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Fujikura's optical boom, FreeBit's delayed finish line
Fujikura just added ¥99bn to its profit guide; elsewhere, FreeBit still cannot close the books. Welcome to a morning where demand looks strong and governance less so.
lead
Demand that actually moved the numbers
Fujikura lifts outlook after surprise hyperscaler optical orders
Fujikura raised first-half operating profit guidance to ¥174bn from ¥92bn and full-year operating profit to ¥310bn from ¥211bn. The company tied the move to unexpected optical-component projects from hyperscalers, selling-price increases and a milder hydrogen shortage impact in its information and telecommunications business. The scale is hard to ignore: first-half sales guidance rose to ¥778bn from ¥594bn, while full-year revenue moved to ¥1.462tn from ¥1.243tn. Fujikura says pricing and the easing of hydrogen constraints should continue into the second half, though it did not say whether the surprise hyperscaler orders will recur at the same pace.
secondary
Earnings, ownership and balance-sheet reality
FreeBit raises sales and operating profit outlook, but CountUp investigation keeps final numbers open
FreeBit lifted full-year sales guidance to ¥62.5bn from ¥60.0bn and operating profit to ¥6.65bn from ¥6.1bn, citing stronger MVNO support, broader apartment internet services and higher affiliate transaction volumes. Ordinary profit and net income stayed at ¥5.77bn and ¥3.5bn because the CountUp investigation and audit are still ongoing, and the company said the financial statements will move to a later continued session after the July 23 shareholder meeting.
ENEOS trims JX Metals stake to 35.28% in ¥194.8bn self-tender sale
ENEOS said 57,274,900 JX Metals shares will be sold into the self-tender at ¥3,401 each, for gross proceeds of ¥194.8bn. Its stake falls to 35.28% from 42.38%, though the company notes the before-and-after percentages use different share-count bases.
Meiho heads for a loss after Resonagate goodwill write-down
Meiho now expects a ¥40mn net loss for the year ending June 2026, not the ¥200mn profit it guided before, after deciding to book about ¥280mn of goodwill impairment at Resonagate. Sales guidance stayed at ¥13.5bn, but operating profit was cut to ¥490mn from ¥540mn as management cited higher recruiting costs, weak pricing power in clerical staffing and slower demand as AI, RPA and BPO spread.
Midac says ROE still tops its capital cost, even as PBR slips
Midac says its cost of equity sits around 7% to 9%, while ROE for the year to March 2026 was 17.3%, down from 20.3% but still above both that range and its 15% target. PBR fell to 2.95 at year-end from 3.72 a year earlier, so management's answer is more growth investment, a higher dividend and heavier investor outreach, along with the warning that new facilities could pull ROE lower over time.
Urbanet's big Chiba apartment sale will not hit this year's numbers
Urbanet approved the sale of a 274-unit investment apartment in Funabashi, Chiba, in a deal it says exceeds the 10%-of-revenue disclosure threshold, but contract signing is planned for July 2026 and handover is not until March 31, 2028. That leaves current-year guidance unchanged because revenue recognition is slated for the year ending June 2028.
Komatsu sales edged up to ¥4.13tn, but profits slipped back
Komatsu's annual report shows revenue edging up to ¥4.13tn in the year to March 2026 from ¥4.10tn, while profit before tax fell to ¥537.26bn from ¥604.84bn and net income attributable to owners slipped to ¥376.39bn from ¥439.61bn. Total assets still reached ¥6.42tn and basic EPS came in at ¥413.90, but last year's profit level proved harder to repeat.
IDEC earnings rebound, with sales at ¥72.97bn and EPS at ¥131.22
IDEC reported sales of ¥72.97bn, operating income of ¥6.12bn and ordinary income of ¥6.57bn for the year to March 2026, up from ¥67.38bn, ¥3.65bn and ¥3.48bn a year earlier. Profit attributable to owners of parent rose to ¥3.87bn from ¥1.78bn, and EPS to ¥131.22 from ¥60.36.
Def consulting booked a ¥2.15bn loss on ¥854.1mn of sales
Def consulting reported ¥854.1mn in sales for the year to March 2026, but booked an ordinary loss of ¥2.15bn and a net loss of ¥2.15bn. Financing activities brought in ¥4.22bn while investing used ¥3.31bn, meaning the funding flows were far larger than the revenue line.
quick hits
Quick Hits
MaxValu Tokai to absorb deli-food unit by September
Read moreThe grocer will absorb wholly owned Delica Foods on Sept. 1, saying the move should tighten coordination between prepared-food production and its fresh and deli divisions. Delica Foods generated ¥4.995bn in revenue and ¥308mn in operating profit in the year ended February 2026, but MaxValu Tokai says the merger will not change consolidated earnings.
Frue completes Guangzhou subsidiary for China sales push
Read moreThe new China subsidiary was established on May 18 with 22 million yuan of capital, about ¥500mn, and is wholly owned by Frue. Its remit spans print sticker machines, character goods and image-based paid services, though management says the near-term earnings impact is minor.
Hirayama folds Top Engineering into its main manufacturing support unit
Read moreThe group will absorb Top Engineering into Hirayama on Jan. 1, 2027, with no merger ratio because both units are wholly owned. Management says the point is to combine manufacturing-floor improvement know-how with engineering capability and widen a higher-profit model.
Liberta extends ¥500mn bank line, keeping 75% equity and profit covenants
Read moreResona Bank extended the unsecured facility for one year from June 30, but Liberta still has to keep consolidated net assets at 75% or more of the prior-year level and avoid an operating loss. The filing does not disclose how much of the line is drawn.
Star Seas Digital replaces matured loan with ¥500mn borrowing at 9%
Read moreThe subsidiary borrowed ¥500mn from Teos at a fixed 9.0% annual rate on June 9, with lump-sum repayment due on Sept. 8. Star Seas says the loan should add ¥11.2mn of interest expense in the year ending February 2027.
Solekia to absorb wholly owned PC-kitting subsidiary on October 1
Read moreThe company will absorb wholly owned subsidiary SPZ on Oct. 1, saying changing customer needs and market conditions call for resource optimization and a rebuilt operating structure. No consideration is involved and Solekia says the earnings impact should be minor.
FALTEC swings to a net loss as sales and ordinary income fall
Read moreSales fell to ¥73.20bn from ¥79.11bn and ordinary income to ¥1.59bn from ¥2.86bn, while profit attributable to owners swung to a ¥837mn loss from a ¥328mn profit. The filing excerpt does not say why.
Wakamoto swings back to profit, but cash flow stays negative
Read moreSales rose to ¥9.91bn and ordinary income turned positive at ¥256.4mn, while net income reached ¥227.2mn. Operating cash flow was still negative at ¥486.9mn, even as the annual dividend rose to ¥3.50 a share.
Jelly Beans lands exclusive Japan rights for iHEAL, plans multi-channel rollout
Read moreA three-party deal with BIOLAB and AIDEN LAB JAPAN gives the group exclusive sales and marketing rights in Japan for the South Korean femcare brand, with full-scale sales planned for the second half of the year ending January 2027. Direct, wholesale and online channels are planned, but pricing and the final Japan lineup are still undisclosed.