WATTS CO., LTD., Last Fiscal Year Ordinary Profit Revised Upward by 23%, Dividend Revised Upward by 5 yen

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Thu Oct 3, 2024 3:30 pm JST Revision

2735 WATTS CO., LTD. 【J-GAAP】

Guidance Update Report

WATTS CO., LTD. <2735> [TSE-S] announced a revision to its performance and dividend after the market closed on October 3rd (15:30). The consolidated ordinary profit for the fiscal year ending August 2024 has been revised upward by 22.8%, from the previous forecast of 1 billion yen to 1.22 billion yen (compared to 648 million yen in the previous period), increasing the growth rate from 54.3% to 89.5%.

Based on the upwardly revised full-year plan announced by the company, our calculation indicates that the March to August period (second half) consolidated ordinary profit is expected to increase by 90.8%, from the previous forecast of 251 million yen to 479 million yen (compared to 378 million yen in the same period of the previous year), turning to a 26.7% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the last fiscal year from the original plan of 15 yen to 20 yen (compared to 15 yen in the previous period).

Kabutan News

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Prev	29,945	307	251	184	14.0	15	Mar 28, 2024	J-GAAP
Mar - Aug, 2024 New	31,002	503	479	468	35.4	20	Oct 3, 2024	J-GAAP
Revision Rate	+3.5%	+63.8%	+90.8%	+154.3%	+153.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2024 Prev	60,200	1,050	1,000	620	47.1	15	Mar 28, 2024	J-GAAP
Aug, 2024 New	61,257	1,246	1,228	904	68.5	20	Oct 3, 2024	J-GAAP
Revision Rate	+1.8%	+18.7%	+22.8%	+45.8%	+45.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2023	29,759	350	378	-42	-3.1	15	Oct 10, 2023	J-GAAP
Mar - Aug, 2024 Guidance	31,002	503	479	468	35.4	20	Oct 3, 2024	J-GAAP
YoY	+4.2%	+43.7%	+26.7%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2022	58,347	998	1,148	781	57.8	15	Oct 11, 2022	J-GAAP
Aug, 2023	59,309	621	648	250	18.5	15	Oct 10, 2023	J-GAAP
Aug, 2024 Guidance	61,257	1,246	1,228	904	68.5	20	Oct 3, 2024	J-GAAP
YoY	+3.3%	+100.6%	+89.5%	+261.6%	+270.8%