Worth reading
62In focus
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
84.6
% (year-on-year change in operating income)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026–30 September 2026ConsolidatedJapanese GAAPNet Sales262,546¥ millionYear on year +34.3%Progress 46.5%
Operating profit60,116¥ millionYear on year +84.6%Progress 45.2%
Ordinary income61,009¥ millionYear on year +88.9%Progress 45.4%
Net income attributable to owners of the parent38,574¥ millionYear on year +74.8%Progress 43.3%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥68.63
Financial position at period-end
Total assets1,127,606¥ million
of which net assets 610,884 ¥ millionEquity ratio 53.5%vs. prior year-end -3.8pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+193,178
Investment-48,886
Financials-18,333
Net change+125,959
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥417,684 million
Segment revenueElectronics ¥172,540 million (YoY +52.0%), Ceramics ¥46,156 million (YoY +16.3%), Other ¥43,849 million (YoY +3.8%)
Segment profitElectronics ¥50,028 million (YoY +96.7%), Ceramics ¥5,391 million (YoY +40.4%), Other ¥4,623 million (YoY +42.2%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥565,000 million (YoY +35.8%)
Operating profit¥133,000 million (YoY +114.4%)
Ordinary income¥134,500 million (YoY +121.1%)
Net income¥89,000 million (YoY +39.7%)
Revision to Earnings ForecastNot disclosed → Net Sales 565,000 / Operating profit 133,000 / Ordinary income 134,500 / Net income 89,000
Annual Dividend Forecast15 yen (annual dividend after the stock split, from the previous period's actual dividend to the current period's forecast) → 20 yen (annual dividend after the stock split, from the previous period's actual dividend to the current period's forecast)（+33.3%）
Factors Behind Changes in Business Performance
Demand for high-performance IC package substrates for generative AI and general-purpose servers remained resilient, production at the Ohno Plant stabilized, the semiconductor market recovered, automobile sales, orders and production and sales volumes increased, and the yen remained on a weakening trend.
Disclosure regarding the going concern assumption
No applicable matters.
Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 None
Material subsequent eventsPartial conversion of convertible bonds with stock acquisition rights, a stock split and amendments to the Articles of Incorporation effective 1 October 2026, and a decision to invest approximately ¥151 billion in capital expenditures to expand production capacity for high-performance IC package substrates for AI servers.
Impairment lossNo impairment loss was recognized in the current interim period. In the previous interim period, an impairment loss of ¥506 million was recognized on idle assets.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥5 million, Gain on sale of investment securities ¥0 million, Subsidy Income ¥813 million / Extraordinary loss Loss on retirement of non-current assets ¥1,606 million, Loss on reduction of fixed assets ¥813 million, Other ¥49 million / Total extraordinary income ¥818 million / Total extraordinary loss ¥2,469 million
Depreciation and amortization¥35,877 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (no attendees specified)
Issued Shares at Period-End567,387,652
Treasury Shares at Period-End1,859,388
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026–30 September 2026 |
| Net Sales | ¥262,546 million (YoY +34.3%) |
| Operating profit | ¥60,116 million (YoY +84.6%) |
| Ordinary income | ¥61,009 million (YoY +88.9%) |
| Profit attributable to owners of the parent | ¥38,574 million (YoY +74.8%) |
| Net income per share | ¥68.63 |
| Equity ratio | End of the current fiscal period 53.5 / End of previous period 57.3 |
| Total assets | ¥1,127,606 million |
| Net assets | ¥610,884 million |
| Cash flows from operating activities | ¥193,178 million |
| Cash flows from investing activities | ¥-48,886 million |
| Cash flows from financing activities | ¥-18,333 million |
| Cash and cash equivalents at end of period | ¥417,684 million |
| Full-year earnings forecast | Net Sales ¥565,000 million (YoY +35.8%) / Operating profit ¥133,000 million (YoY +114.4%) / Ordinary income ¥134,500 million (YoY +121.1%) / Net income ¥89,000 million (YoY +39.7%) |
| Revision to Earnings Forecast | Not disclosed → Net Sales 565,000 / Operating profit 133,000 / Ordinary income 134,500 / Net income 89,000 |
| Annual Dividend Forecast | 15 yen (annual dividend after the stock split, from the previous period's actual dividend to the current period's forecast) → 20 yen (annual dividend after the stock split, from the previous period's actual dividend to the current period's forecast)（+33.3%） |
| Segment revenue | Electronics ¥172,540 million (YoY +52.0%), Ceramics ¥46,156 million (YoY +16.3%), Other ¥43,849 million (YoY +3.8%) |
| Segment profit | Electronics ¥50,028 million (YoY +96.7%), Ceramics ¥5,391 million (YoY +40.4%), Other ¥4,623 million (YoY +42.2%) |
| Depreciation and amortization | ¥35,877 million |
| Impairment loss | No impairment loss was recognized in the current interim period. In the previous interim period, an impairment loss of ¥506 million was recognized on idle assets. |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥5 million, Gain on sale of investment securities ¥0 million, Subsidy Income ¥813 million / Extraordinary loss Loss on retirement of non-current assets ¥1,606 million, Loss on reduction of fixed assets ¥813 million, Other ¥49 million / Total extraordinary income ¥818 million / Total extraordinary loss ¥2,469 million |
| Disclosure regarding the going concern assumption | No applicable matters. |
| Change in accounting policy | Changes due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement None |
| Material subsequent events | Partial conversion of convertible bonds with stock acquisition rights, a stock split and amendments to the Articles of Incorporation effective 1 October 2026, and a decision to invest approximately ¥151 billion in capital expenditures to expand production capacity for high-performance IC package substrates for AI servers. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (no attendees specified) |
| Issued Shares at Period-End | 567,387,652 |
| Treasury Shares at Period-End | 1,859,388 |
| Factors Behind Changes in Business Performance | Demand for high-performance IC package substrates for generative AI and general-purpose servers remained resilient, production at the Ohno Plant stabilized, the semiconductor market recovered, automobile sales, orders and production and sales volumes increased, and the yen remained on a weakening trend. |
Items this document does not state (6)
Operating MarginPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogChanges in the scope of consolidation
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The factors cited include resilient demand for generative AI and general-purpose servers, a recovery in the semiconductor market, increases in automobile sales, orders and production volumes, and the prevailing trend toward a weaker yen.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.