Macnica Holdings, the Tokyo-listed chip and cybersecurity distributor, posted first-quarter operating profit of ¥16.5bn for the three months to June 2026, more than double the ¥8.2bn it made a year earlier. Net sales rose 39.7% to ¥393.4bn, and net profit attributable to shareholders climbed 114.6% to ¥10.9bn. Comprehensive income, which folds in currency-translation gains, jumped 234.7% to ¥14.9bn, a sharp reversal from the 72.6% decline recorded in the same quarter a year earlier.
Despite that swing, Macnica made no change to the full-year forecast it set in May: sales of ¥1.3tn, operating profit of ¥52.0bn and net profit of ¥32.0bn for the year to March 2027. Management said its semiconductor business still faces an unpredictable outlook from memory shortages and lengthening chip delivery times, even as AI-driven demand lifts the wider market.
| Segment | Q1 Sales | Sales YoY | Operating Profit/Loss | Profit YoY |
|---|---|---|---|---|
| Semiconductor | ¥334.9bn | +40.3% | ¥13.7bn | +133.0% |
| Cybersecurity | ¥56.7bn | +36.1% | ¥5.4bn | +28.0% |
| CPS Solutions | ¥1.8bn | +32.2% | Loss of ¥2.6bn | Loss widened from ¥1.9bn |
| Group total | ¥393.4bn | +39.7% | ¥16.5bn | +101.4% |
AI servers and chip-testing gear power the core business
Semiconductors remain Macnica's largest business by far. Sales rose 40.3% to ¥334.9bn and operating profit more than doubled, up 133.0% to ¥13.7bn, as chipmakers poured capital into equipment for building and testing chips destined for generative-AI servers, and Japan's industrial-machinery market kept recovering. Automotive customers continued ordering advanced control systems tied to safety and automation features. Within the segment, memory-chip sales more than doubled, up 106.9%, and analogue-chip sales rose 74.9%, the two fastest-growing product lines.
Cybersecurity keeps climbing on endpoint and cloud-security demand
Cybersecurity sales grew 36.1% to ¥56.7bn and operating profit rose 28.0% to ¥5.4bn, driven by endpoint-security products, attack-surface-management tools and SASE network-security offerings, plus continued expansion of the company's Singapore-anchored Asia-Pacific security business. A string of high-profile ransomware and supply-chain attacks in Japan has pushed corporate security budgets higher, the company said, and that spending has not let up.
The autonomous-bus bet stays stuck in low gear
The newest reporting line, CPS Solutions, was split out this quarter to track Macnica's smart-city, smart-manufacturing and autonomous-mobility bets. It was the weak spot: sales rose 32.2% to ¥1.8bn, but the operating loss widened to ¥2.6bn from ¥1.9bn a year earlier. Macnica's autonomous EV bus, EVO, won approval in March to run on public roads in Hitachiota, Ibaraki Prefecture, at Level 4 autonomy, and its French subsidiary Navya Mobility is expanding production. But local-government customers keep delaying purchase decisions amid stricter regulatory safety reviews, a slowdown running since last fiscal year, while euro-denominated costs booked ahead of matching sales added to the drag.
Macnica's dividend forecast for the year is unchanged at ¥80 per share, split evenly between interim and year-end payments, up from the ¥70 actually paid for the year to March 2026. The full-year plan still assumes an exchange rate of ¥150 to the dollar and does not factor in any disruption from Middle East tensions or oil-price swings, which the company said it cannot yet quantify.