Financial Review

Consolidated Financial Results of FY2025 Q1 (April 1, 2025 through June 30, 2025)

July 29, 2025
(in billion yen)

During Advantest's three-month period ended June 30, 2025, the global economy as a whole held firmly, despite growing concerns about a slowdown amid geopolitical risks and increasing uncertainty surrounding trade policies.

Under such global economic conditions, the semiconductor industry's growth continued to be driven by demand for AI-related semiconductors, such as HPC (High Performance Computing) devices for data centers and high-performance DRAM, following the trend from the previous fiscal year. On the other hand, demand for semiconductors for applications such as those for automotive and industrial equipment remained soft.

In Advantest's business, demand for testers for AI-related high-performance semiconductors grew significantly. Continuing from the previous fiscal year, amid growing customer demand for product deliveries, Advantest worked to expand the procurement of parts and product supply capabilities in order to meet delivery timelines to the greatest extent possible and successfully carried out timely product deliveries.

As a result of the above, net sales were (Y) 263.8 billion (90.1% increase in comparison to the corresponding period of the previous fiscal year), operating income was (Y) 124.0 billion (295.7% increase in comparison to the corresponding period of the previous fiscal year), income before income taxes was (Y) 121.4 billion (280.1% increase in comparison to the corresponding period of the previous fiscal year) and net income was (Y) 90.2 billion (277.7% increase in comparison to the corresponding period of the previous fiscal year). These key figures reached record highs on a quarterly basis 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 146 JPY (153 JPY in the corresponding period of the previous fiscal year), and 1 EUR to 162 JPY (165 JPY in the corresponding period of the previous fiscal year). The percentage of net sales to overseas customers was 98.6% (96.2% in the corresponding period of the previous fiscal year).

(in billion yen)

In this segment, while tester demands for mature semiconductors such as those used in the automotive and industrial equipment sectors remained soft, tester sales for high-performance SoC semiconductors increased significantly. This is due to the increasing complexity of semiconductors and performance enhancement of semiconductors driven by the increasing demand for AI-related semiconductors. With regards to memory testers, sales for high-performance DRAM, such as HBM (High Bandwidth Memory), remained strong. Our enhanced procurement of materials and product supply capabilities also supported such sales growth.

(in billion yen)

In this segment, demand for support services remained elevated as the installed base grew. In addition, sales of consumables such as test interface boards for high-performance SoC semiconductors increased. Segment income for the first quarter of the current consolidated fiscal period includes a gain of approximately (Y) 2.5 billion from the partial divestiture of a business.

Total assets at June 30, 2025 amounted to (Y) 889.9 billion, an increase of (Y) 35.7 billion compared to March 31, 2025, primarily due to increases of (Y) 10.9 billion in cash and cash equivalents, (Y) 14.9 billion in trade and other receivables and (Y) 7.0 billion in other financial assets. The amount of total liabilities was (Y) 315.7 billion, a decrease of (Y) 32.0 billion compared to March 31, 2025, primarily due to decreases of (Y) 28.5 billion in income taxes payable and (Y) 8.4 billion in trade and other payables. Total equity was (Y) 574.2 billion. Ratio of equity attributable to owners of the parent was 64.5%, an increase of 5.2 percentage point from March 31, 2025.