Maruwa Co. (5344) Q2 2025 earnings summary

Executive summary

• Achieved record-high quarterly performance in FY2024 1H, driven by new energy vehicles and next-generation high-speed communications.

• Net sales rose 24.1% year-over-year to ¥34,822 million for the six months ended September 30, 2024.

• Operating profit increased 47.9% year-over-year to ¥12,789 million.

• Profit attributable to owners of parent grew 24.5% year-over-year to ¥8,440 million.

• Earnings per share reached ¥684.12, up from ¥549.38 in the prior year period.

Financial highlights

• Gross profit improved to ¥18,720 million from ¥14,008 million year-over-year.

• Ordinary profit rose to ¥11,999 million (+24.8% YoY).

• Comprehensive income increased to ¥9,273 million from ¥7,438 million year-over-year.

• Cash and deposits at period end were ¥64,882 million, up from ¥55,250 million as of March 31, 2024.

• Net cash provided by operating activities was ¥11,109 million, up from ¥6,490 million year-over-year.

Outlook and guidance

• FY2024 year-end forecast: net sales ¥70,300 million (+14.2% YoY), operating profit ¥23,000 million (+16.2% YoY).

• Annual dividend forecast raised to ¥94.00 per share.

• Full recovery of the general-purpose memory market expected to be delayed to the next quarter.

• Forecasts for ordinary income and net profit omitted due to FX uncertainty.