Fujitec (6406) Q3 2025 earnings summary

Executive summary

• Achieved record highs in orders, net sales, and operating income for Q3 FY2024, with strong growth in Japan, South Asia, and The Americas & Europe.

• Net sales for the nine months ended December 31, 2024, rose 6.7% year-over-year to 178,102 million yen, with operating income up 27.4% to 13,816 million yen and ordinary income up 15.5% to 16,681 million yen.

• Profit attributable to owners of parent declined 28.9% year-over-year to 11,149 million yen, mainly due to the absence of prior-year gains from asset sales.

• Launched the "Move On 5" medium-term plan, targeting 325 billion yen in net sales and 44 billion yen in operating income by FY2028.

• Major orders included large projects in Japan, India, China, Hong Kong, Korea, 160 escalators for Taipei Twins in Taiwan, and 239 elevators for Chennai Metro in India.

Financial highlights

• Orders received rose 8.7% year-over-year to 194.1 billion yen; order backlog up 9.3% to 286.2 billion yen.

• Net sales up 6.7% to 178.1 billion yen; operating income increased 27.4% to 13.8 billion yen; ordinary income up 15.5% to 16.7 billion yen.

• Operating income margin improved to 7.8% from 6.5% a year earlier.

• Profit attributable to owners of the parent fell 28.9% to 11.1 billion yen, mainly due to a special gain in the prior year.

• Net assets per share increased to 1,913.95 yen as of December 31, 2024.

Outlook and guidance

• FY2024 net sales forecast revised to 242.0 billion yen (up 5.5% year-over-year), operating income to 16.2 billion yen (up 11.2%).

• Net income forecast at 14.2 billion yen, down 20.4% year-over-year, reflecting restructuring costs and deferred tax asset reductions in China.

• Downward revision mainly reflects lower sales and profit in East Asia due to the real estate recession in China and additional restructuring costs.

• Annual dividend maintained at 165 yen per share, with year-end dividend forecast at 90 yen per share.