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Earnings Forecast

April 27, 2026
(in billion yen)

Can be swiped horizontally
FY2024 FY2025 vs. FY2024
increase
(decrease)		 FY2026 Forecast
1Q 2Q 3Q 4Q Annual total vs. FY2025
increase
(decrease)
Net sales 779.7 263.8 262.9 273.8 328.1 1,128.6 348.9 44.7% 1,420.0 25.8%
Cost of sales -334.6 -92.2 -99.2 -104.1 -107.0 -402.5 -67.9 20.3% - -
Selling, general and administrative expenses -195.4 -50.5 -55.4 -56.2 -67.5 -229.6 -34.2 17.5% - -
Other income - expenses -21.5 2.9 0.1 0.1 -0.5 2.6 24.2 - - -
Operating income 228.2 124.0 108.4 113.6 153.1 499.1 271.0 118.8% 627.5 25.7%
Sales ratio 29.3% 47.0% 41.3% 41.5% 46.7% 44.2% 44.2%
Financial income - expenses -3.4 -2.6 0.7 0.2 19.3 17.6 21.0 - - -
Income before income taxes 224.8 121.4 109.1 113.8 172.4 516.7 291.9 129.9% 629.0 21.7%
Sales ratio 28.8% 46.0% 41.5% 41.6% 52.5% 45.8% 44.3%
Income taxes -63.6 -31.2 -29.5 -35.1 -45.5 -141.3 -77.8 122.3% - -
Net income 161.2 90.2 79.6 78.7 126.9 375.4 214.2 132.9% 465.5 24.0%
Sales ratio 20.7% 34.2% 30.3% 28.7% 38.7% 33.3% 32.8%

As we look ahead to the business environment surrounding Advantest, the semiconductor market is expected to continue its growth trajectory in CY2026, led by AI-related semiconductors, following on from the prior year. There are market projections which indicate that the semiconductor market could surpass USD 1 trillion. The semiconductor tester market is also expected to reach its largest scale, driven by factors such as the increasing complexity and production volumes of AI-related semiconductors.

Based on this outlook, our full-year consolidated earnings forecast for FY2026 calls for net sales of (Y) 1,420.0 billion, operating income of (Y) 627.5 billion, income before income taxes of (Y) 629.0 billion, and net income of (Y) 465.5 billion. This forecast is based on exchange rate assumptions of 1 USD to 150 JPY and 1 EUR to 170 JPY. While Advantest anticipates that the current situation in the Middle East will lead to increases in certain costs, including logistics expenses, the direct impact on our business and earnings is expected to be limited at this time.

However, given concerns of escalating tensions in the Middle East potentially leading to a slowdown in the global economy, Advantest perceives that the business environment surrounding the company remains unpredictable, due to the growing geopolitical risks among other factors. As high levels of demand continue, supply chain shortages may arise that could affect both our customers' products and our products. In light of this, Advantest remains focused on supply chain resilience.

Advantest will continue to closely 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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