For the cumulative Q3 of FY2026 May period, net sales were JPY 17,346 million, down 18.2% YoY, and operating loss was JPY 899 million, a decrease of JPY 1,629 million compared to the same period last 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Ltd.","jir_importance":"\u2605\u2605\u2605\u2605\u2606","jir_publication_date":"2026-03-23","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/03\/6905-20260323-03.pdf","jir_short_summary":"For the cumulative Q3 of FY2026 May period, net sales were JPY 17,346 million, down 18.2% YoY, and operating loss was JPY 899 million, a decrease of JPY 1,629 million compared to the same period last year.","jir_summary":"### Overview of Q3 Results\nFor the cumulative Q3 of FY2026 May period, net sales were JPY 17,346 million, a decline of 18.2% YoY. Domestically, demand for semiconductor manufacturing equipment remains strong, and recovery is underway particularly centered on FA-related sectors due to inventory digestion by customers. However, overseas uncertainty persists due to U.S. tariff policies and prolonged economic slowdown in China. Operating loss was JPY 899 million, unable to absorb fixed costs from the sales decline.\n\n### Order Volume and Product Trends\nOrders for GPU semiconductor manufacturing equipment for generative AI remained robust, and FA, medical, and telecom equipment sectors steadily progressed inventory adjustments. By product, the adjustment phase continued reflecting the previous years\u2019 order growth, but a recovery trend began from Q1 FY2025 onward. Among major industries, demand growth for semiconductor manufacturing equipment is prominent, driven by continued order increases anticipating higher semiconductor demand for generative AI.\n\n### Full-Year Earnings Forecast\nThe full-year net sales forecast is JPY 24,119 million, operating loss forecast is JPY 810 million, and net income forecast is JPY 30 million, unchanged from the earnings guidance revised and disclosed on December 19, 2025. Most orders are expected to translate into sales from Q4 onwards. Although there will be adjustments from early procurement by medical and telecom equipment manufacturers in Q4, sales are expected to remain solid due to customer inventory digestion and increased demand related to semiconductor manufacturing equipment.\n\n### Financial Position and Shareholder Returns\nTotal assets amount to JPY 59,611 million with an equity ratio of 91.7%. Inventories decreased by JPY 1,280 million due to inventory digestion. Regarding shareholder returns, the annual dividend for FY2026 May period is set at JPY 55 (interim dividend JPY 27, year-end dividend JPY 28), with no changes from the previously announced forecast.","jir_financial_highlights":"Net Sales: JPY 17,346 million (Down 18.2% YoY)\nOperating Income: Operating loss of JPY 899 million (Decrease of JPY 1,629 million YoY)\nNet Income: Net loss of JPY 240 million (Unknown)\nEquity Ratio: 91.7% (Down 1.4pt YoY)\nFull-Year Net Sales Forecast: JPY 24,119 million (Down JPY 2,930 million from previous year)\nFull-Year Operating Income Forecast: Operating loss of JPY 810 million (Decrease of JPY 1,440 million from previous year)\nAnnual Dividend: JPY 55 (No change)","jir_category":"","jir_hashtags":"#Cosel, #FinancialResultsPresentation, #JapaneseStocks","jir_key_figures":"Net Sales: JPY 17,346 million (Down 18.2% YoY)\nOperating Income: Operating loss of JPY 899 million (Decrease of JPY 1,629 million YoY)\nFull-Year Net Sales Forecast: JPY 24,119 million (Down JPY 2,930 million from previous year)\nFull-Year Operating Income Forecast: Operating loss of JPY 810 million (Decrease of JPY 1,440 million from previous year)\nEquity Ratio: 91.7% (Down 1.4pt YoY)\nAnnual Dividend: JPY 55 (No change)","jir_meta_title":"Cosel FY2026 Q3 Financial Results: Net Sales Decline 18.2% to JPY 17.3 Billion, Operating Loss Continues","jir_meta_description":"Cosel Co., Ltd. FY2026 Q3 Financial Results Presentation. Net sales were JPY 17,346 million, down 18.2% YoY, with operating loss of JPY 899 million. Full-year net sales forecast is JPY 24,119 million, with an annual dividend of JPY 55 planned.","jir_og_title":"Cosel FY2026 Q3 Financial Results: Sales Decline Amid Recovery in Orders","jir_og_description":"Cosel FY2026 May period Q3 results. Net sales decreased 18.2% YoY, operating income in deficit. 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