Meiji Electric Industries Co (3388) Q4 2026 earnings summary

Executive summary

• FY Mar-2026 revenue fell 2.9% YoY to ¥76,360m as automotive R&D investment remained subdued; operating income rose 11.4% to ¥3,670m, supported by improved margins and productivity.

• Ordinary income increased 13.7% to ¥4,090m; net income attributable to owners rose 16.8% to ¥2,844m.

• Comprehensive income climbed 75.9% YoY to ¥4,464m.

Financial highlights

• Gross profit increased to ¥12,388m from ¥11,794m; gross profit margin rose 1.2pt to 16.2%.

• Ordinary income rose ¥494m YoY, reflecting improved gross margin and non-operating results, partly offset by lower sales and higher SG&A.

• Cash and cash equivalents more than doubled to ¥14,779m from ¥7,905m.

• Net assets per share rose to ¥2,970.72 from ¥2,700.65.

Outlook and guidance

• FY Mar-2027 forecast: revenue ¥84,000m (+10.0% YoY), operating income ¥4,070m (+10.9%), ordinary income ¥4,380m (+7.1%) and net income ¥3,060m (+7.6%).

• Forecast operating margin is 4.9% (+0.1pt YoY), ROE 7.9%, and EPS ¥239.97; ordinary income growth reflects higher sales, partly offset by higher SG&A and weaker non-operating results.

• The FY Mar-2027 plan targets revenue and profit growth under the 11th Medium-Term Management Plan.