Keyence Corp

6861: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Keyence Earnings: Record Sales Mask Margin Headwinds, Overseas Growth Underscores Long-Term Upside

Kangyuxiao Li

Feb 2, 2026

Keyence posted record quarterly sales of JPY 289 billion in the December quarter (up 11.4% year on year), with an operating margin of 49.8% and a net margin of 38.4%. Shares fell about 4% on the following trading day.

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Keyence Corp

Keyence Earnings: Record Sales Mask Margin Headwinds, Overseas Growth Underscores Long-Term Upside

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