Meiko Electronics posts strong Q2 with rising sales and expansion plans

Meiko Electronics announced its financial results for Q2 FY2025, reporting consolidated net sales of 111.5 bn yen and operating income of 12.1 bn yen, representing an operating income margin of 10.9%. This marks an increase from H1 FY2024, which saw net sales of 98.2 bn yen and operating income of 9.3 bn yen. The company projects full-year FY2025 net sales of 223.0 bn yen and ordinary income of 22.0 bn yen.

Growth in net sales was particularly strong in the Electronic Equipment segment, with an H1 FY2025 result of 19.5 bn yen compared to 16.4 bn yen in H1 FY2024. The PCB segment also contributed significantly, with H1 FY2025 net sales reaching 92.0 bn yen. Key product applications showing notable sales increases include Module (up 17.5%), Amusement/Smart Appliances/Industrial Equipment/Other Substrates (up 38.1%), and ODM (up 36.7%).

Meiko Electronics is expanding its production capacity with new facilities. The Nanyo Factory #2, starting construction in October, is designed for semiconductor packaging. The Hoa Binh Plant #2, under construction, will increase mounting and assembly areas. The company is also making significant investments in Vietnam, including Vietnam Plant No.4 (approx. 25 bn yen) for high-layer HDI boards and memory module PCBs, and Hoa Binh Plant #1 (approx. 50 bn yen) for advanced HDI PCB production, reflecting a focus on high-layer PCBs and AI server-related demand.