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Meiko Electronics, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 11%, Raises Record High Profit Forecast, Dividend Revised Upward by 25 Yen
6787 Meiko Electronics Co., Ltd. 【J-GAAP】
Earnings ReportMeiko Electronics Co., Ltd. <6787> [TSE Prime] announced its financial results after the market closed on February 6th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 18.4% from the same period last year, reaching 18.8 billion yen.
In addition, the full-year forecast for consolidated ordinary profit has been revised upward 11.4%, from the previous forecast of 22.0 billion yen to 24.5 billion yen (compared to 18.7 billion yen in the previous period), increasing the growth rate from 17.3% to 30.6%, further surpassing the previous forecast of record-high profits for two consecutive terms.
Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) is expected to increase 23.5%, from the previous forecast of 10.6 billion yen to 13.1 billion yen (compared to 10.7 billion yen in the same period of the previous year), turning to a 22.1% increase in the consolidated ordinary profit outlook.
In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 90 yen to 115 yen (compared to 88 yen in the previous period).
In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 7.53 billion yen, a 5.2% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 10.0% in the same period last year to 10.1%.
Kabutan News
Actual Results
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Progress Rate vs. First Half | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Apr - Dec, 2023 | 133,534 | 8,338 | 9,779 | 7,680 | 290.3 | 68.5 | Feb 6, 2024 | J-GAAP |
| Apr - Dec, 2024 | 151,757 | 14,648 | 15,953 | 12,560 | 480.4 | 85.0 | Feb 6, 2025 | J-GAAP |
| Apr - Dec, 2025 | 172,033 | 17,503 | 18,893 | 14,778 | 566.7 | 77.1 | Feb 6, 2026 | J-GAAP |
| YoY | +13.4% | +19.5% | +18.4% | +17.7% | +18.0% |
Guidance Update
Second Half Update
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Oct - Mar, 2025 Prev | 111,507 | 12,082 | 10,640 | 8,605 | 329.4 | 45 | Nov 6, 2025 | J-GAAP |
| Oct - Mar, 2025 New | 123,507 | 13,582 | 13,140 | 10,605 | 406.7 | 70 | Feb 6, 2026 | J-GAAP |
| Revision Rate | +10.8% | +12.4% | +23.5% | +23.2% | +23.5% |
Full Year Update
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Mar, 2026 Prev | 223,000 | 23,500 | 22,000 | 18,000 | 689.1 | 90 | Aug 6, 2025 | J-GAAP |
| Mar, 2026 New | 235,000 | 25,000 | 24,500 | 20,000 | 767.0 | 115 | Feb 6, 2026 | J-GAAP |
| Revision Rate | +5.4% | +6.4% | +11.4% | +11.1% | +11.3% |
Current Period Guidance
Second Half Results
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Oct - Mar, 2024 | 108,649 | 9,796 | 10,758 | 8,591 | 327.8 | 48 | May 13, 2025 | J-GAAP |
| Oct - Mar, 2025 Guidance | 123,507 | 13,582 | 13,140 | 10,605 | 406.7 | 70 | Feb 6, 2026 | J-GAAP |
| YoY | +13.7% | +38.6% | +22.1% | +23.4% | +24.1% |
Current Period Guidance
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Mar, 2024 | 179,458 | 11,660 | 14,267 | 11,310 | 428.7 | 68 | May 10, 2024 | J-GAAP |
| Mar, 2025 | 206,806 | 19,083 | 18,763 | 14,924 | 569.5 | 88 | May 13, 2025 | J-GAAP |
| Mar, 2026 Guidance | 235,000 | 25,000 | 24,500 | 20,000 | 767.0 | 115 | Feb 6, 2026 | J-GAAP |
| YoY | +13.6% | +31.0% | +30.6% | +34.0% | +34.7% |
Quarterly Results
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Operating Profit Margin | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Oct - Dec, 2024 | 53,600 | 5,361 | 7,948 | 6,227 | 238.2 | 10.0 | Feb 6, 2025 | J-GAAP |
| Jan - Mar, 2025 | 55,049 | 4,435 | 2,810 | 2,364 | 90.2 | 8.1 | May 13, 2025 | J-GAAP |
| Apr - Jun, 2025 | 53,072 | 5,585 | 4,935 | 3,772 | 144.0 | 10.5 | Aug 6, 2025 | J-GAAP |
| Jul - Sep, 2025 | 58,421 | 5,833 | 6,425 | 5,623 | 215.5 | 10.0 | Nov 6, 2025 | J-GAAP |
| Oct - Dec, 2025 | 60,540 | 6,085 | 7,533 | 5,383 | 206.4 | 10.1 | Feb 6, 2026 | J-GAAP |
| YoY | +12.9% | +13.5% | -5.2% | -13.6% | -13.3% |
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