Miraial Co., Ltd., the Tokyo Stock Exchange-listed plastics molder, reported sales of ¥7.98bn for the six months to July 2026, up 25.9% from a year earlier, with adjusted operating profit jumping 91.7% to ¥640mn and net profit attributable to owners climbing 52.0% to ¥431.1mn. The company attributes the surge to plastic components tied to generative-AI data-center investment, which lifted demand for advanced-semiconductor parts, plus a recovery in general-purpose product demand as customer inventory adjustments worked through.
That growth sits alongside a materially different balance sheet. Miraial completed the acquisition of a marine-navigation instrument maker on April 30, 2026, consolidating the company and its two subsidiaries and adding ¥826.7mn of goodwill, ¥2.02bn of current assets and ¥1.53bn of fixed assets. To fund the deal, Miraial arranged a ¥1.9bn syndicated loan on June 9, 2026, maturing April 2036, carrying net-asset and profit-maintenance covenants: consolidated net assets must stay at 75% or more of the higher of the prior or the January 2026 fiscal year-end level, and the company must not post two consecutive years of ordinary losses from the year ending January 2027 onward. Total assets rose to ¥31.49bn from ¥26.83bn at the prior fiscal year-end, while the equity ratio fell to 71.3% from 85.7%.
| Metric | Feb-Jul 2025 | Feb-Jul 2026 | Change |
|---|---|---|---|
| Net sales | ¥6.34bn | ¥7.98bn | +25.9% |
| Adjusted operating profit | ¥334mn | ¥640mn | +91.7% |
| Ordinary profit | ¥362.1mn | ¥560.8mn | +54.9% |
| Net profit (parent) | ¥283.7mn | ¥431.1mn | +52.0% |
| Equity ratio | 85.4% | 71.3% | - |
Two one-off items shaped the half but sit apart from ongoing operations. A magnitude earthquake in Kumamoto on July 28 cost Miraial ¥41.5mn, covering damaged inventory, a 1.5-day production stoppage and equipment repairs. Separately, the company booked a ¥158.5mn gain from selling part of its policy-held shares as part of an asset-efficiency push.
By segment, plastics molding, the core business serving semiconductor and other industrial customers, generated sales of ¥7.36bn, up 29.7%, with operating profit of ¥967.6mn, up 60.6%. The smaller molding-machine segment, facing a slowdown in the auto industry's shift to EVs, grew sales just 1.5% to ¥774.8mn while operating profit rose 18.1% to ¥85.9mn on better margins.
Miraial also moved on shareholder returns during the half: it repurchased 268,700 shares for ¥499.9mn and cancelled 1,010,000 treasury shares on June 8, 2026. The board declared an interim dividend of ¥30 per share, totaling ¥263.4mn, payable from October 5, 2026. Cash and equivalents rose ¥957mn to ¥5.66bn over the half, helped by operating cash flow of ¥2.21bn.
The purchase-price allocation for the acquisition remains provisional, meaning the goodwill figure and related asset values could still shift once Miraial completes its valuation work.