ISHII HYOKI CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 37%

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Thu Sep 12, 2024 2:00 pm JST Earnings

6336 ISHII HYOKI CO.,LTD. 【J-GAAP】

Earnings Report

ISHII HYOKI CO.,LTD. <6336> [TSE-S] announced its financial results in the afternoon session on September 12th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending January 2025 (February to July) dropped by 49.4% from the same period last year to 505 million yen.

The full-year consolidated ordinary profit has downwardly by 36.6%, from the previous forecast of 1.31 billion yen to 835 million yen (compared to 1.72 billion yen in the previous period), leading to an increase in the profit decline rate from 23.5% to 51.5%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the August to January period (second half) is expected to significant drop by 54.4% from the same period last year to 330 million yen.

In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit amounted to 405 million yen, an increase of 1.0% compared to the same period last year. The operating profit margin improved from 8.6% in the same period last year to 9.3%.

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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	7,075	554	480	373	45.8	23.8	Sep 9, 2022	J-GAAP
Feb - Jul, 2023	8,480	896	998	806	98.9	58.0	Sep 8, 2023	J-GAAP
Feb - Jul, 2024	7,477	448	505	355	43.6	60.5	Sep 12, 2024	J-GAAP
YoY	-11.8%	-50.0%	-49.4%	-56.0%	-55.9%

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	8,433	573	548	439	53.9	0	Mar 15, 2024	J-GAAP
Feb - Jul, 2024 Results	7,477	448	505	355	43.6	0	Sep 12, 2024	J-GAAP
Revision Rate	-11.3%	-21.8%	-7.8%	-19.1%	-19.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2025 Prev	16,600	1,319	1,316	1,071	131.4	15	Mar 15, 2024	J-GAAP
Jan, 2025 New	14,347	732	835	620	76.1	15	Sep 12, 2024	J-GAAP
Revision Rate	-13.6%	-44.5%	-36.6%	-42.1%	-42.1%

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	8,249	684	723	295	36.2	15	Mar 15, 2024	J-GAAP
Aug - Jan, 2024 Guidance	6,870	284	330	265	32.5	15	Sep 12, 2024	J-GAAP
YoY	-16.7%	-58.5%	-54.4%	-10.2%	-10.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	18,222	2,015	2,016	1,639	201.1	10	Mar 17, 2023	J-GAAP
Jan, 2024	16,729	1,580	1,721	1,101	135.1	15	Mar 15, 2024	J-GAAP
Jan, 2025 Guidance	14,347	732	835	620	76.1	15	Sep 12, 2024	J-GAAP
YoY	-14.2%	-53.7%	-51.5%	-43.7%	-43.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	3,713	318	401	351	43.1	8.6	Sep 8, 2023	J-GAAP
Aug - Oct, 2023	3,802	285	296	206	25.3	7.5	Dec 8, 2023	J-GAAP
Nov - Jan, 2023	4,447	399	427	89	10.9	9.0	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	3,190	50	100	75	9.3	1.6	Jun 11, 2024	J-GAAP
May - Jul, 2024	4,287	398	405	280	34.4	9.3	Sep 12, 2024	J-GAAP
YoY	+15.5%	+25.2%	+1.0%	-20.2%	-20.1%