FURUYA METAL CO.,LTD.

Business Details

Manufactures and sells SAW filters for mobile phones, optical isolators, Iridium/Platinum Crucibles (for Single Crystal Growth) used in the growth of oxide single crystals such as those for LEDs and medical scintillators, as well as Industrial Precious Metal Products for Optical Glass Melting/Forming. Main customers are semiconductor, electronic component, and medical device manufacturers. In the cumulative nine months of Q3 FY2026 (ending March 2026), sales to North America reached ¥4,126 million, making it the largest regional market, reflecting a global sales structure. Segment profit is calculated on a gross profit basis.

Recent Overview

Strong performance in optical communications and medical applications drove cumulative Q3 net sales up 54.3% year-on-year to ¥7,407 million

In the cumulative nine months of Q3 FY2026 (ending March 2026) (July 2025-March 2026), the Electronics segment recorded net sales of ¥7,407 million (up 54.3% year-on-year) and gross profit of ¥1,844 million (up 13.9% year-on-year). Orders for Iridium/Platinum Crucibles used for optical isolators for inter-data-center optical communications trended favorably, while orders for Iridium Crucibles used for medical scintillators remained steady. Crucibles for smartphone SAW filters are showing signs of recovery as material conversion progresses. On the other hand, the growth in gross profit was limited relative to the sharp increase in net sales, and the gross profit margin declined from 33.8% in the same period of the prior year to 24.9%. By region, North America was the largest at ¥4,126 million, followed by Asia at ¥189 million and Europe at ¥232 million.

Key Products

Growth Drivers

• Strong orders for Iridium/Platinum Crucibles used for optical isolators for inter-data-center optical communications, driven by expanding data center investment
• Steady order trends for Iridium Crucibles for medical scintillators (such as PET devices)
• Recovery trend driven by progress in material conversion for crucibles used in smartphone SAW filters
• Medium- to long-term growth of digital-related markets (information and communications, semiconductors, and electronics fields)
• Improved export profitability driven by yen depreciation (given the structure of a high proportion of overseas sales)

Risks

• Declining trend in gross profit margin (36.5% in FY2023, ended June 2023 → 29.3% in FY2025, ended June 2025 → 24.9% in cumulative Q3 FY2026, ending March 2026)
• Risk of increased costs due to surges and volatility in precious metal (iridium, platinum) prices
• Uncertainty regarding the sustainability of the demand recovery for Iridium Crucibles used in smartphone SAW devices
• Impact of US tariff policy (reciprocal tariffs) on the international supply chain
• Risk of deteriorating export profitability due to geopolitical risk and foreign exchange fluctuations