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Astris Advisory Japan

Japan Experts, Extraordinary Performance

Our Corporate Advisory service is designed to give clients access to a wider range of investors. These include Japan specialists as well as global investors. The goal is to help achieve a fair equity valuation.

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<ul><li>Slower recovery in Industrial Equipment – Semiconductors suffered lower segment OP margin (6.7% Q2 FY3/24, 3.4% Q2 FY3/25), reflecting weakness in Industrial Equipment, poor sales mix, acute yen appreciation and a margin dilutive impact from Glosel.</li><li>In addition, we believe the normalizing order size has eroded operating leverage.</li><li>Consequently, slower-than-expected recovery in Semiconductors led to a full-year guidance OP downgrade. </li></ul>

Slower recovery in Industrial Equipment – Semiconductors suffered lower segment OP margin (6.7% Q2 FY3/24, 3.4% Q2 FY3/25), reflecting weakness in Industrial Equipment, poor sales mix, acute yen appreciation and a margin dilutive impact from Glosel.In addition, we believe the normalizing order size has eroded operating leverage.Consequently, slower-than-expected recovery in Semiconductors led to a full-year guidance OP downgrade. 

Macnica Holdings (3132 JP) - Slower Recovery in Semiconductors than Expected

<ul><li>In line with the company’s plan –Semiconductors saw a lower segment OP margin (7.3% Q1 FY3/24, 4.0% Q1 FY3/25) with a revenue decline in profitable Industrial (-34.8 YoY) due to weakness in the semiconductor market.</li><li>Compared to the previous quarter, the segment OP margin declined (5.4% Q1 FY3/24, 4.0% Q1 FY3/25) with poorer sales due to a higher contribution from less-profitable Memory.</li><li>However, the revenue decline in Industrial was less pronounced (-2.7% QoQ), a sign of bottoming out. </li></ul>

In line with the company’s plan –Semiconductors saw a lower segment OP margin (7.3% Q1 FY3/24, 4.0% Q1 FY3/25) with a revenue decline in profitable Industrial (-34.8 YoY) due to weakness in the semiconductor market.Compared to the previous quarter, the segment OP margin declined (5.4% Q1 FY3/24, 4.0% Q1 FY3/25) with poorer sales due to a higher contribution from less-profitable Memory.However, the revenue decline in Industrial was less pronounced (-2.7% QoQ), a sign of bottoming out. 

Macnica Holdings (3132 JP) - Q1 FY25 Results Update

Japan

Macnica Holdings, Inc. operates as a holding company of Macnica Inc. and Fuji Electronics Co Ltd. The Company imports, exports, and distributes electronic components such as semiconductor devices and ICs. Macnica Holdings conducts businesses in Japan.

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Macnica Holdings Inc (3132 JP)

Macnica Holdings (3132 JP) - Slower Recovery in Semiconductors than Expected

Semiconductors suffered lower segment OP margin (6.7% Q2 FY3/24, 3.4% Q2 FY3/25), reflecting weakness in Industrial Equipment

Astris Advisory Japan

Macnica Holdings (3132 JP) - Q1 FY25 Results Update

Compared to the previous quarter, the segment OP margin declined (5.4% Q1 FY3/24, 4.0% Q1 FY3/25) with poorer sales due to a higher contribution...

Astris Advisory Japan

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