Macnica Holdings (3132) Q3 2026 earnings summary

Executive summary

• Net sales for Q1–Q3 FY2025 reached ¥888.2 billion, up 14% year-over-year, driven by strong overseas demand in the Semiconductor Business and robust IT security product sales.

• Semiconductor Business saw robust AI-related demand and new overseas business, though profits were pressured by currency fluctuations and higher SG&A expenses from new entity consolidations.

• Cybersecurity Business maintained solid performance both domestically and internationally, with strong endpoint security product sales.

• Operating income declined 14.9% year-over-year to ¥28.3 billion due to higher SG&A expenses, including consolidation of Navya Mobility SAS.

• Net income attributable to owners was ¥18.3 billion for Q1–Q3, down 19% year-over-year.

Financial highlights

• Consolidated net sales for Q3 were ¥312.7 billion, up 19% year-over-year and 6% sequentially.

• Gross profit increased to ¥93,626 million from ¥91,270 million year-over-year.

• Net income per share was ¥102.75, reflecting a 1-for-3 share split effective October 1, 2024.

• Total assets increased to ¥652,004 million from ¥556,438 million at the previous fiscal year-end.

• Net assets rose to ¥278,758 million, with an equity ratio of 41.2%.

Outlook and guidance

• Full-year net sales forecast revised upward to ¥1,200 billion due to stronger-than-expected overseas sales in the Semiconductor Business.

• Operating and ordinary profit forecasts revised downward, mainly due to lower-than-expected sales of autonomous buses in CPS Solutions.

• Net profit forecast remains unchanged, supported by gains on sale of investment securities.

• Net income per share forecast at ¥151.26.

• Management notes ongoing uncertainty due to geopolitical risks and exchange rate volatility.