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Miraial gains momentum in afternoon trading on upward revision for Feb-Apr and share buyback of up to 5.5%
Miraial Co.,Ltd. <4238> gained momentum in afternoon trading to briefly turn positive. The company announced around 2:30 p.m. that its consolidated results for the first quarter (February-April) of the fiscal year ending January 2027 beat its previous forecasts, with sales tracking at 3.9 billion yen (up 25.6% year-on-year) against the prior estimate of 3.78 billion yen, and operating profit rising to 230 million yen (up 2.1-fold year-on-year) from 190 million yen. Simultaneously, the company announced a share buyback program capped at 500,000 shares (approximately 5.5% of outstanding shares excluding treasury stock) or 500 million yen, supporting the stock.
During the February-April quarter, product shipments in the plastic molding business increased amid a semiconductor market recovery. Profit margins improved on higher factory utilization rates and fixed-cost reductions. The buyback will be executed through open-market purchases on the Tokyo Stock Exchange from June 8 to Jan. 31, 2027. Miraial will also cancel 1.01 million treasury shares effective June 8.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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