v3.26.1
Segment Information
 12 Months Ended
Mar. 31, 2026
Segment Information [Abstract]  
Segment Information

16. Segment Information

 

Segment information is prepared on the same basis that our CEO, who is our Chief Operating Decision Maker (“CODM”), manages the segments, evaluates financial results, and makes key operating decisions. The CODM evaluates the performance of its operating segments based on net revenues, operating income and income before taxes. The accounting policies of the operating segments are the same as those described in Note 2, “SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.”

 

The Company has two reportable segments: plastic injection molding and electronic products assembling. The Company’s reportable segments are strategic business units that offer different products and services. They are managed separately because each business requires different technology and marketing strategies. Most of the businesses were acquired as a unit, and the management at the time of the acquisition was retained.

 

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current market prices.

 

Contributions of the major activities, profitability information and asset information of the Company’s reportable segments for the years ended March 31, 2024, 2025 and 2026 are as follows:

 

    Year ended March 31,  
    2024     2025     2026  
Net sales                  
Injection molded plastic parts     12,391       11,206       8,947  
Electronic products     56,977       56,404       52,385  
Total net sales   $ 69,368     $ 67,610     $ 61,332  
                         
Cost of sales, operating expenses and other income                        
Injection molded plastic parts     13,262       12,516       10,697  
Electronic products     51,059       50,432       46,401  
Corporate expenses     1,262       1,348       2,253  
Total cost of sales, operating expenses and other income   $ 65,583     $ 64,296     $ 59,351  
                         
Operating income (loss)                        
Injection molded plastic parts     (871 )     (1,310 )     (1,750 )
Electronic products     5,918       5,972       5,984  
Corporate expenses     (1,262 )     (1,348 )     (2,253 )
Total operating income   $ 3,785     $ 3,314     $ 1,981  
Income (loss) before income taxes                        
Injection molded plastic parts     2,308       5,024       4,554  
Electronic products     6,773       7,624       7,963  
Corporate expenses     (1,262 )     (1,348 )     (2,253 )
Total income before taxes   $ 7,819     $ 11,300     $ 10,264  

 

    Year ended March 31,  
    2024     2025     2026  
    Interest
income
from bank
deposits		     Interest
expenses		     Interest
income
from bank
deposits		     Interest
expenses		     Interest
income
from bank
deposits		     Interest
expenses		  
Segment:                                    
Injection molded plastic parts   $ 423     $ —     $ 584     $ —     $ 844     $ —  
Electronic products     246       —       468       —       598       —  
Consolidated total   $ 669     $ —     $ 1,052     $ —     $ 1,442     $ —  

 

    Year ended March 31,  
    2024     2025     2026  
    Identifiable assets     Capital expenditure     Depreciation and amortization     Identifiable assets     Capital expenditure     Depreciation and amortization     Identifiable assets     Capital expenditure     Depreciation and amortization  
Segment:                                                      
Injection molded plastic parts   $ 62,760     $ 26     $ 1,048     $ 72,144     $ 163     $ 1,009     $ 75,244     $ 131     $ 969  
Electronic products     48,316       355       475       48,064       169       510       54,720       350       515  
Consolidated totals   $ 111,076     $ 381     $ 1,523     $ 120,208     $ 332     $ 1,519     $ 129,964     $ 481     $ 1,484  

 

The breakdown of sales by destination is analyzed as follows:

 

    Year ended March 31,  
    2024     2025     2026  
Net sales                  
United States of America   $ 7,925     $ 6,081     $ 7,554  
PRC     22,121       22,448       18,314  
United Kingdom     11,985       10,917       10,453  
Hong Kong     8,225       6,908       6,385  
Europe     10,016       12,546       9,286  
Canada     2,988       3,882       5,086  
Others     6,108       4,828       4,254  
Total net sales   $ 69,368     $ 67,610     $ 61,332  

 

The location of the Company’s long-lived assets is as follows:

 

    March 31,  
    2025     2026  
Hong Kong and Macao   $ 2     $ 2  
PRC     23,383       22,324  
Total long-lived assets   $ 23,385     $ 22,326