Innotech Corporation · TSE:9880
Innotech — 1H FY2025 Earnings Presentation
35 slides from Innotech's earnings presentation, Nov 10, 2025
Slide 1: FY2025 1st Half Financial Results
INNOTECH CORPORATION FY2025 1st Half Financial Results November 10, 2025
Slide 2: Agenda
1 FY2025 1H Actual 2 FY2025 Outlook 3 M i d -Te r m a n d L o n g -Te r m S t ra t e g y
Slide 3: FY2025 1H Highlights
FY2025 1H Highlights Consolidated net sales increased by ％ 3.8 YoY; Consolidated operating profit increased by 26.6％ YoY Revenue of Test Solution Business increased and the results returned profitable as the demands from overseas increased. Both revenue and profit increased for Semiconductor Design-
Slide 4: FY2025 1H Actual
FY2025 1H Actual Sanei IT GAIO STAr INNOTECH REGULUS MoDeCH Consolidated Hytechs Access TECHNOLOGY Technologies YoY FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 Year 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H Net Sales 7,462 8,7
Slide 5: FY2025 1H Test Solution Business
FY2025 1H T est S olution Business [Sales: mil. Yen] [Gross Profit: mil. yen] 10,000 3,000 2,665 2,488 8,000 2,400 6,000 1,800 売上 Sales Gross Profit 売上総利益 4,000 7,629 1,200 7,053 2,000 600 0 0 FY2024 1H 25年/3月期 2Q FY20252Q 26年/3月期 1H (＊) Rounded down to nearest 1 million yen 5
Slide 6: Test Solution Business
Test Solution Business Testers Revenue increased as the overseas tester demands for NAND flash memory products increased and the business of CMOS image sensors remained stable as well. STAr Profit decreased as the sales of reliability test equipment did not expand; however, the cost effectiveness im
Slide 7: FY2025 1H Semiconductor Design-related Business
FY2025 1H Semiconductor Design-related Business [Sales: mil. Yen] [Gross Profit: mil. yen] 1,565 7,500 1,528 1,600 6,000 1,280 4,500 960 売上 Sales 6,622 6,740 Gross Profit 売上総利益 3,000 640 1,500 320 0 0 FY2024 1H 25年/3月期 2Q FY2025 1H 26年/3月期 2Q (＊) Rounded down to nearest 1 million yen 7
Slide 8: Semiconductor Design-related Business
Semiconductor Design-related Business EDA Revenue increased as the tool businesses for IC design and for PCBs, which are the key pillars, were stable. Sanei Hytechs Both revenue and profit increased as the semiconductor business operation rate came back and the domestic business stabilized. MoDeCH R
Slide 9: FY2025 1H System Service Business
FY2025 1H System Service Business [Sales: mil. Yen] [Gross Profit: mil. yen] 8,000 2,341 2,500 2,290 6,400 2,000 4,800 1,500 売上 Sales 7,132 7,231 Gross Profit 売上総利益 3,200 1,000 1,600 500 0 0 FY2024 1H 25年/3月期 2Q FY2025 1H 26年/3月期 2Q (＊) Rounded down to nearest 1 million yen 9
Slide 10: System Service Business
System Service Business Embedded System Revenue increased with strong demand for defense applications by a larger security budget and pull-in of delivery schedule for internally-developed products for social infrastructure. IT Access Both revenue and profit decreased as the temporary profit accounte
Slide 11: Sale of Cross-shareholdings (Bank Shares)
Sale of Cross-shareholdings (Bank Shares) INNOTECH has sold all the bank shares held for cross-sharing purposes. Purpose of Sale In order to enhance financial safety and stability mainly from the financing point of view, based on the financial strategy of our mid-term management plan to increase cap
Slide 12: Major Expenses, Non-Operating Expenses and Income, and Extraordinary Gains and Losses
Major Expenses, Non-Operating Expenses and Income, and Extraordinary Gains and Losses 〔mil. yen〕 FY2024 1H FY2025 1H Research & Development 1,183 965 Depreciation 679 624 Provision for Product Warranties - 86 Amortization of Goodwill 115 67 Major Items of Non-operating Expenses and Income Real Estat
Slide 13: Cash Flow
Cash Flow 〔mil. yen〕 FY2024 1H FY2025 1H Profit Before Income Taxes 751 1,160 Depreciation and Amortization of Goodwill 794 691 Working Capital and Others -1,373 -652 Cash Flow from Operating Activities 172 1,200 Purchase of Fixed Assets -564 -573 Purchase of Long-term Prepaid Expenses -142 -42 Purc
Slide 14: FY2025 Outlook
1 FY2025 1H Actual 2 FY2025 Outlook 3 M i d -Te r m a n d L o n g -Te r m S t ra t e g y
Slide 15: FY2025 Highlights
FY2025 Highlights Sales, operating profit, and net income will be revised upward for the full year while the operating profit was revised downward, taking the foreign exchange loss into account Overseas business will continue to remain strong for Test Solution Business in the 2nd half; revenue will
Slide 16: Revision of Earnings Forecast
Revision of Earnings Forecast (mil. yen) Profit Dividend Operating Attributable to Earnings per Dividends Net Sales Ordinary Profit Payout Profit Owners of Share (Full Year) Ratio Parent Previous Forecast（A） 43,500 2,600 2,600 1,700 129.62 70 54.0% Current Forecast（B） 45,500 2,750 2,400 1,800 137.15
Slide 17: FY2025 Estimate
FY2025 Estimate [mil. yen] Sanei GAIO STAr Consoli FY2024 INNOTECH IT Access TECHNOLOGY Technologies REGULUS MoDeCH YoY Hytechs -dated Actual Net Sales 17,650 4,000 5,800 4,650 13,000 700 350 45,500 41,977 8.4% 4,900 1,000 1,600 1,650 4,350 230 200 13,650 12,649 Gross 7.9% Profit (27.8%) (25.0%) (27
Slide 18: Business Results Trends
Business Results Trends Operating Profit Sales 〔mil. yen〕 〔mil. yen〕 3,500 50,000 45,500 41,358 41,977 2,800 38,629 40,000 37,238 2,750 2,585 2,474 2,319 2,100 30,000 1,887 1,400 20,000 700 10,000 0 0 FY2021 FY2022 FY2023 FY2024 FY2025 Operating 売上高 Sales 営業利益 Profit (＊) Figures on the top of the ba
Slide 19: FY2025 Outlook: Test Solution Business
FY2025 Outlook: Test Solution Business [Sales: mil. Yen] [Gross Profit: mil. Yen] 21,000 6,600 6,050 17,500 5,180 5,500 14,000 4,400 10,500 3,300 売上 Sales Gross Profit 売上総利益 17,300 14,977 7,000 2,200 3,500 1,100 0 0 FY2024 25年/3月期 FY2025 26年/3月期 (＊) Rounded down to nearest 1 million yen (Estimate) 1
Slide 20: Test Solution Business
Test Solution Business Testers Revenue will increase since the tester business for NAND Flash Memory products remains strong while there will be a modification cost for overseas customers (already accounted for in provisions) STAr Revenue will decrease due to the spin-off of the function probe card
Slide 21: FY2025 Outlook: Semiconductor Design-related Business
FY2025 Outlook: Semiconductor Design-related Business [Sales: mil. Yen] [Gross Profit: mil. Yen] 18,000 3,600 3,100 2,910 15,000 3,000 12,000 2,400 Sales 売上 9,000 1,800 Gross Profit 売上総利益 13,700 12,992 6,000 1,200 3,000 600 0 0 FY2024 25年/3月期 FY2025 26年/3月期 (＊) Rounded down to nearest 1 million yen
Slide 22: Semiconductor Design-related Business
Semiconductor Design-related Business EDA Revenue will increase as the negotiations to increase the major contract amount are on-going and the number of businesses for tools for PCBs is increasing. Sanei Hytechs Increase in revenue and profit is expected as Sanei is highly likely to win orders for m
Slide 23: FY2025 Outlook: System Service Business
FY2025 Outlook: System Service Business [Sales: mil. Yen] [Gross Profit: mil. Yen] 18,000 4,558 4,500 4,800 15,000 4,000 12,000 3,200 売上 Sales 9,000 2,400 Gross Profit 売上総利益 14,006 14,500 6,000 1,600 3,000 800 0 0 FY2024 25年/3月期 FY2025 26年/3月期 (＊) Rounded down to nearest 1 million yen (Estimate) 23
Slide 24: System Service Business
System Service Business Embedded System Revenue is expected to grow for the full fiscal year as the demands for defense applications stay strong and business for internally-developed products for maritime and server facility applications remain stable as well. IT Access Aim to achieve the same level
Slide 25: Mid-Term and Long-Term Strategy
1 FY2025 1H Actual 2 FY2025 Outlook 3 M i d -Te r m a n d L o n g -Te r m S t ra t e g y
Slide 26: Mid-Term Management Plan Overview (FY2024-FY2026)
Mid-Term Management Plan Overview (FY2024-FY2026) Basic Direction Both profitability (e.g.,ROE) and growth (PER) must improve to increase share price and PBR Basic Strategy (Enhance ROE, Reduce Cost of Capital, and Increase Expected Growth Rate) Expanding Operating Profit ・Grow and improve profitabi
Slide 27: Enrich and Optimize Product Portfolio
Progress on Mid-term and Long-term Management Plan: Test Solution Business Expand product line-up in addition to testers for NAND Flash Memory products which remain as a core; Continue development of CIS testers for overseas customers to start selling in FY2026. Tester Start development of mass prod
Slide 28: Semiconductor Design-related Business Progress
Progress on Mid-term and Long-term Management Plan: Semiconductor Design-related Business EDA Promote stronger collaboration inside and outside INNOTECH Group and provide solutions with higher added values Executed a distribution agreement with NTT Devices Cross Technologies Corp., a technology serv
Slide 29: System Service Business Progress
Progress on Mid-term and Long-term Management Plan: System Service Business Embedded Systems Capture demands for ODMs, industrial PCs, and logistics Product planning focused on the maritime and defense markets ; 20th anniversary since the launch of internally-developed product, “ＩＮＮＩＮＧＳ”; more than
Slide 30: 20th Anniversary of INNINGS; Over 200,000 total units shipped
20th Anniversary of ＩＮＮＩＮＧＳ; Over 200,000 total units were shipped Total shipments of CPU boards for embedded New solution with the most cutting- applications and Box-type PCs; 50,000 units in edge technologies combined FY2015, over 100,000 units in FY2019, and reached to over 200,000 units in FY202
Slide 31: Financial Strategy: Sale of the headquarter building
Financial Strategy (ＦＹ2024～2026): Sale of the headquarter building INNOTECH resolved matters related to sale of the land and building of the Company’s headquarters at the board meeting held on August 8, 2025 Purpose of Sale For effective utilization of assets and redistribution of management resourc
Slide 32: Financial Strategy: Capital Allocation Outlook
Financial Strategy (ＦＹ2024～2026）: Capital Allocation Outlook As the resolution was made to sell the headquarter building, an increase of cash which was not incorporated in the current mid-term management plan (FY2024~2026) announced on March 21, 2024 is expected. While INNOTECH plans to utilize the
Slide 33: Financial Strategy: Acquisition of Treasury Shares
Financial Strategy (FY2024-FY2026): Acquisition of Treasury Shares INNOTECH resolved matters related to acquisition of treasury shares at the board meeting held on November 10, 2025. Purpose of Acquisition • Enhance the capital efficiency and reduce the cost of capital, taking the ROE, financial str
Slide 34: Efforts on Sustainability
Efforts on Sustainability About Mizuho Bank Impact Deposit Deposit to support corporate activities to generate positive impact to the environment, society, and economy Contribute to Realize Sustainable Society Supporting Mizuho Bank’s impact finance initiative, INNOTECH makes deposits in Mizuho Your
Slide 35: Note for Forward Looking Statements
Note for Forward Looking Statements The information provided in this presentation includes forward looking statements based on current expectations, forecasts or beliefs. Such forward looking statements include a number of preliminary assumptions about future events that are subject to factors and u