Maruwa Co. (5344) Q3 2026 earnings summary

Executive summary

• Net sales for FY2025 3Q (Apr–Dec) were ¥53,141 million, up 1.7% year-over-year, while another report notes a decrease to ¥52,225 million, down 1.7% year-over-year.

• Operating profit rose 13.2% to ¥19,734 million in one report, but another shows a decrease to ¥17,124 million, down 13.2% year-over-year.

• Net profit increased 11.7% to ¥13,965 million in one summary, while another reports a decrease to ¥12,332 million, down 11.7% year-over-year.

• Automobile and semiconductor businesses recovered from weak first-half conditions, with strong progress in 3Q.

• The business environment was impacted by geopolitical risks and global monetary/tariff policy shifts, but high-tech and generative AI markets saw active investment.

Financial highlights

• Ordinary profit for FY2025 3Q reached ¥20,034 million, up 10.0% year-over-year, while another report shows a decrease to ¥18,029 million, down 10.0% year-over-year.

• Gross profit for the nine months was ¥26,973 million, down from ¥28,903 million year-over-year.

• Comprehensive income for the period was ¥14,197 million, a 5.7% decrease year-over-year.

• Quarterly net sales in 3Q were ¥19,110 million, with an operating profit of ¥6,281 million and an operating margin of 32.9%.

• Basic earnings per share for the period was ¥999.46, down from ¥1,131.80 the previous year.

Outlook and guidance

• 4Q is expected to see record-high quarterly performance driven by next-generation high-speed communication production.

• No changes to the full-year forecast: net sales projected at ¥75,100 million (+4.5% year-over-year), operating profit at ¥27,000 million (+0.3%).

• Continued growth anticipated in telecommunication and semiconductor markets, with automobile segment entering a recovery and growth phase.

• Lighting segment to benefit from Japan's 2027 policy to phase out fluorescent lamps and strong condominium market.

• Telecommunication-related business expected to accelerate growth in Q4 and next fiscal year.