Maruwa Co Ld - 1st Quarter Results

Maruwa

29/07/2026 07:00

RNS Number : 3416O
  
Maruwa Co Ld
  
29 July 2026
  
 






DISCLAIMER:  This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.




 
July 29, 2026
Consolidated Financial Results for the First Quarter of Fiscal Year 2026
 
Company name:            MARUWA CO., LTD.
Listing:                           Tokyo Stock Exchange / Nagoya Stock Exchange
Securities code:             5344
URL:                               https://www.maruwa-g.com/
Representative:              Toshiro Kambe, Representative Director and President
Inquiries:                         Daisuke Yamaguchi, Director and Head of Administration Division
Telephone:                     +81-561-51-0841
Scheduled date to commence dividend payments:                                                 -
Preparation of supplementary material on financial results:                                   Yes
Holding of financial results briefing:                                                                        Yes (for institutional investors and analysts)
 
Rounded down to the nearest million yen
1.     Consolidated financial results for the three months ended June 30, 2026 (from April 1, 2026 to June 30, 2026)
(1)   Consolidated operating results (cumulative)                                                                        (Percentages indicate year-on-year changes.)




 


Net sales


Operating profit


Ordinary profit


Profit attributable to owners of parent




Three months ended


Millions of yen


%


Millions of yen


%


Millions of yen


%


Millions of yen


%




June 30, 2026


19,267


11.7


6,348


5.8


6,574


14.9


4,466


15.2




June 30, 2025


17,256


6.2


6,002


6.4


5,722


(7.4)


3,878


(13.9)




Note:   Comprehensive income  For the three months ended June 30, 2026:                           ¥4,746 million             [12.9%]

 For the three months ended June 30, 2025:                           ¥4,205 million           [(21.3)%]




 


Basic earnings per share


Diluted earnings per share




Three months ended


Yen


Yen




June 30, 2026


361.96


-




June 30, 2025


314.31


-




(2)   Consolidated financial position




 


Total assets


Net assets


Equity-to-asset ratio




As of


Millions of yen


Millions of yen


%




June 30, 2026


165,461


151,377


91.5




March 31, 2026


162,691


147,262


90.5




Reference:   Equity

As of June 30, 2026:                               ¥151,377 million

As of March 31, 2026:                            ¥147,262 million
2.     Cash dividends








Annual dividends per share




First quarter-end


Second quarter-end


Third quarter-end


Fiscal year-end


Total








Yen


Yen


Yen


Yen


Yen




Fiscal year ended

March 31, 2026


-


51.00


-


51.00


102.00




Fiscal year ending

March 31, 2027


-




















Fiscal year ending

March 31, 2027

 (Forecast)






55.00


 


55.00


110.00




Note: Revisions to the forecast of cash dividends most recently announced: None
3. Forecast of consolidated financial results for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027)
(Percentages indicate year-on-year changes.)




 


Net sales


Operating profit


Ordinary profit


Profit attributable to owners of parent


Basic earnings per share




 


Millions of yen


%


Millions of yen


%


Yen


%


Yen


%


Yen




Six months ending

September 30, 2026


42,200


27.4


14,800


36.5


-


-


-


-


-




Fiscal year ending

March 31, 2027


93,300


25.3


33,700


34.9


-


-


-


-


-




Note: Revisions to the earnings forecasts most recently announced: Yes
Regarding profit figures below ordinary profit, it is difficult to provide forecasts at this time due to the potential volatility caused mainly by exchange rate fluctuations.




*Notes
(1)   Significant changes in the scope of consolidation during the period: None
(2)   Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
(3)   Changes in accounting policies, changes in accounting estimates, and restatement
(i)      Changes in accounting policies due to revisions to accounting standards and other regulations: None
(ii)     Changes in accounting policies due to other reasons: None
(iii)    Changes in accounting estimates: None
(iv)    Restatement: None
(4)   Number of issued shares (common shares)
(i)      Total number of issued shares at the end of the period (including treasury shares)




As of June 30, 2026


12,372,000 shares




As of March 31, 2026


12,372,000 shares




(ii)     Number of treasury shares at the end of the period




As of June 30, 2026


32,153 shares




As of March 31, 2026


32,114 shares




(iii)    Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)




Three months ended June 30, 2026


12,339,853 shares




Three months ended June 30, 2025


12,339,793 shares




*   Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm:None
*   Proper use of earnings forecasts, and other special matters
(Cautions on forward-looking statements, etc.)
The forward-looking statements, including forecasts of financial results, contained in these materials are based on information available to the Company and on certain assumptions deemed to be reasonable. Actual financial results may differ from the results anticipated in the statements due to various factors.




 
1. Overview of Operating Results, etc.
(1) Business Results
During the first quarter of the fiscal year ending March 31, 2027 (April 1 to June 30, 2026), concerns over geopolitical risks persisted due to developments in the Middle East and Ukraine, in addition to monetary policies in various countries and foreign exchange trends. In the high-tech market, technological advancements and active investments were observed across a wide range of fields related to generative AI, along with growing global demand for semiconductors.
Working within this business environment, in the tele-communication related business, demand related to next-generation high-speed communications remained at a high level.
As a result, consolidated net sales for the first quarter of the fiscal year ending March 31, 2027 increased by 11.7% year on year to 19,267 million yen, and operating profit rose by 5.8% year on year to 6,348 million yen. These figures represent the highest first quarter results. In addition, ordinary profit increased by 14.9% year on year to 6,574 million yen, and net profit attributable to owners of the parent increased by 15.2% year on year to 4,466 million yen.
 
Sales and profits by segment are as follows.
 
(Ceramic Components Business)
In the tele-communication related business, demand related to next-generation high-speed communications remained at a high level.
As a result, net sales for the first quarter of the fiscal year ending March 31, 2027, increased by 10.1% year on year to 16,785 million yen, and segment profit rose by 6.3% year on year to 6,444 million yen.
 
(Lighting Equipment Business)
This segment performed strongly, supported by increasing demand for LED lighting driven by the government's target of fully transitioning from fluorescent lighting to LED lighting by 2030.
As a result, net sales for the first quarter of the fiscal year ending March 31, 2027, increased by 23.7% year on year to 2,482 million yen, while segment profit rose by 47.7% year on year to 497 million yen.
 
(2) Financial Conditions
(Assets)
Current assets at the end of the first quarter of the fiscal year ending March 31, 2027, totaled 104,248 million yen, an increase of 1,072 million yen from the end of the previous fiscal year. This was mainly due to an increase in raw materials and supplies, and work in process. Fixed assets totaled 61,213 million yen, up 1,697 million yen from the end of the previous fiscal year. This was mainly due to an increase in construction in progress.
As a result, total assets amounted to 165,461 million yen, an increase of 2,770 million yen from the end of the previous fiscal year.
 
(Liabilities)
Current liabilities at the end of the first quarter of the fiscal year ending March 31, 2027, amounted to 13,575 million yen, down 1,281 million yen from the end of the previous fiscal year. This was mainly due to a decrease in income taxes payable resulting from tax payments. Fixed liabilities came to 508 million yen, down 63 million yen from the end of the previous fiscal year.
As a result, total liabilities amounted to 14,083 million yen, down 1,344 million yen from the end of the previous fiscal year.
 
(Net Assets)
Total net assets were 151,377 million yen at the end of the first quarter of the fiscal year ending March 31, 2027, up 4,115 million yen from the end of the previous fiscal year. This was due to the recording of 4,466 million yen in quarterly net profit attributable to owners of the parent.
As a result, the equity ratio was 91.5% (90.5% at the end of the previous fiscal year).




(3) Future Outlook
Based on the expectation of further increases in demand in the tele-communication related and semiconductor related businesses, we have revised our consolidated full-year forecast for the fiscal year ending March 31, 2027, which was initially announced on May 8, 2026.
Current outlook by segment is as follows.
In the tele-communication-related business, demand for a successor model to next-generation high-speed communications is expected to expand. To respond to the significant increase in demand, we will strengthen our production capacity through the commencement of operations at a new building at the Seto Plant.
In the automotive-related business, we aim to achieve growth by further expanding our market share through differentiated products in the new energy vehicle market. At the same time, to further enhance profitability, we will strengthen our earnings by introducing AI and robotics.
In the semiconductor-related business, demand for general-purpose memory is expected to expand in earnest from the second quarter of the fiscal year. To meet robust demand, we will enhance our production capacity through the start of operations at two new buildings at the Miharu Plant.
In the industrial equipment-related business, demand related to power modules is expected to remain firm, while demand for new products in the medical field is expected to increase.
In the lighting equipment-related business is expected to perform strongly, supported by increasing LED demand driven by the government's target of fully transitioning from fluorescent lighting to LED lighting by 2030. Both public and high-end lighting are expected to continue showing steady performance.
 
On the earnings front, although increases in energy and material costs due to heightened geopolitical risks and investments for business expansion are expected, we will continue to enhance profitability through productivity improvements.
The foreign exchange rate is based on the assumption of 158 yen to the U.S. dollar.




Quarterly consolidated balance sheet
(Millions of yen)




 


As of March 31, 2026


As of June 30, 2026




Assets


 


 




Current assets


 


 




Cash and deposits


67,185


67,719




Notes receivable - trade


47


4




Accounts receivable - trade


13,624


12,712




Electronically recorded monetary claims - operating


1,505


1,781




Merchandise and finished goods


2,309


3,338




Work in process


5,354


6,792




Raw materials and supplies


8,631


9,788




Other


4,525


2,118




Allowance for doubtful accounts


(8)


(8)




Total current assets


103,175


104,248




Non-current assets


 


 




Property, plant and equipment


 


 




Buildings and structures, net


19,634


18,833




Machinery, equipment and vehicles, net


14,722


15,379




Land


5,750


6,164




Construction in progress


16,351


17,825




Other, net


819


930




Total property, plant and equipment


57,277


59,132




Intangible assets


 


 




Other


438


491




Total intangible assets


438


491




Investments and other assets


1,799


1,588




Total non-current assets


59,515


61,213




Total assets


162,691


165,461








 
(Millions of yen)




 


As of March 31, 2026


As of June 30, 2026




Liabilities


 


 




Current liabilities


 


 




Notes and accounts payable - trade


4,254


4,435




Electronically recorded obligations - operating


697


562




Income taxes payable


3,942


1,704




Provision for bonuses


1,170


635




Provision for bonuses for directors (and other officers)


133


3




Other


4,659


6,233




Total current liabilities


14,856


13,575




Non-current liabilities


 


 




Deferred tax liabilities


213


148




Other


358


359




Total non-current liabilities


571


508




Total liabilities


15,428


14,083




Net assets


 


 




Shareholders' equity


 


 




Share capital


8,646


8,646




Capital surplus


12,170


12,170




Retained earnings


122,660


126,497




Treasury shares


(198)


(200)




Total shareholders' equity


143,279


147,113




Accumulated other comprehensive income


 


 




Valuation difference on available-for-sale securities


53


90




Foreign currency translation adjustment


3,930


4,173




Total accumulated other comprehensive income


3,983


4,263




Total net assets


147,262


151,377




Total liabilities and net assets


162,691


165,461








Quarterly consolidated statement of income
(Millions of yen)




 


Three months ended

June 30, 2025


Three months ended

June 30, 2026




Net sales


17,256


19,267




Cost of sales


8,180


8,845




Gross profit


9,075


10,422




Selling, general and administrative expenses


3,073


4,074




Operating profit


6,002


6,348




Non-operating income


 


 




Interest income


87


115




Rental income


33


38




Foreign exchange gains


-


80




Other


23


11




Total non-operating income


144


245




Non-operating expenses


 


 




Foreign exchange losses


356


-




Rent expenses on real estate for investments


13


14




Other


54


4




Total non-operating expenses


424


19




Ordinary profit


5,722


6,574




Extraordinary income


 


 




Gain on sale of non-current assets


-


1




Subsidy income


2


1,221




Total extraordinary income


2


1,222




Extraordinary losses


 


 




Loss on sale and retirement of non-current assets


0


76




Loss on tax purpose reduction entry of non-current assets


2


1,196




Loss on abandonment of inventories


1


-




Total extraordinary losses


4


1,273




Profit before income taxes


5,720


6,523




Income taxes - current


1,414


1,699




Income taxes - deferred


427


357




Total income taxes


1,841


2,057




Profit


3,878


4,466




Profit attributable to owners of parent


3,878


4,466








Quarterly consolidated statement of comprehensive income
(Millions of yen)




 


Three months ended

June 30, 2025


Three months ended

June 30, 2026




Profit


3,878


4,466




Other comprehensive income


 


 




Valuation difference on available-for-sale securities


43


37




Foreign currency translation adjustment


283


242




Total other comprehensive income


326


280




Comprehensive income


4,205


4,746




Comprehensive income attributable to


 


 




Comprehensive income attributable to owners of parent


4,205


4,746








(Notes on segment information, etc.)
Segment Information
I. The three months of the previous fiscal year (April 1, 2025 to June 30, 2025)
1. Information on sales and the amount of profit or loss for each reported segment




 


 


 


 


(Millions of yen)




 


Reportable segments


Adjustment amount (Note) 1


Quarterly Consolidated Statements of Income (Note)2




 


CERAMIC CONPONENT


LIGHTING EQUIPMENT


Total




Sales


 


 


 


 


 




Revenues from external customers


15,248


2,007


17,256


-


17,256




Transactions with other segments


1


0


1


(1)


-




Total


15,250


2,007


17,257


(1)


17,256




Segment Profit


6,064


336


6,401


(398)


6,002




Note: 1. Segment profit adjustment of (398) million yen includes 23 million yen of inter-segment transaction elimination and (422) million yen of company-wide expenses that have not been allocated to each reporting segment.
Corporate expenses are selling, general and administrative expenses that are primarily not attributable to the reporting segment.
2. Segment profit is adjusted to operating income in the quarterly consolidated statements of income.
2. Information on impairment losses or goodwill on fixed assets by reporting segment
Not applicable.
II. The three months of the current fiscal year (April 1, 2026 to June 30, 2026)
1. Information on sales and the amount of profit or loss for each reported segment




 


 


 


 


(Millions of yen)




 


Reportable segments


Adjustment amount (Note) 1


Quarterly Consolidated Statements of Income (Note)2




 


CERAMIC CONPONENT


LIGHTING EQUIPMENT


Total




Sales


 


 


 


 


 




Revenues from external customers


16,785


2,482


19,267


-


19,267




Transactions with other segments


4


-


4


(4)


-




Total


16,789


2,482


19,272


(4)


19,267




Segment Profit


6,444


497


6,942


(593)


6,348




Note: 1. Segment profit adjustment of (593) million yen includes 4 million yen of inter-segment transaction elimination and (598) million yen of company-wide expenses that have not been allocated to each reporting segment.
Corporate expenses are selling, general and administrative expenses that are primarily not attributable to the reporting segment.
2. Segment profit is adjusted to operating income in the quarterly consolidated statements of income.
2. Information on impairment losses or goodwill on fixed assets by reporting segment
Not applicable.




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