ローム: Japan Summit 2026 Feedback

研报英文原文证据摘录

ローム: Japan Summit 2026 Feedback

UpdateM

図表1: Rohm: Earnings forecast

(yen billions) FY23 FY24 FY25 FY26 FY27

FY Ce e (old) e (new) e (old) e (new)

US$/Yen Rate 144 152 151 154 155 155 155 155

Net Sales 467.8 448.5 481.1 510.0 508.4 512.0 532.7 533.1

Constant Currency growth -12% -7% 8% 5% 4% 5% 5% 4%

LSI 207.2 203.8 218.4 235.0 238.8 233.7 248.4 243.0

Discretes 201.9 187.1 205.3 222.4 216.5 223.8 231.6 239.4

Discretes excluding SiC 162.9 150.6 163.4 168.4 166.8 170.8 171.9 175.9

SiC business 39.0 36.5 41.8 54.0 49.7 53.0 59.6 63.5

Module 32.9 32.6 31.6 29.7 29.1 29.7 27.3 28.8

Others 25.7 25.0 25.9 22.9 24.0 24.9 25.5 21.9

GrossProfit 145.7 74.3 115.2 135.5 140.6 150.9 161.1

Gross margin 31.1% 16.6% 23.9% 26.7% 27.5% 28.3% 30.2%

SG&A and R&D 102.4 114.3 104.4 101.5 108.2 104.4 110.3

% of sales 21.9% 25.5% 21.7% 20.0% 21.1% 19.6% 20.7%

Operating Profit 43.3 -40.1 10.9 30.0 34.0 32.4 46.4 50.8

LSI 21.3 -0.8 24.5 36.3 18.7 40.9 31.6

Discretes 13.0 -45.9 -22.7 -11.5 5.7 -2.7 11.4

Module 2.0 2.7 3.5 4.9 5.0 3.7 3.9

Others 2.2 2.5 4.1 4.3 3.0 4.5 4.0

Corp & Eliminations 4.9 1.4 1.4 0.0 0.0 0.0 0.0

Net Income 54.0 -50.1 -158.4 29.0 26.1 26.4 35.8 38.4

EPS (Yen) 138.8 -129.8 -410.5 75.1 67.8 68.5 92.9 99.4

Diluted EPS (yen) 134.4 -129.8 -410.5 57.7 58.4 79.1 84.8

BPS (yen) 2,506.8 2,303.3 1,963.4 2,305.1 1,982.0 2,348.0 2,031.4

DPS (yen) 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0

ROE -5% -5% -19% 3% 3% 4% 5%

YoY % Change

Net Sales -8% -4% 7% 6% 6% 6% 5% 4%

Gross Profit -25% -49% 55% - 24% 22% 11% 15%

Operating Profit -53% -192% -127% 176% 352% 198% 36% 57%

EPS -33% -193% 216% - 145% -117% 37% 45%

Capex 186.8 133.0 82.4 60.0 58.5 60.0 40.0 55.0

Depreciation 72.1 83.4 57.0 41.3 54.0 38.5 50.0 41.5

R&D 44.4 57.2 46.6 47.8 46.0 47.8 47.0 50.1