• Seasonally back-loaded revenue structure - Although the cumulative revenue run rate stands at 39.2% of the FY target, the company maintains its FY6/26 outlook, relying on its back-loaded business nature concentrated in Q4. Performance was anchored by the Optical segment, where robust demand in Japan, Europe, and Asia, combined with production efficiency gains, lifted segment margins from 23.7% to 34.2%. Concurrently, the Life Science & Equipment Development segment kept pace. Looking ahead, structural tailwinds from AI applications are providing highly visible mid-to-long-term traction for its semiconductor equipment pipeline, notably PCVM and PAP. Backed by a historically strong Q4, FY guidance remains intact.
