Sanken Electric FY24 sales fall, expects FY25 decline

Sanken Electric (TSE:6707) announced its FY24 financial results, reporting sales of JPY121.6 billion, down from the previous year. The company anticipates a further decline in FY25, projecting sales of JPY89.2 billion. FY24 net income was JPY50.9 billion. The company’s equity ratio strengthened to 56.9% following the partial sale of Allegro shares. The company anticipates a net loss of JPY4.4 billion for FY25. Sanken is focusing on long term strategic growth including GaN devices and the company will accelerate development through collaborations. The company will complete the share repurchase program. A voluntary retirement is underway at Ishikawa Sanken, which will result in JPY2.2 billion in losses. Sanken intends to resume dividend payments in FY26.