Presentation of Financial Results for the year ended
March 31, 2026
May 14, 2026
SMC Corporation Yoshiki Takada, President
FY2025 Summary
（Billions of Yen）
Orders have recovered since the latter half of the third quarter in Japan, North America, and South Korea.
Results exceeded the revised guidance, supported in part by the positive impact of yen depreciation.
By industry, semiconductor-related demand remained strong across all regions. In Greater China, a broad range of industries, including electrical equipment and EV-related industry, remained strong. In automotive-related industry excluding Greater China, capital expenditure continued to be deferred amid geopolitical risks. Machine tool-related industry showed strength mainly in Greater China and Japan.
Capex: 150.2 billion yen vs. planned 180.0 billion yen
The year-end dividend is set at 500 yen per share, and the annual dividend totals 1,000 yen.
Together with a share buyback of approximately 30.0 billion yen, we will maintain a total payout ratio of 50% or higher.
FY24 Result Amount vs net sales | FY25 Result Amount vs net sales | YoY (FY24 vs FY25) Amount % | FY25 Forecast Amount vs net sales | ||
Net sales | 792.1 | 842.5 | 50.4 6.4% | 816.0 | |
Cost of sales | 429.0 54.2% | 461.0 54.7% | 32.0 7.5% | 449.0 55.0% | |
Gross profit | 363.0 45.8% | 381.4 45.3% | 18.4 5.1% | 367.0 45.0% | |
Selling, general & administrative expenses | 172.7 21.8% | 190.8 22.7% | 18.0 10.5% | 184.0 22.5% | |
Operating profit | 190.2 24.0% | 190.5 22.6% | 0.3 0.2% | 183.0 22.4% | |
Ordinary profit | 209.9 26.5% | 235.5 28.0% | 25.6 12.2% | 209.0 25.6% | |
Net profit | 156.3 19.7% | 167.3 19.9% | 10.9 7.0% | 153.0 18.8% | |
Average exchange rate | |||||
USD | 152.59 | 150.64 | -1.95 -1.3% | 147.10 | |
EUR | 163.86 | 174.60 | +10.74 6.6% | 172.00 | |
CNY | 21.10 | 21.21 | +0.11 0.5% | 20.60 | |
(Progress) | |||||
Depreciation | 34.3 | 44.8 | 10.5 30.7% | 42.3 106.0% | |
R&D expenses | 33.3 | 39.9 | 6.6 19.9% | 37.0 108.1% | |
FY2026 Guidance
FY24 Result Amount vs net sales | FY25 Result Amount vs net sales | FY26 Forecast Amount vs net sales | YoY (FY25 vs FY26) Amount % | ||
Net sales | 792.1 | 842.5 | 1,000.0 | 157.4 | 18.7% |
Cost of sales | 429.0 54.2% | 461.0 54.7% | 551.0 55.1% | 89.9 | 19.5% |
Gross profit | 363.0 45.8% | 381.4 45.3% | 449.0 44.9% | 67.5 | 17.7% |
Selling, general & administrative expenses | 172.7 21.8% | 190.8 22.7% | 230.0 23.0% | 39.1 | 20.5% |
Operating profit | 190.2 24.0% | 190.5 22.6% | 219.0 21.9% | 28.4 | 14.9% |
Ordinary profit | 209.9 26.5% | 235.5 28.0% | 239.0 23.9% | 3.4 | 1.4% |
Net profit | 156.3 19.7% | 167.3 19.9% | 170.0 17.0% | 2.6 | 1.6% |
Average exchange rate | |||||
USD | 152.59 | 150.64 | 155.00 | +4.36 | 2.9% |
EUR | 163.86 | 174.60 | 183.00 | +8.40 | 4.8% |
CNY | 21.10 | 21.21 | 22.70 | +1.49 | 7.0% |
Capital expenditure | 107.8 | 150.2 | 100.0 | -50.2 | -33.4% |
Depreciation | 34.3 | 44.8 | 62.3 | 17.4 | 38.9% |
R&D expenses | 33.3 | 39.9 | 47.0 | 7.0 | 17.5% |
Dividend per share (Yen) | 1,000 | 1,000 | 1,000 | 0 | |
(Billions of Yen)
We plan to achieve our medium-term target of 1 trillion yen in sales. The assumed exchange rate is 155 yen per USD.
Demand in semiconductor-related sector has been recovering rapidly across all regions, while demand in automotive-related industry is expected to increase, driven by investments in HVs. By region, investments in automation are expected across a broad range of manufacturing industries in Greater China.
Operating profit is expected to increase, supported by higher sales volumes, price revisions, and productivity improvements, despite higher personnel expenses due to the increase in sales staff and rising depreciation costs.
Capex for capacity expansion and BCP-related investments have peaked out; however, we plan capex of 100.0 billion yen, including approximately 30.0 billion yen carried over from the previous year, with investments in the Vietnam plant and overseas sales bases.
50.0%
54.9 40.9%60
50.5% 50.8% 48.8% 66.6% 29.9 57.2% 24.9 29.9 37.9% 37.1%80
75.0%
501200
1000 1000 1000
1000
950
900
800
750
600
500
400
400
400
200
0
2018 2019 2020 2021 2022 2023 2024 2025 2026
27.3% 63.2 31.6% 63.8 61 26.1% 58.4 0 25.7% 27.340
34.3% 28.563.1 25.0%
20
24.1% 51.4% 49.2 26.8 26.6 33.10
0.0%
2018 2019 2020 2021 2022 2023 2024 2025 2026
49.9120
100.0%
100
Dividends
Share buyback Total payout rartio
Dividend payout ratio
56.4% 51.1%Shareholder Returns Policy
We aim to enhance returns by maintaining stable dividends as our core policy, while flexibly implementing share buybacks in response to circumstances. Regarding share buybacks, we will repurchase our own shares up to 50 billion yen, compared with 30 billion yen in the previous year.
(Yen)
Dividend per share(Bil Yen)
4
Mid-Long term Priority Measures
１．Sales Strategies based on Our Strengths → Sales Growth and Market Share Expansion・Wide global footprint : Comprehensive coverage of global markets, full utilization of distributed and stable sales force and customer base.
・Wide product lineup and Short delivery lead time system︓ "One-stop shop" services to meet a wide range of customers' needs, selling products as a package, not as a single item.
２．Aggressive Capex → Differentiation from Competitors and Improving Competitiveness・Product supply capability︓ To make necessary investments steadily regardless of business conditions
・Production diversification︓ Sustainable and resilient product supply system
・Human capital investment︓To secure talented human resources in global and to increase productivity
３．Establish a System for Developing Products that Meet the Performance Required by Customers
・Never miss sales opportunities through rapid product development in response to customer requests
・Continue to enhance compact and lightweight product lineups and environmentally friendly products
・Social contribution to the prevention of global warming through sales of energy-saving products
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