Strong demand for communications PCBs leads Meiko to record high revenue and profit

2025/05/14

MoneyDJ Financial News
May 14, 2025
Author MoneyDJ News Reporter Cai Chengqi

Sales of printed circuit boards (PCBs) for information and communications have soared. Meiko Electronics, a Japanese PCB manufacturer, achieved record-breaking revenue and profit last year. Although revenue and profit are expected to continue to increase this year, the stock price plummeted today because the financial forecast was lower than market expectations.

According to Yahoo Finance's quotes, as of 8:20 a.m. on the 14th, Taipei time, Meiko plunged 10.17% to 6,450 yen.

Meiko announced its financial report for the previous year (2024, April 2024-March 2025) after the Japanese stock market closed on the 13th: sales of PCBs for automobiles and smartphones shrank, but due to the surge in sales of PCBs for information communications centered on satellite communications, coupled with the increase in factory utilization (capacity utilization), the consolidated revenue increased by 15.2% year-on-year to 206.8 billion yen, the consolidated operating profit increased by 63.7% to 19.1 billion yen, and the consolidated net profit increased by 32.0% to 14.9 billion yen, and the revenue and profit (operating profit, net profit) set a record high.

In terms of product categories, Meiko's automotive PCB revenue decreased by 4.5% to 90.4 billion yen last year, smartphone PCB revenue decreased by 4.3% to 22.5 billion yen, information and communication PCB revenue soared by 393.5% to 22.7 billion yen, game consoles/smart home appliances/industrial machinery/other PCB revenue grew by 19.8% to 20.6 billion yen, IC substrate revenue increased by 42.9% to 1 billion yen, module substrate revenue increased by 57.6% to 13.4 billion yen, and electronic machinery business (EMS business) revenue increased by 19.5% to 36.2 billion yen.

Looking ahead to this year's performance (2025, April 2025-March 2026), Meiko said that although the yen is expected to appreciate and the tariff policy of the Trump administration in the United States may affect demand, due to the increase in demand for PCBs for automobiles and information communications, it is estimated that the consolidated revenue will grow by 3.0% to 213 billion yen, the consolidated operating profit is expected to grow by 4.8% to 20 billion yen, and the consolidated net profit is expected to increase by 3.9% year-on-year to 15.5 billion yen, and the revenue and profit will continue to set a new record high.

Meiko's above-mentioned financial forecast for this year is a trial value based on the premise of 1 US dollar to 140 yen (152.57 yen in the previous year).

According to a survey conducted in advance by financial intelligence service company QUICK, the market expects Meiko's operating profit and net profit this year to be 24.1 billion yen and 18.8 billion yen. The figures announced by Meiko are lower than market expectations.

Meiko estimates that this year's automotive PCB revenue will increase by 0.7% year-on-year to 91 billion yen, smartphone PCB revenue is expected to remain the same at 22.5 billion yen, information and communication PCB revenue will grow by 10.1% to 25 billion yen, game console/smart home appliances/industrial machinery/other PCB revenue will decrease by 0.5% year-on-year to 20.5 billion yen, IC substrate revenue will increase by 50.0% to 1.5 billion yen, module substrate revenue will increase by 0.7% year-on-year to 13.5 billion yen, and electronic equipment business revenue will grow by 7.7% to 39 billion yen.

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Creating Nano Technologies, Inc.
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