Source disclosure: February 12, 2026
KAGA ELECTRONICS CO.,LTD. [8154.T]
TOKYO, March 12, 2026 (Reuters) - Kaga Electronics Co., Ltd. (Code No.: 8154, Tokyo Stock Exchange Prime Market), announced today that its board of directors has approved upward revisions to the company's full-year consolidated earnings forecast and an increase in dividend expectations for the fiscal year ending March 31, 2026.
The company previously released its initial forecasts on November 6, 2025. The revised figures show an improved outlook across several key metrics. For the fiscal year from April 1, 2025, to March 31, 2026, Kaga Electronics now projects consolidated sales of 62 billion yen, up from the earlier estimate of 59.5 billion yen. Operating income is expected to rise to 2.7 billion yen from 2.55 billion yen, while ordinary income will be adjusted upwards to 2.8 billion yen from 2.55 billion yen. Net income attributable to shareholders of the parent company is projected to reach 2.85 billion yen, compared to the previous expectation of 2.6 billion yen. This represents an increase of 50.46 yen per share, raising the total to 575.24 yen per share, marking growth rates of 4.2%, 5.9%, 9.8%, and 9.6% respectively over the prior estimates.
Kaga Electronics attributes these positive adjustments primarily to strong performance in its electronic components and information equipment businesses, which have outperformed internal projections throughout the third quarter. Additionally, the company has received unexpected orders for certain semiconductor products due to tight supply conditions, contributing further to the upward revision. The company also anticipates favorable developments in non-operating gains, including foreign exchange gains, as well as additional investment income from the sale of securities.
In terms of dividends, Kaga Electronics plans to raise its annual payout by 20 yen per share to a total of 130 yen per share. Specifically, the second interim dividend will remain unchanged at 60 yen per share, but the final dividend will be increased to 70 yen per share, up from the original projection of 60 yen per share. This adjustment reflects the company’s commitment to maintaining robust shareholder returns within the framework of its mid-term business plan through active distribution of cash flows generated from operations.
Furthermore, Kaga Electronics provided additional context regarding its capital efficiency and shareholder return metrics. The revised forecasts indicate a Return on Equity (ROE) of 22.6 percent, a Dividend Payout Ratio (DPR) of 4.2 percent, and a Dividend Yield (DY) of 16.5 percent, all exceeding targets set forth in their "Mid-Term Business Plan 2027." These improvements underscore the company's strategic focus on balancing growth investments with enhanced returns to shareholders.
Notably, the revised forecasts incorporate approximately 7.6 billion yen in negative goodwill arising from the acquisition of Kyoryu Industry Co., Ltd. in July last year. After adjusting for this non-cash item, the DPR stands at 30.8 percent, aligning closely with the company’s stated target range of 30-40 percent. Similarly, the DY remains steady at 4.3 percent, reflecting consistent efforts towards sustainable dividend policies. Moreover, considering the repurchase and cancellation of treasury shares worth 14.4 billion yen conducted in August last year, the overall Total Shareholder Return (TSR) is calculated at 72.4 percent, indicating effective management of capital resources.
These revisions highlight Kaga Electronics' confidence in its
Note: Financial figures from the earnings presentation have been removed pending correction. For accurate figures, refer to the company's earnings summary (kessan tanshin) filed separately on TDNet.
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