Financial Review

Consolidated Financial Results of FY2025 Q3 (April 1, 2025 through December 31, 2025)

January 28, 2026
(in billion yen)

During Advantest’s nine-month period ended December 31, 2025, the global economy as a whole trended firmly.

Under such global economic conditions, the semiconductor industry’s growth continued to be driven by AI-related semiconductors, such as HPC (High Performance Computing) devices and high-performance DRAM for data centers. In addition, demand for semiconductors for consumer electronics products, particularly smartphones, trended firmly, while early indications of a bottoming out emerged in the automotive and industrial equipment sectors from mid-year.

In Advantest’s business, demand for testers for AI-related high-performance semiconductors grew significantly. Advantest has worked to expand product supply capabilities in order to meet customers’ strong capital investment appetite to the greatest extent possible and successfully carried out timely product deliveries.

As a result of the above, net sales were (Y) 800.5 billion (46.3% increase in comparison to the corresponding period of the previous fiscal year), operating income was (Y) 346.0 billion (110.8% increase in comparison to the corresponding period of the previous fiscal year), income before income taxes was (Y) 344.3 billion (111.0% increase in comparison to the corresponding period of the previous fiscal year) and net income was (Y) 248.5 billion (105.0% increase in comparison to the corresponding period of the previous fiscal year). These key figures reached record highs in this nine-month period due to factors such as greater sales mix of high-margin products, in addition to the overall increase in sales. Average currency exchange rates in the current period were 1 USD to 148 JPY (152 JPY in the corresponding period of the previous fiscal year), and 1 EUR to 169 JPY (165 JPY in the corresponding period of the previous fiscal year). The percentage of net sales booked outside of Japan was 97.8% (97.6% in the corresponding period of the previous fiscal year).

(in billion yen)

In this segment, sales of SoC Test Systems for high-performance SoC semiconductors increased significantly. This reflects the rising tester demand driven by the growing complexity and enhanced performance of semiconductors, in response to the increasing demand for HPC devices and AI-related semiconductors. On the other hand, tester demand for mature semiconductors such as those used in the automotive and industrial equipment sectors remained soft. With regards to Memory Test Systems, sales for devices such as high-performance DRAM remained strong.

Ongoing enhancements to supply capabilities also supported this segment’s sales growth amid such a high level of demand.

(in billion yen)

In this segment, support services sales increased as the installed base grew. Segment income for nine-month period ended December 31, 2025 includes a gain of approximately (Y) 2.5 billion resulting from the partial divestiture of a business.

Total assets at December 31, 2025 amounted to (Y) 1,020.5 billion, an increase of (Y) 166.3 billion compared to the fiscal year ended March 31, 2025. This was primarily attributable to increases of (Y) 66.8 billion in cash and cash equivalents, (Y) 31.0 billion in other financial assets, (Y) 30.3 billion in trade and other receivables, (Y) 17.1 billion in property, plant and equipment and (Y) 12.8 billion in inventories. The amount of total liabilities was (Y) 346.2 billion, a decrease of (Y) 1.5 billion compared to the fiscal year ended March 31, 2025. This was primarily attributable to a decrease of (Y) 13.2 billion in income taxes payable offset by increases of (Y) 5.9 billion in other financial liabilities, (Y) 3.7 billion in other current liabilities, and (Y) 2.2 billion in provisions. Total equity was (Y) 674.3 billion. Ratio of equity attributable to owners of the parent was 66.1%, an increase of 6.8 percentage point from March 31, 2025.