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Financial results presentation6787Meiko Electronics Co.,Ltd.Electrical and Precision Instruments

Supplementary Financial Results Explanatory Materials for the First Half of Fiscal 2026

Raised the full-year forecast for FY2026 to ¥380 billion in revenue and ¥48 billion in operating profit. The company also revised its medium-term management plan, adding ¥25 billion to investment for the current fiscal year and outlining plans to expand production capacity.

Worth reading
49Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
100
¥100 million (full-year operating income forecast revision)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFirst half of fiscal 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,658 100 million+48.7%
Operating profit¥175 100 million+53.2%
Ordinary income¥143 100 million+25.6%
Net income¥110 100 million+16.7%
Operating profit margin10.6 %
Full-year earnings forecast
Net Sales
¥3,800 100 million
Operating profit
¥480 100 million
Ordinary income
¥450 100 million
Net income for the current fiscal year
¥340 100 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Increase in revenue¥543 100 million
  • Increase in operating profit¥61 100 million
  • Increase in substrate revenue¥434 100 million
  • Increase in electronic equipment revenue¥109 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Exchange rate150 JPY/USD
New initiatives
  • Full-scale production to begin at the fourth factory in Vietnam and the Hoa Binh factory
  • Full-scale production to begin at the Yen Quang and Quang Minh factories from FY2028
  • AI server production to begin in August
  • Optical transceiver production to begin in the latter part of the second half of the fiscal year
  • Add ¥25 billion to investment for the current fiscal year
Key KPIsA metric the company considers important as a management benchmark.
  • Automotive revenue¥589 100 million+25.6%
  • Smartphone revenue¥162 100 million+22.7%
  • Satellite communications revenue¥335 100 million+207.3%
  • Semiconductor package and module revenue¥144 100 million+69.4%
  • EMS revenue¥118 100 million+35.6%
  • ODM revenue¥186 100 million+72.2%
Segment results
  • Circuit boards
    Net Sales¥1,354 100 million (YoY +47.2%)
    Operating profit¥159 100 million (YoY +59.0%)
  • Electronic Equipment
    Net Sales¥304 100 million (YoY +55.9%)
    Operating profit¥16 100 million (YoY +14.3%)
Medium-term management plan targets
Target fiscal yearFY2028
Net Sales
¥6,600 100 million
Operating profit
¥1,000 100 million
Operating profit margin
15.2 %
Compared with fiscal 2025 resultsRevenue from ¥240.6 billion to ¥660 billion, operating profit from ¥24.6 billion to ¥100 billion
Financial targets
FY2026 Forecast
Equity ratio32.9 %
Debt-to-equity ratio1.3 %
ROE19.7 %
unit_ROE%
ROIC11.6 %
unit_ROIC%
DOE2.8 %
unit_DOE%
FY2028 forecast
Equity ratio38 %
Debt-to-equity ratio0.8 %
ROE27.9 %
unit_ROE%
ROIC16.4 %
unit_ROIC%
DOE4.2 %
unit_DOE%
Capital expenditures
¥950 100 million
Payout ratio
Not disclosed (DOE: 2.8% forecast for FY2026 and 4.2% forecast for FY2028)
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst half of fiscal 2026
Net Sales¥1,658 100 million (YoY +48.7%)
Operating profit¥175 100 million (YoY +53.2%)
Ordinary income¥143 100 million (YoY +25.6%)
Net income¥110 100 million (YoY +16.7%)
Operating profit margin10.6 %
Full-year earnings forecastNet Sales ¥3,800 100 million / Operating profit ¥480 100 million / Ordinary income ¥450 100 million / Net income for the current fiscal year ¥340 100 million
Segment resultsSegment Circuit boards / Net Sales ¥1,354 100 million (YoY +47.2%) / Operating profit ¥159 100 million (YoY +59.0%), Segment Electronic Equipment / Net Sales ¥304 100 million (YoY +55.9%) / Operating profit ¥16 100 million (YoY +14.3%)
Breakdown of Factors Affecting the ChangeFactors Increase in revenue / Amount ¥543 100 million, Factors Increase in operating profit / Amount ¥61 100 million, Factors Increase in substrate revenue / Amount ¥434 100 million, Factors Increase in electronic equipment revenue / Amount ¥109 100 million
Key KPIs¥589 100 million (YoY +25.6%), ¥162 100 million (YoY +22.7%), ¥335 100 million (YoY +207.3%), ¥144 100 million (YoY +69.4%), ¥118 100 million (YoY +35.6%), ¥186 100 million (YoY +72.2%)
Assumptions Underlying the Business OutlookExchange rate 150 JPY/USD
Medium-term management plan targetsTarget fiscal year FY2028 / Net Sales ¥6,600 100 million / Operating profit ¥1,000 100 million / Operating profit margin 15.2 % / Compared with fiscal 2025 results Revenue from ¥240.6 billion to ¥660 billion, operating profit from ¥24.6 billion to ¥100 billion
Financial targetsFY2026 Forecast Equity ratio 32.9 % / Debt-to-equity ratio 1.3 % / ROE 19.7 % / unit_ROE % / ROIC 11.6 % / unit_ROIC % / DOE 2.8 % / unit_DOE % / FY2028 forecast Equity ratio 38 % / Debt-to-equity ratio 0.8 % / ROE 27.9 % / unit_ROE % / ROIC 16.4 % / unit_ROIC % / DOE 4.2 % / unit_DOE %
Payout ratioNot disclosed (DOE: 2.8% forecast for FY2026 and 4.2% forecast for FY2028)
Capital expenditures¥950 100 million
New initiativesFull-scale production to begin at the fourth factory in Vietnam and the Hoa Binh factory, Full-scale production to begin at the Yen Quang and Quang Minh factories from FY2028, AI server production to begin in August, Optical transceiver production to begin in the latter part of the second half of the fiscal year, Add ¥25 billion to investment for the current fiscal year
Items this document does not state (14)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAnnual DividendAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey points of the Q&A

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 company expects sales to grow in satellite communications, AI servers, optical transceivers, smartphones, and semiconductor packages and modules. However, it revised sales prices because procurement costs increased significantly due to shortages of raw material supplies.

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.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Supplementary Financial Results Explanatory Materials for the First Half of Fiscal 2026 | Meiko Electronics Co.,Ltd. (6787) timely disclosure | Komori