TOKYO, Jun 12 (Pulse News Wire) – Mitsui High-tec,inc. (6966.T) reported strong first quarter results for the fiscal year ending January 2027, driven by robust sales growth across its key segments despite rising costs.
Revenue reached ¥61.89 billion (up 13.2% year-over-year and 11.8% sequentially), while operating profit stood at ¥4.433 billion (up 27.8% year-over-year and 29.6% sequentially). The electric components division saw significant revenue increases due to higher demand for hybrid vehicle parts, contributing to overall growth. Similarly, electronic components benefited from customer inventory build-ups and favorable exchange rates, leading to increased sales and profitability. However, lagging price adjustments for precious metal cost increases impacted margins negatively.
Looking ahead, the company expects continued strong performance in the second quarter, particularly in the electric components and electronics divisions. Despite anticipated cost pressures from Middle East geopolitical issues affecting raw materials prices and additional expenses, the firm forecasts overall positive trends. Full-year projections have been revised upward to reflect improved expectations, with projected revenues reaching ¥254.0 billion (up 16.3%), operating profits at ¥14.50 billion (up 14.6%), and net income at ¥10.00 billion (up 217.3%). For the remainder of the fiscal year, Mitsui High-tec anticipates challenges such as increased investment costs and potential currency fluctuations but remains optimistic about achieving its revised targets.
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