Reported Earnings • Aug 14
First quarter 2027 earnings released: EPS: JP¥86.06 (vs JP¥3.38 in 1Q 2026) First quarter 2027 results: EPS: JP¥86.06 (up from JP¥3.38 in 1Q 2026). Revenue: JP¥6.56b (up 12% from 1Q 2026). Net income: JP¥911.6m (up JP¥875.7m from 1Q 2026). Profit margin: 14% (up from 0.6% in 1Q 2026). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Aug 08
Torex Semiconductor Ltd. Launches Xd9704/Xd9705 Series Automotive Step-Down Dc/Dc Converters Torex Semiconductor Ltd. has launched the XD9704/XD9705 series, a new family of automotive step-down DC/DC converters compliant with the AEC-Q100 Grade 1 standard. The XD9704/XD9705 series is a compact, low-power synchronous buck DC/DC converter with a 36V input rating and 46V peak voltage capability (=400ms), making it suitable for automotive +B power supply applications. It provides up to 600mA output current for communication modules, sensors, and other automotive and industrial systems, while supporting an operating temperature range of -40°C to +125°C. Operating at a 2.2MHz switching frequency, the series enables the use of small inductors and capacitors, reducing the total mounting area to just 48.7mm². With a quiescent current of only 11µA, it achieves up to 90% efficiency under VIN=12V, VOUT=5V, and IOUT=1mA, delivering high efficiency across light to heavy loads while providing an effective alternative to conventional medium- and high-voltage LDO regulators with reduced heat generation. Unlike conventional DC/DC converters that use an N-channel driver FET, the XD9704/XD9705 series integrates a P-channel driver FET, enabling 100% duty-cycle operation. During engine cranking or other low-input-voltage conditions, the converter can pass the input voltage directly to the output, ensuring reliable operation even with a small input-to-output voltage differential. The devices also feature Power Good and soft-start functions to simplify power sequencing. The XD9704 series features fixed F-PWM control for low-ripple operation, while the XD9705 series employs automatic PWM/PFM mode switching for maximum efficiency over a wide load range. The series is available in the SOT-89-5 package, with the compact DFN1820-6J package (under development) planned to further expand design flexibility for space-constrained automotive and industrial applications. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JP¥2,019, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 22x in the Semiconductor industry in Japan. Negligible returns to shareholders over past three years. 
