Latest Results
Latest Financial Announcements
Financial Announcements for the Current Term
Trends in the Past Three Fiscal Years and the Current Fiscal Year
23/3 | 24/3 | 25/3 | 26/3* | ||
---|---|---|---|---|---|
Net sales (million yen) |
FY | 77,962 | 76,895 | 82,884 | 84,000 |
1Q | 18,926 | 18,181 | 20,877 | 21,004 | |
Operating profit (million yen) |
FY | 4,739 | 1,617 | 4,226 | 3,000 |
1Q | 1,087 | (258) | 1,056 | 734 | |
Ordinary profit (million yen) |
FY | 5,675 | 3,710 | 3,926 | 2,150 |
1Q | 3,057 | 1,156 | 2,017 | 311 | |
Profit attributable to owners of parent (million yen) |
FY | 3,147 | 1,511 | 2,227 | 1,600 |
1Q | 2,031 | 828 | 1,728 | 320 | |
Basic earnings per share (yen) |
FY | 135.01 | 64.86 | 95.58 | 68.64 |
1Q | 87.16 | 35.53 | 74.17 | 13.73 |
*Numbers for the full year of the term ending March 2026 are forecasts announced on August 6, 2025.
Overview of The Consolidated Financial Results for the Three Months Ended June 30, 2025
Net sales in the three months ended June 30, 2025 under review amounted to ¥21,004 million, an increase of 0.6% year-on-year, reflecting increased year-on-year sales in the CTC and Incubation Center segments, in spite of decreased year-on-year sales of the VCCS and FC/MD segments. Operating profit came in at ¥734 million, a decrease of 30.5% year-on-year, due to the recording of business restructuring cost in the VCCS segment, a profit decrease in the CTC segment attributable to a decline in the ratio of high margin products, and a profit decrease in FC/MD segment due to deterioration in the business mix. Ordinary profit decreased by 84.6% year-on-year to ¥311 million, reflecting exchange loss of ¥452 million due to the strengthening of the yen, and a decreased operating profit. Profit attributable to owners of the parent was ¥320 million (down 81.5% year-on-year), due to a significant increase in the tax rate, despite the recording of extraordinary income of ¥310 million including gain on bargain purchase associated with the succession of the network solution businesses of KOHA Co., Ltd. (simplified KOHA).
The average exchange rate for the three months ended June 30, 2025 was ¥144.59 against the US dollar (¥155.79 in the previous fiscal year), while the closing rate was ¥144.81 against the US dollar (¥149.52 in the end of the previous fiscal year).
Overview of Financial Results for Each Segments and Explanation of Consolidated Results Forecast
VCCS (Core product: Antenna for Vehicle)
In the automotive market, the main market for this segment, sales are on a moderate recovery trend overall. However, in the United State, concerns over the impact of the US tariff policy led to a surge in rush demand, followed by a decline in June as a reaction to this surge. As such the sales environment has changed rapidly. A breakdown of region shows that the number of units sold in China increased, while sales in the United States and Japan were flat.
In these circumstances, sales of mainstay products for automobile manufacturers, such as shark fin antennas and GPS antennas, decreased year-on-year because of a decrease in net sales in the overseas market due to the strengthening of the yen.
As a result, net sales for this segment decreased to ¥13,615 million (down 5.7% year-on-year). The segment reported the profit of ¥615 million (down 5.9% year-on-year), due to decreased profit associated with a decrease in sales, rising wage rates at production bases, and the recording of business restructuring cost in production base in China, in spite of increased production efficiency through stable receipt of orders and lower costs in production bases in China, Vietnam and Philippines.
CTC (Core Product: Semiconductor Testing Socket and Probe Card)
In the semiconductor testing market, the main market for this segment, overall demand was on a moderate recovery trend year on year. This was driven by growing demand related to generative AI and an upward trend in the PC market fueled by replacement demand, despite demand for smartphones remaining at the same level as the previous fiscal year.
In these circumstances, sales of jigs for semiconductor back-end testing, the mainstay product of the Group, increased year-on-year, due to an increase in orders for edge AI related testing sockets in spite of the trend of orders for testing sockets still remaining at a low level. Sales of jigs for semiconductor front-end testing increased year-on-year because of an increase in sales of turnkey business which offers one-stop solutions services including peripheral devices and growth in sales of MEMS probe cards (YPX) for high frequency electronics components testing.
As a result, sales for this segment increased year-on-year to ¥4,372 million (up 21.2% year-on-year). The segment reported a profit of ¥219 million (down 42.0% year-on-year), due to deterioration in product mix caused by a decline in the ratio of relatively high profit margin products in addition to increased costs caused by higher raw material prices and increased labor costs.
FC (Core Product: Fine spring connector for electronics) ・MD (Core Product: Medical devices and units)
The MaaS/IoT market, the main market for this segment, is expected to grow steadily, reflecting the advance of mobility including car sharing, and the widespread adoption of IoT connecting everything through the Internet.
In these circumstances, Platform business has made progress in expanding sales of MIMO antennas utilizing smart antenna technologies for IoT, and vehicle key management solutions for MaaS and rental cars. Also, the network solution businesses of KOHA which we succeeded with an effective date of June 1, 2025, is categorized in this segment.
As a result, sales for this segment increased year-on-year, to ¥347 million (up 299.2% year-on-year). The segment reported a loss of ¥200 million (a loss of ¥205 million in the previous fiscal year), because the segment involves up-front investment.
Incubation Center (Core Product: Antenna and providing solutions for MaaS/IoT)
The Company has been engaged in full-scale business development efforts, aiming to create new businesses and innovate business models for new growth markets such as MaaS, and IoT as well as the optical communication market for higher-speed and larger-capacity communication. The MaaS/IoT market, which is a key market for this segment, is expected to grow steadily, reflecting the advance of mobility including car sharing, and the widespread adoption of IoT connecting everything through the Internet.
In these circumstances, Platform business has made progress in expanding sales of MIMO antennas utilizing smart antenna technologies for IoT, and vehicle key management solutions for MaaS and rental cars.
For Advanced Device business, which included the segment, the Company had developed systems for the mass production of optical connector products utilizing photoelectric conversion device technologies for the optical communications market. However, the Company disbanded developmentally this business in the second quarter as a photoelectric conversion project for the semiconductor testing market.
As a result, sales for this segment decreased year-on-year, to ¥271 million (down 21.7% year-on-year). The segment reported a loss of ¥886 million (a loss of ¥811 million in the previous fiscal year), because the segment, which is in the early stages of its development, generates sales at a small scale and involves up-front investment.
Future Outlook
Our assumption for the result forecast for the fiscal year ending March 31, 2026 is based on an assumed exchange rate of ¥140 against the US dollar, which is approximately ¥12 stronger than the average exchange rate for the fiscal year ended March 2025 (¥152.60 against the US dollar). Based on this, our forecast for net sales and profits for the first half and the full year is as shown in the table below.
① Forecasts for the first six months of the fiscal year (first half)
Our forecast for net sales for the first half is as shown in the table below based on the result of the three months ended June 30, 2025 and the latest order forecast.
Our forecast for operating profit for the first half is as shown in the table below. This reflects an expected year-on-year decline in profit in the CTC segment due to a deterioration in the product mix, as well as reduced profit resulting from the assumed exchange rate, which reflects a stronger yen. While we are generally working to pass on the increased tariff burden stemming from U.S. tariff policy to selling prices, some indirect impacts, such as expenses related to changes in physical distribution have been factored into the forecast.
Our forecasts for ordinary profit and profit attributable to owners of parent are as shown in the table below, which incorporate a foreign exchange loss of ¥850 million based on an assumed exchange rate of ¥140 against the US dollar.
② Full-year forecasts
Our forecast for net sales for the full-year is as shown in the table below based on anticipating decreased sales in all segments except for the Incubation Center resulting from the assumed exchange rate, which reflects a stronger yen. However, we expect an increase in orders related to generated AI and high-frequency electronic components in the CTC segment, and an increase in sales in the Incubation Center segment due to the succession of the network solution businesses of KOHA.
Our forecast for operating profit for the full year is as shown in the table below for the same reasons as the first half of the fiscal year. However, from the second half of the fiscal year, we expect an increase in profit due to an increase in orders and an improvement in the product mix compared to the first half of the fiscal year in the CTC segment. In addition, we expect a slight improvement in profit due to a change in orders and one time expenses after the transfer in the network solution business in the Incubation Center segment.
Our forecasts for ordinary profit and profit attributable to owners of parent are as shown in the table below, which incorporate the assumption that no foreign exchange gains or losses will occur in the second half based on the assumed exchange rate of ¥140 against the US dollar.