C.Uyemura & Co (4966) Q2 2027 earnings summary

Executive summary

• H1 revenue rose 26.7% YoY to ¥52,838m and operating income rose 22.9% to ¥11,767m, supported by AI-server-related materials demand.

• FY2027 guidance was revised to ¥108,200m revenue and ¥17,700m net income, supported by continued package-substrate plating chemical sales.

Financial highlights

• H1 ordinary income reached ¥12,303m, up 27.6% YoY; net income attributable to owners reached ¥8,700m, up 26.9%.

• H1 revenue exceeded prior guidance by ¥8,128m, operating income by ¥2,437m and net income by ¥1,600m.

• Operating income increased ¥2,192m YoY as higher materials and machinery gross profit more than offset higher SG&A and R&D costs.

Outlook and guidance

• FY2027 forecasts: revenue ¥108,200m, operating income ¥24,700m, ordinary income ¥25,300m and net income ¥17,700m.

• Versus prior guidance, forecasts rose 12.9% for revenue, 21.5% for operating income, 21.1% for ordinary income and 21.8% for net income; EPS forecast ¥1,107.78.

• FY forecast assumes USD/JPY 157.98; each ¥1 weaker yen is estimated to add ¥370m to revenue and ¥90m to operating income, with reverse impacts for yen strength.