Meiko Electronics (6787) Q3 2025 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2024, reached ¥151.8 billion, up 13.6% year-over-year.

• Operating income rose 75.7% year-over-year to ¥14.6 billion, with margin improving from 6.2% to 9.7%.

• Ordinary income reached ¥16.0 billion, up 63.1% year-over-year.

• Net income attributable to owners of parent grew 63.5% year-over-year to ¥12.6 billion, with net margin up from 5.8% to 8.3%.

• Comprehensive income for the period was ¥17.4 billion, up 43.2% year-over-year.

Financial highlights

• Basic earnings per share for the nine months was ¥480.37, up from ¥290.25 in the prior year.

• Total assets as of December 31, 2024, were ¥268.3 billion, with net assets of ¥120.0 billion.

• Equity-to-asset ratio stood at 42.0% as of December 31, 2024.

• Average JPY/USD exchange rate shifted from 143.79 to 153.03.

Segment performance

• Automotive segment accounted for ¥67.7 billion (44.7%) of net sales in FY2024 Q3, down from 53.2% share in FY2023 Q3.

• EMS/ODM sales increased to ¥26.1 billion (17.2% of total), up from ¥21.9 billion (16.4%).

• HDI product sales rose to ¥63.6 billion (41.9% of total), up from ¥45.1 billion (33.8%).

• MLB product sales were ¥56.7 billion (37.4%), down from ¥60.5 billion (45.3%).