executive summary

• FY2024 net sales and profits at all stages reached record highs, with ordinary profit up for the third consecutive year and net profit for the fourth.

• Net sales rose 22.5% year-over-year to ¥979,375 million, operating profit up 95% to ¥135,519 million, and net profit attributable to owners up 78.6% to ¥91,123 million.

• Net sales and operating profit surpassed targets set in the 2025 Mid-term Management Plan.

• Strong demand for data centers, AI expansion, and favorable forex rates drove significant growth in Telecommunication Systems and Electronics.

• Productivity improvements and cost pass-throughs boosted Automotive Products' operating profit.

Financial highlights

• FY2024 net sales: ¥979.4B, up 22% year-over-year; operating profit: ¥135.5B, up 95%.

• Ordinary profit: ¥137.2B, up 97%; net profit attributable to owners: ¥91.1B, up 79%.

• Net profit per share: ¥330.32; annual dividend: ¥100.0 per share, up from ¥55.0.

• ROE improved to 24.4% from 16.7% year-over-year; operating profit margin rose to 13.8% from 8.7%.

• Free cash flow increased by ¥22.0B; net cash position improved as cash exceeded interest-bearing debt.

Outlook and guidance

• FY2025 net sales forecast: ¥957.0B (down 2%); operating profit: ¥122.0B (down 10%).

• Excluding forex and US tariff effects, underlying sales and profit are expected to rise.

• Dividend payout ratio for FY2025 set at 40%, with annual dividend forecast at ¥130.0 per share.

• Interim and full-year dividend forecasts are ¥65.00 and ¥130.00 per share, respectively.

• Net profit for FY2025 forecast at ¥90.0B, down 1.2%.