Mecaro Q1 2026 Strong Earnings, Continued Dividends and Share Disposal

Consolidated Q1 2026 sales KRW 25.5B, operating profit KRW 4.1B, net profit KRW 4.9B, up 19%, 24%, and 21% YoY respectively.
Debt ratio 11.77%, very low financial soundness; credit rating upgraded to A (from A-).
2025 year-end dividend KRW 3.49B (approx. KRW 342 per share) paid, payout ratio ~27.6%.
Holds 84,191 treasury shares (0.8% of issued shares), plans to dispose of all by 2027.
R&D expense 12.8% of sales (KRW 3.27B), maintaining high R&D investment.
44.92% of sales (KRW 11.46B) from related party Chip Core Technology.
Subsidiary Mecaro Energy recorded operating loss of KRW 1.21B in Q1.
Chinese subsidiary MECARO CHINA provides KRW 35B loan guarantee to Chip Core Technology.
Ongoing KRW 41.7B investment in Pyeongtaek Brain City land purchase (balance KRW 6.3B).
Positive semiconductor market outlook and AI demand expected to benefit.

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