Hirose Electric sales rise 9% but profit falls 4%

Hirose Electric reported Q1 sales up 9.1% to 48.97 billion yen, driven by recovery in industrial equipment and strong consumer/mobile performance. However, operating profit fell 4.2% to 9.83 billion yen and net profit dropped 14% to 7.23 billion yen.

The company announced a 15 billion yen share buyback program and acquired S.E.R. Corporation to strengthen its semiconductor inspection business.