[Summary]
From the financial results disclosed on May 15, 2026, we selected 10 stocks that we would like to analyze for analysis across sales growth, operating profit growth, operating profit margin, financial stability, and company forecasts.
The 10 stocks to watch this time are Kioxia HD, AI Mechatech, santecHD, Asahi Intec, Computer Science, DI, G-Batons, Terra Probe, Kimura Koki, and G-Cyber Security.
Strong results are noticeable in semiconductors, optical communications, medical equipment, system development, and digital services. However, stock prices fluctuate not only based on performance, but also on market expectations and supply and demand. This article is a cross-sectional review of same-day disclosure, and is not a portfolio instruction.
Selection policy
In this selection, we focused not only on the size of net income but also on the operating income and profit margin of the core business.
The main points confirmed are as follows.
- Are sales or sales revenue growing?
- Is operating profit increasing or turning profitable?
- Is there a certain level of operating profit margin and ROIC?
- Are there any major discrepancies in the equity ratio or operating cash flow?
- If full-year and next-year forecasts can be confirmed, is there room for continued growth? *Is the improvement explained by operating income, not just a temporary factor?
On the other hand, we are cautious about stocks that have operating deficits, weak operating cash flows, a risk of significantly falling short of company forecasts, or stocks that are just ahead of their themes and have weak numerical support.
Company forecasts may change depending on the external environment.
10 stocks to watch
| Company name | Code | Fiscal year end | Reason for attention | Points to note | Details |
|---|---|---|---|---|---|
| [KIOXIA HD | 285A](/securities/285A/quarterly/2026-05-15-285A-2026Q4.html) | Full year ending March 2026 | Sales increased by 37.0%, operating income increased by 93.4%. With an operating profit margin of 37.5% and operating cash flow of 616.54 billion yen, the company has a large profit leverage during the memory market recovery phase. | Semiconductor memory is greatly affected by market cycles and inventory adjustments. It is also necessary to check EPS and PER. | Details |
| [AI Mechatech | 6227](/securities/6227/quarterly/2026-05-15-6227-2026Q3.html) | 3Q of June 2026 | Sales increased by 134.4%, operating income increased significantly. The progress rate against the full-year operating profit plan is 87.1%, and the operating profit margin is 17.0%, indicating the strength of demand for equipment. | Capital investment for semiconductors and electronic components is influenced by business cycles. We want to confirm the backlog of orders and the continuity of customer investment. | Details |
| [santecHD | 6777](/securities/6777/quarterly/2026-05-15-6777-2026Q4.html) | Full year ending March 2026 | Sales increased by 31.1%, operating income increased by 39.0%. With an operating profit margin of 32.8%, equity ratio of 71.2%, and operating CF of 8.095 billion yen, it is easy to confirm both growth and financial performance. | Profit margins may fluctuate due to demand for optical communications/measuring instruments, exchange rates, and product mix. | Details |
| [Asahi Intecc | 7747](/securities/7747/quarterly/2026-05-15-7747-2026Q3.html) | 3Q of June 2026 | Sales increased by 18.0%, operating income increased by 45.5%. With an operating profit margin of 34.5% and a progress rate of 88.6% towards the full-year operating profit plan, the product has a sense of stability as a highly profitable medical device. | Medical devices are affected by regional sales, product mix, foreign exchange rates, and R&D investment. | Details |
| [Computer | 3640](/securities/3640/quarterly/2026-05-15-3640-2026Q4.html) | Full year ending March 2026 | Sales increased by 49.3%, operating income increased by 150.1%. Operating profit margin was 22.5%, equity ratio was 63.3%, and operating CF was 4.31 billion yen, improving both core business profits and cash. | Since it is difficult to confirm the company's next forecast, we would like to see the profitability of orders and the continuity of project progress. | Details |
| [DI | 4310](/securities/4310/quarterly/2026-05-15-4310-2026Q4.html) | Full year ending March 2026 | Sales increased by 40.6%, operating income increased by 595.6%. Operating profit margin is 20.6%, equity ratio is 74.0%, operating CF is 2.576 billion yen, and profit leverage is strong. | Since the company's forecasts are not disclosed, we would like to additionally confirm the repeatability of the next growth and the unit price of the project. | Details |
| [G-Batons | 554A](/securities/554A/quarterly/2026-05-15-554A-2026Q4.html) | Full year ending March 2026 | Sales increased by 45.3%, operating income increased by 600.3%. With an operating profit margin of 18.1% and an ROIC of 21.4%, sales and profits are expected to increase in the next fiscal year as well, making the numbers outstanding for a small growth stock. | The scale of the business is still small, and profits tend to fluctuate due to fluctuations in the number of projects, advertising costs, and personnel costs. | Details |
| [Terra Probe | 6627](/securities/6627/quarterly/2026-05-15-6627-2026Q1.html) | 1Q of December 2026 | Sales increased by 37.5%, operating income increased by 83.1%. The operating profit margin was 25.2%, confirming the improvement in semiconductor inspection-related profits. | Easily affected by semiconductor market conditions, customer utilization rates, and capital investment cycles. | Details |
| [Kimura Koki | 6231](/securities/6231/quarterly/2026-05-15-6231-2026Q4.html) | Full year ending March 2026 | Sales increased by 11.7%, operating income increased by 24.8%. With an operating profit margin of 25.6% and an operating CF of 3.869 billion yen, the company is expected to increase sales and profits in the next fiscal year as well, making it highly profitable. | Profits related to air conditioning and equipment investment tend to fluctuate due to material prices, labor costs, and construction schedule management. | Details |
| [G-Cyber Security | 4493](/securities/4493/quarterly/2026-05-15-4493-2026Q1.html) | 1Q of the fiscal year ending December 2026 | Sales increased by 17.5%, operating income increased by 50.6%. The monetization of security demand is progressing with an operating profit margin of 26.0%, an equity ratio of 81.0%, and a progress rate of 30.2% towards the full-year operating profit plan. | It is not possible to judge full-year achievement based solely on the progress made as of Q1. I would like to check human resources investment, development costs, and competitive environment. | Details |
How to view top candidates
In the semiconductor/optical communications field, Kioxia HD, AI Mechatech, santec HD, and Tera Probe stand out.
KIOXIA HD has a large absolute amount of operating income, and you can also check the operating CF. AI Mechatech is making good progress against its full-year operating profit plan as of 3Q, and the numbers show strong demand for equipment. santecHD has strong financial standing with an operating profit margin of 32.8%, and Tera Probe's operating profit in the semiconductor testing field increased by 83.1% from 1Q.
This industry is strongly affected by business cycles, so performance is not constant.
As for medical devices, Asahi Intecc stands out with its balance of sales, operating income, and profit margin. While progress toward the full-year operating profit plan is high, the focus is on whether profit margins can be maintained in the next quarter as they are affected by regional demand and foreign exchange rates.
For IT/digital services, I chose Computer Science, DI, G-Batons, and G-Cyber Security. We can confirm an improvement in operating income in both cases, but DI does not disclose its next-term forecasts, and G-Batons is small in scale, so we need to carefully look at its reproducibility in the next fiscal year and beyond.
Features by sector
| Area | Main stocks | Features of this time | Risks to check |
|---|---|---|---|
| Semiconductors/Optical Communications | KIOXIA HD, AI Mechatech, santec HD, Tera Probe | Sales growth and operating profit growth are large | Market cycles, inventory, capital investment, foreign exchange |
| Medical equipment | Asahi Intecc | High operating profit margin and plan progress | Sales by region, product mix, R&D expenses |
| IT/Systems | Computer, DI | Operating income is increasing on sales growth | Project progress, profitability, personnel costs, next-year forecast |
| Digital services | G-Batons, G-Cyber Security | High profit margin or high growth can be confirmed | Small-cap stock fluctuations, advertising expenses, human resources investment, competition |
| Air conditioning/equipment | Kimura Koki | Solid profit margin and operating CF | Material prices, labor shortage, construction schedule management |
Financial statements that you should pay attention to
Although we did not include them in this 10 stocks, there are some additional financial results that we would like to confirm.
| Company name | Code | How to read |
|---|---|---|
| [G-Data Section | 3905](/securities/3905/quarterly/2026-05-15-3905-2026Q4.html) | While the sales growth and return to profitability are large, the scale of the next forecast is large, so we would like to confirm consistency with operating CF and reproducibility of profits. |
| [G-Headwater | 4011](/securities/4011/quarterly/2026-05-15-4011-2026Q1.html) | Sales increased by 70.8% and the business returned to the black, but progress toward the full-year plan is still slow, and it is necessary to confirm whether the emphasis is on the second half. |
| [G-kubell | 4448](/securities/4448/quarterly/2026-05-15-4448-2026Q1.html) | 63.8% increase in operating income and 18.1% operating profit margin are good, but the company's forecasts are not disclosed and we would like to further confirm continuity. |
| [Mitsubishi UFJ | 8306](/securities/8306/quarterly/2026-05-15-8306-2026Q4.html) | Although the scale of profits is large, financial institutions have different operating profit comparisons and cash flow evaluations than general companies, so I would like to check this separately. |
| [Hokuryo | 1384](/securities/1384/quarterly/2026-05-15-1384-2026Q4.html) | Sales increased by 19.1% and operating income increased by 157.8%, which is strong, but it is necessary to look at the impact of changes in egg prices and feed prices separately. |
It includes factors different from the earning power of the main business. Especially for stocks where only net income is moving significantly, it is necessary to check operating income, extraordinary gains and losses, and tax effects separately.
Points to check after tomorrow
The first thing I would like to confirm is the difference between the financial results and market expectations.
Even if there is strong profit growth, the stock price reaction may be limited for stocks for which expectations have been high in advance. On the other hand, if the return to profitability or the progress rate improves more than expected, this may provide material for review the following day.
Next are the assumptions for the company's forecasts.
In the semiconductor industry, order backlogs, customer investment attitudes, inventory adjustments, and exchange rates are important. In medical equipment and air conditioning equipment, profit margins are influenced by product mix, raw material costs, labor costs, and construction schedule management. For digital services, you want to check advertising expenses, human resources investment, cancellation rate, and unit price.
Lastly, there is consistency between operating income and cash flow.
Even if operating income is increasing, if trade receivables and inventory increase too much, there may be a financial burden. It is important to check the operating CF for stocks with full-year financial results, and the subsequent cash flow disclosure for stocks with quarterly financial results.
Summary
In the financial results for May 15, 2026, the strength of semiconductor/optical communication-related businesses and high-profit services was noticeable.
While Kioxia HD, AI Mechatech, santec HD, and Tera Probe are likely to reflect the recovery in semiconductor and optical communications and investment demand, it is important to note that they are susceptible to the effects of business cycles.
Asahi Intecc and Kimura Koki's strengths are high profit margins and easy-to-see plans. For Computer Science, DI, G-Batons, and G-Cyber Security, we can confirm that operating income growth is paralleling sales growth.
Rather than recommending short-term buying and selling, it is important to follow the company's next forecast, order/sales trends, and operating cash flow as confirmation candidates based on the financial results.
Source
This article is based on each company's financial statements, financial results briefing materials, etc. disclosed on May 15, 2026, and is based on a cross-sectional comparison of business performance, company forecasts, financial stability, and stock price indicators.
When using auxiliary market data such as stock price and PER, we check the reference source listed on each detail page.