HIOKI E.E.CORPORATION is booking orders faster than it can ship them. In the nine months to 30 September 2026, consolidated orders rose 40.0% to ¥41.66bn, while sales grew 22.8% to ¥35.87bn, according to its third-quarter earnings summary. The company says tight component supplies have pushed the recording of sales on some orders already received into the next quarter or later, so sales growth has not kept pace with orders.
Profit outran sales
Operating profit rose 51.0% to ¥7.19bn, ordinary profit rose 51.9% to ¥7.39bn and net profit attributable to owners of the parent rose 63.6% to ¥5.83bn. These are cumulative nine-month figures against the same period a year earlier. HIOKI says the jump in sales absorbed higher cost of sales from rising component prices. It also says the weaker yen added to sales through currency translation.
Test equipment shows the gap
The widest gap is in automatic test equipment, used to inspect electronic boards. Orders rose 124.4% to ¥5.14bn, but sales rose 28.2% to ¥3.07bn. HIOKI says its fixtureless flying-probe method suits demand from AI data centres for large, dense, multilayer boards, and that orders for advanced-board equipment rose sharply.
The company adds that this is a long-lead-time product line, and that component delays have compounded the effect. Most orders taken in the third quarter are expected to be delivered in the next fiscal year or later. Electronic measuring instruments, the largest line, showed a narrower gap: orders rose 47.6% to ¥22.11bn and sales rose 29.8% to ¥18.95bn.
| Product line | Orders | Orders growth | Sales | Sales growth |
|---|---|---|---|---|
| Automatic test equipment | ¥5.14bn | 124.4% | ¥3.07bn | 28.2% |
| Electronic measuring instruments | ¥22.11bn | 47.6% | ¥18.95bn | 29.8% |
| Total | ¥41.66bn | 40.0% | ¥35.87bn | 22.8% |
By customer location, China was the main source of growth. Orders there rose 57.5% to ¥13.19bn and sales rose 28.6% to ¥10.37bn. Taiwan orders rose 219.9% to ¥2.91bn. Overseas sales were ¥23.57bn, or 65.7% of the total.
Guidance left alone
HIOKI kept the full-year forecast it published on 5 June: sales of ¥47.7bn (up 17.7%), operating profit of ¥9.5bn (up 39.9%) and net profit of ¥7.54bn (up 38.2%). It cites persistent global tightness in power semiconductors, printed circuit boards and other electronic components, longer lead times and shipment delays. It also flags the dollar-yen rate, which has swung both ways since June. The forecast keeps the June exchange-rate assumption, and the company says currency moves could affect full-year results. It says it will announce a revision promptly if one is needed. The dividend forecast stands at ¥240 a share for the year, including a ¥120 interim payment.
HIOKI says shipments remain above the prior-year level and that it is using its production lines and partner factories to ship as parts arrive. If supply stays tight, it plans substitute parts and design changes. The quarterly financial statements have not been reviewed by an auditor.