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Earnings Forecast

January 28, 2026
(in billion yen)

Can be swiped horizontally
FY2024 FY2025 FY2025 Forecast
1Q 2Q 3Q vs. FY2025 2Q
increase-
decrease		 FY2025 9 months total vs. FY2024 9 months total
increase-
decrease		 Annual total vs. FY2024
increase-
decrease
Net sales 779.7 263.8 262.9 273.8 4.1% 800.5 46.3% 1,070.0 37.2%
Cost of sales -334.6 -92.2 -99.2 -104.1 4.8% -295.5 22.4% - -
Selling, general and administrative expenses -195.4 -50.5 -55.4 -56.2 1.5% -162.1 14.4% - -
Other income - expenses -21.5 2.9 0.1 0.1 -69.9% 3.1 - - -
Operating income 228.2 124.0 108.4 113.6 4.7% 346.0 110.8% 454.0 99.0%
Sales ratio 29.3% 47.0% 41.3% 41.5% 43.2% 42.4%
Financial income - expenses -3.4 -2.6 0.7 0.2 -61.4% -1.7 - - -
Income before income taxes 224.8 121.4 109.1 113.8 4.3% 344.3 111.0% 452.5 101.3%
Sales ratio 28.8% 46.0% 41.5% 41.6% 43.0% 42.3%
Income taxes -63.6 -31.2 -29.5 -35.1 18.9% -95.8 128.2% - -
Net income 161.2 90.2 79.6 78.7 -1.2% 248.5 105.0% 328.5 103.8%
Sales ratio 20.7% 34.2% 30.3% 28.7% 31.0% 30.7%

Looking at Advantest's business environment going forward, in CY2026, the semiconductor industry growth is likely to continue to be driven by AI-related semiconductors, as in the previous year. In the semiconductor tester industry, high tester demand is expected to continue, driven by factors such as the increasing complexity and enhanced performance, as well as expansion of the supply chain and production volume growth of AI-related semiconductors.

As of October 2025, Advantest anticipated a demand correction phase during the second half of the current consolidated fiscal year. However, with third quarter results exceeding expectations, Advantest anticipates that the favorable business environment will continue into the fourth quarter. Considering the status of Advantest's product supply capabilities, Advantest expects to achieve sales for the second half of the year at a level comparable to the first half. Based on this outlook and the progress made in the nine-month period ended December 31, 2025, Advantest has revised its full-year's consolidated earnings forecast for the current fiscal year from the forecast as of October 2025 as follows. Sales forecast is revised up to (Y)1,070.0 billion from (Y) 950.0 billion, operating income is revised up to (Y) 454.0 billion from (Y) 374.0 billion, income before income taxes is revised up to (Y) 452.5 billion from (Y) 371.5 billion and net income is revised up to (Y) 328.5 billion from (Y) 275.0 billion, respectively. This earnings forecast is based on exchange rate assumptions of 1 USD to 140 JPY and 1 EUR to 155 JPY for the fourth quarter of the current consolidated fiscal year.

At this time, Advantest does not anticipate that tariffs will have a major impact on its business or financial results. However, Advantest perceives that the business environment surrounding the company remains unpredictable, due to factors such as geopolitical risks and sharp exchange rate fluctuations.

Advantest will continue to constantly monitor changes in the external environment and respond expeditiously and with agility. At the same time, Advantest will strive to expand the value it provides to stakeholders over the mid/long-term by pursuing the measures set out in the Third Mid-term Management Plan.

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