Disco : Presentation for FY2025 Financial Results

Published: 2026-04-22 03:18:22 ET 6146.T

Published on 04/22/2026 at 03:18 am EDT

DISCLAIMER

Statements in this PowerPoint with respect to DISCO's current strategies, plans, estimates, and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of DISCO. These statements are based on management's assumptions and beliefs in light of the information currently available to it and therefore you should not place undue reliance on them. DISCO cautions you that a number of important factors could cause actual results to differ materially from those discussed in the forward-looking statements, and you should not make decision on your investment thoroughly based on these statements. Such factors include, but not limited to, (i) general economic conditions and levels of demand in DISCO's markets; (ii) developments in technology and resulting changes in semiconductor and/or electronic component manufacturing process; (iii) levels of capital investment for manufacturing

semiconductors and/or electronic components; (iv) expansions of the area for products and technologies using semiconductors and/or electronic components and its expanding speed; (v) DISCO's ability to continue to offer products and services corresponding to developments of new semiconductors and/or electronic components and new technologies for manufacturing them;

(vi) exchange rates, particularly between the yen, the U.S. dollar, and the euro, and other currencies.

Net sales

436.8 B yen

Previous year : 393.3 B yen

Record high

Operating income

184.9 B yen

Previous year : 166.8 B yen

Record high

GP margin

70.1 %

Previous year : 70.6 %

Operating income margin

42.3 %

Previous year : 42.4 %

CAPEX

32.7 B yen

Previous year : 69.8 B yen

R&D

34.1 B yen

Previous year : 31.6 B yen

Total assets

743.4 B yen

Previous year : 654.0 B yen

Ordinary income margin averaged over a four-year period

41.4 %

Previous year : 40.0 %

EPS

1,249.84 yen

Previous year :1,143.26 yen

Record high

Annualdividend

505 yen

Per share

Previous year : 413 yen

Record high

FCF

-2.2 B yen

Previous year : 52.3 B yen

ROE

25.1 %

Previous year : 27.6 %

FY2025 Highlights

Billions of Yen

FY2025

Net Sales

133.1

Gross Profit

94.4

Gross Profit Margin

70.9%

SG&A

35.6

Operating Income

58.8

Ordinary Income

58.5

Ordinary Income Margin

44.0%

Income before income taxes and minority interests

58.4

Net Income

42.9

FY2025

QoQ

Amount (%)

109.3

23.8

21.7%

78.1

16.3

20.9%

71.4%

-0.5p

30.7

4.9

16.0%

47.3

11.4

24.2%

47.0

11.5

24.5%

43.0%

1.0p

46.8

11.6

24.9%

36.7

6.2

16.8%

FY2024

YoY

Amount (%)

120.7

12.3

10.2%

84.2

10.2

12.1%

69.8%

1.1p

32.5

3.1

9.7%

51.7

7.0

13.6%

51.9

6.6

12.8%

43.0%

1.0p

51.5

6.9

13.5%

38.6

4.2

11.0%

Sales:

GP margin: SG&A:

YoY Increased due to progress in equipment inspection/acceptance and steady consumable shipments. YoY Increased profitability from high value-added products and due to the influence of the exchange rate. YoY Increased due to an increase in personnel and R&D expenses.

FY2025 4Q Earnings Results

‌Billions of Yen

FY2025

Full Year

Net Sales

436.9

Gross Profit

306.5

Gross Profit Margin

70.1%

SG&A

121.5

Operating Income

185.0

Ordinary Income

184.9

Ordinary Income Margin

42.3%

Income before income taxes and

minority interests

183.8

Net Income

135.5

FY2024

Full Year

YoY

Amount

(%)

393.3

43.6

11.1%

277.6

28.9

10.4%

70.6%

-0.5p

110.7

10.8

9.7%

166.8

18.2

10.9%

168.9

16.0

9.5%

43.0%

-0.7p

168.1

15.7

9.3%

123.9

11.6

9.4%

Net Sales: Increased due to an increase in shipments for generative AI and progress in inspection/acceptance. GP margin: Remained at a high level despite a slight decrease due to changes in the product and application mix. SG&A: Increased mainly due to an increase in personnel and R&D expenses.

FY2025 Earnings Results

Billions of Yen

150.0

140.0

130.0

120.0

110.0

100.0

90.0

80.0

70.0

60.0

50.0

40.0

30.0

20.0

10.0

0.0

Due to the change in accounting policy, the timing of revenue recognition has been changed to Inspection/Acceptance Basis.

50%

40%

30%

20%

10%

FY16

FY17

FY18

FY19

FY20

FY21

FY22

FY23

FY24

FY25

FY25 4Q Operating income margin 44.2％, Ordinary income margin 44.0%, Net income margin 32.2% Note: Detailed data is available in the Consolidated Financial Information on DISCO's website.

Quarterly Financial Results

Billions of Yen

Other

Maintenance Parts

Precision Processing Tools (Consuma bles)

Precision Processing Equipment

140.0

130.0

120.0

110.0

100.0

90.0

80.0

70.0

60.0

50.0

40.0

30.0

20.0

FY21_1Q

FY22_1Q

FY23_1Q

FY24_1Q

FY25_1Q

10.0

Note: Composition percentages are available in the "Consolidated Financial Information" on DISCO's website.

Quarterly Sales Breakdown by Product

Billions of Yen

Asia

Japan

Europe

North America

140.0

130.0

120.0

110.0

100.0

90.0

80.0

70.0

60.0

50.0

40.0

30.0

20.0

FY21_1Q

FY22_1Q

FY23_1Q

FY24_1Q

FY25_1Q

10.0

FY25 4Q Overseas sales ratio: 87.6%

Quarterly Sales Breakdown by Region

Billions of Yen

140.0

130.0

120.0

110.0

100.0

90.0

80.0

70.0

60.0

50.0

40.0

30.0

20.0

10.0

FY16_1Q

FY17_1Q

FY18_1Q

4Q FY19_1Q

4Q FY20_1Q

4Q FY21_1Q

FY22_1Q

FY23_1Q

FY24_1Q

FY25_1Q

0.0

FY25 4Q Shipment volume: 121.6 billion yen (record high)

Quarterly Shipments

Shipment Basis

Precision Processing Equipment

Non-semiconductors

Wafer manufacturing

Other semiconductors

Optical semiconductors

Package singulation

FY21_1Q

FY22_1Q

FY23_1Q

FY24_1Q

FY25_1Q

QoQ An increase in sales for IC, mainly for generative AI, boosted overall sales. YoY IC applications grew supported by the strong demand for generative AI.

Precision Processing Equipment: Sales by Application

Shipment Basis

Dicer

Non-semiconductors

Other semiconductors

Optical semiconductors

Package singulation

FY21_1Q

FY22_1Q

FY23_1Q

FY24_1Q

FY25_1Q

QoQ Increased for IC, mainly for generative AI and OSATs.

YoY Although sales for other semiconductor applications, mainly power semiconductors, decreased, sales for IC applications increased.

Dicer: Sales by Application

Shipment Basis

Grinder

Non-semiconductors

Wafer manufacturing

Other semiconductors

Optical semiconductors

FY21_1Q

FY22_1Q

FY23_1Q

FY24_1Q

FY25_1Q

QoQ Although sales for IC remained steady,

sales for other semiconductor applications, mainly power semiconductors, decreased.

YoY Although sales for other semiconductor applications, mainly power semiconductors, decreased,

sales for IC applications increased.

Grinder: Sales by Application

FY21_1Q

FY22_1Q

FY23_1Q

FY24_1Q

FY25_1Q

Increased from the previous quarter driven by factors such as customer equipment operating rates, and hit a record high

Precision Processing Tools Sales (Cons umables)

‌Billions of Yen

FY2025

Cash and deposits

284.6

Notes and account receivable

57.5

Inventories

141.3

Total current assets

494.6

Property, plant and equipment

223.2

Total noncurrent assets

248.8

Total assets

743.4

FY2025

Amount

246.1

38.4

50.8

6.7

141.6

-0.3

447.0

47.6

211.6

11.7

231.3

17.5

678.3

65.1

Current liabilities

154.5

Noncurrent liabilities

0.8

Total liabilities

155.3

Total net assets

588.1

Total liabilities and net assets

743.4

134.7

19.7

0.9

-0.1

135.7

19.6

542.6

45.5

678.3

65.1

Equity Ratio

78.9%

79.8%

-0.9p

Total assets: Liabilities:

Increased mainly due to an increase in cash and deposits and property, plant and equipment. Increased mainly due to an increase in provision for bonuses and income taxes payable.

Balance Sheet (Summary)

Billions of Yen

FY2025

Full Year

FY2024

Full Year

Amount

Net cash provided by (used in) operating activities

133.5

120.4

13.2

Income before income taxes and minority interests

183.8

168.1

15.7

Depreciation and amortization

14.8

12.2

2.6

Decrease (increase) in notes and accounts

receivable-trade

-11.0

2.9

-13.9

Decrease (increase) in inventories

-0.2

-24.6

24.4

Increase (decrease) in notes and accounts payable-

trade

-10.7

-4.8

-5.9

Income taxes (paid) refund

-55.1

-37.7

-17.4

Others

11.9

4.3

7.7

Net cash provided by (used in) investing activities

-135.8

-68.0

-67.8

Purchase of property, plant and equipment

-35.1

-66.9

31.7

Others

-100.6

-1.1

-99.5

Free cash flow

-2.2

52.4

-54.6

Net cash provided by (used in) financing activities

-45.0

-38.2

-6.9

Cash dividends paid

-45.3

-38.5

-6.8

Net change in of cash and cash equivalents

-44.6

13.7

-58.3

Cash and cash equivalents at beginning of period

229.2

215.5

13.7

Cash and cash equivalents at end of period

184.6

229.2

-44.6

‌Sales cash flow: approx. 133.5 B yen (increase) Increased mainly due to income before taxes

Investment cash flow: approx. JPY 135.7 B (decrease)

Cash outflows were incurred for the acquisition of property, plant and equipment and for time deposits (100 B yen).

Free cash flow: approx. JPY 2.2 B (decrease)

Financial cash flow: approx. JPY 45.0 B (decrease) Decreased mainly due to dividend payout

→Cash balance as of the end of March: approx. JPY 184.5 B Supplement:

Cash and deposits balance on the balance sheet is approx. 284.5 B yen. Surplus funds available for an additional dividend were calculated based on the balance of "Cash and deposits" on the balance sheet.

Cash Flow (Summary)

‌Dividend Policy

Decisions concerning the distribution of surpluses are made at the general shareholders meetings, in the case of final dividends, and by the Board of Directors, in the case of interim dividends.

1. Adopting a performance-linked dividend policy and aiming at giving clearer priority to shareholder returns, our target dividend payout ratio is 25% of the consolidated half-yearly net income. There will be interim and final dividends, each of which will be equivalent to 25% of the half-yearly consolidated net income.

2. Irrespective of the level of income, a reliable dividend of ¥10 per half-year will be maintained. This means that the minimum yearly dividend will be ¥20.

3. Unless there is a loss, if the year-end balance of cash and deposits after payment of dividends and income taxes is greater than the projected funding requirements for the acquisition of technology resources, such as through patent purchases and investments in venture businesses, facility expansion, the retirement of interest-bearing debt, and other purposes, one-third of that surplus will be added to dividends .

[Remarks]

The ¥20 payout stipulated in our stable dividend policy may be reviewed if there are consolidated net losses for three consecutive years.

600

500

400

300

200

100

Yen

62%

55%

57%

44%

192

40%

126

40.4%

36.1%

38%

40%

163

184

124

129

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

80%

60%

40%

20%

Additional Dividends

2H Dividend Per Share

1H Dividend Per Share

Dividend Payout Ratio

FY25 (actual figure) Interim: 129 yen Year-end: 376 yen Annual: 505 yen (record high)

*The Company implemented a stock split in the proportion of 1 share into 3 shares effective as of April 1, 2023

Dividend Policy and Dividend Payments

Working capital

Funds for facility extensions

16.4

B yen

34.9

B yen

Taxes, dividends, etc.

72.8

B yen

Hiroshima Works new plant, etc.

Consolidated net

sales for the ÷ 12 months x 2 months

previous period

Breakdown of funds necessary:

*Year-end balance of

cash deposits

218.5 B yen

Funds necessary

156.1 B yen

Surplus funds

62.4 B yen

Reserve funds for technology acquisitions

(including M&As)

Average consolidated net x 10％ sales for the past 3 years

32.0

B yen

Funds for repaying long-term interest-bearing debt

Linked to business performance and financial status

Plan-based

provisions １/３

Additional dividends

*Contract liabilities (advances received) are taken into account.

Formula for calculating additional dividends

Billions of Yen Forecast

FY25 1Q

FY26 1Q

Net Sales

89.9

104.6

109.3

133.1

106.1

Operating Income

34.5

44.4

47.3

58.8

42.0

Ordinary Income

34.0

45.5

47.0

58.5

42.3

Net Income

23.8

32.1

36.7

42.9

29.5

Operating Income Margin

38.4%

42.4%

43.3%

44.2%

39.6%

Ordinary Income Margin

37.8%

43.5%

43.0%

44.0%

39.9%

Net Income Margin

26.5%

30.7%

33.6%

32.2%

27.8%

Shipment Figures

111.1

96.3

113.6

121.6

132.0

*Rounded to the nearest 100 million yen

Assumed exchange rate for 1Q (Apr-Jun): 1 US dollar = 157 yen, 1 euro = 181 yen

Currency sensitivity (annualized) US dollar: Approx. 1.7 billion yen, Euro: Approx. 0.1 billion yen

Earnings Forecast 1Q FY2026

Shipment Basis

Product

Forecast FY26 1Q

（QoQ）

Blade dicers Laser Saws

15%

Dicers

15%

Grinders

25%

Acces sory Equipment

15%

Precision Processing Equipment

20%

Precision Processing Tools (Cons um ables )

Others

-20%

Sales Forecast By Product

‌Billions of Yen

80.0

70.0

60.0

50.0

40.0

30.0

20.0

10.0

FY16

FY17

FY18

FY19

FY20

FY21

FY22

FY23

FY24

FY25

0.0

FY26 Forecast

CAPEX:

Depreciation: R&D Expenses:

Approx. 33.0 billion yen; including rationalization investment, reconstruction of the Haneda R&D Center, and construction of a new plant. Approx. 15.0 billion yen

Approx. 36.0 billion yen; proactive research and development continues.

R&D/CAPEX Forecast

Real Estate

for R&D

Haneda R&D

Center

Haneda R&D Center New Building

Hiroshima Works New Plant

Expense for purchasing equipment and facilities

FY2 1

FY2 2

FY2 3

FY2 4

FY2 5

FY2 6

FY2 7

Forecast

Breakdown of CAPEX

Real Estate for R&D:

Haneda R&D Center new building: Hiroshima Works new plant:

Approx. 50 billion yen

Approx. 14 billion yen Approx. 33 billion yen

Payment timing: FY24

Payment timing: FY25~27 Payment timing: FY25~27

Disclaimer

Disco Corporation published this content on April 22, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 22, 2026 at 07:17 UTC.