Financial Summary for the 3rd Quarter of Fiscal Year Ending March 2026

Overview of Operating Results

The consolidated results for the 3rd quarter (April to December) of fiscal year ending March 2026 showed net sales of 81.1 billion yen, flat year-over-year at 0%. Operating income rose 31% YoY to 8.4 billion yen, and net income increased 29% YoY to 6.3 billion yen. Order intake grew 6% YoY to 86.8 billion yen, while comprehensive income surged 57% YoY to 10.1 billion yen. By segment, the Communication Measurement business posted net sales of 48.2 billion yen (5% YoY decrease) and operating income of 6.5 billion yen (47% increase). The PQA business reported net sales of 22.2 billion yen (12% increase) and operating income of 2.1 billion yen (32% increase). The Environmental Measurement business had net sales of 5.6 billion yen (2% decrease), and operating income was approximately zero. Geographically, net sales consisted of 16% from Japan, 36% from other Asia, 29% from the Americas, and 19% from EMEA.

Business Segment Trends and Outlook

In the Communication Measurement segment, customer investments are gradually recovering from the impact of U.S. tariff policies, but capital expenditures remain cautious due to rising prices and increased labor costs. In the mobile sector, investment in 5G development markets is slowly recovering, and the 5G utilization market is showing strong performance in automotive applications. In the network infrastructure sector, construction of green data centers and AI-dedicated data centers is accelerating. The PQA business remains robust with strong domestic inbound demand. The Environmental Measurement business is seeing the impact of U.S. tariff policies on demand for EV and battery testing equipment. The full-year earnings forecast remains unchanged, with net sales projected at 123.0 billion yen (9% YoY increase), operating income at 15.0 billion yen (24% increase), and net income at 11.0 billion yen (19% increase).