$5344 (+0,4 %)

Hello, everyone,

Just this morning, I was @Dividendenopi we were wondering if now might be a good time to get started. And whether this might be an exciting stock for the second wave .

MARUWA is now forecasting revenue of 101.5 billion yen and an operating profit of 38.3 billion yen for the fiscal year ending in March 2027, citing demand for high-speed communications and new-energy vehicles, with new buildings at the Seto and Toki plants planned for the second half of the year.

MARUWA raised its full-year forecast for the second time this year, increasing its expected revenue to 101.5 billion yen and operating profit to 38.3 billion yen for the fiscal year ending in March 2027. The manufacturer of ceramic components said that demand is strong in the second half.

What’s New

The revision, outlined in a notice regarding forecast changes dated October 27, 2026, amends the forecast published on July 29, 2026. The revenue forecast increases by 8.2 billion yen from 93.3 billion yen, or 8.8 percent, and the operating profit forecast increases by 4.6 billion yen from 33.7 billion yen, or 13.6 percent. Net income attributable to owners of the parent company is now forecast at 26.0 billion yen, or 2,106.86 yen per share. The announcement does not provide prior figures for ordinary income or net income.

Demand and Investments

MARUWA cites three drivers: strong demand for next-generation high-speed communications, growth in differentiated products for new-energy vehicles, and steady demand for general-purpose memory. The interim earnings announcement adds that the Information and Communications business expects strong demand for the next models in the next generation of high-speed communications. It states that the company will also accelerate investments in new technologies and production.

Production is the other half of the story. Starting in the second half of the year, the company plans to bring a new building at the Seto Plant (Communications) and one at the Toki Plant (Automotive) online to increase production. These launches are planned but not yet finalized. According to the earnings report, a new building at the Miharu plant for semiconductor products began operations in the second quarter.

The new facilities come at a cost. The earnings release states that investments to expand the business, including new factory start-ups, are expected. It is reported that the company aims to further improve profitability through productivity gains.

The first half of the fiscal year has just ended

In the six months ended September 30, 2026, revenue rose 41.7% to 46.92 billion yen, and operating profit increased 62.4% to 17.61 billion yen—both record highs. Both figures exceeded the company’s July forecasts of 42.2 billion yen in revenue and 14.8 billion yen in operating profit by 11.2% and 19.0%, respectively. The company attributes the performance to continued strong demand for communications, storage, and new energy vehicles.

The forecast is based on an exchange rate of ¥158 per dollar. This is the company’s planning assumption, not a market quote. The announcement also cautions that actual results may differ from forward-looking statements.

MARUWA lifts full-year profit guide again as new plants start in the second half | Tokyo Brief

Here's the hottest stuff from MARUWA Co. $5344 (+0,4 %)
(TYO: 5344) Q1 FY2027 earnings, just released from Japan:

🚀 All-time high Q1 & AI server boost

The Japanese ceramics and high-performance substrate specialist is reaping unstoppable benefits from the global boom in AI data centers, optical transceivers, and semiconductor equipment. The first quarter delivered record results across the board:

Record revenue: Consolidated revenue climbed by +11.7% to 19.27 billion JPY (previous year: 17.26 billion JPY)—the strongest first quarter in the company’s history.

Net Profit Surge: Net income attributable to shareholders rose by +15.2% to 4.47 billion JPY (EPS rose from 314.31 JPY to 361.96 JPY).

Driver Segment: In addition to sustained demand for chips and telecommunications, the LED lighting segment also posted robust growth.

🔮 Profitability & Balance Sheet Strength

MARUWA’s business model once again demonstrates its exceptionally high operational quality:

Operating Profit: Grew by +5.8% to 6.35 billion JPY.

Impressive Margin Levels: The operating margin remains at over 32.9% at an exceptionally high level—ceramic substrates for optical modules represent an absolute niche monopoly.

Solid Balance Sheet: The equity ratio (Equity Ratio) continued to improve to an unbelievable 91.5% (up from 90.5% at the end of the previous year). MARUWA has virtually no net debt.

🤖 Major Forecast Upgrade (Guidance Raise)

Because the order books for high-performance ceramic heat sinks and substrates continue to overflow, management is significantly raising the full-year targets (FY ending March 2027):

Revenue Forecast (FY27): Now raised to 93.30 billion JPY (an increase of +25.3% year-over-year).

Operating profit (FY27): Revised upward to 33.70 billion JPY (a whopping increase of +34.9% year-over-year).

Capacity Expansion: To meet the massive demand from AI infrastructure, production capacity is being further expanded.

⚡ 💡 Jack’s take

MARUWA is the secret hidden star of the AI boom! Without the specialized ceramic substrates for heat dissipation in optical transceivers and high-end processors, nothing in modern data centers would work.

The Quality Assessment: An operating gross margin of over 50%, an equity ratio of 91.5%, and an operating profit expected to grow by nearly 35% this year—MARUWA is an absolutely flawless quality powerhouse with a deep moat. If you like niche semiconductor champions, this is an absolute gem. 🧱⚡

Hello my dears,

I have a short presentation from Japan for Friday afternoon.

The value has already been posted here by our dear @PikaPika0105 posted here. So best regards, my dear.

As always, we look forward to your comments.

$5344 (+0,4 %)

MARUWA Co Ltd is a Japan-based company principally engaged in the manufacture and sale of ceramic components, including electronic components, and lighting equipment. The company operates in two segments. The Ceramic Components segment manufactures and sells electronic components, ceramic substrates and semiconductor manufacturing products. The Lighting Equipment segment is engaged in the manufacture and sale of lighting equipment that utilizes light-emitting diodes (LEDs) in addition to conventional lighting equipment. The company is also active in the area of supporting foundation activities.

FY2025 Final Financial Result

Sales breakdown by business segment:

2025 (USD)

Ceramic Component 62.49 billion

Lighting Equiqment 9.4 billion

Unallocated Adjustment -45 million

Geographical distribution of sales:

2025 (USD)

China 31.22 bn

Others 20.71 bn

Japan 19.92 bn

Juan conclusion on the key financial figures (Maruwa 2025-2028)

Here is the short, crisp Juan summary in hoodie style:

Maruwa delivers a strong but volatile pulsating growth profile. Turnover and earnings are rising cleanly over the entire period, with two clear turbo years in 2027 and 2028. margins remain impressively highespecially the EBITDA margin, which rises above the 50% mark by 2028 - that is absolute premium class.

EBIT and net income show a small dip in 2026, but the rebound in 2027/28 is massive.

The free cash flow fluctuates strongly, but remains positive in the long term and really picks up again from 2027.

The Net debt is negative and continues to grow into the cash-net cushion - a luxury problem that provides stability and strategic flexibility.

ROE remains solidly in double digitsEPS is growing dynamically and confirms operational strength.

In short: Maruwa is a highly profitable quality compounder with temporary fluctuations but a clear upward trend. The combination of margin power, cash-net position and rising earnings makes the setup extremely attractive in the long term.

Juan's conclusion on the valuation ratios (Maruwa 2025-2028)

(based on your currently open MarketScreener tab)

Here is the crisp hoodie conclusion on the valuation ratios:

Maruwa looks like a premium stock just entering a more expensive valuation zone. The P/E ratio will rise significantly from 2026because earnings will not grow at the same pace as the share price in the short term. In 2027/28, the level remains high, but not excessive - rather "quality at a price".

The PEG trajectory is exciting2025 still extremely attractive, 2026 distorted by the decline in profits, from 2027 back in the green zone. This signals: The valuation will normalize as soon as earnings growth returns.

FCF yield is volatilebut positive in the long term. 2026 is a downward outlier, after which the cash yield will stabilize again.

The dividend per share rises cleanly throughbut the dividend yield remains minimalbecause the share price has performed strongly. Classic quality stock: distribution grows, yield remains low.

In short: Maruwa is a high quality, high growth stock currently trading at a premium multiple. The valuation is ambitious, but well underpinned by margin strength, cash power and rising EPS. Absolutely right for long-term quality investors.

Performance

1 week +7.61 %

1 month +20.45 %

6 months +76.30 %

1 year + 110.42 %

$5344 (+0,4 %) Price 402.00€ 15.05.2026 at 16:05

Hey, GQ crew ✌️

My first post since I got kicked out about 4 weeks ago—who would’ve thought that showing solidarity with one of the members (@Klein-Anleger ) would lead to a ban so quickly? But getquin’s generosity was so BIG (and, most importantly, “on a trial basis”) that they graciously let me back into the holy grail of the GQ community 😉

So guys, learn from my mistakes: The leniency here isn’t an “infinite money” glitch! Save your solidarity for later, keep your support for other members at zero, and most importantly 🚨: No sneaky advertising for alternative financial platforms like “Cisdord” 😉😂.

Sorry, that little dig after four weeks away was a must 🤝

But joking aside…

⏳The first three months of 2026 have passed. Time for a brief interim assessment of the current status of my portfolio rebuild.

Before I started rebuilding my portfolio, I naturally thought about what strategy I wanted to pursue in the coming months and years—especially with regard to stock selection and weighting.

To be honest, my original plan was to maintain a portfolio with a maximum of 20 stocks. As things progressed, however, I realized that it probably wouldn’t stay at 20—the number is more likely to rise to around 30 positions (+/-)—

♟️My Focus & Strategy:

To put it simply: The clear focus is on growth 🚀. Dividends play a rather secondary role here. Here, I’ll show you my shopping list—or rather, what my portfolio should look like in the future. The stocks I’ve already bought are marked with a green checkmark; those without a checkmark are ones I’m still waiting on ⏳

🤖TECH:

• AMAZON $AMZN (+1,69 %) ✅
• MICROSOFT $MSFT (-1,35 %) ✅
• CROWDSTRIKE $CRWD (-0,32 %) ✅
• SYNOPSYS $SNPS (-0,54 %) ✅
• INTUIT $INTU (+1,14 %) ✅
• CONSTELLATION SOFTWARE $CSU (+1,03 %) ✅
• SERVICENOW $NOW (-2,58 %) ✅
• ALPHABET $GOOGL (-0,31 %)
• NVIDIA $NVDA (-5,05 %)
• ASML $ASML (+0,41 %)
• MONOLITHIC POWER SYSTEMS $MPWR (-0,97 %)
• ARISTA NETWORKS $ANET (-0,13 %)
• KEYENCE $6861 (+0,76 %) ✅
• TSMC $TSM (+2,38 %)
• MARUWA $5344 (+0,4 %)
• LASERTEC CORP $6920 (-0,51 %)
• NETCOMPANY $NETC (-1,66 %) ✅
• CELLEBRITE DI $CLBT (+0,13 %) ✅

🏦💸FINANCE:

• SOFI TECHNOLOGIES $SOFI (-2,22 %) ✅
• S&P GLOBAL $SPGI (+0,81 %) ✅
• VISA $V (+0,38 %) ✅
• MUNICH RE $MUV2 (+2,33 %) ✅
• GERMAN STOCK EXCHANGE $DB1 (+2,12 %) ✅
• PARTNERS GROUP $PGHN (+0 %) ✅
• BROOKFIELD CORP $BN (-0,3 %) ✅
• HOULIHAN LOKEY $HLI (+0,23 %) ✅
• BROADRIDGE $BR (+1,59 %) ✅
• CBOE GLOBAL MARKETS $CBOE (+3,78 %)

🏥🩻HEALTHCARE:

• NOVO NORDISK $NOVO B (-1,03 %) ✅
• INTUITIVE SURGICAL $ISRG (-1,91 %)
• STRYKER $SYK (+0,03 %)
• BOSTON $BSX (+2,06 %)
• CATALYST PHARM $CPRX

🏭🏗️INDUSTRY & OTHER:

• WASTE MANAGEMENT $WM (+1 %) ✅
• GRAB HOLDINGS $GRAB (-1,94 %) ✅
• CINTAS $CTAS (+1,47 %) ✅
• MonotaRO $3064 ✅
• ITOCHU $8001 (-0,06 %) ✅
• HERMES $RMS (-1,41 %) ✅
• MERCADOLIBRE $MELI (-2,19 %) ✅

————————————————————————

Here is my expanded watchlist:

IN THE TECH SECTOR:

RAMBUS $RMBS (+0,26 %) , QNITY ELECTRONICS $Q (-0,9 %) ,

INNODATA $INOD (-4,54 %) , NETFLIX $NFLX (-0,51 %) ,

VERTIV $VRT (-2,79 %) , PALANTIR $PLTR (-0,1 %) , VAT GROUP $VACN (+0,69 %) , BROADCOM $AVGO (+4,47 %) , AMADEUS IT $AMS (+1,35 %) , DISCO CORP $6146 (-0,39 %) , A10 NETWORKS $ATEN (+3,02 %) , RORZE $6323 , CAMTEK $CAMT (-2,2 %)

FINANCE:

APOLLO GLOBAL $APO (+1,24 %) / BLACKSTONE $BX (-0,5 %) , ALLIANZ $ALV (+1,83 %) , FIRSTCASH $FCFS (-1,84 %) , BLACKROCK $BLK (+0,11 %) SKYWARD SPECIALTY INSURANCE $SKWD , VERISK ANALYTICS $VRSK (+2,24 %) PRIMERICA $PRI (+1,5 %) , ERIE INDEMNITY $ERIE (+0,83 %) , MAREX GROUP $MRX , BGC GROUP $BGC (+1,54 %)

HEALTHCARE:

MERIT MEDICAL SYSTEMS $MMSI (+0 %) , REGENERON PHARM $REGN (+0,53 %) , UFP TECHNOLOGIES $UFPT (-0,84 %) , COLLEGIUM PHARM $COLL (-0,9 %) , LIGAND PHARM $LGND (+0,72 %) , HOYA CORP $7741 (-1,83 %) , SHIONOGI $4507 (-3,56 %) , IRADIMED $IRMD (+0,65 %)

REST:

MISUMI GROUP $9962 (+2,62 %) , KANEMATSU $8020 (+1,53 %) , APPLIED INDUSTRIAL TECH $AIT (+1,06 %) , BADGER METER $BMI (-0,53 %) , CEMENT ROADSTONE HOLDING $CRH (-0,36 %) , KADANT $KAI (-0,37 %) , INTERTEK GROUP $ITRK (-0,31 %) , IDEX CORP $IEX (+0,95 %) , ORLA MINING $OLA , NEWMARKET CORP $NEU (+0,81 %) , ROTORK $ROR (-0,83 %) , POWER INTEGRATION $POWI (-0,25 %) , LINDE $LIN (+0,49 %) , GAZTRANSPORT & TECHNIGAZ $GTT (+0,57 %)

This isn’t my final stock selection or watchlist yet. Of course, changes can always happen—for example, if the @Tenbagger2024 continues to introduce such hidden gems 🙏🏽🧐

————————————————————————

What should the sector/country allocation look like?

Let’s start with the “desired”

🌍country allocation:

🇺🇸🇨🇦USA ~60%

🇪🇺EUROPE ~20%

🇯🇵 JAPAN/ASIA ~15%

Remaining ~5%

Sector weightings should be as follows:

💻 TECHNOLOGY: ~30–35%

💸FINANCE: ~20–25%

🏥HEALTHCARE: ~10–15%

🏭INDUSTRY: ~10–15%

REMAINING: ~5–10%

So, what’s happened since the start of the year?

Of course, there were no sales 😬

There were a few purchases where I had a hand in the decision.

JANUARY PURCHASES

$INTU (+1,14 %)
$GRAB (-1,94 %)
$NOW (-2,58 %)
$MSFT (-1,35 %)

FEBRUARY PURCHASES

$NOW (-2,58 %)
$INTU (+1,14 %)
$SPGI (+0,81 %)
$SNPS (-0,54 %)
$CSU (+1,03 %)
$SOFI (-2,22 %)
$CRWD (-0,32 %)

MARCH PURCHASES

$MUV2 (+2,33 %)
$3064
$8001 (-0,06 %)
$6861 (+0,76 %)
$DB1 (+2,12 %)
$V (+0,38 %)
$HLI (+0,23 %)
$MSFT (-1,35 %)
$CTAS (+1,47 %)
$MELI (-2,19 %)
$BN (-0,3 %)
$PGHN (+0 %)
$BR (+1,59 %)

Given the global political situation—especially because of that 🍊 in the White House, whose tweets cause more tsunamis 🌊than actual natural disasters—and the current drawdown in the S&P 500 (which is actually working out great for me right now and bringing me a lot of joy 🤩), I’m consequently in the red on some of my purchases so far 💦🫧.

But hey, we’re investing for the long term, after all, right? So, taking it easy, keeping it chill 🥱 I’ll most likely hold off on making any more purchases for the time being over the next few days or weeks, park my cash elsewhere or put it in a money market account, and wait to see where the market settles or wait for it to stabilize.

What do you guys have on your watchlist?

Are you sitting on the sidelines right now, or how are you handling the current situation?

@Get_Rich_or_Die_Tryin
@Tenbagger2024
@Max095 And, of course, all the other members

Okay, that’s enough for now 😂

That’s all from me for now ✌️

Your Stock Master

Last Sunday, the Japanese Prime Minister achieved the best election result ever for her party. Her party received almost 70% (!!!) of the vote, which, with the exception of constitutional amendments, gives her the power to "rule through". If you were to translate the election result (just for fun) into the German party system, the CDU, FDP and AfD would have received around 90% of the vote and all left-wing parties together around 10% 😂

The Japanese benchmark index Nikkei 225 then reached a new all-time high. It is assumed that the defense and tech industries will be strengthened under her government. It wants to create more national champions and at the same time prioritizes national sovereignty. However, tensions with China's communist dictatorship could increase as, unlike her predecessors, she clearly articulates Japan's interests to the Chinese, which they visibly dislike.

What her economic agenda will look like will probably become clear in the coming weeks to months, but I am convinced that the stock markets will benefit significantly. It will probably be a mixture of tax cuts and targeted industrial policy with a focus on high technology.

All in all, I think Japan has made the right decision to combine technology leadership, national sovereignty and security interests. They now have a strong and stable government for the next few years, from which I think we can expect a lot (also for our portfolio) :)

$7012 (-5,92 %)
$5801 (-3,42 %)
$8035 (-5,24 %)
$5344 (+0,4 %)
$9984 (-4,32 %)
$4063 (+0,08 %)
$6324 (+4,51 %)
$6702 (-2,49 %)
$6701 (+0,35 %)
$8306 (+0,05 %)

Sold it a little too early on Friday, but not dramatically. Would like to bring some balance to the portfolio. Rocket Lab $RKLB (+7,39 %) is still by far my largest position and I still believe in it, but the company is already worth about 75 times its turnover. That's why I'm trying to gradually pour some money into new positions that also have high potential with comparatively lower risk. On Monday, I will invest part of the profit in Maruwa $5344 (+0,4 %) on Monday. Maruwa is a highly profitable manufacturer of high-performance ceramics from Japan. They control almost the entire market and benefit not only from AI, but also from trends such as photonics, automation, electrification, etc. Wherever heat is generated, Maruwa comes into play. It will not be possible to eliminate this law of physics through innovation. A true hidden champion.

I will probably also increase my positions in Kawasaki Heavy Industries. $7012 (-5,92 %) as well. Apart from that, I just treated myself to a bit of cash for Christmas, because being wealthy only on paper is kind of boring. Merry Christmas to you all 🎄