Hamamatsu Photonics K.k. · TSE:6965

Hamamatsu Photonics K.k — Q2 FY2026 Earnings Presentation

29 slides from Hamamatsu Photonics K.k's earnings presentation, May 2026

  1. Slide 1: Fiscal Year ending September 30, 2026 Second Quarter Report

    Fiscal Year ending September 30, 2026 Second Quarter Report Tokyo Stock Exchange : 6965 May 2026 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 1

  2. Slide 2: Point

    Point ┃FY2026 1H Results 1H: YoY sales growth with operating profit decline Q2: Sales and operating profit growth both YoY and QoQ Sales 112.4 (+5.4 ％ YoY) Operating profit 10.0 (-7.0 ％ YoY) • Industrial performed well, supported by strong Operating profit (Unit: Billion yen) investment driven by ge

  3. Slide 3: Agenda

    Agenda 01 FY2026 1H Results 02 FY2026 Forecasts 03 TOPIC 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.

  4. Slide 4: Agenda: FY2026 1H Results

    Agenda 01 FY2026 1H Results 02 FY2026 Forecasts 03 TOPIC 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.

  5. Slide 5: Financial Results

    Financial Results Industrial performed well, supported by strong investment driven by generative AI Medical-bio saw an improvement in the demand environment as the prolonged inventory adjustment cycle ran its course (Unit: Billion yen) FY2025 FY2026 YoY 1H 1H Change ％ Sales 106.7 112.4 5.7 5.4 52.5

  6. Slide 6: Quarterly Changes

    Quarterly Changes Sales (Unit: Billion yen) Operating profit (Unit: Billion yen) 60.5 7.6 56.1 56.5 51.9 6.4 48.7 3.8 1.5 2.4 FY25 Q2 FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 FY25 Q2 FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 6

  7. Slide 7: Sales by Application

    Sales by Application (Unit: Billion yen) FY2025 FY2026 YoY 1H 1H Change ％ Industrial 37.5 39.2 1.6 4.5 Medical-bio 30.2 33.0 2.7 9.1 Analytical 12.7 13.2 0.4 3.2 Academic Research 11.0 9.8 -1.2 -11.5 Measuring 5.0 6.1 1.1 22.1 Transport 2.4 2.2 -0.1 -8.2 Others/not classified 7.5 8.8 1.2 17.0 Total

  8. Slide 8: Sales by Region

    Sales by Region Asia Japan Asia Japan 31.7 24.4 33.5 24.8 (29.8 %) (22.9 %) (29.8 %) (22.1 %) FY2025 1H FY2026 1H 106.7 Billion yen 112.4 Billion yen Europe North America Europe North America 25.3 24.9 26.2 27.5 (23.7 %) (23.4 %) (23.3 %) (Unit: Billion yen) (24.5 %) FY2025 1H FY2026 1H Change % Jap

  9. Slide 9: Factors of Operating Profit Changes

    Factors of Operating Profit Changes Excluding impact of currency fluctuation (Unit: Billion yen) Decrease due to lower 1.5 gross profit margin 10.7 Increase in gross 0.9 10.0 profit due to increase in sales -2.4 Impact by currency -0.7 Increase in SG&A and fluctuation R&D expenses Exchange rate Impa

  10. Slide 10: Inventory Status

    Inventory Status ┃Started efforts to shorten the cash conversion cycle (CCC) • Although Q2 declined slightly due to increased shipments, the extent of the decline was limited, supported by higher order intake • No change to the target cash conversion cycle (CCC) of 240 days [Inventory trends] (Unit:

  11. Slide 11: Order Trends

    Order Trends Order intake continues to perform strongly Steady progress in order intake toward the FY2026 sales plan Orders and Backlog Trend (FY2024Q1 base) Order Progress (Cumulative orders as a percentage of sales) 2 1 1.5 0.8 0.6 1 0.4 0.5 0.2 0 0 FY2025 FY2026 Orders Backlog *FY26: Percentage o

  12. Slide 12: Agenda: FY2026 Forecasts

    Agenda 01 FY2026 1H Results 02 FY2026 Forecasts 03 TOPIC 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.

  13. Slide 13: Forecasts

    Forecasts Full-year forecasts revised upward, supported by strong Industrial orders (Unit: Billion yen) FY2026 FY2026 YoY Vs Plan FY2025 (Forecasts) (Plan) Change % Change % Sales 212.0 222.0 232.0 19.9 9.4 10.0 4.5 Gross 101.3 106.2 111.7 10.3 10.2 5.5 5.2 profit (47.8 %) (47.8 %) (48.1 %) Operatin

  14. Slide 14: Forecasts

    Forecasts (Unit: Billion yen) FY2026 FY2026 YoY Vs Plan FY2025 (Plan) (Forecasts) Change % Change % Industrial 74.2 78.9 90.2 16.0 21.5 11.3 14.4 Medical-bio 60.2 64.4 65.1 4.9 8.2 0.7 1.1 Analytical 25.6 26.3 27.1 1.5 6.0 0.8 3.3 Academic Research 20.3 18.5 17.1 -3.2 -15.9 -1.4 -7.9 Measuring 10.4

  15. Slide 15: Forecasts: Industrial

    Forecasts (Unit: Billion yen) FY2026 FY2026 FY2025 Outlook (Plan) (Forecasts) Semiconductor Light sources and sensors for semiconductor manufacturing and 35.8 40.4 44.2 inspection perform strongly amid growing AI testing semiconductor demand Semiconductor Performance is strong, primarily driven by f

  16. Slide 16: Forecasts: Medical-bio

    Forecasts (Unit: Billion yen) FY2026 FY2026 FY2025 Outlook (Plan) (Forecasts) Radiographic No significant changes are observed in demand testing 36.3 38.5 37.5 trends Although near-term demand is showing resilience exceeding our initial expectations, a Laboratory testing 17.4 18.0 18.5 certain level

  17. Slide 17: Shareholder Return

    Shareholder Return Basic policy to provide stable dividends, while also considering share buybacks as appropriate 20 billion yen 20 billion yen*1 (Completed) Dividend 80.3 % 67.5 % [Basic policy] Dividend payout ratio:30 % target 46.8 % [Minimum policy] DOE: 3.5 % 27.0 % 27.5 % ┃ Status of Share Buy

  18. Slide 18: Agenda: Topic

    Agenda 01 FY2026 1H Results 02 FY2026 Forecasts 03 TOPIC 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.

  19. Slide 19: Quantum Computer

    Quantum Computer ◼ Next-generation computers based on the principles of quantum mechanics ◼ Expected to have wide-ranging applications in fields such as AI, drug discovery, and finance, with research progressing rapidly ◼ Growing expectations for Neutral-Atom, Ion-Trap and Photonic Quantum approache

  20. Slide 20: Appendix

    Appendix 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.

  21. Slide 21: Financial Results and Forecasts

    Financial Results and Forecasts (Unit: Million yen) FY2025 FY2026 1H 2H Year 1H 2H Year (Actual) (Actual) (Actual) (Actual) (Forecasts) (Forecasts) Sales 106,745 100.0 % 105,305 100.0 % 212,051 100.0 % 112,496 100.0 % 119,504 100.0 % 232,000 100.0 % Cost of sales 54,167 50.7 % 56,501 53.7 % 110,669

  22. Slide 22: Sales by Application

    Sales by Application (Unit: Million yen) FY2025 FY2026 1H 2H Year 1H 2H Year (Actual) (Actual) (Actual) (Actual) (Forecasts) (Forecasts) Semiconductor manufacturing and testing 18,302 17.1 % 17,498 16.6 % 35,800 16.9 % 18,815 16.7 % 25,411 21.3 % 44,225 19.1 % Semiconductor failure analysis systems

  23. Slide 23: Segment Sales Results and Forecast

    Segment Sales Results and Forecast (Unit: Million yen) FY2025 FY2026 1H 2H Year 1H 2H Year (Actual) (Actual) (Actual) (Actual) (Forecasts) (Forecasts) Electron tube 37,516 34,951 72,467 38,784 38,516 77,300 Opto-semiconductor 39,607 40,865 80,472 43,468 44,732 88,200 Imaging and measurement 16,053 1

  24. Slide 24: Electron tube segment Segment Results and Forecasts

    Electron tube segment Segment Results and Forecasts (Unit: Million yen) FY2025 FY2026 1H 2H Year 1H 2H Year (Actual) (Actual) (Actual) (Actual) (Forecasts) (Forecasts) Sales 37,516 100.0 % 34,951 100.0 % 72,467 100.0 % 38,784 100.0 % 38,516 100.0 % 77,300 100.0 % Cost of sales 17,228 45.9 % 16,243 4

  25. Slide 25: Opto-semiconductor segment Segment Results and Forecasts

    Opto-semiconductor segment Segment Results and Forecasts (Unit: Million yen) FY2025 FY2026 1H 2H Year 1H 2H Year (Actual) (Actual) (Actual) (Actual) (Forecasts) (Forecasts) Sales 39,607 100.0 % 40,865 100.0 % 80,472 100.0 % 43,468 100.0 % 44,732 100.0 % 88,200 100.0 % Cost of sales 24,189 61.1 % 25,

  26. Slide 26: Imaging & measurement instrument segment Results and Forecasts

    Imaging & measurement instrument segment Segment Results and Forecasts (Unit: Million yen) FY2025 FY2026 1H 2H Year 1H 2H Year (Actual) (Actual) (Actual) (Actual) (Forecasts) (Forecasts) Sales 16,053 100.0 % 16,728 100.0 % 32,781 100.0 % 17,380 100.0 % 19,320 100.0 % 36,700 100.0 % Cost of sales 7,1

  27. Slide 27: Laser segment Segment Results and Forecasts

    Laser segment Segment Results and Forecasts (Unit: Million yen) FY2025 FY2026 1H 2H Year 1H 2H Year (Actual) (Actual) (Actual) (Actual) (Forecasts) (Forecasts) Sales 11,357 100.0 % 11,098 100.0 % 22,455 100.0 % 10,526 100.0 % 15,074 100.0 % 25,600 100.0 % Cost of sales 6,192 54.5 % 6,821 61.5 % 13,0

  28. Slide 28: Notes

    Notes ◼ This material is not intended to be a solicitation to buy or sell any securities of Hamamatsu Photonics K.K. ◼ The information contained in this material is based on data available as of making it. No representations or warranties are made as to the accuracy or completeness of this informati

  29. Slide 29: 🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved.

    🄫 Hamamatsu Photonics K.K. and its affiliates. All Rights Reserved. 29

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