Maruwa Co. (5344) Q2 2027 earnings summary

Executive summary

• H1 FY2027 net sales rose 41.7% YoY to ¥46,921 million; operating profit rose 62.4% to ¥17,605 million and net profit rose 63.5% to ¥12,119 million, all record highs.

• Growth was driven by strong next-generation communications demand, a recovery in general-purpose memory, and improved new-energy-vehicle demand.

Financial highlights

• H1 gross profit was ¥26,163 million versus ¥17,088 million YoY; SG&A was ¥8,558 million versus ¥6,245 million.

• Ordinary profit increased 58.6% YoY to ¥17,640 million; profit attributable to owners of the parent was ¥12,119 million versus ¥7,413 million.

• Comprehensive income reached ¥11,822 million, up from ¥8,090 million YoY.

Outlook and guidance

• FY2027 forecast was revised upward: net sales ¥101,500 million, operating and ordinary profit ¥38,300 million each, and parent-attributable profit ¥26,000 million.

• Forecast YoY growth is 36.3% for sales, 53.3% for operating profit, 45.5% for ordinary profit and 43.1% for parent-attributable profit; basic EPS forecast is ¥2,106.86.

• Strong demand is expected to continue in H2; forecast assumes ¥158 per U.S. dollar.