MEC Company (4971) Q1 2026 earnings summary

Executive summary

• Q1 FYE12/2026 net sales reached 6,128 million yen, up 38.5% year-over-year, driven by strong demand in advanced semiconductor package substrates, generative AI-related products, and chemical sales.

• Operating income surged 90.2% year-over-year to 2,079 million yen, with operating profit margin improving by 9.2 ppt to 33.9%.

• Net income attributable to owners of parent increased 220.8% year-over-year to 1,528 million yen, reflecting higher sales and a rebound from prior year tax impacts.

• Comprehensive income reached 2,460 million yen, a significant turnaround from a loss of 216 million yen in the prior year period.

• Overseas sales ratio increased to 81.2%, reflecting strong international demand.

Financial highlights

• Gross profit rose to 3,980 million yen, with a gross profit margin of 65.0% in Q1 FYE12/2026.

• EBITDA for the quarter was 2,353 million yen, up 87.9% year-over-year.

• EPS increased to 83.69 yen for the quarter.

• SG&A expenses rose 14.9% to 1,900 million yen, mainly due to higher personnel and freight costs.

• Total assets grew to 37,955 million yen as of March 31, 2026, up 1,530 million yen from December 2025.

Outlook and guidance

• Full-year FYE12/2026 net sales forecast revised to 24,500 million yen, up 17.0% year-over-year.

• Operating income projected at 7,600 million yen, up 32.2% year-over-year.

• Net income forecasted at 5,550 million yen, up 10.4% year-over-year.

• Earnings per share forecasted at 303.93 yen for the full year.

• Dividend forecast revised to 110 yen per share for FY2026.