Macnica Holdings (3132) Q4 2026 earnings summary

Executive summary

• FY2025 consolidated net sales rose 17.4% year-over-year to ¥1,214.2 billion, driven by strong demand for high-performance semiconductors, cybersecurity solutions, and a 27% increase in CPS Solutions.

• Net income attributable to owners of parent increased 10% year-over-year to ¥27.8 billion, with operating income up 6% to ¥42 billion.

• AI-related business surged 142% year-over-year, driven by strong demand for AI infrastructure and system products.

• The electronics industry saw robust growth in AI server demand, while cybersecurity needs expanded amid rising cyber threats.

Financial highlights

• Semiconductor Business net sales exceeded ¥1 trillion for the first time, up 18% year-over-year to ¥1,028.6 billion.

• Cybersecurity Business net sales grew 13% year-over-year to ¥173.9 billion, with software and service segments up 16% each.

• Gross profit increased to ¥130,438 million from ¥121,252 million year-over-year.

• Comprehensive income surged 60.4% to ¥40,623 million.

• Dividend per share increased to ¥70 for FY2025, with a planned rise to ¥80 for FY2026.

Outlook and guidance

• FY2026 net sales are projected at ¥1,300 billion (+7% year-over-year), with operating income forecast at ¥52 billion (+24%).

• FY2027 forecast: 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%).

• Semiconductor Business expected to maintain overseas growth and recover domestically; Cybersecurity to sustain double-digit growth; CPS Solutions to narrow losses while investing in Smart City/Mobility.

• AI server demand and cybersecurity market expected to remain strong, but memory product shortages and geopolitical risks present uncertainties.