Meiko Electronics (6787) H1 2025 presentation earnings summary

FY2024 Q2 financial performance

• Net sales rose to ¥98.2 billion, a 13.8% increase year-on-year, with operating income up 121.3% to ¥9.3 billion.

• Ordinary income reached ¥8.0 billion, up 18.4%, and net income was ¥6.3 billion, a 21.3% increase.

• Dividend per share increased from 27 yen to 40 yen.

• Automotive and smartphones remained the largest contributors to net sales by application.

• HDI and MLB specifications accounted for the majority of product sales.

FY2024 full-year forecast and outlook

• Full-year net sales are forecast at ¥197.0 billion, up 9.8%, with operating income expected to reach ¥19.0 billion, a 62.9% increase.

• Net income is projected at ¥15.0 billion, up 32.6%, and dividend per share is forecast to reach 80 yen.

• Automotive segment sales are expected to decline, while HDI product sales are set to rise significantly.

• Capex over the past five years has focused on HDI, supporting growth in this segment.

Initiatives to enhance corporate value

• Ongoing investments in facilities and R&D to drive sales and profit growth.

• Targeting a consolidated dividend payout ratio of 15% and aiming to expand shareholder value.

• Net sales, operating income, and net assets have all grown significantly since FY2020.

• ROE and equity ratio have improved, with stock price and market capitalization rising sharply.