SCREEN Holdings (7735) Q2 2025 earnings summary

Executive summary

• Achieved record highs for 1H net sales and operating income, with both sales and profits increasing year-over-year, driven by robust demand in semiconductor and display equipment.

• Operating income increased 51.1% YoY to ¥58.2bn, and net income grew 47.4% to ¥38.8bn.

• Full-year earnings and dividend forecasts revised upward, supported by strong performance in SPE, GA, and FT segments.

• Interim dividend raised to ¥120 per share; annual dividend forecast increased to ¥247 per share.

• Growth was supported by capital investment in semiconductor miniaturization, packaging, and display manufacturing recovery.

Financial highlights

• 1H FY2025/03 net sales: ¥277.3bn, up 24.2% YoY; operating income: ¥58.2bn, up 51.1% YoY; net income: ¥38.8bn, up 47.4% YoY.

• Operating margin for 1H: 21.0%, up from 17.3% YoY.

• Net assets increased steadily to ¥395.2bn, equity ratio improved to 59.1%.

• Cash and cash equivalents at September 30, 2024: ¥198.4bn, up ¥3.0bn from March 31, 2024.

• Net cash provided by operating activities was ¥33.5bn for 1H FY2025/03.

Outlook and guidance

• Full-year FY2025/03 net sales forecast: ¥577.0bn; operating income: ¥113.5bn; net income: ¥80.0bn.

• All major profit metrics expected to hit record highs for the fourth consecutive year.

• Dividend forecast for FY2025 revised to ¥247 per share (post-split basis).

• R&D and CAPEX to focus on SPE and new business fields, with increased investment planned for 2H.

• Basic EPS forecast at ¥822.30.