(TRANSLATION)
This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.
Consolidated Annual Financial Results
(based on Japanese standards) For the Year Ended March 31, 2025
April 23, 2025 | ||
Company name: FANUC CORPORATION | Stock exchange listing: Tokyo Stock Exchange | |
Stock code: | 6954 | URL: https://www.fanuc.co.jp/eindex.html |
Representative: (Title) President | (Name) Kenji Yamaguchi | |
Contact: | (Title) Manager, Public Relations & Shareholders Relations Department |
(Name) Naoki Yukisada TEL: (0555)84-5555
Scheduled date of the Annual Meeting of Shareholders: June 27, 2025
Scheduled date of commencing dividend payments: June 30, 2025
Scheduled date of filing the Securities Report: June 26, 2025
Supplementary briefing material on annual financial results: Yes
Annual financial results briefing session: Yes
(Amounts are rounded to the nearest million yen)
1. Consolidated Financial Results for the Year Ended March 31, 2025 (April 1, 2024 - March 31, 2025)
- Consolidated Results of Operations
(% represents changes from the previous term.)
Net sales | Operating income | Ordinary income | Net income | ||||||||||||||||||
attributable to owners | |||||||||||||||||||||
of parent | |||||||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||||||||
FY2024 | 797,129 | 0.2 | 158,846 | 11.9 | 196,738 | 8.2 | 147,557 | 10.8 | |||||||||||||
FY2023 | 795,274 | (6.7) | 141,919 | (25.8) | 181,755 | (21.4) | 133,159 | (21.9) | |||||||||||||
Note: Consolidated comprehensive income | FY2024: ¥154,640 million (28.3)% | ||||||||||||||||||||
FY2023: ¥215,709 million 5.9% | |||||||||||||||||||||
Net income | Net income | Ordinary | Operating | ||||||||||||||||||
per share | Return on equity | income-to-total | income-to-net | ||||||||||||||||||
per share | |||||||||||||||||||||
(diluted) | capital ratio | sales ratio | |||||||||||||||||||
Yen | Yen | % | % | % | |||||||||||||||||
FY2024 | 157.31 | - | 8.6 | 10.2 | 19.9 | ||||||||||||||||
FY2023 | 140.23 | - | 8.0 | 9.6 | 17.8 | ||||||||||||||||
(Reference) Equity in earnings of affiliates FY2024: ¥28,040 million | FY2023: ¥27,540 million | ||||||||||||||||||||
(2) Consolidated Financial Position | |||||||||||||||||||||
Total assets | Net assets | Equity ratio | Net assets | ||||||||||||||||||
per share | |||||||||||||||||||||
FY2024 | Millions of yen | Millions of yen | % | 89.0 | Yen | ||||||||||||||||
1,937,031 | 1,739,890 | 1,847.86 | |||||||||||||||||||
FY2023 | 1,926,037 | 1,719,200 | 88.6 | 1,803.59 | |||||||||||||||||
(Reference) Equity: FY2024: | ¥1,724,545 million | FY2023: | ¥1,705,556 million | ||||||||||||||||||
(3) Consolidated Cash Flow Position | |||||||||||||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | ||||||||||||||||||
equivalents at the end of | |||||||||||||||||||||
operating activities | investing activities | financing activities | |||||||||||||||||||
the fiscal year | |||||||||||||||||||||
FY2024 | Millions of yen | Millions of yen | Millions of yen | Millions of yen | |||||||||||||||||
255,273 | (134,084) | (136,618) | 502,091 | ||||||||||||||||||
FY2023 | 171,764 | (13,563) | (122,514) | 526,881 |
2. Dividends
Dividends per share | Total | Payout | Dividends-to- | ||||||
amount of | ratio | net assets | |||||||
1st | 2nd | 3rd | Fiscal | ||||||
(Cut-off date) | Full year | dividends | (conso- | ratio | |||||
Quarter | Quarter | Quarter | year-end | (full year) | lidated) | (consolidated) | |||
FY2023 | Yen | Yen | Yen | Yen | Yen | Millions of yen | % | % | 4.8 |
― | 40.26 | ― | 43.88 | 84.14 | 79,852 | 60.0 | |||
FY2024 | ― | 44.51 | ― | 49.88 | 94.39 | 88,196 | 60.0 | 5.1 | |
FY2025 | ― | ― | ― | ― | ― | ― | |||
(forecast) | |||||||||
Note: The 2nd quarter-end and year-end dividends for FY2025 will be disclosed promptly upon their availability.
3. Consolidated Financial Forecasts for FY2025 (April 1, 2025 - March 31, 2026)
The consolidated financial forecasts for the year ending March 31, 2026 are not reported, as it is not feasible at present to reasonably calculate them. The forecasts will be announced as soon as reasonable calculation is possible.
*Notes
- Significant changes in the scope of consolidation during the fiscal year ended March 31, 2025
- No
- Changes in Accounting Principles and Accounting Estimates, and Revisions/Restatements
1. | Changes in accounting principles associated with changes in | : | No |
accounting standards | |||
2. | Changes in accounting principles other than 1 | : | No |
3. | Changes in accounting estimates | : | No |
4. | Revisions/Restatements | : | No |
(3) Number of shares outstanding (Common shares) | ||||
1. | Number of shares outstanding at the end of the period (including treasury stocks) | 1,003,073,989 | ||
March 31, 2025 | 995,418,885 | March 31, 2024 | ||
shares | shares | |||
2. | Number of shares of treasury stock at the end of the period | March 31, 2024 | 57,426,048 | |
March 31, 2025 | 62,154,566 | |||
shares | shares | |||
3. | Average number of shares during the period | |||
Year ended | 938,025,253 | Year ended | 949,589,287 | |
March 31, 2025 | shares | March 31, 2024 | shares |
(Reference) Summary of Non-Consolidated Financial Results
1. Non-Consolidated Financial Results for FY2024 (April 1, 2024 - March 31, 2025)
- Non-ConsolidatedResults of Operations
(% represents changes from the previous term.)
Net sales | Operating income | Ordinary income | Net income | ||||||||
FY2024 | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | |||
485,284 | 2.2 | 84,078 | 30.0 | 154,927 | 20.1 | 127,403 | 23.4 | ||||
FY2023 | 474,794 | (25.2) | 64,670 | (49.6) | 129,018 | (44.4) | 103,284 | (45.8) | |||
Net income | Net income | ||||||||||
per share | |||||||||||
per share | |||||||||||
(diluted) | |||||||||||
FY2024 | Yen | Yen | |||||||||
135.82 | - | ||||||||||
FY2023 | 108.77 | - | |||||||||
(2) Non-Consolidated Financial Position | |||||||||||
Total assets | Net assets | Equity ratio | Net assets | ||||||||
per share | |||||||||||
FY2024 | Millions of yen | Millions of yen | % | 90.4 | Yen | 1,282.10 | |||||
1,323,430 | 1,196,541 | ||||||||||
FY2023 | 1,321,895 | 1,208,679 | 91.4 | 1,278.15 | |||||||
(Reference) | Equity: FY2024 | ¥1,196,541 million | FY2023 | ¥1,208,679 million |
- The report of the annual financial results is not subject to audit by certified public accountant or audit firm.
-
Notes on appropriate use of the financial forecasts, other notes.
There are numerous uncertain factors, including the impact of tariffs in the United States, the resulting effects on the global economy, exchange rate trends, geopolitical risks. Overall, it is expected that the situation will remain unpredictable.
As for the consolidated financial forecast for the fiscal year ending March 2026, we plan to carefully assess the impact of tariffs in the United States and other factors, and promptly disclose the forecast once a reasonable calculation becomes feasible.
Table of Contents of Accompanying Documents
1. Overview of Results of Operations, etc. | 2 | |
(1) | Overview of Results of Operations | 2 |
(2) | Overview of Financial Position | 4 |
(3) | Overview of Cash Flows | 4 |
(4) | Future Outlook | 5 |
- Basic Policy on Return of Profit to Shareholders
and Dividends | 5 | ||
2. | Management Policy, Business Environment, Challenges, | ||
and Other Matters | 6 | ||
(1) | Basic Management Policy | 6 | |
(2) | Business Environment and Challenges | 6 | |
3. | Basic Way of Thinking Regarding the Choice of | ||
Accounting Standards | 8 | ||
4. | Consolidated Financial Statements and Primary Notes | 9 | |
(1) | Consolidated Balance Sheet | 9 |
- Consolidated Statement of Income and
Consolidated Statement of Comprehensive Income | 11 | |
(3) | Consolidated Statements of Changes in Net Assets | 13 |
(4) | Consolidated Statement of Cash Flows | 15 |
(5) | Notes to Consolidated Financial Statements | 16 |
(Note on premise of a going concern) | 16 | |
(Change in accounting principles) | 16 | |
(Changes in presentation methods） | 16 | |
(Segment information, etc.) | 16 | |
(Per share data) | 17 | |
(Significant subsequent events) | 18 |
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1. Overview of Results of Operations, etc.
- Overview of Results of Operations
Regarding the circumstances surrounding the FANUC Group during this fiscal year (April 1, 2024
-
March 31, 2025), the economy is gradually recovering, and capital investment appears to be picking up. However, the situation remained uncertain due to several factors, such as the impact of inflation and high interest rates in the U.S. and Europe and concerns about the outlook of the Chinese economy.
Amidst these difficult conditions, we have done every effort for sales expansion and cost reduction, etc., through the concerted efforts of all the divisions, including sales divisions, R&D divisions, factories, service divisions, and administrative divisions.
We have continued to actively push forward with initiatives towards future development, including the development of new products and new functions to reinforce our competitiveness, streamlining of production sites to achieve greater productivity, and the introduction of new equipment to handle new products.
In addition, amid the global pushing toward a carbon-free society, we recognize that climate change is an important management issue for the FANUC Group as well, as we are doing business globally, and pushed forward with development geared towards improved energy-efficiency of our products. Further, FANUC CORPORATION has been recognized for leadership in transparent disclouse and performance on climate change by an international non-profit organization, CDP, and has received its highest-rating 'A List' for the second consecutive year.
During the fiscal year ended March 31, 2025, FANUC posted consolidated net sales totaling ¥797,129 million, up 0.2%, consolidated ordinary income totaling ¥196,738 million, up 8.2%, and net income attributable to owners of parent totaling ¥147,557 million, up 10.8%, compared with the previous fiscal year.
During this fiscal year, the FANUC Robot M-800, an industrial robot that achieves substantially higher rigidity and absolute accuracy than previous models, together with enhanced path accuracy, was awarded the METI Minister's Award in the 11th Robot Awards Program. In addition, the FANUC Series 500i-A, the CNC, a new platform that promotes the development of machine tools adapted to various changes in conditions and circumstances, achieving automation and productivity improvements at manufacturing sites, received the Main Award at the 67th Nikkan Kogyo Shimbun Best 10 New Product Awards.
The following is a summary of the results for each business division:
[FA Division]
In the FA Division, demand from the machine tool industry, the primary market for CNC systems, remained firm in India and China, where demand was vigorous from industries that are actively
undertaking capital investment, despite weak demand in Japan and Europe, and sales of our CNC
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systems increased.
The FA Division posted consolidated sales totaling ¥194,824 million, up 8%, compared with the previous fiscal year, and FA Division sales accounted for 24.4% of consolidated net sales.
[ROBOT Division]
In the ROBOT Division, sales increased in Japan amid firm demand in both automobile-related industries and general industries. In China, however, sales decreased due to a slight drop in demand for EV-related industries, which had previously been strong, as well as weak demand for general industries and electronic industries. Sales in Europe and the Americas also decreased, mainly due to weak demand in automobile-related industries.
The ROBOT Division posted consolidated sales totaling ¥329,566 million, down 13.5%, compared with the previous fiscal year. ROBOT Division sales accounted for 41.3% of consolidated net sales.
[ROBOMACHINE Division]
In the ROBOMACHINE Division, sales of ROBODRILLs (compact machining centers) increased mainly due to the steady trend in the Chinese market. Sales of ROBOSHOTs (electric injection molding machines) increased due to rising demand in China and the rest of Asia. Sales of ROBOCUTs (wire electrical-discharge machines) were only marginally higher than the previous fiscal year amid lower sales in Europe although higher sales in the Americas, China and the rest of Asia.
The ROBOMACHINE Division posted consolidated sales totaling ¥137,588 million, up 33.1%, compared with the previous fiscal year. ROBOMACHINE Division sales accounted for 17.3% of consolidated net sales.
[Service Division]
In the Service Division, under the spirit of 'Service First', we have strengthened our service system globally to enhance customer satisfaction by focusing on CX (customer experience) utilizing IT.
The Service Division posted consolidated sales totaling ¥135,151 million, up 3.5%, compared with the previous fiscal year. Service Division sales accounted for 17.0% of consolidated net sales.
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(2) Overview of Financial Position
Total assets were ¥1,937,031 million, up ¥10,994 million compared with the end of the previous fiscal year.
Total liabilities were ¥197,141 million, down ¥9,696 million compared with the end of the previous fiscal year.
Total net assets were ¥1,739,890 million, up ¥20,690 million compared with the end of the previous fiscal year.
(3) Overview of Cash Flows
Cash and cash equivalents (hereinafter "Cash") for this fiscal year amounted to ¥502,091 million, down ¥24,790 million from the end of the previous fiscal year.
(Cash flows from operating activities)
Cash provided by operating activities amounted to ¥255,273 million, up ¥83,509 million from the previous fiscal year. This was mainly due to a decrease in inventories.
(Cash flows from investing activities)
Cash used in investing activities amounted to ¥134,084 million, up ¥120,521 million from the previous fiscal year. This was mainly due to payments into time deposits.
(Cash flows from financing activities)
Cash used in financing activities amounted to ¥136,618 million, up ¥14,104 million from the previous fiscal year. This was mainly due to share buybacks.
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(4) Future Outlook
There are numerous uncertain factors, including the impact of tariffs in the United States, the resulting effects on the global economy, exchange rate trends, geopolitical risks. Overall, it is expected that the situation will remain unpredictable.
As for the consolidated financial forecast for the fiscal year ending March 2026, we plan to carefully assess the impact of tariffs in the United States and other factors, and promptly disclose the forecast once a reasonable calculation becomes feasible.
-
Basic Policy on Return of Profit to Shareholders and DividendsOur basic policy for distributing profits to shareholders is as follows:
1. Dividends
We have set a dividend payout ratio of 60% as our basic policy.
2. Share buybacks
We will buy back our own shares in a flexible manner depending on the level of our stock price, taking into account the balance with our investments for growth.
3. Cancellation of treasury shares
We limit the number of our treasury shares to 5% of the total number of shares issued. As a general rule, we will cancel any portion exceeding that limit every fiscal year.
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Dividends for this fiscal year are scheduled as follows:
First half | Second half | Full year | Payout ratio | |
(forecast) | (forecast) | |||
Current period (fiscal year | Yen | Yen | Yen | 60.0% |
ended March 31, 2025) | 44.51 | 49.88 | 94.39 | |
(Reference) | Yen | Yen | Yen | 60.0% |
Previous period (fiscal year | ||||
40.26 | 43.88 | 84.14 | ||
ended March 31, 2024) | ||||
2. Management Policy, Business Environment, Challenges, and Other Matters
-
Basic Management Policy
FANUC has consistently pursued factory automation. The starting point was when a project team
responsible for controls was established in 1955, which went on to successfully develop the first NC and servo system in the private sector in Japan, in 1956.
The targets at its beginnings were to become a company, though small in size, having the robustness of a giant with roots firmly spread in the ground, and to concentrate on technology to go forward, by "walking a straight and narrow path." This is being pursued to this day.
In order to turn this vision into reality, the FANUC Group has established "Genmitsu (Strict Preciseness)" and "Tomei (Transparency)" as its basic principles. In these principles lie the beliefs that a company will last forever and be sound with strict preciseness, and that the corruption of an organization and downfall of a company will start from a lack of transparency.
FANUC engages in the FA, ROBOT and ROBOMACHINE businesses. The FA Unit encompasses basic technologies consisting of NCs, servos and lasers, which are also applied to the ROBOT and ROBOMACHINE Units. In addition, by actively incorporating IoT/AI technologies in all three areas, the Company endeavors to make FANUC products more efficient for customers to use.
Being true to its origins as a supplier of production goods, maintenance and service support is provided for FANUC products for as long as they are used by customers.
Through such activities, the FANUC Group contributes to the development of manufacturing industries in Japan and overseas, by promoting automation and efficiency in customers' factories. FANUC expects to steadily grow in the field of factory automation, which is extremely promising in the mid-to-long term.
(2) Business Environment and Challenges
As FANUC products are production goods that are significantly affected by economic changes, we continue management from a long-term perspective without being affected by short-term events.
Regarding the business environment surrounding the FANUC Group, with increased geopolitical risk and concerns over economic slowdown and others, it is anticipated that the situation will remain difficult and unpredictable for some time. On the other hand, the demand for factory automation is expected to grow over the mid-to-long term.
Guided by the slogan "one FANUC," the FANUC Group will take maximum advantage of our unique
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strengths in uniting the three businesses of FA, ROBOT and ROBOMACHINE with SERVICE to jointly provide total solutions and taking care of customers throughout the world as a team. In particular, we perceive collaboration between CNC machine tools and Robots, and between Robomachines and Robots, as one of our key themes, and will develop products accordingly.
In addition, the FANUC Group will adhere to its origins as a producer of production goods to be used at manufacturing sites, and will be thorough in implementing our slogan "Reliable," "Predictable," "Easy to Repair" in product development, to minimize downtime in our customers' factories and improve their operating rates. Moreover, we will develop products with an even greater focus on ease of use, in order to respond to the increase in demands for factory automation, as acquiring skilled workers becomes more difficult.
Furthermore, we will practice a "Service First" based on providing high-level maintenance services pursuant to FANUC's global standard anywhere in the world, and "lifetime maintenance" for as long as our customers use our products. In particular, we will continue to focus on "lifetime maintenance," as it is one of the core strengths of the FANUC Group, which is difficult for competitors to imitate.
Moreover, we will focus on the area of factory automation, in which we can exhibit the Company's strengths, and proactively invest in research and development with an aim to develop and launch highly competitive products to the market. In addition, we will improve our intellectual property.
The FANUC Group believes that IoT and AI are indispensable technologies for FANUC to continue developing and launching highly competitive products to the market. By aggressively adopting these technologies in all areas of FA, ROBOT, and ROBOMACHINE products, we will further promote customers' production efficiency.
We will also aim to make FANUC's products significantly contribute to the achievement of SDGs. We will pursue basic measures to strengthen our corporate structure from a long-term perspective, such as reinforcing product competitiveness, strengthening sales and service activities, promoting automation and robotization in factories, reducing costs and time, and enhancing work efficiency. In addition, as a supplier of production goods, we are establishing multiple production sites and service centers in order to fulfill our responsibilities as a supplier and maintain service activities under any circumstance. Furthermore, we are also fortifying our supply chain by increasing the number of parts
suppliers and maintaining appropriate inventory levels for parts.
In addition, we consider human resources as being most vital for achieving medium and long-term growth. From this perspective, we will work on the key issues of creating better working environments for our employees and further improving employee motivation. Furthermore, with an eye to the future, we will proactively invest in human capital so that we may recruit the necessary personnel and strengthen employee training. Through these initiatives, we will continue to enhance our human capital.
With regard to management, in addition to the operating income ratio, ordinary income ratio, and ROE, market shares will also be considered to be an important business indicator, and decisions will be made comprehensively with these in mind. Furthermore, our Company will accurately identify its cost of capital, and shall target the average equity spread (difference between ROE and cost of capital) for five years to become a plus figure.
The FANUC Group will continue to thoroughly practice our basic principles of "Strict Preciseness 7