Yamaichi Electronics (6941) Q2 2025 earnings summary

Executive summary

• 1H FY2024 net sales reached a record ¥27,577m (+48.2% YoY) and operating income ¥6,833m (+335.3%), exceeding August forecasts by ¥0.5bn and ¥0.8bn, respectively.

• Results were driven by strong semiconductor-related demand, especially smartphone and automotive test sockets, alongside expanded production capacity.

• Full-year consolidated forecasts were unchanged, while segment forecasts were revised.

Financial highlights

• 1H FY2024 ordinary income was ¥6,162m (+270.0% YoY); net profit attributable to owners was ¥4,091m (+241.4%).

• EPS was ¥200.77 versus ¥58.24 a year earlier; comprehensive income was ¥3,336m (+22.9%).

• Cash and cash equivalents increased ¥4,182m to ¥17,255m at period end.

Outlook and guidance

• FY2024 forecast remains net sales ¥48,700m, operating income ¥8,800m, ordinary income ¥8.6bn, net profit ¥6,000m and EPS ¥296.39.

• FY2024 forecast growth YoY: net sales +33.7%, operating income +200.0%, ordinary income +195.1% and net profit +191.2%.

• 2H exchange-rate assumptions are ¥145/USD and ¥155/EUR; year-end dividend and earnings guidance were unchanged.

• Test Solutions expects steady DRAM socket demand and strong data-center and ADAS sockets, but slower-than-expected recovery in PC/server sockets; remaining FY2024 socket activity focuses on FY2025 product development.

• Connector Solutions expects strength in automotive and data-center communications products, while prolonged European industrial inventory adjustments remain a headwind.