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FINWIRES

Seiko Electric's Profit Jumps 42% in Q1

-- Seiko Electric's (TYO:6653) profit attributable to owners of the parent jumped 42% to 1.06 billion yen in the first quarter from 746 million yen a year earlier.

The heavy electric machinery manufacturer's basic earnings per share increased to 78.16 yen from 55.31 yen a year ago, according to a Tokyo bourse filing on Wednesday.

Net sales climbed 13% to 9.57 billion yen for the three months ended March 31 from 8.5 billion yen in the prior-year period.

For the year 2026, the company expects attributable profit of 2.3 billion yen, basic earnings per share of 170.05 yen, and net sales of 36 billion yen.

Seiko Electric plans to pay interim and year-end dividends of 27.50 yen per share each for the current fiscal year, which is higher than the amount paid in the year-ago period.

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