Macnica Holdings (3132) Q1 2027 earnings summary

Executive summary

• Net sales for FY2026 Q1 reached ¥393.4 billion, up 39.7% year-over-year, with all segments contributing to growth.

• Operating income rose 101.4% to ¥16,509 million, and net income attributable to owners of parent increased 114.6% to ¥10,928 million.

• Strong demand in semiconductors, cybersecurity, and CPS Solutions drove growth, with notable expansion in overseas markets and robust domestic recovery.

• Segment structure was revised: CPS Solutions is now a standalone segment, and previous segments were renamed for clarity.

Financial highlights

• Semiconductor Business net sales rose 40.3% year-over-year to ¥334.9 billion, maintaining an 85% share of total sales.

• Cybersecurity Business net sales increased 36.1% year-over-year to ¥56.7 billion.

• CPS Solutions Business net sales grew 32.2% year-over-year to ¥1.8 billion.

• Operating income for the group was ¥16.5 billion, up 101.4% year-over-year.

• Comprehensive income surged 234.7% year-over-year to ¥14,944 million.

Outlook and guidance

• FY2026 full-year net sales target is ¥1,300 billion, with Q1 progress at 30%.

• Full-year forecast for FY ending March 2027: net sales ¥1,300,000 million (+7.1%), operating income ¥52,000 million (+24.0%), net income attributable to owners of parent ¥32,000 million (+15.2%), EPS ¥179.21.

• Semiconductor demand, especially for AI applications, expected to remain robust, but memory shortages and geopolitical risks are not yet factored into forecasts.

• Cybersecurity Business expects continued strong growth, especially in endpoint security.

• Dividend forecast raised to ¥80 per share (pre-split basis), payout ratio estimated at 45%.