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FUJI SEIKO LIMITED, The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

Wed Oct 9, 2024 3:00 pm JST Earnings

6142 FUJI SEIKO LIMITED 【J-GAAP】

Earnings Report

FUJI SEIKO LIMITED <6142> [NSE-M] announced its financial results in the afternoon session on October 9th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) significantly dropped by 91.9% from the same period last year to 47 million yen.

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 270 million yen to a loss of 290 million yen (compared to a profit of 924 million yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the September to February period (second half) is expected to turn into a loss of 337 million yen (compared to a profit of 342 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit/loss turned to a loss of 48 million yen (compared to a profit of 292 million yen in the same period last year). The operating profit/loss margin drastically worsened from 2.2% in the same period last year to -2.4%.

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
Mar - Aug, 2022 10,584 145 607 351 98.2 90.5 Oct 12, 2022 J-GAAP
Mar - Aug, 2023 10,723 298 582 392 109.8 63.0 Oct 11, 2023 J-GAAP
Mar - Aug, 2024 9,995 -203 47 -440 -123.2 Oct 9, 2024 J-GAAP
YoY -6.8% -91.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance 10,110 -150 40 -570 -159.4 25 Apr 10, 2024 J-GAAP
Mar - Aug, 2024 Results 9,995 -203 47 -440 -123.2 25 Oct 9, 2024 J-GAAP
Revision Rate -1.1% -35.3% +17.5% +22.8% +22.7%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2025 Prev 20,640 -90 270 -490 -137.0 50 Apr 10, 2024 J-GAAP
Feb, 2025 New 18,720 -680 -290 -1,210 -338.3 50 Oct 9, 2024 J-GAAP
Revision Rate -9.3% -655.6% -146.9% -146.9%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 10,701 133 342 -218 -61.0 25 Apr 10, 2024 J-GAAP
Sep - Feb, 2024 Guidance 8,725 -477 -337 -770 -215.3 25 Oct 9, 2024 J-GAAP
YoY -18.5% -253.2% -252.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 19,747 59 671 188 52.7 50 Apr 12, 2023 J-GAAP
Feb, 2024 21,424 431 924 174 48.7 50 Apr 10, 2024 J-GAAP
Feb, 2025 Guidance 18,720 -680 -290 -1,210 -338.3 50 Oct 9, 2024 J-GAAP
YoY -12.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 5,691 126 292 212 59.4 2.2 Oct 11, 2023 J-GAAP
Sep - Nov, 2023 5,601 201 341 243 67.9 3.6 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 5,100 -68 1 -461 -129.0 -1.3 Apr 10, 2024 J-GAAP
Mar - May, 2024 4,800 -77 95 55 15.4 -1.6 Jul 11, 2024 J-GAAP
Jun - Aug, 2024 5,195 -126 -48 -495 -138.6 -2.4 Oct 9, 2024 J-GAAP
YoY -8.7%

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