Hirose Electric announces strong FY2024 results, outlines growth strategy

Hirose Electric announced its FY2024 business results, showcasing a substantial year-over-year increase, with sales rising 14.4% to JPY1,894.2 hundred million and operating profit climbing 25.4% to JPY426.7 hundred million. The company attributes this success to the recovery in the consumer/mobile equipment sector and strong performance in the smartphone market, along with a sustained high level of activity in the automotive/mobility-related sector. Furthermore, the company has released plans to acquire treasury shares up to a total of JPY60 billion over the four-year period from FY2025 to FY2028 to improve capital efficiency, in addition to the annual sales forecast by segment. Hirose has established a mid-term basic policy to dividend on equity ratio (DOE) of 5%.