Hamamatsu Photonics reports sales growth but profit declines

Hamamatsu Photonics Kk (TSE:6965) announced consolidated financial results for the six months ended March 31, 2025, revealing a mixed financial performance. Net sales increased by 2.7% year-over-year to JPY 106,745 million, while operating profit declined by 46.3% to JPY 10,777 million. Ordinary profit also decreased by 43.7% to JPY 12,127 million, and profit attributable to owners of parent fell by 40.8% to JPY 9,935 million. Earnings per share were JPY 32.95 compared to JPY 54.15 in the previous period. The company attributes the profit declines to economic uncertainties, increased tariffs, and political instability affecting key markets. Hamamatsu Photonics is also strategically realigning its business segments, with the Laser segment now reported separately due to its growing importance following the acquisition of NKT Photonics A/S. In related news, the company repurchased 11,038,100 shares of treasury stock during the six-month period and announced the cancellation of these shares effective April 30, 2025, to mitigate concerns about share dilution. While the forecast for the fiscal year ending September 30, 2025 anticipates net sales of JPY 218,900 million, the company remains cautious about future projections due to ongoing economic uncertainties and the impact of U.S. tariffs.