Ferrotec Holdings ＜6890＞ announced consolidated financial results for the fiscal year ending 2024/3 on the 15th. Net sales increased 5.5% from the previous fiscal year to 222.43 billion yen, operating profit decreased 29.0% to 24.872 billion yen, ordinary profit decreased 37.5% to 26.537 billion yen, and net income attributable to parent company shareholders decreased 49.0% to 15.154 billion yen.
Sales in the semiconductor equipment related business decreased 1.6% from the previous fiscal year to 130.72 billion yen, and operating profit decreased 32.5% from the same period to 16.260 billion yen. Sales of vacuum seals, metal processing products for various manufacturing devices, material products (quartz products, silicon parts, etc.) and parts cleaning services used in semiconductor manufacturing processes declined due to the effects of inventory adjustments for material products, etc., in addition to stagnation in semiconductor capital investment demand and a decline in equipment utilization rates, etc., but demand from local Chinese equipment manufacturers was taken in, and sales declines from Western manufacturers were covered. As for quartz crucibles, sales of large crucible products for solar panel manufacturers increased drastically. Also, among material products, there was an increase in production capacity for CVD-SiC products, which lack supply capacity in response to demand, and sales continued to increase.
Sales in the electronic device business increased 27.5% from the previous fiscal year to 67.60 billion yen, and operating profit decreased 2.6% to 10.890 billion yen. Thermo modules have drastically decreased in PCR testing equipment applications, but the increase in the communication field, particularly for high-capacity optical transceivers that are attracting attention in relation to generative AI, covered the decline, and overall sales increased. As for power semiconductor substrates, sales of DCB substrates increased for industrial machinery, etc., and AMB boards also remained steady for Chinese EV vehicles, and overall sales increased significantly. Also, since sensors were consolidated at Oizumi Seisakusho from the previous 2nd quarter consolidated accounting period, sales etc. have increased compared to the period that were not consolidated compared to the period compared to the previous quarter.
Other sales were 24.757 billion yen, down 3.3% from the previous fiscal year, and operating losses were 1,197 billion yen (profit of 597 million yen for the same period last year). Shipments of machine tools declined compared to the same period last year. Also, Sawblade includes sales and profits of Toyo Cutlery consolidated from the previous 2nd quarter consolidated accounting period from the previous 3rd quarter consolidated accounting period.
Regarding the consolidated earnings forecast for the full year ending 2025/3, we expect sales to increase 5.7% from the previous fiscal year to 235.00 billion yen, operating profit up 4.5% to 26.00 billion yen, ordinary profit down 2.0% to 26.00 billion yen, and net income attributable to parent company shareholders to increase 5.6% to 16.00 billion yen.