Guidance revised up, moving towards achieving medium-term plan target in FY3/27

研报英文原文证据摘录

Guidance revised up, moving towards achieving medium-term plan target in FY3/27

Global Research

18 June 2026ab

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EquitiesFujikura

Guidance revised up, moving towards achieving Japan

medium-term plan target in FY3/27 Non-Ferrous Metals

12-month rating Buy

12m price target ¥5,590

Upward revision to FY3/27 plan announced after the market close on 18 June

Fujikura substantially raised its FY3/27 OP plan from ¥211bn (+11.8% yoy) to ¥310bn

(+64.3% yoy). This upward revision reflects stronger-than-expected project orders from Price (18 Jun 2026) ¥4,461

hyperscalers, higher sales prices, and limited impact from materials, such as hydrogen, RIC: 5803.T BBG: 5803 JP

which had been a concern. As a result, the initial FY3/27 guidance has been substantially

Trading data and key metrics

raised. The revised FY3/27 OP plan is at a level roughly equating to achievement of the

conservative target set in the new medium-term plan announced in May 2026. We view 52-wk range ¥7,855-1,119

this as a positive as it is likely to ease concerns over the company’s capacity to respond to Market cap. ¥7,386b/US$46.0b

production increases, which the market has been concerned over since guidance was Shares o/s 1,656m (ORD)

announced. Free float 59%

Avg. daily volume ('000) 61,227

Adjusting conservative business environment assumptions for Avg. daily value (m) ¥317,118.8

telecommunications segment to align with actual conditions Common s/h equity (03/27E) ¥705b

While details on the upward revisions have not yet been disclosed, the company cited P/BV (03/27E) 10.5x

increased orders for optical components (e.g. patch cords), the effects from product Net debt to EBITDA (03/27E) NM

price hikes, and the easing of procurement risks for materials such as hydrogen. If the

EPS (reported, basic) (¥)