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Hirakawa Hewtech H1 sales up 41.2%, to fully acquire Yoshinogawa Densen via share swap

Wed, Nov 04, 2026 15:30 JST Hirakawa Hewtech Corp. (5821.T) Electric wire & cable 中文

Hirakawa Hewtech Corp. (5821) said on Wednesday that net sales for the April-September first half rose 41.2% to ¥25.54 billion and net profit attributable to owners of the parent rose 15.4% to ¥2.08 billion, and announced a share exchange to make subsidiary Yoshinogawa Densen Co. wholly owned.

H1 net sales¥25.54 billion (+41.2%)
H1 net profit attributable to owners¥2.08 billion (+15.4%)
Full-year net profit forecast (unchanged)¥4.1 billion
Share exchange ratio428.397 shares per Yoshinogawa share

Operating profit rose 38.9% to ¥2.95 billion and ordinary profit increased 48.0% to ¥3.01 billion. Earnings per share were ¥133.95.

Sales in the wire and processed products segment grew 50.4% to ¥23.12 billion, with segment profit up 44.8% to ¥3.01 billion. The electronic and medical components segment posted a 11.4% sales decline to ¥2.40 billion, which the company attributed to a drop-off from a large OEM project in the previous fiscal year.

The company kept its full-year forecast, released on July 31, 2026, unchanged: net sales of ¥48.0 billion, operating profit of ¥5.5 billion and net profit of ¥4.1 billion for the year ending March 2027. It set an interim dividend of ¥28 per share and forecast a year-end dividend of ¥29, for an annual total of ¥57.

Under the share exchange, Hirakawa Hewtech will allot 428.397 of its shares for each Yoshinogawa Densen share, delivering a planned 244,186 shares from treasury stock without issuing new shares. The ratio is based on Hirakawa Hewtech's Nov. 2 closing price of ¥3,120 and a Yoshinogawa Densen per-share value of ¥1,336,600. Hirakawa Hewtech made Yoshinogawa Densen a consolidated subsidiary in June 2025.

Next steps: the company plans to file its semi-annual report on Nov. 6 and hold an earnings briefing on Nov. 13. Yoshinogawa Densen's shareholders are scheduled to approve the exchange on Nov. 20, with the deal set to take effect on Dec. 21. Dividend payments are scheduled to begin Dec. 9.


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