PILLAR (6490) Q3 2025 earnings summary

Executive summary

• Consolidated sales for Q3 FY2025 decreased by 1.5% year-over-year to 42,151 million yen, with operating income down 21.4% to 8,338 million yen and net income down 20.5% to 6,126 million yen.

• The Electronic Equipment Business saw a 4.6% decline in sales and a 21.9% drop in operating income due to weak semiconductor demand and higher fixed and one-time costs, while the Industrial Equipment Business achieved a 5.8% sales increase but a 19.1% decrease in operating income.

• Market recovery in semiconductors was slower than expected, leading to sluggish sales and orders, especially in the Electronic Equipment segment.

Financial highlights

• Q3 sales: 42,151 million yen (down 1.5% YoY); operating income: 8,338 million yen (down 21.4% YoY); net income: 6,126 million yen (down 20.5% YoY).

• Operating income ratio fell from 24.8% to 19.8% year-over-year.

• Electronic Equipment Business sales: 28,646 million yen (down 4.6% YoY); Industrial Equipment Business sales: 13,476 million yen (up 5.8% YoY).

• Depreciation costs increased by 600 million yen, and one-time anniversary expenses rose by 300 million yen.

• Ordinary profit was 8,737 million yen (down 22.1% YoY); comprehensive income was 4,726 million yen (down 49.6% YoY).

Outlook and guidance

• Full-year sales forecast revised downward to 57,000 million yen (down 2.7% YoY), and operating income to 11,000 million yen (down 22.6% YoY).

• Net income forecast for the year is 8,000 million yen (down 25.2% YoY).

• Dividend forecast remains unchanged at 125 yen per share, with a payout ratio of 32.4%.

• No recovery in the semiconductor market is expected in Q4; inventory adjustments are anticipated to continue into the next fiscal year.

• Earnings per share for the full year forecasted at 343.01 yen.