MARUWA raised its full-year forecast for the second time this year, lifting expected sales to ¥101.5bn and operating profit to ¥38.3bn for the year ending March 2027. The ceramic-components maker said it sees strong demand into the second half.
What moved
The revision, set out in a notice on forecast changes dated October 27, 2026, amends the forecast published on July 29, 2026. Sales guidance rises by ¥8.2bn from ¥93.3bn, or 8.8%, and operating profit guidance by ¥4.6bn from ¥33.7bn, or 13.6%. Net profit attributable to owners of the parent is now forecast at ¥26.0bn, or ¥2,106.86 a share. The notice gives no prior figures for ordinary or net profit.
For reference, the notice lists the year to March 2026 at ¥74.48bn in sales and ¥24.98bn in operating profit.
| Item | July forecast | October forecast | Change |
|---|---|---|---|
| Sales | ¥93.3bn | ¥101.5bn | +8.8% |
| Operating profit | ¥33.7bn | ¥38.3bn | +13.6% |
| Net profit | Not stated | ¥26.0bn | Not stated |
Demand and plants
MARUWA cites three drivers: strong demand for next-generation high-speed communications, growth in differentiated products for new-energy vehicles, and steady general-purpose memory demand. The interim results statement adds that the information and communications business expects strong demand for the next models in next-generation high-speed communications. It says the company will also accelerate investment in new technology and production.
Production is the other half of the story. From the second half, the company plans to bring a new building at its Seto plant (communications) and one at its Toki plant (automotive) into operation to raise output. These starts are planned, not completed. A new building at the Miharu plant for semiconductor products began operating in the second quarter, according to the results statement.
The new plants carry a cost. The results statement says investment to expand the business, including new-factory start-ups, is expected. It says the company aims to improve profitability further through productivity gains.
The half just closed
For the six months to September 30, 2026, sales rose 41.7% to ¥46.92bn and operating profit rose 62.4% to ¥17.61bn, both records. Both beat the company's July forecasts of ¥42.2bn in sales and ¥14.8bn in operating profit, by 11.2% and 19.0% respectively. The company attributes the beat to the same communications, memory and new-energy-vehicle demand.
The forecast assumes an exchange rate of ¥158 to the dollar. That is the company's planning assumption, not a market quotation. The notice also cautions that actual results may differ from forward-looking statements.
For earlier reporting, see Earlier Tokyo Brief coverage.