FY2025 Second Quarter Financial Results November 7, 2025 MARUWA Co., LTD.（5344）
Disclaimer
This material is not aimed at recommending any investment.
There are forward-looking statements based on current assumptions. Actual results may differ by changes of the environment.
FY2025 1H(Apr.~Sep.) Increase/Decrease from last year | FY2024 1H(Apr.~Sep.) | ||
Net sales | 33,115 | △4.9% | 34,822 |
Operating profit | 10,843 | △15.2% | 12,789 |
Ordinary profit | 11,123 | △7.4% | 11,999 |
Net profit | 7,413 | △13.9% | 8,440 |
（Unit: Million; Currency: YEN）
In 2Q, weaker market conditions were observed in the automobile- and semiconductor-related businesses. However, a recovery trend is expected toward 3Q.
Orders remain strong and are expected to strengthen further with the full-scale launch of the successor model for next-generation high-speed communication, leading to record-high quarterly results in the fourth quarter.
30,000
FY23 FY24 FY25
Next-generation
50%
25,000
20,000
high-speed communication expanding
40%
Market recovery toward 3Q
15,000
10,000
5,000
ec
30%
20%
10%
0
FY23 1Q 2Q 3Q 4Q FY24 1Q 2Q 3Q 4Q FY25 1Q 2Q0%
3Q 4QNet sales | 12,722 | 15,341 | 16,962 | 16,537 | 16,243 | 18,579 | 18,319 | 18,708 | 17,256 | 15,859 | 19,100 | 22,900 |
Operating profit | 3,530 | 5,118 | 5,744 | 5,408 | 5,640 | 7,148 | 6,944 | 7,179 | 6,002 | 4,841 | 6,500 | 9,700 |
Operating profit (%) | 27.7% | 33.4% | 33.9% | 32.7% | 34.7% | 38.5% | 37.9% | 38.4% | 34.8% | 30.5% | 34.0% | 42.4% |
（Unit: Million; Currency: YEN）
- Sales amount by market
- By market
11.9%
12.4% 40.0% 15.1% 20.5%FY2024 1H
Tele-communication：Business related to next-generation high-speed communication expanded. Automobile：Inventory adjustments were observed on the customer side, especially for new energy vehicles. Recovery expected in 3Q. Semiconductor：Strong demand for generative AI, but weakness in general-purpose memory due to market conditions. | |||
FY2025 1H(2Q) YoY | FY2024 1H | ||
Telecommunication | 143(70) | ＋8.3% | 132 |
Automobile | 62(27) | △17.3% | 75 |
Semiconductor | 44(22) | △17.0% | 53 |
Industrial equipment | 42(20) | △12.5% | 48 |
Lighting | 42(22) | ＋2.4% | 41 |
FY2025 1H
12.6%
12.6% 13.2% 18.6% 42.9%※ The above figures are preliminary. Amounts are rounded to the nearest 100 million. （Unit: 100 million; Currency: YEN）
Full Year YoY | 2H YoY | |||
Net sales | 75,100 | ＋4.5% | 41,985 | ＋13.4% |
Operating Profit | 27,000 | ＋0.3% | 16,157 | ＋14.4% |
Operating Profit % | 36.0% | - | 38.2% | - |
（Unit: Million; Currency: YEN）
In 2H, growth is expected to accelerate, and we anticipate increases in both revenue and profit for the full fiscal year.
The automobile- and semiconductor-related businesses are entering a recovery phase, while the telecommunication-related business is projected to see a significant increase in production for next-generation high-speed communication, supported by the full-scale launch of a successor model.
For the full year, we expect year-on-year growth of +4.5% （Initial forecast ⇒Current forecast） Telecommunication: +10% → +18% Automobile: +7% → △14% Semiconductor: +8% → +1%
※Exchange assumption: 1 dollar = 144 yen