Worth reading
55In focus
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
21.8
¥ hundred million (year-on-year increase in first-half sales)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales15,426 Millions of yen+16.4%
Operating profit1,472 Millions of yen+31.6%
Net income998 Millions of yen+17.2%
Operating profit margin9.5 %
Results for the three months of the current quarter
Net Sales
8,062 Millions of yen
Orders received
8,628 Millions of yen
Order backlog
14,693 Millions of yen
Full-year earnings forecast
Net Sales
32,000 Millions of yen
Operating profit
3,200 Millions of yen
Profit attributable to owners of the parent
2,300 Millions of yen
Operating profit margin
10 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Foreign exchange impact250 Millions of yen
Changes in sales scale and mix1,887 Millions of yen
Price Pass-Through40 Millions of yen
Operating profit
Foreign exchange impact190 Millions of yen
Changes in sales scale and mix, including productivity improvements581 Millions of yen
Price Pass-Through40 Millions of yen
Raw Material and Component Prices-370 Millions of yen
Other (including labor costs)-87 Millions of yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
U.S. dollar exchange rate
FY2026 full-year previous forecast¥155
From Q3 onward¥150
Exchange-rate sensitivity (annual revenue)
¥1 change against the US dollar¥25 million
New initiatives
- Accelerate growth investment in priority businesses and increase capital expenditure by ¥500 million from the previous plan to ¥1.7 billion
Key KPIsA metric the company considers important as a management benchmark.
- Book-to-bill ratio (consolidated)1.27 times
- Orders received (consolidated)8,628 Millions of yen
- Order backlog (consolidated)14,693 Millions of yen
Segment results
Capacitors and modules
Net Sales
10,166 Millions of yen+17.5%
Operating profit
571 Millions of yen-9.1%
Power equipment systems
Net Sales
5,259 Millions of yen+14.3%
Operating profit
1,680 Millions of yen+31.8%
Orders received and order backlog
Orders received
8,628 Millions of yen
Order backlog
14,693 Millions of yen
Capital expenditures
¥1,700 million decision-making basis
Annual Dividend
¥27.5 per share
Interim12.5
End of period15
Payout ratio
30.2 %
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | 15,426 Millions of yen (YoY +16.4%) |
| Operating profit | 1,472 Millions of yen (YoY +31.6%) |
| Net income | 998 Millions of yen (YoY +17.2%) |
| Operating profit margin | 9.5 % |
| Results for the three months of the current quarter | Net Sales 8,062 Millions of yen / Orders received 8,628 Millions of yen / Order backlog 14,693 Millions of yen |
| Full-year earnings forecast | Net Sales 32,000 Millions of yen / Operating profit 3,200 Millions of yen / Profit attributable to owners of the parent 2,300 Millions of yen / Operating profit margin 10 % |
| Segment results | Capacitors and modules Net Sales 10,166 Millions of yen (YoY +17.5%) / Operating profit 571 Millions of yen (YoY -9.1%) / Power equipment systems Net Sales 5,259 Millions of yen (YoY +14.3%) / Operating profit 1,680 Millions of yen (YoY +31.8%) |
| Breakdown of Factors Affecting the Change | Net Sales Foreign exchange impact 250 Millions of yen / Changes in sales scale and mix 1,887 Millions of yen / Price Pass-Through 40 Millions of yen / Operating profit Foreign exchange impact 190 Millions of yen / Changes in sales scale and mix, including productivity improvements 581 Millions of yen / Price Pass-Through 40 Millions of yen / Raw Material and Component Prices -370 Millions of yen / Other (including labor costs) -87 Millions of yen |
| Key KPIs | Indicator name Book-to-bill ratio (consolidated) / Value 1.27 times / Year on year against the same period last year Not disclosed, Indicator name Orders received (consolidated) / Value 8,628 Millions of yen / Year on year against the same period last year Not disclosed, Indicator name Order backlog (consolidated) / Value 14,693 Millions of yen / Year on year against the same period last year Not disclosed |
| Assumptions Underlying the Business Outlook | U.S. dollar exchange rate FY2026 full-year previous forecast ¥155 / From Q3 onward ¥150 / Exchange-rate sensitivity (annual revenue) ¥1 change against the US dollar ¥25 million |
| Annual Dividend | ¥27.5 per share |
| Payout ratio | 30.2 % |
| Capital expenditures | ¥1,700 million (decision-making basis) |
| Orders received and order backlog | Orders received 8,628 Millions of yen / Order backlog 14,693 Millions of yen |
| New initiatives | Accelerate growth investment in priority businesses and increase capital expenditure by ¥500 million from the previous plan to ¥1.7 billion |
Items this document does not state (14)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAcquisition of treasury sharesMarket 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 stated reasons for higher revenue and profit are increased demand for capacitors for industrial equipment and xEVs and domestic power systems equipment, the effect of higher sales, and the impact of the weaker yen. Meanwhile, higher raw material and component prices put downward pressure on operating income in the capacitor module business.
How to read this page
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