OKANO VALVE MFG.CO.LTD., December-August (Third Quarter Cumulative) Ordinary Profit Increases by 2.5 times, Exceeds Full-Year Plan

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Fri Oct 4, 2024 3:00 pm JST Earnings

6492 OKANO VALVE MFG.CO.LTD. 【J-GAAP】

Earnings Report

OKANO VALVE MFG.CO.LTD. <6492> [TSE-S] announced its financial results after the market closed on October 4th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending November 2024 (December 2023 to August 2024) surged by 2.5 times that of the same period last year, reaching 1.23 billion yen. The progress rate for full-year plan of 980 million yen has already exceeded 126.2%, and has also exceeded the five-year average of 47.3%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the September to November period (4Q) is expected to turn into a loss of 257 million yen (compared to a profit of 411 million yen in the same period last year).

In the most recent three-month period, from June to August (3Q), the consolidated ordinary profit increased by 66.8% from the same period last year, reaching 402 million yen. The operating profit margin jumped from 10.9% in the same period last year to 20.7%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Dec - Aug, 2021	4,539	140	198	168	101.1	35.2	Oct 7, 2022	J-GAAP
Dec - Aug, 2022	5,016	416	499	422	261.8	54.8	Oct 6, 2023	J-GAAP
Dec - Aug, 2023	5,709	1,163	1,237	866	541.5	126.2	Oct 4, 2024	J-GAAP
YoY	+13.8%	+179.6%	+147.9%	+105.2%	+106.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2023	4,331	608	652	460	286.3	30	Jan 12, 2024	J-GAAP
Jun - Nov, 2024 Guidance	3,736	118	145	55	34.3	20	Jun 19, 2024	J-GAAP
YoY	-13.7%	-80.6%	-77.8%	-88.0%	-88.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2022	6,887	488	562	483	290.8	20	Jan 13, 2023	J-GAAP
Nov, 2023	7,407	812	910	697	433.8	30	Jan 12, 2024	J-GAAP
Nov, 2024 Guidance	7,506	880	980	650	405.7	40	Jun 19, 2024	J-GAAP
YoY	+1.3%	+8.4%	+7.7%	-6.7%	-6.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	1,940	212	241	185	114.8	10.9	Oct 6, 2023	J-GAAP
Sep - Nov, 2023	2,391	396	411	275	171.2	16.6	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	1,570	269	325	241	151.3	17.1	Apr 5, 2024	J-GAAP
Mar - May, 2024	2,200	493	510	354	221.5	22.4	Jul 5, 2024	J-GAAP
Jun - Aug, 2024	1,939	401	402	271	169.5	20.7	Oct 4, 2024	J-GAAP
YoY	-0.1%	+89.2%	+66.8%	+46.5%	+47.6%