Chiyoda Integre (6915): FY2025 Results Summary — Lower Sales and Profits; Dividend of 160 Yen Maintained

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Note: Chiyoda Integre does not publish an English results presentation; this article is an English translation of the Japanese-language article on our sister site Investalk, which is based on the company’s Japanese-language IR materials, with figures transcribed as reported. On this site, the company’s most recent completed fiscal year, the fiscal year ended December 2025 (labeled FY12/2025 below), is classified as FY2025.

Chiyoda Integre announced its full-year results for FY12/2025 (January–December 2025) on February 26, 2026. Affected by U.S.–China trade friction, the strengthening of U.S. tariff policy, and the slowdown of the Chinese economy, net sales were 38,042 million yen (down 7.7% year on year), operating profit was 2,972 million yen (down 22.9%), ordinary profit was 3,279 million yen (down 29.6%), and profit attributable to owners of parent was 2,624 million yen (down 18.9%), marking lower sales and profits. All of these figures exceeded the forecast announced on November 13, 2025 (net sales of 38,000 million yen, operating profit of 2,900 million yen, ordinary profit of 3,100 million yen, and net profit of 2,400 million yen).

Consolidated Results (FY12/2025 Actual)

Net sales decreased by 3,170 million yen year on year. Although foreign exchange had a positive impact of 130 million yen, declines by product category weighed on results — OA equipment down 1,130 million yen, AE equipment down 450 million yen, AV equipment down 1,180 million yen, and communications equipment down 620 million yen — and even including an increase of 80 million yen from game consoles and others, the net change by product category was a decrease of 3,300 million yen. Operating profit declined 880 million yen year on year: despite a positive currency impact of 50 million yen, gross profit deteriorated by 850 million yen and the increase in selling, general and administrative expenses had a negative impact of 80 million yen. Profit attributable to owners of parent declined 610 million yen year on year: profit before taxes deteriorated by 1,080 million yen (including foreign exchange losses of 20 million yen), while income taxes decreased by 470 million yen.

Item	FY12/2024	FY12/2025	Change	% Change
Net sales	41,214 million yen	38,042 million yen	△3,172 million yen	△7.7%
Gross profit	11,278 million yen	10,478 million yen	△800 million yen	△7.1%
Operating profit	3,856 million yen	2,972 million yen	△884 million yen	△22.9%
Ordinary profit	4,655 million yen	3,279 million yen	△1,376 million yen	△29.6%
Profit attributable to owners of parent	3,234 million yen	2,624 million yen	△610 million yen	△18.9%
Exchange rate (yen/US$)	151.69 yen	149.61 yen	–	–

Segment (Regional) Results

By region, Japan recorded external customer sales of 9,711 million yen (down 3.8% year on year) and operating profit of 139 million yen (down 79.0%; operating margin 1.4%): sales for AV equipment remained firm, while AE and OA equipment fell short of expectations. Southeast Asia posted external customer sales of 13,748 million yen (down 7.5%) and operating profit of 1,614 million yen (down 8.8%; operating margin 11.7%), with major product categories declining due to customers’ production adjustments and output cuts. China recorded external customer sales of 9,401 million yen (down 16.9%) and operating profit of 930 million yen (down 30.6%; operating margin 9.9%), as sales for OA and AV equipment fell amid a sluggish market. North America saw external customer sales of 4,287 million yen (up 3.3%) and operating profit of 293 million yen (up 111.2%; operating margin 6.8%): although AE equipment was weak due to tariff policy, strong sales for building materials drove the increase.

Region	Metric	FY12/2025	FY12/2024
Japan (p.7)	External customer sales	9,711 million yen	10,096 million yen
Japan (p.7)	Operating profit	139 million yen	665 million yen
Southeast Asia (p.8)	External customer sales	13,748 million yen	14,860 million yen
Southeast Asia (p.8)	Operating profit	1,614 million yen	1,770 million yen
China (p.9)	External customer sales	9,401 million yen	11,307 million yen
China (p.9)	Operating profit	930 million yen	1,341 million yen
North America (p.10)	External customer sales	4,287 million yen	4,152 million yen
North America (p.10)	Operating profit	293 million yen	138 million yen

Impact of U.S. Tariff Policy and Area Topics

Against the backdrop of strengthened U.S. tariff policy, the degree of impact differed by region. There was no significant direct impact on Japan. In Southeast Asia, orders for OA and AV equipment declined as exports to the United States fell. In China, the tariff burden was heavy, and in AE equipment a shift of production to the United States progressed. In Europe and the Americas, there was an increased tariff burden associated with exports to the United States and the impact of reduced production in Mexico (OEM). As area topics for FY12/2026, in Japan the company expects an expanded production framework through capital investment for AE equipment and steady momentum in batteries and ADAS (sensor-related components). In North America it plans to raise its presence in the U.S. market by utilizing the Ohio plant; in China it will develop infrastructure such as obtaining certifications to expand in the medical field; in Southeast Asia it will accelerate production shifts and cultivate foreign-capital customers; and in Europe it will strengthen sales activities at its German subsidiary.

Full-Year Forecast

For FY12/2026, the company forecasts consolidated net sales of 40,000 million yen, operating profit of 3,000 million yen (7.5% of net sales), ordinary profit of 3,100 million yen (7.8%), and profit attributable to owners of parent of 2,600 million yen (6.5%), with an assumed exchange rate of 150.00 yen to the U.S. dollar. Capital expenditures are planned at a total of 1,600 million yen (800 million yen in Japan and 800 million yen overseas), with depreciation of 1,650 million yen.

Item	FY12/2025 (Actual)	FY12/2026 (Forecast)
Net sales	38,042 million yen	40,000 million yen
Operating profit (% of net sales)	2,972 million yen (7.8%)	3,000 million yen (7.5%)
Ordinary profit (% of net sales)	3,279 million yen (8.6%)	3,100 million yen (7.8%)
Profit attributable to owners of parent (% of net sales)	2,624 million yen (6.9%)	2,600 million yen (6.5%)
Exchange rate (yen/US$)	149.61 yen	150.00 yen

Shareholder Returns

The dividend for FY12/2025 is 160 yen (to be resolved at the general meeting of shareholders scheduled to be held in March 2026). The company conducted share buybacks in multiple tranches from May 13 to September 11, 2025, acquiring a cumulative 933,400 shares for 2,774 million yen. It also cancelled 2,000,000 treasury shares (5,686 million yen) on November 28, following a resolution on October 16, 2025. In addition, two cross-shareholdings were sold. For FY12/2025, the payout ratio was 58.7%, the total return ratio including share buybacks was 161.3%, ROE was 6.4%, DOE was 3.7%, and PBR was 0.73x.

Item	FY12/2020	FY12/2021	FY12/2022	FY12/2023	FY12/2024	FY12/2025 (Forecast)
Year-end dividend (yen)	70	120	120	116	160	160
Total dividends (100 million yen)	8.68	14.64	13.68	12.35	16.08	14.59
Payout ratio (%)	98.4	61.8	52.2	50.3	51.5	58.7
Share buybacks (100 million yen)	0	4.41	18.02	18.21	19.41	27.74
Total return ratio (%)	98.4	79.4	111.9	124.3	109.8	161.3
ROE (%)	2.6	6.9	7.4	6.7	8.0	6.4
DOE (%)	2.6	4.3	3.8	3.3	4.1	3.7
PBR (x)	0.62	0.75	0.58	0.77	0.79	0.73

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.