Fuji Electric : Management Plan for FY2026 PDF

About this update from Fuji Electric Co., Ltd.

‌Management Plan for FY2026‌ Fuji Electric Co., Ltd. April 28, 2026 © Fuji Electric Co., Ltd. ‌Key Points Management Plan for FY2026 Net Sales Operating Profit Operating Profit Ratio Profit Attributable to Owners of Parent ¥1,275.0 billion ¥142.5 billion 11.2% ¥105.0 billion +¥47.4 billion +¥5.9 billion +0.0% +¥7.0 billion YoY profit attributable to owners of parent Shareholder Return Striving to meet all major targets of the Medium-Term Management Plan Target of record-breaking net sales, operating profit, ordinary profit, and Net sales and operating profit growth supported by Energy segment Decided to pay an interim dividend forecast of ¥107 per share to pursue full-year dividend payout ratio target of 30% Decided to implement the acquisition of treasury stock with an upper limit of ¥21.0 billion © Fuji Electric Co., Ltd. 2 ‌Contents FY2026 Management Plan (YoY Comparison) P. 4 Shareholder Return P.15 ‌Contents FY2026 Management Plan (YoY Comparison) P. 4 Shareholder Return P.15 ‌Summary of Consolidated Management Plan for FY2026 (YoY Comparison) Target of record-breaking net sales, operating profit, ordinary profit, and profit attributable to owners of parent FY2025 Results FY2026 Management Plan Change Net Sales 1,227.6 1,275.0 -12.3* 47.4 Operating Profit 136.6 142.5 -1.8* 5.9 (Operating Profit Ratio) (11.1%) (11.2%) (0.0%) Ordinary Profit 139.3 143.0 3.7 Profit Attributable to Owners of Parent 98.0 105.0 7.0 (Ratio of Profit Attributable to Owners of Parent to Net Sales) (8.0%) (8.2%) (0.2%) (Billion Yen) US$ EURO RMB FY2026 Exchage Rate ¥150.00 ¥175.00 ¥21.90 Sensitivity of operating profit to foreign exchange influences -160 Million Yen 90 Million Yen 250 Million Yen * Exchage rate effect Financial Indicators ROE 13.1% 12.8% ROIC 12.6% 12.6% Equity Ratio 56.9% 57.8% Net D/E Ratio 0.0 times 0.0 times ※Net D/E Ratio: Net interest-bearing dept ÷ Equity ※ US$ and EURO: Impact of ¥1-fluctuation RMB: Impact of 1% fluctuations ‌Breakdown of Changes in Operating Profit for FY2026 (YoY Comparison) Higher profit, despite adverse impacts fixed costs increases, rising material prices, and foreign exchange influences, due to benefits of sales and production volume increases, differences in profitability between models, and cost reductions (Billion Yen) Increase in sales and production volumes (+30.7) Increase in (-29.3) fixed costs Added value Exchage rate YoY (+5.9) 136.6 and others (+6.3) effect (-1.8) 142.5 +25.8 +5.4 -24.9 Effect of higher product selling prices Impacts of rising raw material prices Differences in model mix, profitability between projects and cost reductions -3.2 -11.5 -11.9 -2.7 Labor cost R&D Deprecation and leases paid Other expenses FY2025 Results FY2026 Management Plan ‌Net Sales and Operating Profit by Segment for FY2026 (YoY Comparison) Business performance driven by Energy segment (Billion Yen) FY2025 Results FY2026 Management Plan Change Net Sales Operating Profit Operating Profit Ratio Net Sales Operating Profit Operating Profit Ratio Net Sales Operating Profit Operating Profit Ratio Energy 396.4 59.5 15.0% 455.0 71.0 15.6% -1.6* 58.6 0.6% -0.1* 11.5 Industry 465.0 44.4 9.5% 454.0 48.0 10.6% -4.9* -11.0 1.0% -0.6* 3.6 Semiconductors 237.4 23.5 9.9% 225.0 13.0 5.8% -5.5* -12.4 -4.1% -1.0* -10.5 Food and Beverage Distribution 108.0 13.1 12.2% 115.0 14.0 12.2% 7.0 0.9 0.0% Others 58.4 3.9 6.6% 60.0 3.9 6.5% 1.6 0.0 -0.1% Elimination and Corporate -37.5 -7.8 - -34.0 -7.4 - 3.5 0.4 - Total 1,227.6 136.6 11.1% 1,275.0 142.5 11.2% -1.8* 5.9 0.0% -12.3* 47.4 *Exchage rate effect ※Reflecting the figures of the business reorganization, where a portion of the automation systems business of Industry segment was transferred to the equipment construction business of Energy segment ‌Performance Outlook by Segment for FY2026 (YoY Comparison) Energy (Billion Yen) FY2025 Results FY2026 Management Plan Change Performance Outlook Net Sales 396.4 455.0 58.6 Higher sales and profit in all subsegments Driven by increased demand in energy storage systems, industrial substation and power supply equipment of the energy management business, and increased demand in data centers of the power supply and facility systems business Operating Profit (Operating Profit Ratio) 59.5 (15.0%) 71.0 (15.6%) 11.5 (0.6%) ※Reflecting the figures of the business reorganization, where a portion of the automation systems business of Industry segment was transferred to the equipment construction business of Energy segment Industry (Billion Yen) FY2025 Results FY2026 Management Plan Change Performance Outlook 465.0 454.0 -11.0 Lower sales due to the absence of large-scale IT solutions Net Sales projects recorded in the previous fiscal year, although increased demand in the factory automation components and the automation systems businesses Operating Profit (Operating Profit Ratio) 44.4 (9.5%) 48.0 (10.6%) 3.6 (1.0%) Higher profit as benefits of sales volume accompanying with demand growth, price revisions and differences in model mix outweighed increases in fixed costs and impacts of rising raw material prices ※Reflecting the figures of the business reorganization, where a portion of the automation systems business of Industry segment was transferred to the equipment construction business of Energy segment ‌Performance Outlook by Segment for FY2026 (YoY Comparison) Semiconductors (Billion Yen) FY2025 Results FY2026 Management Plan Change Performance Outlook 237.4 225.0 -12.4 Higer sales of industrial semiconductors following growth in Net Sales demand for data centers and semiconductor manufacturing equipment Lower sales of automotive semiconductors due to reductions in Operating Profit (Operating Profit Ratio) 23.5 (9.9%) 13.0 (5.8%) -10.5 (-4.1%) demand for electrified vehicles, although increased demand for SiC Decreased profit mainly due to the impact of rising raw material prices and lower sales of automotive semiconductors Food and Beverage Distribution (Billion Yen) FY2025 Results FY2026 Management Plan Change Performance Outlook Net Sales 108.0 115.0 7.0 Higher sales and profit in the vending machine business, despite decline in domestic beverage vending machine demand, due to increases attributable to market share growth Operating Profit (Operating Profit Ratio) 13.1 (12.2%) 14.0 (12.2%) 0.9 (0.0%) Higher sales and profit in the store distribution business due to rises in large-scale counter fixture projects, and benefits of new product sales promotion measures targeting new fields ‌Net Sales by Japan and Overseas Area for FY2026 (YoY Comparison) Higher sales in Asia due to strong demand seen in Energy segment Change -12.3* 1,227.6 1,275.0 +47.4 (Billion Yen) 882.8 72% 344.8 28% 363.9 29% Overseas 911.1 71% FY2025 Results FY2026 Management Plan Change Overseas 28% 344.8 29% 363.9 -12.3* 19.1 Asia 10% 124.5 13% 163.4 -2.8* 38.9 (ex. China) India 3% 31.1 3% 35.7 -1.3* 4.7 China 9% 112.1 8% 103.2 -5.5* -8.9 Europe 3% 42.1 2% 30.3 -1.4* -11.7 Americas 3% 35.0 2% 31.2 -1.3* -3.7 Energy +31.0 Industry +3.2 Semiconductors -19.0 Food and Beverage Distribution +0.7 Power Generation +7.1 Energy Management +2.9 Power Supply and Facility Systems +25.7 Factory Automation Components +4.4 Automation Systems +1.2 ED&C Components -2.9 Semiconductors -6.7 Semiconductors -12.3 Power Supply and Facility Systems -2.1 Social Solutions -1.4 +19.1 Japan +28.3 FY2025 Results FY2026 Management Plan * Exchage rate effect ※Reflecting the figures of the business reorganization, where a portion of the automation systems business of Industry segment was transferred to the equipment construction business of Energy segment ‌Capital Investment for FY2026 (YoY Comparison) Continuation of investment for augmenting Energy segment production capacity Coordinate the execution of Semiconductor segment investment in light of customer's demand (Billion Yen) 56.7 2.0 56.0 Change -0.7 18.2 8.0 10.0 14.6 1.8 34.9 2.2 20.3 - Investment in rationalization and in-house production 8 Others Food and Beverage Distribution SiC 8-inch production line (R&D) Expansion of 6-inch SiC device production (Matsumoto, Tsugaru) Semiconductors Production equipment for new products - Measuring instrument and ED&C components Industry Increases to substation equipment production capacity in response to demand growth Construction of new buildings (FSMBE, Kobe, Tsukuba) Relocation of production of switchgears from Chiba to Kawasaki FSMBE's new factory Energy FY2025 Results FY2026 Management Plan ‌Research and Development for FY2026 (YoY Comparison) Continuation of aggressive R&D investment in Energy and Industry segments and power semiconductor operations (Billion Yen) 38.9 41.6 Change +2.7 7.1 6.0 12.1 12.9 13.8 14.6 2.7 2.6 4.3 4.5 Parcel pick-up lockers Espresso machines Common Food and Beverage Distribution Automotive semiconductors (SiC/IGBT modules) Industrial semiconductors (SiC modules for renewable energy applications, 8th-generation IGBT modules) Semiconductors Industry Global substation equipment PCSs for green transformation market Power supplies for hydrogen production equipment Mobility products (automotive power electronics) Digital transformation solutions for manufacturing industry (diagnosis systems) Energy FY2025 Results FY2026 Management Plan ※The amount for R&D expenditures above have been divided by segment based on theme and may therefore, differ from the figures contained in the consolidated financial report. ‌Balance Sheet at the End of FY2026 (YoY Comparison) Increase total assets primarily due to increased notes receivables Planning to acquire treasury stock 3/31/26 3/31/27 Change Cash and deposit 70.9 69.2 -1.7 Notes and account receivables-trade, contract assets 444.7 485.7 41.0 Inventories 257.1 249.2 -7.8 Other current assets 59.2 68.0 8.8 Total current assets 831.8 872.2 40.3 Property, plant and equipment 348.9 343.2 -5.6 Intangible assets 37.7 46.9 9.2 Investments and other assets 188.2 183.0 -5.2 Total long-term assets 574.8 573.1 -1.6 Deferred assets 0.0 0.0 -0.0 Total assets 1,406.7 1,445.3 38.7 3/31/26 3/31/27 Change Notes and account payables-trade 190.9 197.3 6.4 Interest-bearing debts 89.1 79.6 -9.5 Other liabilities 283.8 290.0 6.3 Total liabilities 563.7 566.9 3.2 Share capital 47.6 47.6 -0.0 Capital surplus 63.8 63.8 - Retained earnings 565.9 639.1 73.1 Treasury shares -3.7 -24.7 -21.0 Shareholder's equity 673.6 725.7 52.1 Accumulated other comprehensive income 126.6 110.2 -16.4 Non-controlling interests 42.8 42.5 -0.3 Total nets assets 842.9 878.4 35.5 Total liabilities and net assets 1,406.7 1,445.3 38.7 Assets Liabilities and Net Sales (Billion Yen) ROE 13.1% 12.8% -0.3% ROIC 12.6% 12.6% -0.0% Equity ratio 56.9% 57.8% 1.0% Net interest-bearing debt *1 19.2 11.5 -7.7 Net D/E ratio (times) *2 0.0 0.0 -0.0 ※1 Net interest-bearing debt: Interest-bearing debt ー Cash and cash equivalents ※2 Net D/E ratio: Net interest-bearing debt ÷ Equity ‌Statement of Cash Flows (YoY Comparison) (Billion Yen) FY2025 Results FY2026 Management Plan Ⅰ Cash flows from operating activities 123.6 126.7 Ⅱ Cash flows from investing activities -72.6 -61.7 Ⅰ ＋ Ⅱ Free cash flow 51.0 65.0 Ⅲ Cash flows from financing activities -48.2 -64.5 Ⅳ Cash and cash equivalent at the end period 69.9 68.1 ‌Contents FY2026 Management Plan (YoY Comparison) P. 4 Shareholder Return P.15 ‌Shareholder Return Decided to pay an interim dividend forecast of ¥107 per share Decided to implement the acquisition of treasury stock with an upper limit of ¥21.0 billion 1株当たり期末配 当（円） 1株当たり中間配 当（円） 配当性向 Year-end dividend per share (Yen) Interim dividend per share (Yen) Dividend payout ratio 25.5% 28.4% 26.5% 39.7% 29.0% 26.8% 25.6% 24.9% 30.1% 18.9% 24.2% 13.6% 23.0% 23.3% 19.2% 24.3% 45 55 55 60 60 75 75 85 91 109 107 115 135 160 200 20 20 25 10 10 15 10 10 10 35 45 20 20 25 15 50 55 25 25 25 30 70 80 80 85 30 40 40 40 40 40 100 0% 40 45 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 (Fiscal Year) ※Calculated considering the stock consideration on October 1, 2018 ‌Reference: Forecasts for 1H FY2026 (YoY Comparison) (Billion Yen) FY2025 Results FY2026 Management Plan Change Net Sales 543.2 569.0 +3.8* 25.8 Operating Profit 42.8 44.0 +0.6* 1.2 (Operating Profit Ratio) (7.9%) (7.7%) (-0.1%) Ordinary Profit 41.7 43.0 1.3 Profit Attributable to Owners of Parent 26.6 33.5 6.9 (Ratio of Profit Attributable to Owners of Parent to Net Sales) (4.9%) (5.9%) (1.0%) FY2025 Results FY2026 Management Plan Change Net Sales Operating Profit Net Sales Operating Profit Net Sales Operating Profit Energy 166.1 18.9 191.0 27.0 +2.3* 24.9 +0.6* 8.1 Industry 205.4 11.1 209.0 12.0 +0.4* 3.6 -0.2* 0.9 Semiconductors 108.7 9.0 103.0 2.5 +1.2* -5.7 +0.2* -6.5 Food and Beverage Distribution 52.4 5.8 52.5 5.0 0.1 -0.8 Others 27.8 1.6 29.0 1.5 1.2 -0.1 Elimination and Corporate -17.4 -3.6 -15.5 -4.0 1.9 -0.4 Total 543.2 42.8 569.0 44.0 25.8 1.2 * Exchage rate effect ※Reflecting the figures of the business reorganization, where a portion of the automation systems business of Industry segment was transferred to the equipment construction business of Energy segment ‌Appendix Please refer to the following. https://www.fujielectric.com/common-resource-gl/ir/data/Appendix_E.xlsx ‌ Statements made in this documents or in the presentation to which they pertain regarding estimates or projections are forward-looking statements based on the company's judgments and assumptions in light of information currently available. Actual results may differ materially from those projected as a result of uncertainties inherent in such judgments and assumptions, as well as changes in business operations or other internal or external conditions. Accordingly, the company gives no guarantee regarding the reliability of any information contained in these forward-looking statements. These documents are for information purpose only, and do not constitute an inducement by the company to make investments. Unauthorized reproduction of these documents, in part or in whole, is prohibited. © Fuji Electric Co., Ltd.

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