MICRON MACHINERY CO., LTD.
6159・Standard Market・Machinery
MICRON MACHINERY CO., LTD. (Single Segment: Manufacture and Sale of Grinding Machines)
A single-segment company engaged in the manufacture and sale of Centerless Grinders and Internal Grinders
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (cumulative Q3) | ¥2,749 million | ¥4,137 million (cumulative Q3 of the previous fiscal year) | ↓ |
| Operating profit (cumulative Q3) | ¥30 million | ¥464 million (cumulative Q3 of the previous fiscal year) | ↓ |
| Operating profit margin (cumulative Q3) | 1.1% | 11.2% (cumulative Q3 of the previous fiscal year) | ↓ |
| Ordinary profit (cumulative Q3) | ¥919 million | ¥716 million (cumulative Q3 of the previous fiscal year) | ↑ |
| Quarterly net profit attributable to owners of the parent (cumulative Q3) | ¥609 million | ¥478 million (cumulative Q3 of the previous fiscal year) | ↑ |
| Gross profit margin (cumulative Q3) | 37.3% | 37.3% (cumulative Q3 of the previous fiscal year) | — |
| Equity ratio | 83.3% | 87.4% (end of FY2025 (ending August 2025)) | ↓ |
| Total assets | ¥17,146 million | ¥15,565 million (end of FY2025 (ending August 2025)) | ↑ |
| Net assets | ¥14,308 million | ¥13,633 million (end of FY2025 (ending August 2025)) | ↑ |
| Quarterly net profit per share | ¥130.64 | ¥98.53 (cumulative Q3 of the previous fiscal year) | ↑ |
| Full-year net sales forecast | ¥5,467 million | ¥5,782 million (actual results for FY2025 (ending August 2025)) | ↓ |
| Full-year operating profit forecast | ¥381 million | ¥612 million (actual results for FY2025 (ending August 2025)) | ↓ |
Business Details
The company handles the development, design, manufacture, sale, and after-sales service of Centerless Grinders and Internal Grinders and their peripheral equipment in an integrated manner. It manufactures on a build-to-order basis at its head office plant in Yamagata Prefecture, Japan, and sells to more than 28 countries worldwide through local subsidiaries in the United States, Thailand, and China. The company has strength in high-precision machining for automotive parts and motor shafts, and was selected as a global supplier by Caterpillar Inc. of the United States in 2005. In 2020, it was also designated a Global Niche Top company certified by the Ministry of Economy, Trade and Industry.
Recent Overview
Net sales and operating profit declined sharply, but a foreign exchange gain of ¥580 million pushed up ordinary profit
For the cumulative nine months of Q3 FY2026 (ending August 2026) (September 2025 to May 2026), net sales were ¥2,749 million (down 33.5% year on year) and operating profit was ¥30 million (down 93.3% year on year), representing a significant deterioration. On the other hand, a foreign exchange gain of ¥580 million recorded under non-operating income lifted ordinary profit to ¥919 million (up 28.5% year on year), and net profit attributable to owners of the parent to ¥609 million (up 27.3% year on year), securing an increase in profit. On the balance sheet, investment securities increased by ¥1,419 million, expanding total assets. Contract liabilities increased by ¥735 million (to ¥1,182 million), suggesting an accumulation of orders ahead of future revenue recognition. The full-year earnings forecast remains unchanged at net sales of ¥5,467 million and operating profit of ¥381 million.
Key Products
Growth Drivers
- High level of overseas demand: Despite an uncertain international situation, overseas demand has remained at a high level, continuing to support sales through overseas shipments
- Accumulation of contract liabilities: Contract liabilities at the end of Q3 increased significantly to ¥1,182 million (up ¥735 million from the end of the previous fiscal year), which is expected to translate into future revenue recognition
- Profit supplementation through foreign exchange gains: Against a backdrop of yen depreciation, a foreign exchange gain of ¥580 million was recorded, offsetting the sharp decline in operating profit at the ordinary profit stage
- Increase in the value of investment securities: Investment securities expanded to ¥3,251 million (up ¥1,419 million from the end of the previous fiscal year), strengthening the financial base
- Continued North American demand based on selection as a global supplier by Caterpillar Inc.
- Promotion of company-wide cost reduction activities: Gross profit margin was maintained at 37.3%, and SG&A expenses were reduced to ¥993 million (down ¥84 million year on year)
Risks
- Sharp decline in net sales: Cumulative Q3 net sales fell sharply by 33.5% year on year to ¥2,749 million, and achieving the full-year forecast of ¥5,467 million requires recording ¥2,718 million in sales in Q4
- Extremely low level of operating profit: Cumulative Q3 operating profit was only ¥30 million (operating profit margin of 1.1%), and achieving the full-year forecast of ¥381 million requires ¥351 million in operating profit in Q4
- Foreign exchange fluctuation risk: Ordinary profit is heavily dependent on a foreign exchange gain of ¥580 million, meaning that changes in exchange rate trends directly affect business performance
- U.S. trade policy (tariff) trends: The risk of impact on sales to North America and Latin America, key export destinations, continues
- Sluggish domestic demand: Domestic machine tool demand remains weak, making a recovery in domestic sales difficult to anticipate
- Difficulty in procuring materials due to the situation in the Middle East: The situation in the Middle East has caused difficulty in procuring some materials, posing a risk to manufacturing and delivery schedules
- Dependence on specific customers: Risk of customer concentration due to sales concentration among top customers
- Rising raw material costs: Rising raw material costs push up manufacturing costs, posing a risk of pressure on profitability
Last updated: November 20, 2025