Record Operating Profit
Operating profit increased by 55.8% year-on-year, reaching a record high for the interim period due to the significant depreciation of the yen, increased shipments of products to the ICT market, and effects of streamlining and structural reforms.
Strong Growth in Magnetic Application Products
Net sales for Magnetic Application Products increased 33.6% year-on-year to JPY 110.9 billion, with a profitable outcome even excluding onetime gains due to a 1.6-fold increase in demand for Nearline HDDs for data centers.
Increased Free Cash Flow
Free cash flow for the first half was JPY 105.9 billion, significantly exceeding the initial forecast, with a full year expectation now set at JPY 120 billion.
Positive Year-End Revision
Full year projections were revised upwards with net sales of JPY 2.120 billion, operating income to JPY 220 billion, and net income to JPY 160 billion.
Interim Dividend Increase
Interim dividend increased from JPY 12 to JPY 14, showing a positive outlook towards shareholder returns.
ICT Market Recovery
Recovery in the ICT market with increased sales of rechargeable batteries and sensors due to new smartphone model launches, and a significant recovery in data center demand.