Lasertec Corporation (TSE: 6920), the Yokohama-headquartered specialist semiconductor inspection equipment maker — and the de-facto sole supplier of actinic EUV photomask inspection tools to the world's leading-edge logic and memory foundries — reported cumulative Q3 (9-month, July 2025 to March 2026) FY6/2026 consolidated J-GAAP results showing surprisingly resilient profits despite a guided full-year contraction. Revenue rose 0.4% year-on-year to ¥169,539 million, operating profit eased 1.4% to ¥78,191 million, ordinary profit advanced 6.7% to ¥80,449 million, and net profit attributable to shareholders rose 7.8% to ¥56,823 million. Basic EPS came in at ¥632.49 versus ¥584.27.
Comprehensive income surged 16.3% to ¥58,701 million. The operating margin held at 46.1%, reflecting the persistent pricing power of the company's mask-inspection platforms. Total assets stood at ¥310,812 million (down from ¥329,601 million at the start of the period as the company executed treasury-stock retirements), with net assets at ¥225,489 million and an equity ratio that strengthened to 72.5% from 63.7%.
Strategic positioning: actinic EUV inspection franchise
Lasertec's continuing earnings resilience reflects its near-monopoly position in actinic photomask inspection — the only commercial technology capable of detecting print-relevant defects on EUV blanks and patterned masks using 13.5-nm wavelength light. As leading-edge logic continues its march toward 2-nm and below and HBM/DRAM ramps capacity, customer reliance on Lasertec's flagship ACTIS A300 and successor platforms has held steady even as broader semiconductor capex digests the post-2024 normalization.
Full-year FY6/2026 guidance unchanged
Management left the full-year FY6/2026 forecast unchanged, signaling that the company's earlier guidance — issued at the time of FY6/2025 results — remains intact. The full-year outlook is for revenue of ¥220,000 million (-12.5% YoY), operating profit of ¥100,000 million (-18.6%), ordinary profit of ¥100,000 million (-16.3%) and net profit attributable to shareholders of ¥72,000 million (-14.9%), with basic EPS guided to ¥801.89. The decline reflects the front-loaded shipment pattern in FY6/2025 (when EUV customers accelerated tool deliveries) rather than a structural demand reset.
Dividend
The FY6/2026 dividend forecast was also held at ¥329.00 per share (¥132 interim + ¥197 year-end), unchanged from the prior year's actual ¥329.00. As Lasertec follows a "earnings-linked" dividend policy aimed at distributing roughly 40% of net profit, the headline level is sustained even on the lower guided FY6/2026 earnings, with the payout effectively normalising once shipment volatility passes.
| Metric | 9M FY6/2026 | 9M FY6/2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 169,539 | 168,835 | +0.4% |
| Operating profit (¥ million) | 78,191 | 79,291 | −1.4% |
| Ordinary profit (¥ million) | 80,449 | 75,394 | +6.7% |
| Net profit (¥ million) | 56,823 | 52,694 | +7.8% |
| Basic EPS (¥) | 632.49 | 584.27 | +8.3% |
| Operating margin | 46.1% | 47.0% | −0.9pp |
| Total assets (¥ million) | 310,812 | 329,601 | −5.7% |
| Equity ratio | 72.5% | 63.7% | +8.8pp |
| FY6/26 div. forecast (¥) | 329.00 | 329.00 | ±0.0% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.