MINATO HOLDINGS INC.
6862・Standard Market・Electric Appliances
Digital Devices
Core segment accounting for approximately 61% of consolidated group sales. Manufacturing and sales of semiconductor memory-related products form the mainstay.
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (full year, FY2026 (ending March 2026)) | ¥22,255 million | ¥13,960 million (full year, FY2025 (ended March 2025)) | ↑ |
| Segment profit (full year, FY2026 (ending March 2026)) | ¥4,262 million | ¥1,477 million (full year, FY2025 (ended March 2025)) | ↑ |
| Segment assets (full year, FY2026 (ending March 2026)) | ¥17,335 million | ¥5,770 million (full year, FY2025 (ended March 2025)) | ↑ |
| Sales YoY change (full year, FY2026 (ending March 2026)) | +59.4% | — | ↑ |
| Segment profit YoY change (full year, FY2026 (ending March 2026)) | +188.4% | — | ↑ |
Business Details
Handles manufacturing and sales of DIMM (Dual Inline Memory Module) and SSD (Solid State Drive) for industrial equipment applications, provision of eMMC/eMCP, and sales of Mobile Accessories. San Max Technologies Corporation and Kouyu (Hong Kong) Co., Ltd. run the business, with stable procurement of semiconductor memory products leveraging good relationships with key suppliers serving as the source of competitive advantage. The segment serves a wide customer base including PC manufacturers, industrial customers, and spot deals.
Recent Overview
Sales and profit both reached record highs due to rising generative AI-driven DRAM prices and stable procurement capability.
In FY2026 (ending March 2026), memory manufacturers' focus on production of memory for generative AI caused market prices of semiconductor memory products, mainly DRAM, to rise significantly, resulting in sales of ¥22,255 million (up 59.4% year on year) and segment profit of ¥4,262 million (up 188.4% year on year). Even under tight supply-demand conditions, the company continued to secure procurement by leveraging good relationships with key suppliers, and efforts toward fixed-cost management and profitability improvement contributed to the substantial profit increase. For FY2027 (ending March 2027), the pace of memory price increases is expected to moderate, and the profit margin of Digital Devices is expected to decline year on year.
Key Products
Growth Drivers
- Rising DRAM and NAND market prices driven by expanding memory demand for generative AI
- Stable procurement capability under tight supply-demand conditions, leveraging good relationships with key suppliers
- Receipt of large spot orders and acquisition of new deals
- Improved profit margin through continuous efforts in fixed-cost management and profitability improvement
- Expansion of the group customer base based on the Digital Consortium concept
Risks
- Risk of fluctuation in semiconductor memory market conditions (DRAM and NAND prices): sales and profit could deteriorate rapidly in a market downturn (a slower pace of memory price increases is assumed for FY2027 (ending March 2027))
- Inventory adjustment risk among major customers (PC manufacturers, industrial customers): decrease in sales volume if demand recovery is delayed
- Dependence risk on key suppliers: difficulty securing procurement due to supply constraints or deteriorating relationships with suppliers
- Foreign exchange risk: foreign exchange losses arising from overseas procurement through the Hong Kong subsidiary (Kouyu (Hong Kong) Co., Ltd.)
- Trade friction and geopolitical risk: supply chain disruption due to worsening US-China relations or tariff increases
- Risk of rapid increase in inventories: inventories increased substantially in FY2026 (ending March 2026) (raw materials and supplies of ¥5,529 million), raising the risk of valuation losses in the event of a sudden market change
Last updated: June 25, 2026