Meiji Electric Industries Co (3388) Q2 2026 earnings summary

Executive summary

• Six-month revenue rose 7.5% YoY to ¥36,745 million; operating income increased 98.5% to ¥1,645 million, and net income attributable to owners of parent rose 105.0% to ¥1,306 million.

• FY26 guidance targets revenue of ¥82,500 million and operating income of ¥3,730 million, for a fifth consecutive year of revenue and profit growth.

• Comprehensive income increased 37% YoY to ¥1,493 million.

Financial highlights

• Six-month revenue was ¥36,745 million versus ¥34,173 million YoY; operating income was ¥1,645 million versus ¥828 million.

• Ordinary income rose 95.6% YoY to ¥1,813 million; net income attributable to owners of parent rose 105.0% to ¥1,306 million.

• Gross profit increased to ¥5,898 million from ¥5,030 million; gross margin rose to 16.0% from 14.7%.

• Ordinary income increased ¥886 million YoY: higher sales added ¥394 million, gross-margin improvement added ¥474 million, and SG&A growth reduced profit by ¥51 million.

• Basic earnings per share was ¥102.58, up from ¥50.09 a year earlier.

Outlook and guidance

• FY26 forecast: revenue ¥82,500 million (+4.9% YoY), operating income ¥3,730 million (+13.2%), ordinary income ¥3,990 million (+10.9%) and net income ¥2,800 million (+15.0%).

• FY26 operating margin is forecast at 4.5% (+0.3 points YoY) and ROE at 8.0% (+0.7 points).

• The 11th Medium-Term Management Plan targets FY27 revenue of ¥90,000 million, operating income of ¥4,570 million, ordinary income of ¥4,840 million, net income of ¥3,400 million, operating margin of 5.1% and ROE of 9.2%.