Financial Review

Consolidated Financial Results of FY2025 Q2 (Semi-Annual) (April 1, 2025 through September 30, 2025)

October 28, 2025
(in billion yen)

During Advantest’s six-month period ended September 30, 2025, the global economy as a whole held firmly, despite 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 AI-related semiconductors, such as HPC (High Performance Computing) devices and high-performance DRAM for data centers. 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. Amid growing requests from customers for product deliveries, Advantest worked to expand the procurement of parts and materials along with product supply capabilities in order to meet customer demand to the greatest extent possible and successfully carried out timely product deliveries.

As a result of the above, net sales were (Y) 526.7 billion (60.0% increase in comparison to the corresponding period of the previous fiscal year), operating income was (Y) 232.4 billion (145.0% increase in comparison to the corresponding period of the previous fiscal year), income before income taxes was (Y) 230.5 billion (148.8% increase in comparison to the corresponding period of the previous fiscal year) and net income was (Y) 169.8 billion (144.9% increase in comparison to the corresponding period of the previous fiscal year). These key figures reached record highs in a six-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 146 JPY (154 JPY in the corresponding period of the previous fiscal year), and 1 EUR to 166 JPY (167 JPY in the corresponding period of the previous fiscal year). The percentage of net sales booked outside of Japan was 98.3% (97.0% 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 high-performance DRAM, such as HBM (High Bandwidth Memory), remained strong. Advantest’s enhanced procurement of parts and materials along with product supply capabilities also supported this segment’s 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. Meanwhile, we recorded expenses to enhance our competitiveness over the mid-to-long-term. Segment income for six-month period ended September 30, 2025 includes a gain of approximately (Y) 2.5 billion resulting from the partial divestiture of a business.

Total assets at September 30, 2025 amounted to (Y) 971.5 billion, an increase of (Y) 117.3 billion compared to the fiscal year ended March 31, 2025. This was primarily attributable to increases of (Y) 50.6 billion in trade and other receivables, (Y) 35.7 billion in cash and cash equivalents, and (Y) 13.3 billion in other financial assets. The amount of total liabilities was (Y) 361.2 billion, an increase of (Y) 13.5 billion compared to the fiscal year ended March 31, 2025. This was primarily attributable to increases of (Y) 11.6 billion in other current liabilities, and (Y) 10.1 billion in trade and other payables offset by a decrease of (Y) 9.4 billion in income taxes payable. Total equity was (Y) 610.3 billion. Ratio of equity attributable to owners of the parent was 62.8%, an increase of 3.5 percentage point from March 31, 2025.