Miyaji Engineering Group (3431) Q2 2027 earnings summary

Executive summary

• H1 orders received rose 10.2% YoY to ¥26,358 million, while net sales fell 14.7% to ¥24,145 million as fewer large projects generated sales.

• Operating profit declined 52.2% to ¥1,360 million; profit attributable to owners of parent fell 39.9% to ¥1,083 million.

Financial highlights

• Gross profit was ¥3,911 million versus ¥5,307 million YoY; SG&A increased to ¥2,550 million from ¥2,460 million.

• Cash and cash equivalents ended H1 at ¥11,188 million, down ¥1,182 million from fiscal year-end.

• Total assets fell to ¥77,246 million from ¥82,021 million; net assets decreased to ¥49,407 million from ¥49,988 million.

Outlook and guidance

• FY2027 forecast: net sales ¥56,000 million, operating profit ¥3,000 million, ordinary profit ¥3,100 million, net income ¥2,000 million and EPS ¥76.11; forecast was revised.

• FY2027 dividend forecast remains ¥75 per share: ¥27 interim and ¥48 year-end.

• Management expects large-scale renovation and maintenance orders to recover gradually and plans to announce its FY2027–FY2031 medium-term plan during the current fiscal year.