Rigaku Holdings Corp (RGAKF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

First of all, today we have two agenda items. First agenda is the summary of first half of FY2025 consolidated financial results. Second topic is the updates on FY25 earnings forecast and our growth strategy and progress. First, the first agenda. the first half FY25 consolidated financial results. This is the highlights. Compared to the previous year, semiconductor business remains solid and revenues declined 4.7% year-on-year due to a cyclical slowdown of multipurpose analytical instruments and components business, EUV. So therefore, revenues declined minus 4.7% year on year, meaning that 4.7% decline. Adjusted EBITDA and adjusted profit declined. It is slightly delayed in terms of the sales and revenues. So an R&D and commercial infrastructure investment is continued. So therefore, adjusted EBITDA, adjusted profits declined compared to the previous year. So let me explain that further more. In the pipeline, mid- to long-term is quite steady, continue to grow steadily, is plus 15%, 1.5, 15% year-on-year, and mid-term demand remains resilient. However... full-year results of FY25 are expected to be influenced by factors not anticipated at the beginning of the year, such as including the impacts of Trump policy and slowdown in EUB, so that we have confirmed the impact on the full-year results, which we will explain further in detail in the second agenda item. And then, in case of the business unit, in the multi-purpose analytical instruments, It is minus 14% or 14% year-on-year decrease in terms of revenue due to the absence of China's supplementary budget projects last year. And however, there's growth continues in Europe in the first half and Asia and Americas. And if you think of this, all regions except America have performed very well, and that is in the business...