Meidensha (6508) Q3 2025 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2024, rose 3.9% year-over-year to ¥191,083 million, with net income attributable to owners of the parent up 261.3% to ¥5,931 million (¥130.75 per share).

• Operating income improved significantly to ¥5,990 million from a loss of ¥79 million in the prior year period.

• Strong demand in heavy electrical products and systems, especially in power infrastructure, drove growth, though labor shortages caused some project delays.

Financial highlights

• Gross profit increased to ¥49,937 million from ¥41,130 million year-over-year.

• Operating income reached ¥5,990 million, up from a loss of ¥79 million; ordinary income rose to ¥6,722 million from ¥424 million.

• Net income attributable to owners of the parent was ¥5,931 million, up from ¥1,641 million year-over-year.

• Cash and time deposits increased to ¥31,402 million as of December 31, 2024.

• Net cash provided by operating activities surged to ¥21,266 million from ¥5,172 million year-over-year.

Outlook and guidance

• Full-year forecast for FY2024 revised upward: net sales expected at ¥305,000 million, operating income at ¥18,500 million, and net income attributable to owners of the parent at ¥14,000 million.

• Management expects continued robust demand in Power Infrastructure and Field Service Engineering, offsetting EV business weakness.