• A muted ending – FY6/25 results fell short of guidance, mainly due to production delays and changes in client project schedules. Reflecting uncertainties in the commercialization of cutting-edge products, the company lowered its targets for FY6/26 and FY6/27. Margins remain under pressure as ongoing investment in R&D and marketing is essential to sustaining its competitive edge. Nonetheless, JTEC continues to spearhead several global niche frontiers, and with a strong order book in high-precision mirrors and demand normalizing in Life Science and Equipment Development, we expect a robust rebound in FY6/26.
