Speed and technology win orders
JMACS Co., Ltd. (TSE: 5817) reported non-consolidated results for the first half of FY2/2027, March 1 to August 31, 2026, on October 15, 2026 under Japanese GAAP. Net sales rose 24.0% to ¥3,543 million, operating profit 105.2% to ¥500 million and ordinary profit 97.4% to ¥516 million. Net profit rose 106.9% to ¥378 million, or ¥67.24 per share against ¥32.50. The company, which operates as a single electric-wire business, said its strength in fast, short-lead-time delivery let it capture a sharp rise in demand from the semiconductor industry as well as replacement demand for plant and railway-signal cabling. It warned that prices and supply of crude-oil-derived materials remain a concern because of the situation in Iran, and said it will keep pushing plant projects and factory-automation and instrumentation cables.
Working capital absorbs cash
Total assets rose 3.6% to ¥10,657 million and net assets 5.5% to ¥5,965 million, lifting the equity ratio to 56.0% from 55.0%. Growth tied up cash: receivables rose by about ¥591 million and raw materials by about ¥289 million, so operating activities used ¥608 million, against ¥24 million a year earlier. Cash and equivalents fell ¥791 million to ¥1,426 million, partly because ¥200 million was placed in time deposits, while short-term borrowings rose ¥200 million.
Forecast raised
Citing first-half results and its outlook, the company raised the FY2/2027 forecast it had issued on April 14. It now expects net sales of ¥7,000 million (+16.1%), operating profit of ¥691 million (+37.8%), ordinary profit of ¥745 million (+37.0%) and net profit of ¥518 million (+29.3%), or ¥92.08 per share. The year-end dividend forecast is unchanged at ¥15, the same as last year.
| Metric | H1 FY2/2027 | H1 FY2/2026 | Change |
|---|---|---|---|
| Net sales (¥ million) | 3,543 | 2,858 | +24.0% |
| Operating profit (¥ million) | 500 | 244 | +105.2% |
| Ordinary profit (¥ million) | 516 | 261 | +97.4% |
| Net profit (¥ million) | 378 | 182 | +106.9% |
| EPS (¥) | 67.24 | 32.50 | +106.9% |
| Total assets (¥ million) | 10,657 | 10,284 | +3.6% |
| Net assets (¥ million) | 5,965 | 5,653 | +5.5% |
| Equity ratio | 56.0% | 55.0% | +1.0 pt |
| FY2/2027 guidance — revenue (¥ million) | 7,000 | — | +16.1% |
| FY2/2027 guidance — operating profit (¥ million) | 691 | — | +37.8% |
| FY2/2027 guidance — ordinary profit (¥ million) | 745 | — | +37.0% |
| FY2/2027 guidance — net profit (¥ million) | 518 | — | +29.3% |
| Annual dividend per share (¥) | 15.00 | 15.00 | unchanged |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.