Lasertec : Consolidated Financial Results for the First Quarter Ended September 30, 2025 (Japanese GAAP)

October 31, 2025

Company name: Lasertec Corporation Stock exchange listing: Tokyo Stock Exchange Code number: 6920

URL: https://www.lasertec.co.jp/ Representative: Tetsuya Sendoda

Representative Director, President & Chief Executive Officer

Contact for inquiries: Hisashi Yokokawa Executive Officer

Phone: +81-45-478-7111

Dividend payable date: --

Preparation of supplementary

material for financial results: Yes

Financial results briefing: Yes (for institutional investors and analysts)

(Figures less than a million yen are rounded down.)

1. Consolidated financial results for the three-month period ended September 30, 2025

   1. Consolidated operating results

      (The percentage figures indicate changes from the same period of the previous fiscal year.)

      	Net sales		Operating income		Ordinary income		Net income attributable to owners of parent
      Three months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
      September 30, 2025	54,171	47.5	26,728	67.9	27,141	113.2	19,057	113.4
      September 30, 2024	36,737	(22.3)	15,922	54.9	12,728	16.5	8,930	16.0

      (Note) Comprehensive income: Three months ended September 30, 2025:19,228 million yen [182.9%]

      Three months ended September 30, 2024:6,795 million yen [-12.2%]

      	Net income per share	Net income per share, fully diluted
      Three months ended	Yen	Yen
      September 30, 2025	211.46	211.28
      September 30, 2024	99.03	98.94

   2. Consolidated financial position

   	Total assets	Net assets	Equity ratio	Net assets per share
   	Million yen	Million yen	%	Yen
   September 30, 2025	309,268	205,902	66.6	2,288.86
   June 30, 2025	329,601	209,900	63.7	2,327.06

   (Reference) Equity: September 30, 2025: 205,880 million yen June 30, 2025: 209,878 million yen

2. Dividends

   	Dividend per share
   	End of 1Q	End of 2Q	End of 3Q	Year-end	Total
   	Yen	Yen	Yen	Yen	Yen
   Fiscal year ended June 30, 2025	--	115.00	--	214.00	329.00
   Fiscal year ending June 30, 2026	--
   Fiscal year ending June 30, 2026 (Forecast)		132.00	--	197.00	329.00

   (Note) Revision to forecast of dividends since the last announcement: No

3. Forecast of consolidated financial results for the year ending June 30, 2026

(The percentage figures indicate changes from the previous fiscal year.)

(Note) Revision to forecast of financial results since the last announcement: No

※ Notes

1. Significant changes in the scope of consolidation during the period: None Number of subsidiaries added to consolidation: None (Company names: --),

   Number of subsidiaries excluded from consolidation: None (Company names: --)

2. Application of special accounting procedures to the preparation of quarterly consolidated financial statements: None

3. Changes in accounting policy, changes or restatement of accounting estimates

   ① Changes in accounting policy due to revision of accounting standards: None

   ② Changes in accounting policy other than ①: None

   ③ Changes in accounting estimates: None

   ④ Restatement due to revision: None

4. Number of issued shares (common stock):

(Shares)

※ Audits performed by certified public accountants for the quarterly consolidated financial statements attached to this report: None

※ Statement about proper use of forecast of financial results and other special notes

(Cautions about forward-looking statements)

The forecast of financial results provided in this report is based on the information currently available to the company and based on certain assumptions it has judged as reasonable. Actual results may differ materially from the forecast due to various factors.

(Availability of presentation materials of financial results)

Lasertec will make a presentation of financial results to institutional investors and analysts on October 31, 2025. The presentation materials provided for this meeting will be available on our website.

Contents of Supplementary Material

1. Overview of Operating Results and Others 2

   1. Overview of operating results for the quarter 2

   2. Overview of financial position for the quarter 2

   3. Information concerning forecast of consolidated financial results 2

2. Consolidated Financial Statements and Notes 3

   1. Consolidated balance sheet 3

   2. Consolidated statement of income and consolidated statement of comprehensive income 5

      Consolidated statement of income 5

      Consolidated statement of comprehensive income 6

   3. Consolidated statement of cash flows 7

   4. Notes to consolidated financial statements 8

      (Notes on information by business segment) 8

      (Notes on significant changes in the amount of shareholders' equity) 8

      (Notes on going concern assumption) 8

      (Revenue recognition) 9

3. Supplementary Information 10

   1. Production by category 10

   2. Sales by category 10

1. Overview of Operating Results and Others

   1. Overview of operating results for the quarter

      During the first three months of this fiscal year, uncertainty in the economic outlook continued to prevail due to heightened geopolitical risks and concerns over the impact of policies in major economies.

      In the semiconductor industry, our primary market, AI-related applications, such as AI servers for data centers and high-bandwidth memory (HBM), drove market demand. Demand for power semiconductors remained weak due to stagnation in the electric vehicle market.

      Under these circumstances, our consolidated net sales for the three-month period ended September 30, 2025, totaled 54,171 million yen (up 47.5% year-on-year). By product segment, semiconductor-related products accounted for 41,752 million yen (up 62.6% year-on-year). Sales of other products accounted for 216 million yen (down 80.2% year-on-year) and services for 12,202 million yen (up 22.5% year-on-year).

      As for consolidated incomes during this period, we recorded an operating income of 26,728 million yen (up 67.9% year-on-year), an ordinary income of 27,141 million yen (up 113.2% year-on-year), and 19,057 million yen in net income attributable to owners of parent (up 113.4% year-on-year).

   2. Overview of financial position for the quarter

      ① Financial position

      Total assets at the end of the period amounted to 309,268 million yen, down 20,333 million yen from the end of the previous fiscal year. This was mainly due to the 17,444 million-yen decrease in cash and deposits and the 4,075 million-yen decrease in notes and accounts receivable-trade, and contract assets, despite the 1,725 million-yen increase in other current assets.

      Liabilities at the end of the period amounted to 103,366 million yen, down 16,335 million yen from the end of the previous fiscal year. This was mainly due to the 18,016 million-yen decrease in income taxes payable, the 1,450 million-yen decrease in other current liabilities, and the 1,226 million-yen decrease in accounts payable-trade, despite the 4,005 million-yen increase in advances received.

      Total net assets, which consist of shareholders' equity, accumulated other comprehensive income, and subscription rights to shares, amounted to 205,902 million yen. The capital-to-asset ratio was 66.6%.

      ② Cash flows

      Cash and cash equivalents at the end of the period amounted to 68,642 million yen, down 17,444 million yen from the end of the previous fiscal year. Following is the status of cash flows and their contributing factors during the three-month period.

      Net cash provided by operating activities amounted to 5,937 million yen (whereas 1,205 million yen was used in the first quarter of the previous fiscal year). This is mainly due to the fact that the sum of cash receipts, such as the 27,141 million yen in income before income taxes and the 4,300 million-yen decrease in notes and accounts receivable-trade exceeded the sum of cash payments, such as the 24,420 million yen spent for income taxes paid.

      Net cash used in investing activities amounted to 346 million yen (up 13.1% year-on-year). This is mainly due to the 314 million yen used in the purchase of property, plant and equipment and the 26 million yen used in the purchase of intangible assets.

      Net cash used in financing activities amounted to 23,239 million yen (up 457.9% year-on-year). This is mainly due to the 19,300 million yen used for cash dividends and the 3,926 million yen used in the purchase of treasury shares.

      There was also a 204 million-yen increase in cash and cash equivalents due to the effect of the exchange rate change on cash and cash equivalents.

   3. Information concerning forecast of consolidated financial results

   We have not revised our forecast for the fiscal year ending June 2026 announced on August 7, 2025.

2. Consolidated Financial Statements and Notes
   1. Consolidated balance sheet Assets Current assets

      Previous (As at

      June 30, 2025)

      (In millions of yen)

      Current (As at

      September 30, 2025)

      Cash and deposits 86,087 68,642

      Notes and accounts receivable-trade, and contract assets	24,790	20,714
      Work in process	123,672	123,660
      Raw materials and supplies	45,333	46,090
      Other	7,145	8,870
      Allowance for doubtful accounts	(167)	(21)
      Total current assets	286,861	267,957
      Noncurrent assets Property, plant and equipment
      Buildings and structures, net	10,998	10,864
      Machinery, equipment and vehicles, net	4,499	4,116
      Tools, furniture and fixtures, net	1,428	1,544
      Leased assets, net	163	152
      Land	13,146	13,146
      Construction in progress	50	132
      Total property, plant and equipment	30,285	29,955
      Intangible assets	2,451	1,987
      Investments and other assets
      Investment securities	1,007	820
      Retirement benefit assets	103	43
      Deferred tax assets	8,371	7,961
      Other	521	542
      Total investments and other assets	10,003	9,367
      Total noncurrent assets	42,740	41,310
      Total assets	329,601	309,268

      Previous (As at

      (In millions of yen)

      Current (As at

      June 30, 2025) September 30, 2025)

      Liabilities

      Current liabilities Accounts payable-trade	9,606	8,379
      Income taxes payable	26,119	8,102
      Advances received	64,388	68,394
      Deferred revenue	10,085	9,309
      Provision for bonuses	59	1,855
      Provision for directors' bonuses	907	231
      Other	6,752	5,302
      Total current liabilities	117,919	101,574
      Noncurrent liabilities Retirement benefit liability	607	602
      Provision for share awards	687	795
      Asset retirement obligations	254	255
      Other	231	137
      Total noncurrent liabilities	1,782	1,791
      Total liabilities	119,701	103,366
      Net assets Shareholders' equity
      Capital stock	931	931
      Capital surplus	1,359	1,359
      Retained earnings	206,621	206,378
      Treasury shares	(976)	(4,902)
      Total shareholders' equity	207,936	203,767
      Accumulated other comprehensive income
      Valuation difference on available-for-sale securities	602	506
      Foreign currency translation adjustment	1,433	1,698
      Remeasurements of defined benefit plans	(93)	(90)
      Total accumulated other comprehensive income	1,942	2,113
      Subscription rights to shares	21	21
      Total net assets	209,900	205,902
      Total liabilities and net assets	329,601	309,268

   2. Consolidated statement of income and consolidated statement of comprehensive income (Consolidated statement of income)

      (In millions of yen)

      	Previous	Current
      	(July 1, 2024 thru	(July 1, 2025 thru
      	September 30, 2024)	September 30, 2025)
      Net sales	36,737	54,171
      Cost of sales	15,643	21,363
      Gross profit	21,094	32,807
      Selling, general and administrative expenses	5,171	6,079
      Operating income	15,922	26,728
      Non-operating income
      Interest income	12	35
      Gain on sale of investment securities	--	221
      Foreign exchange gains	--	153
      Other	115	9
      Total non-operating income	128	420
      Non-operating expenses
      Interest expenses	5	--
      Foreign exchange losses	3,313	--
      Other	3	7
      Total non-operating expenses	3,322	7
      Ordinary income	12,728	27,141
      Income before income taxes	12,728	27,141
      Income taxes-current	4,671	7,702
      Income taxes-deferred	(873)	381
      Total income taxes	3,797	8,083
      Net income	8,930	19,057
      Net income attributable to owners of parent	8,930	19,057

      (Consolidated statement of comprehensive income)

      Previous (July 1, 2024 thru

      September 30, 2024)

      (In millions of yen)

      Current (July 1, 2025 thru

      September 30, 2025)

      Net income 8,930 19,057 Other comprehensive income

      Valuation difference on available-for-sale securities

      (246) (96)

      Foreign currency translation adjustment (1,888) 265

      0 2

      Remeasurements of defined benefit plans, net of tax

      Total other comprehensive income (2,134) 171

      Comprehensive income 6,795 19,228

      Comprehensive income attributable to owners of parent

      Comprehensive income attributable to non-controlling interests

      6,795 19,228

      -- --

      (3) Consolidated statement of cash flows
      		(In millions of yen)
      	Previous	Current
      	(July 1, 2024 thru	(July 1, 2025 thru
      	September 30, 2024)	September 30, 2025)
      Cash flows from operating activities
      Income before income taxes	12,728	27,141
      Depreciation and amortization	965	1,199
      Loss (gain) on sale of investment securities	--	(221)
      Increase (decrease) in allowance for doubtful accounts	20	(148)
      Increase (decrease) in provision for bonuses	1,684	1,797
      Increase (decrease) in provision for directors' bonuses	(838)	(676)
      Increase (decrease) in retirement benefit liability	11	(5)
      Increase (decrease) in provision for share awards	(208)	105
      Interest and dividend income	(12)	(35)
      Interest expenses	5	--
      Foreign exchange losses (gains)	2,342	240
      Decrease (increase) in notes and accounts receivable-trade	7,811	4,300
      Decrease (increase) in inventories	(10,703)	(822)
      Increase (decrease) in accounts payable-trade	168	(1,258)
      Increase (decrease) in advances received	3,372	3,653
      Other, net	(3,744)	(4,948)
      Sub-total	13,603	30,321
      Interest and dividend income received	12	35
      Interest paid	(5)	--
      Income taxes paid	(14,816)	(24,420)
      Net cash provided by (used in) operating activities	(1,205)	5,937
      Cash flows from investing activities
      Purchase of property, plant and equipment	(283)	(314)
      Purchase of intangible assets	(22)	(26)
      Payments for guarantee deposits	(0)	(4)
      Net cash provided by (used in) investing activities	(306)	(346)
      Cash flows from financing activities
      Net increase (decrease) in short-term borrowings	10,000	--
      Cash dividends paid	(14,159)	(19,300)
      Purchase of treasury shares	--	(3,926)
      Other, net	(6)	(12)
      Net cash provided by (used in) financing activities	(4,165)	(23,239)
      Effect of exchange rate change on cash and cash equivalents	(1,819)	204
      Net increase (decrease) in cash and cash equivalents	(7,496)	(17,444)
      Cash and cash equivalents at beginning of period	38,152	86,087
      Cash and cash equivalents at end of period	30,655	68,642

      (4) Notes to consolidated financial statements

      (Notes on information by business segment)

      Since we only have one business segment-the design, manufacture, and sale of inspection and measurement systems-we do not provide information by business segment.

      (Notes on significant changes in the amount of shareholders' equity)

      Pursuant to the resolution passed at the Board of Directors meeting held on August 7, 2025, we purchased 241,300 shares of treasury stock. During the first quarter, treasury shares increased by 3,926 million yen, bringing the total to 4,902 million yen at the end of the period.

      (Notes on going concern assumption) None

      (Revenue recognition)

      Revenue from contracts with customers

      Following is a breakdown of the Group's revenue by major region, the timing of its recognition, and its relation to the Group's main products and services.

      First three months of the previous fiscal year

      (In millions of yen)

      (July 1, 2024 thru September 30, 2024)
      	Sales of products		Services	Total
      	Semiconductor-related products	Other products
      By country/region
      Japan	2,019	176	709	2,905
      Korea	10,701	49	1,176	11,928
      Taiwan	6,634	13	1,788	8,436
      Asia (Other)	1,328	855	906	3,090
      United States of America	4,634	--	4,601	9,235
      Europe	362	--	778	1,141
      Total	25,681	1,095	9,960	36,737
      By timing of revenue recognition
      Goods transferred at a point in time	21,874	1,069	6,008	28,952
      Services transferred over time	3,806	26	3,952	7,785
      Total	25,681	1,095	9,960	36,737

      (Note) Figures for sales by country/region are based on the location of the customer.

      First three months of the current fiscal year

      (In millions of yen)

      (July 1, 2025 thru September 30, 2025)
      	Sales of products		Services	Total
      	Semiconductor-related products	Other products
      By country/region
      Japan	2,862	186	969	4,019
      Korea	12,440	--	2,022	14,463
      Taiwan	3,210	9	2,839	6,059
      Asia (Other)	4,595	20	1,027	5,644
      United States of America	17,633	--	4,372	22,005
      Europe	1,009	--	970	1,979
      Total	41,752	216	12,202	54,171
      By timing of revenue recognition
      Goods transferred at a point in time	37,971	174	6,157	44,303
      Services transferred over time	3,780	42	6,044	9,868
      Total	41,752	216	12,202	54,171

      (Note) Figures for sales by country/region are based on the location of the customer.

3. Supplementary Information

1. Production by category

   Production by category for the first three months of the fiscal year is as follows.

   (In millions of yen)

   (July 1, 2025 thru September 30, 2025)

   Category	Previous	Current	Year-on-year increase (%)
   Finished goods Semiconductor-related products	54,610	32,843	(39.9)
   Other products	1,656	742	(55.2)
   Subtotal	56,267	33,585	(40.3)
   Services	9,960	12,202	22.5
   Total	66,228	45,788	(30.9)

   (Note) Figures shown above are based on sales prices.

2. Sales by category

Sales by category for the first three months of the fiscal year are as follows.

(In millions of yen)

(July 1, 2025 thru September 30, 2025)