Meiko Electronics (6787) Q1 2025 earnings summary

Executive summary

• Net sales increased 13.0% year-over-year in Q1 FY2024, reaching ¥47,013 million.

• Operating income surged 260.0% year-over-year to ¥3.3 billion, with margin rising to 7.0%.

• Ordinary income rose 50.3% year-over-year to ¥4,394 million.

• Net income grew 35.0% year-over-year to ¥3.1 billion, with net margin at 6.5%.

• Basic earnings per share for the quarter was ¥116.01, up from ¥85.15 in the prior year.

Financial highlights

• Comprehensive income for the quarter was ¥10,041 million, a 28.9% increase year-over-year.

• Total assets as of June 30, 2024, were ¥251,179 million, with net assets at ¥113,783 million.

• Equity-to-asset ratio stood at 42.4% as of June 30, 2024.

• Average JPY/USD exchange rate shifted from 139.63 to 158.24 year-over-year.

• Average number of shares outstanding during the quarter: 25,648,602.

Segment performance

• Automotive segment net sales up 9.0% year-over-year; operating income up 38.5%.

• Smartphone/Tablet segment net sales up 24.5% year-over-year; operating income up 13.1%.

• EMS/ODM segment net sales down 8.0% year-over-year; operating income down 25.0%.

• Semiconductor Package segment net sales and operating income remained minimal.