Meiko Electronics (6787) Q1 2027 earnings summary

Executive summary

• Net sales increased 38.0% year-over-year to ¥73.2 billion in FY2026 Q1, driven by strong growth in both PCB and Electronic Equipment segments.

• Operating income rose 8.7% year-over-year to ¥6.1 billion, with ordinary income up 14.2% to ¥5.6 billion.

• Net income grew 5.5% year-over-year to ¥4.0 billion.

• Comprehensive income for the quarter was ¥7,976 million, a significant increase from ¥101 million in the prior year period.

Financial highlights

• PCB segment net sales rose 41.0% year-over-year to ¥60.2 billion; Electronic Equipment sales increased 25.0% to ¥13.0 billion.

• Operating income margin for PCB was 9.3%, while Electronic Equipment margin declined to 3.8%.

• Average JPY/USD exchange rate was 160.72, compared to 158.24 in the prior year.

• Basic earnings per share for the quarter were ¥155.12, up from ¥143.96 a year earlier.

• Total assets as of June 30, 2026, were ¥391,491 million, with net assets at ¥149,535 million and an equity-to-asset ratio of 36.3%.

Segment performance

• Automotive application sales increased 25.3% year-over-year to ¥27.7 billion.

• Satellite communications sales surged 183.7% year-over-year to ¥12.2 billion.

• AI server sales nearly doubled, up 85.7% year-over-year to ¥2.6 billion.

• EMS sales declined 11.5% year-over-year to ¥5.4 billion.

• High multi-layer HDI board sales grew 56.4% year-over-year to ¥35.5 billion.