Miraial revises H1 forecast downward amidst semiconductor market shifts

Miraial (TSE:4238) has revised its consolidated earnings forecast for the first half of the fiscal year ending January 2026. The company now expects sales of JPY6,300 million, operating profit of JPY260 million, recurring profit of JPY280 million, and profit attributable to owners of the parent of JPY215 million. This revision reflects a decrease from previous expectations due to the evolving dynamics within the semiconductor market, where demand for advanced AI and IoT components remains strong, but demand is weak for consumer products like smartphones and PCs. A decline in construction equipment demand has also contributed to the downward revision. To counter this, Miraial will continue with production capacity enhancements and plans to cautiously and gradually execute capital investment, which is expected to increase depreciation costs. However, despite the earnings adjustments, Miraial plans to distribute a dividend of JPY10 per share at the end of the second quarter.