Maxell (6810) Q2 2027 earnings summary

Executive summary

• H1 FY2027 net sales rose 15.8% YoY to ¥74,850M; operating profit increased 14.0% to ¥5,762M and parent-attributable profit rose 12.1% to ¥4,747M.

• Results exceeded plan, driven by adhesive tapes, recovering semiconductor-related sales, price pass-through and yen depreciation; full-year guidance remains unchanged.

Financial highlights

• Net sales increased ¥10.2B YoY: quantity +¥4.0B, price +¥3.3B and foreign exchange +¥2.9B.

• Operating profit rose ¥0.7B to ¥5,762M; price and FX gains offset higher material costs, investment and depreciation.

• Ordinary profit rose 13.8% to ¥5,814M; basic EPS was ¥128.76 versus ¥98.16 YoY.

• Sales gains included primary batteries, adhesive tapes, industrial materials, automotive optics and semiconductor-related products; rechargeable batteries and health and beauty care products declined.

Outlook and guidance

• FY2027 forecast remains unchanged: net sales ¥143,000M, operating profit ¥10,000M, parent-attributable profit ¥6,700M and EPS ¥181.74.

• Performance is expected to remain generally solid from Q3, led by semiconductor-related products and the Analog Core Business Group.

• Primary batteries remain firm, particularly for medical devices; the new production line is operating, with pre-price-revision demand pull-forward a watchpoint.

• Construction tape capacity is ramping, while AI and data-center demand supports semiconductor tapes; silver-cost pass-through is expected to support appropriate profitability from Q3.