Horiba, Ltd. · TSE:6856
Horiba — FY2025 Earnings Presentation
35 slides from Horiba's earnings presentation, Feb 25, 2026
Slide 1: Financial Information
Financial Information HORIBA, Ltd. February, 2026
Slide 2: Contents and Disclaimer
Contents ◼ 2025 Results ◼ 2026 Forecasts ◼ Progress of MLMAP 2028 ◼ Responding to Business Challenges ◼ Topics ◼ Shareholder Return ◼ Financial Data <Disclaimer> This presentation contains statements and materials that indicate future forecasts regarding the performance, strategies, and business pla
Slide 3: Contents
Contents ◼ 2025 Results ◼ 2026 Forecasts ◼ Progress of MLMAP 2028 ◼ Responding to Business Challenges ◼ Topics ◼ Shareholder Return ◼ Financial Data 3
Slide 4: 2025 Results
2025 Results (Billions of Yen) 2024 2025 Changes Forecasts vs Previous Results Results vs 2024 (as of Nov. 14) Forecasts Sales 317.3 335.0 333.0 +15.7 - 1.9 Operating profit 48.3 52.0 53.0 +4.7 +1.0 O.P.% 15.2% 15.5% 15.9% ＋0.7p +0.4p Ordinary profit 50.1 52.0 54.2 +4.0 +2.2 Net income attributable
Slide 5: 2025 Results by Field
2025 Results by Field (Billions of Yen) Sales Operating profit 2024 2025 Changes 2024 2025 Changes vs vs Forecasts Forecasts Results (as of Nov. 14) Results vs 2024 Previous Results (as of Nov. 14) Results vs 2024 Previous Forecasts Forecasts Energy & Environment 127.4 137.0 134.4 +6.9 -2.5 4.2 8.0
Slide 6: Contents
Contents ◼ 2025 Results ◼ 2026 Forecasts ◼ Progress of MLMAP 2028 ◼ Responding to Business Challenges ◼ Topics ◼ Shareholder Return ◼ Financial Data 6
Slide 7: HORIBA's Assumptions Regarding Market Environment
HORIBA’s Assumptions Regarding Market Environment • Be cautious about supply-chain disruptions amid rising geopolitical risks in a more complex global environment. General • Global energy cost increases and labor shortages are accelerating investments in automation and labor-saving measures. • Devel
Slide 8: 2026 Forecasts
2026 Forecasts (Billions of Yen) 2024 2025 2026 vs Results Results Forecasts 2025 Sales 317.3 333.0 345.0 +11.9 Operating Profit 48.3 53.0 56.0 +2.9 O.P.% 15.2% 15.9% 16.2% ＋0.3p Ordinary Profit 50.1 54.2 56.5 +2.2 Net income attributable to HORIBA, Ltd.'s Shareholders 33.5 37.0 40.5 +3.4 USD/JPY 15
Slide 9: 2026 Forecasts by Field
2026 Forecasts by Field (Billions of Yen) Sales Operating profit 2025 2026 2025 2026 vs vs Results Forecasts 2025 Results Forecasts 2025 Energy & Environment 134.4 134.0 -0.4 9.4 10.0 +0.5 Bio & Healthcare 42.1 43.0 +0.8 -0.8 - +0.8 Materials & Semiconductor 156.5 168.0 +11.4 44.5 46.0 +1.4 Total 33
Slide 10: Contents
Contents ◼ 2025 Results ◼ 2026 Forecasts ◼ Progress of MLMAP 2028 ◼ Responding to Business Challenges ◼ Topics ◼ Shareholder Return ◼ Financial Data 10
Slide 11: Progress of MLMAP2028 "MAXIMIZE VALUE"
Progress of MLMAP2028 “MAXIMIZE VALUE” (Billions of Yen) 〈Achievement〉 Progress of MLMAP2028 ⚫ Accelerated field operations have resulted in creating Sales O.P. more opportunities and speeding up development of 450.0 new products and applications with customers. 317.3 333.0 345.0 80.0 〈Market change
Slide 12: Business expansion by field operations
<Achievement> Business expansion by field operations Energy & Environment Bio & Healthcare Materials & Semiconductor New Material Diagnostics Semicon Water Process Hydrogen Life Science for Pharma Combustion Energy Materials Metrology Process Sharing technologies and applications across segments HOR
Slide 13: Progress of MLMAP2028 (by fields)
<Market changes & Challenges> Progress of MLMAP2028 (by fields) (Billions of Yen) Energy & Materials & Bio & Healthcare Environment Semiconductor Sales O.P. Sales O.P. Sales O.P. 158.0 57.0 235.0 127.4 134.4 134.0 43.0 40.1 42.1 149.7 156.5 168.0 15.8 58.5 9.4 10.0 0.0 5.7 44.9 44.5 46.0 4.2 -0.8 -0
Slide 14: Contents
Contents ◼ 2025 Results ◼ 2026 Forecasts ◼ Progress of MLMAP 2028 ◼ Responding to Business Challenges ◼ Topics ◼ Shareholder Return ◼ Financial Data 14
Slide 15: Responding to Business Challenges
Energy & Environment Responding to Business Challenges Mobility business Energy business (Hydrogen) ⚫ Maintain strong backlog supported by the recovery of investment ⚫ Project profitability improved thanks tor the project management in ICEs by customers. capability. ⚫ The Mechatronics business carri
Slide 16: Contribution to carbon neutrality
Energy & Environment Contribution to carbon neutrality HORIBA’s analyzer have been adopted for the “Blue Contributing to research aimed at reducing power Hydrogen & Ammonia Integrated Production-to-Use consumption in the wastewater treatment market and Demonstration Test” reducing greenhouse gas emi
Slide 17: Responding to Business Challenges
Responding to Business Challenges Bio & Healthcare Medical business Life-science business ⚫ Enhancing product differentiation and sales capabilities Market environment in Japanese and Indian markets. ⚫ Impact of the reduced R&D budget for academia (U.S.). ⚫ Progress of collaborations with pharmaceut
Slide 18: Contribution to the life science field
Bio & Healthcare Contribution to the life science field Expand solutions for drug discovery and pharmaceutical manufacturing processes: Expanding the product lineup in the life science field Accelerate promotion of new products at exhibitions Contributing to evaluating pharmaceutical stability ➢ Ena
Slide 19: Responding to Business Challenges
Responding to Business Challenges Materials & Semiconductor Materials & Semiconductor Expand HORIBA’s solution lineup for the semiconductor industry 【Market and Business environment】 Providing accurate fluid control solutions for diverse ⚫ Demand for DRAM and advanced logic continues to Mass flow pr
Slide 20: Deepening Core Technologies and Strengthening Technical Capabilities
Materials & Semiconductor Deepening Core Technologies and Strengthening Technical Capabilities Contribute to the development of the semiconductor Acquired Pristine Deeptech, an Indian company engaged industry by leveraging core technologies and further in broad research on synthetic diamonds strengt
Slide 21: Fukuchiyama Factory: Full-scale Operation in Spring 2026
Materials & Semiconductor Fukuchiyama Factory: Full-scale Operation in Spring 2026 Establish a long-term stable supply system Fukuchiyama (Kyoto) ⚫ Strengthen production capacity in anticipation of mid-to long term demand growth ✓ With completion of the Fukuchiyama Factory, domestic production capac
Slide 22: Contents
Contents ◼ 2025 Results ◼ 2026 Forecasts ◼ Progress of MLMAP 2028 ◼ Responding to Business Challenges ◼ Topics ◼ Shareholder Return ◼ Financial Data 22
Slide 23: HORIBA World Headquarters Project
Topics HORIBA World Headquarters Project Strategic investment to evolve global operations and reorganize domestic sites HORIBA Group will build a “New Global Headquarters” 2013 Fukuchiyama Technology Center 2015 HORIBA Advanced Technology Center 1. Consolidate functions such as planning, strategy, a
Slide 24: HORIBA World Headquarters Project
Topics HORIBA World Headquarters Project Aimed functions of the new headquarters 1. Take global operations to the next stage. 2. Optimize domestic sites and improve efficiency. 3. Build an exhibition space that showcases everything about HORIBA. 4. Collaboration among diverse talents. 5. Practice an
Slide 25: Initiatives for people and sustainability
Topics Initiatives for people and sustainability Promoting global talent development Initiatives to reduce CO₂ ⚫ Launched a program to develop global leaders → Connect HORIBA’s unique strengths worldwide and execute GHG reduction target strategies that meet societal and market expectations. 2033 : R
Slide 26: Contents
Contents ◼ 2025 Results ◼ 2026 Forecasts ◼ Progress of MLMAP 2028 ◼ Responding to Business Challenges ◼ Topics ◼ Shareholder Return ◼ Financial Data 26
Slide 27: Shareholder return
Shareholder return • 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 ⚫ 202
Slide 28: Contents
Contents ◼ 2025 Results ◼ 2026 Forecasts ◼ Progress of MLMAP 2028 ◼ Responding to Business Challenges ◼ Topics ◼ Shareholder Return ◼ Financial Data 28
Slide 29: 2025 Results (B/S, CF)
2025 Results (B/S, CF) ◆Fixed assets increased due to the investment of new R&D center building and new factory in Fukuchiyama, as a result, B/S total assets were ¥518.2bn increased by ¥36.6bn compared with previous year end. ◆Equity ratio: 67.1% ◆Operating CF: Cash in ¥54.3bn due to operating profi
Slide 30: Operating Profit Analysis (vs 2024 Jan. – Dec.)
Operating Profit Analysis (vs 2024 Jan. – Dec.)（Billions of yen） 2024 2025 Jan. – Dec. Jan. – Dec. Exchange Exchange Increase Increase Increase Increase impact for impact for R&D Other 48.34 Sales COGS Gross Profit Expenses Expenses Expenses 53.04 +16.76 -5.66 -1.59 -0.12 -1.59 -3.09 Increase Exchan
Slide 31: Exchange Rate Trend / Forecasts / Impacts
Exchange Rate Trend / Forecasts / Impacts （Yen） 2024 2025 2026 vs 2025 Annual Annual Forecasts (Annual) USD 151.69 149.61 145.00 -4.61 EUR 164.05 169.19 175.00 +5.81 Exchange rate impact Exchange rate impact for 2025 Jan. - Dec. for 2026 Forecasts (vs 2024 Jan. - Dec.) 1 yen impact of Sales and O.P.
Slide 32: Capital Investment, Depreciation, R&D
Capital Investment, Depreciation, R&D （Billions of yen） 2024 2025 2026 Previous vs vs vs Results Forecasts Results Previous Forecasts 2024 2024 (as of Nov. 14) Forecasts Capex 19.3 20.0 27.4 +8.0 +7.4 20.0 -7.4 Depreciation and amortization 13.0 14.0 13.8 +0.7 -0.1 15.5 +1.6 R&D expenses 22.9 26.0 2
Slide 33: Cash Balance
(Consolidated basis, each end of period) Cash Balance （Billions of yen） Cash 162.3 Cash Cash Cash 144.2 139.8 132.7 Bond Total Total Total ¥15.0bn 67.2 Total （redemption 2026 64.4 66.4 60.3 Oct.） Bonds Bonds Bonds ￥15.0bn 30.0 Bonds 30.0 30.0 （redemption 2029） 30.0 Long Long ¥20.0bn Long 24.8 Long 2
Slide 34: Omoshiro-okashiku
Omoshiro-okashiku Joy and Fun u a 3 Terima kasih ® & Gracias S ini Danke 2 Lac euxaplotw n&pa TOAU a Yr 2 THANK YOU 3 x: D WaAUAAL ASU fe) Bonbwoe cnacu6o mpwesoeuale g Cam dn = Zt AFSELIC} Dziekuje 2 alzeay 1940) HORIBA
Slide 35: Copyright notice
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