Rorze (6323) Q1 2025 earnings summary

Executive summary

• Q1 revenue rose 75.5% year-over-year to ¥29,288 million, driven by strong semiconductor equipment sales to China, normalization of inventories, and favorable currency effects.

• Operating profit increased 85.4% year-over-year to ¥8,748 million, with net profit up 146.7% to ¥8,774 million.

• The semiconductor and FPD equipment segment led growth, with sales of ¥29,135 million (+75.6%) and segment profit of ¥8,962 million (+83.0%).

• Sales to China surpassed the US for the fourth consecutive quarter, making China the largest regional market.

• Comprehensive income for the quarter was ¥11,830 million, up 205.9% year-over-year.

Financial highlights

• Semiconductor equipment sales grew 91.9% year-over-year to ¥26,836 million.

• Gross profit increased to ¥17,659 million from ¥9,749 million year-over-year.

• Total assets at quarter-end were ¥161,752 million, up ¥5,615 million from the previous fiscal year-end.

• Equity ratio improved to 62.4% from 59.1% at the previous year-end.

• Orders for semiconductor equipment remained high, though Q1 orders declined sequentially after a surge in the previous quarter.

Outlook and guidance

• Full-year revenue forecast remains unchanged at ¥120,784 million (+29.5% year-over-year), with operating income projected at ¥31,617 million (+31.0%).

• Net income forecast for the year is ¥22,916 million (+17.1%), with EPS guidance reflecting a planned 10-for-1 stock split.

• Q1 progress rates: 24.2% of full-year revenue and 38.3% of full-year net profit targets achieved.