Maruichi Steel Tube hits daily limit high with double-digit operating profit growth forecast for March 2027 and 6 million share buyback announcement

Maruichi Steel Tube Ltd. <5463> attracted concentrated Retail Investor interest, locked at the daily limit high of 300 yen. The company is Japan's top manufacturer of welded steel pipes primarily serving the construction industry. With overseas sales accounting for nearly 50% of total revenue, it holds one of the world's leading positions in the sector.

In an announcement released after trading closed on the 13th, the company reported operating profit of 32.043 billion yen for the fiscal year ended March 2026, up 40% year-on-year. For the fiscal year ending March 2027, Maruichi Steel Tube projects operating profit of 36.9 billion yen, up 15% year-on-year, continuing double-digit growth and marking the first record high in five years. The company is benefiting from increased business opportunities related to AI data centers, with earnings contributions expected from BA tubes used in semiconductor production equipment. The company plans an annual dividend of 52 yen for the current fiscal year, a substantial increase when adjusted for the 3-for-1 stock split. Furthermore, the company announced a share buyback of up to 6 million shares, or 2.71% of shares outstanding, for a maximum of 10 billion yen, which served as a powerful catalyst.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.