FANUC (6954): FY2025 Results Summary — New Record Sales as FA and Robot Segments Grow Across China and the Americas

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FANUC CORPORATION reported consolidated results for the fiscal year ended March 31, 2026 (FY2025), with net sales of ¥857.8 billion (+¥60.7 billion year on year), operating income of ¥183.8 billion (+¥24.9 billion), and net income of ¥166.5 billion (+¥19.0 billion). Net sales exceeded the previous all-time high recorded in FY2022, setting a new record. The company cited increased FA sales in China, steady growth in Robot sales in the Americas and China, and improved factory operation as the main drivers.

Consolidated Results (Full-Year Actual)

Operating income ratio was 21.4% (+1.5 pt year on year) and net income ratio was 19.4% (+0.9 pt). Results also exceeded the company’s previous forecast, with net sales +2.0%, operating income +6.3%, and net income +5.4% above the prior guidance. The average FX rate for FY2025 was ¥150.77/USD and ¥174.79/EUR. In the breakdown of the operating income change from FY2024 (¥158.8 billion) to FY2025 (¥183.8 billion), the change in revenue contributed +¥25.8 billion and the change in cost variance contributed +¥13.2 billion, while the effects of unrealized profit (-¥5.7 billion), the change in SG&A expenses (-¥6.3 billion), and other factors (-¥2.0 billion) were negative.

Item	FY2024 Actual	FY2025 Actual	Change from FY2024
Net sales	797.1 billion yen (100.0%)	857.8 billion yen (100.0%)	+7.6%
Cost of sales	502.2 billion yen (63.0%)	529.4 billion yen (61.7%)	+5.4%
Operating income	158.8 billion yen (19.9%)	183.8 billion yen (21.4%)	+15.7%
Ordinary income	196.7 billion yen (24.7%)	227.5 billion yen (26.5%)	+15.6%
Net income	147.6 billion yen (18.5%)	166.5 billion yen (19.4%)	+12.9%

Segment Results

By division, Robot net sales rose from ¥329.6 billion to ¥378.6 billion, driven by steady growth in the Americas and China, and accounted for 44.1% of FY2025 net sales. FA net sales increased from ¥194.8 billion to ¥208.5 billion (24.3% of net sales), supported by growth in China. Service net sales grew from ¥135.2 billion to ¥141.1 billion (16.5%), while Robomachine net sales declined from ¥137.6 billion to ¥129.6 billion (15.1%). By region, net sales in China increased from ¥186.6 billion to ¥228.4 billion and in the Americas from ¥214.3 billion to ¥232.2 billion; Europe grew from ¥142.7 billion to ¥152.4 billion and Japan from ¥109.2 billion to ¥110.8 billion, while sales in Asia (excluding China) declined from ¥135.1 billion to ¥124.2 billion.

Segment	FY2024 Net Sales	FY2025 Net Sales	FY2025 Composition Ratio
FA	194.8 billion yen	208.5 billion yen	24.3%
Robot	329.6 billion yen	378.6 billion yen	44.1%
Robomachine	137.6 billion yen	129.6 billion yen	15.1%
Service	135.2 billion yen	141.1 billion yen	16.5%
Total	797.1 billion yen	857.8 billion yen	100.0%

FY2026 Forecast

For FY2026, FANUC forecasts net sales of ¥909.6 billion (+6.0% year on year), operating income of ¥212.2 billion (+15.5%), ordinary income of ¥257.0 billion (+13.0%), and net income of ¥184.9 billion (+11.0%), with operating income ratio of 23.3% (+1.9 pt) and net income ratio of 20.3% (+0.9 pt). By half, 1H forecast is net sales of ¥444.2 billion and operating income of ¥100.4 billion, and 2H forecast is net sales of ¥465.4 billion and operating income of ¥111.8 billion. The forecast assumes FX rates of ¥150.00/USD and ¥170.00/EUR for the full year. With solid demand continuing across all product lines, the company expects both sales and income to increase, and projects net sales to surpass the FY2025 record and set a new all-time high.

Item	FY2025 Actual	FY2026 Full-Year Forecast	Change from Previous Year
Net sales	857.8 billion yen (100.0%)	909.6 billion yen (100.0%)	+6.0%
Cost of sales	529.4 billion yen (61.7%)	544.2 billion yen (59.8%)	+2.8%
Operating income	183.8 billion yen (21.4%)	212.2 billion yen (23.3%)	+15.5%
Ordinary income	227.5 billion yen (26.5%)	257.0 billion yen (28.3%)	+13.0%
Net income	166.5 billion yen (19.4%)	184.9 billion yen (20.3%)	+11.0%

Shareholder Returns

FANUC’s FY2025 annual dividend per share was ¥107.09, with a payout ratio of 60.0%, up from ¥94.39 per share (60.0% payout ratio) in FY2024. The payout ratio has been maintained at 60.0% in each of the past five fiscal years (FY2021–FY2025). Dividend-per-share figures are calculated on the assumption that the 1-for-5 stock split of common shares performed on April 1, 2023 had been made at the beginning of FY2021.

Item	FY2021	FY2022	FY2023	FY2024	FY2025
Dividend per share	97.14 JPY	107.13 JPY	84.14 JPY	94.39 JPY	107.09 JPY
Payout ratio	60.0%	60.0%	60.0%	60.0%	60.0%

Topics

FANUC participated in two major trade shows in early FY2026: TMTS 2026 in Taiwan (March 25–28, 2026; 407 exhibitors versus 631 in 2024; approximately 72,000 visitors), where it exhibited ROBODRILL and ROBOCUT with automation packages, and SIMTOS 2026 in Seoul (April 13–17, 2026; 1,315 exhibitors), where it showcased its open platform Physical AI, the CRX-3iA collaborative welding robot, and the 500i-A and αi-D servo, along with digital twin and AI-based manufacturing technologies.

On the facilities side, FANUC completed the Central Technical Center at its headquarters, renewing the guest area including a new office building for customer demonstrations and testing. FANUC India completed a new 5,000 m² service building in Bangalore in March 2026, supporting more than 320,000 cumulatively installed units through 23 service locations and 5 repair centers. FANUC America will invest $90 million (approximately ¥14.3 billion) to acquire land and build a new 840,000 sq. ft. (approx. 78,000 m²) facility in Michigan for production-ready robot manufacturing capacity, scheduled for completion in late 2027; including this investment, FANUC America’s cumulative investment in new U.S. facilities since 2019 will reach nearly $300 million, expanding its U.S. footprint to 3 million sq. ft. (approx. 279,000 m²) and creating more than 700 jobs.

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.