Horiba, Ltd. · TSE:6856
Horiba — Q3 2025 Earnings Presentation
13 slides from Horiba's earnings presentation, Nov 20, 2025
Slide 1: Financial Information
Financial Information HORIBA, Ltd. November, 2025
Slide 2: Contents
Contents ◼ 2025 3Q (Jan.-Sep.) Results ◼ 2025 Forecasts ◼ Operating Profit Analysis ◼ Exchange rate impact ◼ CAPEX, Depreciation, R&D Expenses ◼ Dividend Forecasts ◼ Reference 2
Slide 3: 2025 3Q (Jan.-Sep.) Results
2025 3Q (Jan.-Sep.) Results （Billions of yen） Sales, operating profit and ordinary profit were record-high driven by Energy & Environment and Materials & Semiconductor. Net income increased year-on-year. 2024 2025 Changes 9 Months 9 Months Results Results vs 2024 % (Jan.-Sep.) (Jan.-Sep.) Sales 215.
Slide 4: 2025 3Q (Jan.-Sep.) Results by Fields
2025 3Q (Jan.-Sep.) Results by Fields （Billions of yen） Sales Operating profit 2024 2025 Changes 2024 2025 Changes 9 Months 9 Months 9 Months 9 Months Results Results vs 2024 % Results Results vs 2024 % (Jan.-Sep.) (Jan.-Sep.) (Jan.-Sep.) (Jan.-Sep.) Energy & Environment 78.1 85.9 +7.8 +10.0% -1.3 2
Slide 5: 2025 Forecasts
2025 Forecasts （Billions of yen） Maintain the annual forecasts, but we adjusted the forecasts by fields reflecting the business trends until September. 2024 2025 Changes Previous vs Previous Forecasts Results Forecasts vs 2024 (as of Nov. 14) Forecasts (as of Aug. 7) Sales 317.3 335.0 335.0 +17.6 -
Slide 6: 2025 Forecasts by Fields
2025 Forecasts by Fields （Billions of yen） Sales Operating profit 2024 2025 Changes 2024 2025 Changes Previous vs Previous Previous vs Previous Results Forecasts vs 2024 Results Forecasts vs 2024 Forecasts Forecasts (as of Nov. 14) Forecasts (as of Nov. 14) Forecasts (as of Aug 7) (as of Aug. 7) Ene
Slide 7: Outlook for FY2025 Forecasts
Outlook for FY2025 Forecasts • HEVs and PHEVs utilizing ICE are playing an increasingly important role and demands for gas analysis in vehicle development are increasing. Forecasts have been revised upward due to the strong order backlog Energy & in the mobility business. Environment • The market is
Slide 8: Operating Profit Analysis (vs 2024 Jan. – Sep.)
Operating Profit Analysis (vs 2024 Jan. – Sep.)（Billions of yen） 2024 2025 Jan. – Sep. Jan. – Sep. Exchange Exchange Increase Increase Increase Increase impact for impact for R&D Other 29.90 Sales COGS Gross Profit Expenses Expenses Expenses 33.51 +17.46 -8.39 -2.31 +0.44 -1.27 -2.31 Increase Exchan
Slide 9: Exchange Rate Trend / Forecasts / Impacts
Exchange Rate Trend / Forecasts / Impacts （Yen） 2024 2025 Previous Actual Forecasts Forecasts vs 2024 Annual Forecasts (as of Nov. 14) (Annual) (as of Aug. 7) Jan. - Sep. USD 151.69 145.00 148.08 145.00 -6.69 EUR 164.05 165.00 165.69 165.00 +0.95 Exchange rate impact Exchange rate impact for 2025 Ja
Slide 10: Capital Investment, Depreciation, R&D
Capital Investment, Depreciation, R&D （Billions of yen） 2024 2025 Previous vs Forecasts vs Results Results Forecasts Previous (as of Nov. 14) 2024 Jan.-Sep. (as of Aug. 7) Forecasts Capex 19.3 20.0 20.0 +0.6 - 12.9 Depreciation and amortization 13.0 14.0 14.0 +0.9 - 10.0 R&D expenses 22.9 26.0 26.0
Slide 11: Dividend Forecast
Dividend Forecast • Dividend payment = 30% of Consolidated net income attributable to HORIBA, Basic Policy Ltd.’s shareholders to be targeted • Execute special dividend and share buybacks timely and properly, considering investment opportunities and the cash flow situation. Dividend per share ⚫ 2023
Slide 12: HORIBA
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