Tokyo Electron : Summary of Consolidated Financial Results for the Third Quarter Ended December 31, 202​5 (Japanese GAAP)（953KB）

February 6, 2026

Name of Listed Company: Tokyo Electron Limited Stock Exchange Listing: Tokyo Security Code: 8035

URL: https://www.tel.com

Representative: Toshiki Kawai, Representative Director, President & CEO Contact: Shunsuke Maeno, Vice President of Accounting Dept.

Telephone: +81-3-5561-7000 Scheduled start date of dividends payment: -

Preparation of supplementary materials for the financial results: Yes Earnings release conference: Yes (for institutional investors and analysts)

Note: Amounts are rounded down to the nearest million yen.

1. Consolidated Financial Results for the Nine Months Ended December 31, 2025 (April 1, 2025 to December 31, 2025)

1. Consolidated Operating Results (Cumulative)

   Note: Percentages indicate changes from the same period of the previous fiscal year.

   Nine months ended

   	December 31,	2024	December 31,	2025
   		%		%
   Net sales (Millions of yen)	1,776,166	38.4	1,731,715	(2.5)
   Operating income (Millions of yen)	513,521	65.1	419,293	(18.3)
   Ordinary income (Millions of yen)	521,391	65.0	423,796	(18.7)
   Net income attributable to owners of parent (Millions of yen)	401,167	67.8	360,164	(10.2)
   Net income per share of common stock (Yen):
   Basic	870.41		785.90
   Diluted	867.91		783.23

   Comprehensive income: Nine months ended December 31, 2025: 411,606 million yen, 4.0%

   Nine months ended December 31, 2024: 395,959 million yen, 33.9%

2. Consolidated Financial Position

Total assets (Millions of yen) Total net assets (Millions of yen) Equity ratio (%)

Equity: 1,982,981 million yen (as of December 31, 2025)

1,839,929 million yen (as of March 31, 2025)

As of

March 31, 2025 December 31, 2025

2,625,981 2,635,015

1,855,209 2,005,249

70.1 75.3

Note: Revision to the dividends forecast most recently announced: Yes

Please refer to "1. Business Results (4) Description of Financial Estimates Information such as Consolidated Financial Forecasts" on page 5 for further information.

3. Consolidated Financial Forecasts for the Year Ending March 31, 2026 (April 1, 2025 to March 31, 2026)

Note: Percentages for the year ending March 31, 2026 indicate changes from the previous fiscal year.

Year ending March 31, 2026

Note: Revision to the financial forecasts most recently announced: Yes

Please refer to "1. Business Results (4) Description of Financial Estimates Information such as Consolidated Financial Forecasts" on page 5 for further information.

Notes

1. Significant changes in the scope of consolidation during the period: None

2. Adoption of special accounting methods for preparation of quarterly financial statements: Yes Please refer to "Notes" on page 11 for further information.

3. Changes in accounting policies, changes in accounting estimates and restatements

   1. Changes in accounting policies along with changes in accounting standards: None

   2. Other changes of accounting policies besides the number 1 above: None

   3. Changes in accounting estimates: None

   4. Restatements: None

4. Number of shares issued and outstanding (common stock)

   1. Number of shares issued and outstanding (including treasury stock)

      As of December 31, 2025: 471,632,733 shares

      As of March 31, 2025: 471,632,733 shares

   2. Number of shares of treasury stock

      As of December 31, 2025: 13,227,864 shares

      As of March 31, 2025: 13,522,282 shares

   3. Average number of shares outstanding (Cumulative)

Nine months ended December 31, 2025: 458,285,347 shares

Nine months ended December 31, 2024: 460,893,161 shares

Note: The number of shares of treasury stock includes the Company's shares held by "Executive compensation Board Incentive Plan (BIP) trust" and "share-delivering Employee Stock Ownership Plan (ESOP) trust". (1,308,766 shares as of December 31, 2025, 1,383,155 shares as of March 31, 2025)

In addition, these Company's shares are included in the treasury stock which is deducted in calculating the average number of shares.

• Status of external auditor's review procedures for attached financial statements: None

• Explanation of the appropriate use of financial forecast:

The financial forecasts and estimates in this Summary of Consolidated Financial Results are based on information available to the Company at the time of report issuance and certain assumptions judged to be reasonable by the Company, and therefore are not guarantees of future performance. Consequently, actual results may differ substantially from those described in this Summary of Consolidated Financial Results. Please refer to "1. Business Results (4) Description of Financial Estimates Information such as Consolidated Financial Forecasts" on page 5.

The Company plans to hold an online conference for institutional investors and analysts on February 6, 2026. Supplementary materials to be used at the conference will be posted on the Company's website on the same day. (URL: https://www.tel.com/ir/library/report/)

1. Overview of Operating Results

   During the first three quarters of the current fiscal year, despite ongoing concerns regarding geopolitical risks, inflation in Europe and the United States remained around 2%, and global economic conditions stayed resilient.

   In the electronics industry, in which the Tokyo Electron (TEL) Group operates, increased demand for AI servers used in data centers drove growth in the overall semiconductor market.

   Under the circumstances, in the semiconductor production equipment market, while capital investment in China showed signs of leveling off compared with the same period of the previous fiscal year, capital investment in semiconductors used for generative AI applications increased significantly.

   Against the backdrop of the transition to a data-driven society accompanied by the advancement of information and communication technology, the evolution of AI to enhance productivity and create new value, and efforts towards a decarbonized society, the role of semiconductors and their technological innovation are becoming increasingly important. Consequently, the semiconductor production equipment market is expected to grow even further in the medium- to long-term.

   As a result, the consolidated financial results (cumulative) for the third quarter of the current fiscal year were net sales of 1,731,715 million yen (year-on-year decline of 2.5%), operating income of 419,293 million yen (year-on-year decline of 18.3%), ordinary income of 423,796 million yen (year-on-year decline of 18.7%), and net income attributable to owners of parent of 360,164 million yen (year-on-year decline of 10.2%).

   The TEL Group has a single segment of "Semiconductor Production Equipment" and therefore information by segment has been omitted.

2. Overview of Financial Conditions

   Current assets at the end of the third quarter of the current fiscal year were 1,635,816 million yen, a decrease of 164,939 million yen compared to the end of the previous fiscal year. This was mainly due to a decrease of 84,081 million yen in notes and accounts receivable - trade, and contract assets, a decrease of 59,999 million yen in securities, and a decrease of 23,755 million yen in inventories.

   Property, plant and equipment increased by 132,255 million yen from the end of the previous fiscal year, to 573,961 million yen.

   Intangible assets increased by 561 million yen from the end of the previous fiscal year, to 36,411 million yen. Investments and other assets increased by 41,157 million yen from the end of the previous fiscal year, to 388,825 million yen.

   As a result, total assets increased by 9,034 million yen from the end of the previous fiscal year, to 2,635,015 million yen.

   Current liabilities decreased by 154,901 million yen from the end of the previous fiscal year, to 523,023 million yen. This was largely due to a decrease of 64,664 million yen in income taxes payable, a decrease of 33,256 million yen in provision for employees' bonuses, a decrease of 30,325 million yen in advances received, and a decrease of 25,067 million yen in accrued consumption tax.

   Non-current liabilities increased by 13,895 million yen from the end of the previous fiscal year, to 106,742 million yen. Net assets increased by 150,040 million yen from the end of the previous fiscal year, to 2,005,249 million yen. This was largely due to an increase of 360,164 million yen resulting from recording net income attributable to owners of parent, a decrease resulting from the payment of 271,618 million yen in year-end dividends for the previous fiscal year and interim dividends for the current fiscal year, an increase of 29,073 million yen in net unrealized gains on available-for-sale securities, and an increase of 25,548 million yen in foreign currency translation adjustments. As a result, the equity ratio was 75.3%.

3. Overview of Cash Flows

   Cash and cash equivalents at the end of the third quarter of the current fiscal year decreased by 67,866 million yen compared to the end of the previous fiscal year, to 417,205 million yen. The combined balance including 1,272 million yen in time deposits and short-term investments with maturities of more than three months that are not included in cash and cash equivalents was 418,478 million yen, a decrease of 77,760 million yen from the end of the previous fiscal year. The overall situation regarding cash flows during the first three quarters of the current fiscal year was as described below.

   Cash flows from operating activities were positive 333,964 million yen, an increase of 16,597 million yen compared to the same period of the previous fiscal year. The major positive factors were 466,308 million yen in income before income taxes, a decrease of 93,618 million yen in notes and accounts receivable - trade and contract assets, and 57,431 million yen in depreciation and amortization. The major negative factor was 175,328 million yen in payment of income taxes.

   Cash flows from investing activities were negative 129,732 million yen compared to negative 130,674 million yen in the same period of the previous fiscal year. This was largely due to the payment of 168,313 million yen for the purchase of property, plant and equipment.

   Cash flows from financing activities were negative 274,463 million yen compared to negative 365,276 million yen in the same period of the previous fiscal year. This was largely due to the payment of 271,618 million yen in dividends.

   
   
   
4. Description of Financial Estimates Information such as Consolidated Financial Forecasts
   1. Consolidated Financial Forecast Revision

      Against the backdrop of the transition to a data-driven society accompanied by the advancement of information and communication technology, the evolution of AI to enhance productivity and create new value, and efforts towards a decarbonized society, the role of semiconductors and their technological innovation are becoming increasingly important. Consequently, the semiconductor production equipment market is expected to grow even further in the medium- to long-term.

      Based on the most recent trends in capital investments by our customers, we would like to revise the consolidated financial forecasts for the fiscal year ending March 31, 2026, which were announced on October 31, 2025, as follows. Additionally, this forecast incorporates the gain on sales of investment securities.

      Consolidated Financial Forecasts for the Fiscal Year Ending March 31, 2026 (April 1, 2025 - March 31, 2026)

      	Net Sales (Millions of Yen)	Operating Income (Millions of Yen)	Ordinary Income (Millions of Yen)	Net Income Attributable to Owners of Parent (Millions of Yen)	Net Income per Share (Yen)
      Previous Forecast (A)	2,380,000	586,000	594,000	488,000	1,064.77
      Revised Forecast (B)	2,410,000	593,000	601,000	550,000	1,200.05
      Change (B-A)	30,000	7,000	7,000	62,000	-
      Change Ratio (%)	1.3	1.2	1.2	12.7	-
      Results for the Year Ended March 31, 2025	2,431,568	697,319	707,727	544,133	1,182.40

   2. Dividends Forecast Revision

Our dividend policy is to link dividend payments to business performance on an ongoing basis. Our basic policy for returning profits to shareholders is to maintain a payout ratio of around 50% based on consolidated net income attributable to owners of parent. Due to the revision of our consolidated financial forecasts mentioned earlier, we would like to revise the annual dividends forecast from 533 yen per share as announced on October 31, 2025, to 601 yen per share (Interim dividends : 264 yen, Year-end dividends : 337 yen).

Note: The financial forecasts and estimates stated in this Summary of Consolidated Financial Results are based on certain assumptions judged to be reasonable by the Company in light of information currently available concerning economic conditions in Japan and overseas, fluctuations in foreign exchange rates, and other factors that may have an impact on performance. The Company does not promise that the forecasts or estimates will be accurate.

They are therefore susceptible to the impact of many uncertainties, including market conditions, competition, the launching of new products (and their success or failure), and global conditions in the semiconductor related industry. Consequently, actual sales and profits may differ substantially from the projections described in this Summary of Consolidated Financial Results.

(Millions of yen)

As of As of

March 31, 2025 December 31, 2025

(Millions of yen)

As of As of

March 31, 2025 December 31, 2025

(Millions of yen)

Nine months ended Nine months ended December 31, 2024 December 31, 2025

Net unrealized gains (losses) on available-for-sale securities (8,557) 29,068

Foreign currency translation adjustments 6,096 25,444

Remeasurements of defined benefit plans (2,727) (3,014)

Going concern: None

Significant changes in Shareholders' Equity: None

Significant changes in the scope of consolidation during the period: None

Adoption of special accounting methods for preparation of quarterly financial statements: Yes

The Company and part of its consolidated subsidiaries calculate tax expenses by reasonably estimating the annual effective tax rate on income before income taxes after the application of tax effect accounting for the fiscal year, and applying this rate to income before income taxes for the current quarter under review.

Changes in accounting policies, changes in accounting estimates and restatements: None

Quarterly consolidated statements of cash flows

Quarterly consolidated statements of cash flows are not prepared for the nine months ended December 31, 2025. "Depreciation and amortization" (including amortization of intangible assets other than goodwill) and "Amortization of goodwill" for the nine months ended December 31, 2024 and 2025 are as follows:

(Millions of yen)

Segment information

This section has been omitted since TEL Group has a single segment of semiconductor production equipment.

Significant subsequent event

Share repurchase

At the Board of Directors meeting held on February 6, 2026, the Company resolved to acquire its own shares under the provisions of its Articles of Incorporation pursuant to paragraph 1, Article 459 of the Companies Act, as follows.

1. Reason for acquisition of own shares

   The Company intends to acquire its own shares in accordance with its capital policy while taking into account its current cash position and growth investment capital for medium- to long-term revenue growth.

2. Details of acquisition

1. Type of shares to be acquired: Shares of common stock

2. Total number of shares to be acquired: Up to 7.5 million shares

   (Equivalent to 1.6% of outstanding shares excluding treasury stock)

3. Total cost of acquisition: Up to 150 billion yen

4. Period of acquisition: From February 9, 2026 to March 31, 2026

5. Method of acquisition: Acquisition through market transactions on the Tokyo Stock Exchange