Worth reading
80Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
1500
Hundreds of millions of yenWording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFirst quarter of the fiscal year ended March 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales5,023 Hundreds of millions of yen+20.7%
Operating profit985 Hundreds of millions of yen+59.8%
Ordinary income¥1,092 100 million +75.3%profit before tax
Net income¥814 100 million +63.7%profit for the year attributable to owners of the parent
Operating profit margin19.6 %
Results for the three months of the current quarter
Revenue¥502.3 billion
Operating profit¥98.5 billion
Profit before tax¥109.2 billion
Profit for the period attributable to owners of the parent¥81.4 billion
Full-year earnings forecast
Revenue
21,100 Hundreds of millions of yen
Operating profit
4,300 Hundreds of millions of yen
Profit before tax
4,510 Hundreds of millions of yen
Profit for the period attributable to owners of the parent
3,380 Hundreds of millions of yen
Capital Expenditure
2,550 Hundreds of millions of yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Change in operating profit from fiscal 2025 Q1 to fiscal 2026 Q1Capacity-utilization gains +¥48.0 billion, rationalization benefits +¥8.0 billion, foreign-exchange movements +¥17.0 billion, selling-price reductions ▲¥15.0 billion, higher depreciation and amortization ▲¥3.9 billion, higher semi-variable and fixed costs ▲¥18.0 billion, other +¥0.8 billion
Change in fiscal 2026 full-year operating profit from the April forecast to the July forecastRationalization benefits +¥0 billion, capacity-utilization gains +¥48.0 billion, selling-price reductions +¥18.0 billion, foreign-exchange movements +¥28.0 billion, higher depreciation and amortization ▲¥4.2 billion, higher semi-variable and fixed costs ▲¥17.0 billion, other ▲¥22.8 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Exchange rate¥155/USD from the second quarter onward; ¥156.12/USD for the full-year forecast
Smartphone component units incorporated1.19 billion units
Automobile production volume90.36 million vehicles
PC component units incorporated360 million units
5G device mix67.7%
xEV mix50.2%
Depreciation and amortization¥182.0 billion
Research and development costs¥174.0 billion
Capital expenditures¥255 billion
New initiatives
- Increase the capital investment plan by ¥5.0 billion to meet rising demand, mainly for device and module products
- Proceed with the planned ¥150.0 billion share repurchase during the current fiscal year in line with the initial policy
Key KPIsA metric the company considers important as a management benchmark.
- Orders received6,739 Hundreds of millions of yenYear on year against the same period last yearRecord high; increased both year on year and from the immediately preceding quarter
- Order backlog6,178 Hundreds of millions of yen
- Bill-to-book ratio1.34 timesYear on year against the same period last yearUp from 1.04 in the prior-year period
- Production value5,190 Hundreds of millions of yenYear on year against the same period last yearIncreased from ¥427.0 billion in the prior-year period
- Data center-related sales697 Hundreds of millions of yenYear on year against the same period last year+81.1%
- ROIC (after tax), full-year forecast13.9 %Year on year against the same period last yearUp from the April forecast of 12.3%
Segment results
Components
Revenue¥349.3 billion
Operating profit¥113.6 billion
Year on year against the same period last yearRevenue +27.5%, operating profit +59.5%
Devices and Modules
Revenue¥151.4 billion
Operating profit▲¥12.9 billion
Year on year against the same period last yearRevenue +6.2%; operating profit deteriorated from ▲¥8.0 billion in the prior-year period
Other
Revenue¥19.0 billion
Operating profitNegative ¥2.2 billion
Eliminations
Revenue▲¥17.5 billion
Revenue by Business
Capacitors¥282.5 billion (up 30.0% year on year)
Inductors and EMI filters¥64.3 billion (up 22.4%)
High-frequency and communications¥86.1 billion (up 5.0%)
Energy and power¥34.8 billion (down 2.7%)
Functional devices¥30.5 billion (up 23.0%)
Other¥4.1 billion (up 10.0%)
Financial targets
ROIC (after tax)April forecast 12.3%; July forecast 13.9%
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Power module business project drop loss(¥3.0 billion)
Impact of U.S. tariffs+¥4.0 billion (including refunds)
Orders received and order backlog
Orders received¥673.9 billion
Order backlog¥617.8 billion
Capital expenditures
2,550 Hundreds of millions of yen
Annual Dividend
Unchanged from the previously announced figure (per-share amount: Not disclosed)Acquisition of treasury shares
¥150 billion
PeriodPlanned during the current fiscal year
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | First quarter of the fiscal year ended March 2026 |
| Net Sales | 5,023 Hundreds of millions of yen (YoY +20.7%) |
| Operating profit | 985 Hundreds of millions of yen (YoY +59.8%) |
| Ordinary income | ¥1,092 100 million (profit before tax) (YoY +75.3%) |
| Net income | ¥814 100 million (profit for the year attributable to owners of the parent) (YoY +63.7%) |
| Operating profit margin | 19.6 % |
| Results for the three months of the current quarter | Revenue ¥502.3 billion / Operating profit ¥98.5 billion / Profit before tax ¥109.2 billion / Profit for the period attributable to owners of the parent ¥81.4 billion |
| Full-year earnings forecast | Revenue 21,100 Hundreds of millions of yen / Operating profit 4,300 Hundreds of millions of yen / Profit before tax 4,510 Hundreds of millions of yen / Profit for the period attributable to owners of the parent 3,380 Hundreds of millions of yen / Capital Expenditure 2,550 Hundreds of millions of yen |
| Segment results | Components Revenue ¥349.3 billion / Operating profit ¥113.6 billion / Year on year against the same period last year Revenue +27.5%, operating profit +59.5% / Devices and Modules Revenue ¥151.4 billion / Operating profit ▲¥12.9 billion / Year on year against the same period last year Revenue +6.2%; operating profit deteriorated from ▲¥8.0 billion in the prior-year period / Other Revenue ¥19.0 billion / Operating profit Negative ¥2.2 billion / Eliminations Revenue ▲¥17.5 billion / Revenue by Business Capacitors ¥282.5 billion (up 30.0% year on year) / Inductors and EMI filters ¥64.3 billion (up 22.4%) / High-frequency and communications ¥86.1 billion (up 5.0%) / Energy and power ¥34.8 billion (down 2.7%) / Functional devices ¥30.5 billion (up 23.0%) / Other ¥4.1 billion (up 10.0%) |
| Breakdown of Factors Affecting the Change | Change in operating profit from fiscal 2025 Q1 to fiscal 2026 Q1 Capacity-utilization gains +¥48.0 billion, rationalization benefits +¥8.0 billion, foreign-exchange movements +¥17.0 billion, selling-price reductions ▲¥15.0 billion, higher depreciation and amortization ▲¥3.9 billion, higher semi-variable and fixed costs ▲¥18.0 billion, other +¥0.8 billion / Change in fiscal 2026 full-year operating profit from the April forecast to the July forecast Rationalization benefits +¥0 billion, capacity-utilization gains +¥48.0 billion, selling-price reductions +¥18.0 billion, foreign-exchange movements +¥28.0 billion, higher depreciation and amortization ▲¥4.2 billion, higher semi-variable and fixed costs ▲¥17.0 billion, other ▲¥22.8 billion |
| Key KPIs | Indicator name Orders received / Value 6,739 Hundreds of millions of yen / Year on year against the same period last year Record high; increased both year on year and from the immediately preceding quarter, Indicator name Order backlog / Value 6,178 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator name Bill-to-book ratio / Value 1.34 times / Year on year against the same period last year Up from 1.04 in the prior-year period, Indicator name Production value / Value 5,190 Hundreds of millions of yen / Year on year against the same period last year Increased from ¥427.0 billion in the prior-year period, Indicator name Data center-related sales / Value 697 Hundreds of millions of yen / Year on year against the same period last year 81.1 Hundreds of millions of yen, Indicator name ROIC (after tax), full-year forecast / Value 13.9 % / Year on year against the same period last year Up from the April forecast of 12.3% |
| Assumptions Underlying the Business Outlook | Exchange rate ¥155/USD from the second quarter onward; ¥156.12/USD for the full-year forecast / Smartphone component units incorporated 1.19 billion units / Automobile production volume 90.36 million vehicles / PC component units incorporated 360 million units / 5G device mix 67.7% / xEV mix 50.2% / Depreciation and amortization ¥182.0 billion / Research and development costs ¥174.0 billion / Capital expenditures ¥255 billion |
| Risk amount incorporated into the outlook | Power module business project drop loss (¥3.0 billion) / Impact of U.S. tariffs +¥4.0 billion (including refunds) |
| Financial targets | ROIC (after tax) April forecast 12.3%; July forecast 13.9% |
| Annual Dividend | Unchanged from the previously announced figure (per-share amount: Not disclosed) |
| Acquisition of treasury shares | Amount ¥150 billion / Period Planned during the current fiscal year / Number of Shares Not disclosed |
| Capital expenditures | 2,550 Hundreds of millions of yen |
| Orders received and order backlog | Orders received ¥673.9 billion / Order backlog ¥617.8 billion |
| New initiatives | Increase the capital investment plan by ¥5.0 billion to meet rising demand, mainly for device and module products, Proceed with the planned ¥150.0 billion share repurchase during the current fiscal year in line with the initial policy |
Items this document does not state (11)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesMedium-term management plan targetsPayout ratioMarket 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 increase in first-quarter revenue was attributable to growth across a wide range of applications, including data centers, particularly components, and mobility, as well as the impact of the weaker yen. The increase in operating profit reflected higher capacity-utilization gains associated with increased production and the effect of the weaker yen, which exceeded the negative factors of higher fixed costs and lower product prices. The full-year forecast was revised upward mainly due to expanding demand for data center-related components, particularly for AI servers, and a review of the assumed exchange rate.
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