Advantest First-Half Revenue Hits ¥845.2 Billion as Net Income Jumps 116.8%
Key Facts
Advantest recorded revenue of ¥845.2 billion and net income of ¥368.1 billion in the first half of its fiscal 2026, which ended Sept. 30, increases of 60.5% and 116.8% year over year, respectively, according to the company’s results. The figures cover six months, not the second quarter alone as stated in an earlier draft. Meanwhile, Hitachi revenue rose 15% in the first half to about ¥5.7 trillion, but net income attributable to its shareholders fell to ¥416.6 billion from ¥472.8 billion in the year-earlier period. The results show a contrast between Advantest’s strong growth tied to semiconductor-testing equipment and broader revenue growth across Hitachi’s businesses alongside a decline in shareholder income. Advantest said customers "continued to actively invest in test equipment" as demand related to artificial intelligence accelerated.
Advantest attributed strength in the semiconductor market to intensifying competition in artificial-intelligence technologies and their wider use. It said increased production of high-performance chips and their greater complexity prompted customers to raise investment in test equipment. These factors put the company’s equipment on a growth path alongside production of advanced chips, which must be tested during manufacturing. According to the company, customers continued investing in test equipment as that demand grew. The first-half results were not limited to higher revenue; net income rose faster, reaching ¥368.1 billion from ¥169.8 billion in the previous period, according to the results table.
Advantest raised its forecast for the fiscal year ending March 31, 2027, setting revenue at ¥1,863.0 billion, up from ¥1,714.0 billion in its previous forecast. It also raised its net income forecast to ¥741.5 billion from ¥660.0 billion. The revised outlook reflects a higher estimate for business volume and profitability during the fiscal year, following the first-half results. These figures remain the company’s forecasts for the full year, while revenue of ¥845.2 billion and net income of ¥368.1 billion cover the half-year ended Sept. 30. Advantest set January 2027 as the date for announcing its fiscal 2026 third-quarter results.
At Hitachi, total net income fell to ¥445.299 billion in the first half ended Sept. 30, 2026, from ¥493.558 billion in the same period a year earlier. This measure differs from net income attributable to the company’s shareholders, which was ¥416.6 billion compared with ¥472.8 billion. At the same time, adjusted operating profit rose to ¥643.260 billion from ¥508.043 billion. Profit before interest and taxes fell to ¥627.490 billion from ¥681.892 billion. The indicators show differing trajectories for profitability measures during the period, alongside growth in total revenue.
Hitachi said its energy, digital services, systems, industry and mobility segments posted year-over-year growth in revenue and profit. It added that foreign-exchange movements partly affected revenue growth. In AI-related demand, second-quarter orders for semiconductor manufacturing equipment, measurement and inspection equipment rose in the Connected Industries segment. Orders for high-voltage direct-current power transmission projects in Europe and data center orders also supported growth in the energy segment. In orders, the energy segment rose 66% to ¥3,472.5 billion, while the Connected Industries segment increased 26% to ¥1,945.8 billion in the first half.
Hitachi raised its fiscal 2026 revenue forecast by ¥300.0 billion to ¥12,000.0 billion, equivalent to expected year-over-year growth of 13%. It also increased its adjusted operating profit forecast by ¥40.0 billion to ¥1,560.0 billion and raised its forecast for net income attributable to shareholders to ¥920.0 billion. The revisions followed the announcement of first-half revenue growth, despite a decline in net income attributable to shareholders during the period. On the Tokyo Stock Exchange, Advantest closed at ¥33,860 on Oct. 27, up 8.98%, making it the biggest gainer among Nikkei 225 constituents that day. The U.S.-listed share under the ticker ATEYY closed at $224.52, and Hitachi’s U.S.-listed share under the ticker HTHIY closed at $36.02 on the same date, according to EL7 data.
Attention now turns to the Bank of Japan’s monetary policy meeting scheduled for Oct. 29 and 30, 2026. The bank is set to release its policy statement and October outlook on Oct. 30, then publish the full outlook text on Nov. 2. The bank says its current guidance is to keep the uncollateralized overnight call rate at around 1.25%; this is the existing guidance, not a forecast of the next meeting’s outcome. The meeting comes after the two companies announced revisions to their fiscal-year forecasts, while the bank’s calendar does not specify the decision’s outcome. Advantest is expected to announce its third-quarter results in January 2027.