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FUJI ELECTRIC INDUSTRY CO., LTD., First Half Ordinary Profit Increases by 11%, 2Q (May-July) Ordinary Profit Increases by 31%

Tue Sep 3, 2024 4:30 pm JST Earnings

6654 FUJI ELECTRIC INDUSTRY CO., LTD. 【J-GAAP】

Earnings Report

FUJI ELECTRIC INDUSTRY CO., LTD. <6654> [TSE-S] announced its financial results after the market closed on September 3rd (16:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending January 2025 (February to July) increased by 10.8% from the same period last year, reaching 236 million yen. This progress accounts for 78.7% of the full-year plan of 300 million yen, also surpassing the five-year average of 49.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the August to January period (second half) is expected to significant drop by 69.8% from the same period last year to 64 million yen.

In the most recent three-month period, from May to July (2Q), the ordinary profit increased by 31.3% from the same period last year, reaching 130 million yen. The operating profit margin rose from 10.7% in the same period last year to 11.5%.

Kabutan News

Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Feb - Jul, 2022 1,890 190 207 145 25.6 55.3 Sep 6, 2022 J-GAAP
Feb - Jul, 2023 1,824 200 213 218 39.4 50.1 Sep 5, 2023 J-GAAP
Feb - Jul, 2024 1,990 219 236 159 28.7 78.7 Sep 3, 2024 J-GAAP
YoY +9.1% +9.5% +10.8% -27.1% -27.0%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb - Jul, 2024 Guidance 1,990 219 236 159 28.6 16 Aug 28, 2024 J-GAAP
Feb - Jul, 2024 Results 1,990 219 236 159 28.7 16 Sep 3, 2024 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% +0.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2023 1,899 199 212 131 23.7 19 Mar 12, 2024 J-GAAP
Aug - Jan, 2024 Guidance 1,795 63 64 50 9.3 16 Aug 28, 2024 J-GAAP
YoY -5.5% -68.3% -69.8% -61.8% -60.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2023 3,707 350 374 262 46.8 32 Mar 9, 2023 J-GAAP
Jan, 2024 3,723 399 425 349 63.1 35 Mar 12, 2024 J-GAAP
Jan, 2025 Guidance 3,785 282 300 209 39.0 32 Jun 4, 2024 J-GAAP
YoY +1.7% -29.3% -29.4% -40.1% -38.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
May - Jul, 2023 866 93 99 67 12.1 10.7 Sep 5, 2023 J-GAAP
Aug - Oct, 2023 923 96 101 72 13.0 10.4 Dec 5, 2023 J-GAAP
Nov - Jan, 2023 976 103 111 59 10.7 10.6 Mar 12, 2024 J-GAAP
Feb - Apr, 2024 979 103 106 73 13.2 10.5 Jun 4, 2024 J-GAAP
May - Jul, 2024 1,011 116 130 86 15.5 11.5 Sep 3, 2024 J-GAAP
YoY +16.7% +24.7% +31.3% +28.4% +28.4%

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