Maruwa Co. (5344) Q1 2025 earnings summary

Executive summary

• Net sales rose 27.7% year-over-year to ¥16,243 million for 1Q FY2024, driven by new energy vehicles and next-generation high-speed communications.

• Operating profit increased 60.1% year-over-year to ¥5,651 million.

• Profit attributable to owners of parent increased 65.3% year-over-year to ¥4,704 million.

• Earnings per share reached ¥364.96, up from ¥230.73 in the prior year period.

Financial highlights

• Ordinary profit grew 49.1% year-over-year to ¥6,181 million in 1Q.

• Gross profit improved to ¥8,578 million from ¥6,188 million year-over-year.

• Comprehensive income increased to ¥5,343 million from ¥3,260 million year-over-year.

• Total assets grew to ¥124,916 million as of June 30, 2024.

• Equity ratio improved to 91.3% from 89.1% at the previous fiscal year-end.

Outlook and guidance

• FY2024 net sales forecast at ¥70,300 million (+14.2% year-over-year); operating profit forecast at ¥23,000 million (+16.2%).

• Full-year profit attributable to owners of parent expected to rise 16.2% year-over-year.

• Annual dividend per share forecasted at ¥94.00, up from ¥86.00 in the previous year.

• No revision to earnings forecast; progress is on track, but ordinary income and net profit forecasts omitted due to FX uncertainty.

• Market demand for new energy vehicles and next-gen communications expected to remain strong; SPE business to expand in 2H.