CANON ELECTRONICS INC., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 18%, July-Septembe Ordinary Profit Increases by 14%

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Wed Oct 23, 2024 3:00 pm JST Earnings

7739 CANON ELECTRONICS INC. 【J-GAAP】

Earnings Report

CANON ELECTRONICS INC. <7739> [TSE-P] announced its financial results after the market closed on October 23rd (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 18.0% from the same period last year, reaching 6.99 billion yen. The progress rate against the 9.1 billion yen full-year plan was 76.9%, also surpassing the five-year average of 65.8%.

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 for the October to December period (4Q) is expected to drop by 30.7% from the same period last year to 2.1 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit grew by 14.1% from the same period last year, reaching 2.44 billion yen. The operating profit margin significantly improved from 9.3% in the same period last year to 13.7%.

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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
Jan - Sep, 2022	69,207	3,420	5,066	3,978	97.4	56.8	Oct 25, 2022	J-GAAP
Jan - Sep, 2023	71,376	4,613	5,927	4,687	114.7	66.1	Oct 25, 2023	J-GAAP
Jan - Sep, 2024	72,807	8,248	6,996	5,640	137.9	76.9	Oct 23, 2024	J-GAAP
YoY	+2.0%	+78.8%	+18.0%	+20.3%	+20.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	47,832	6,663	5,179	3,432	84.0	30	Jan 29, 2024	J-GAAP
Jul - Dec, 2024 Guidance	49,277	4,437	4,549	2,589	63.3	－	Jul 24, 2024	J-GAAP
YoY	+3.0%	-33.4%	-12.2%	-24.6%	-24.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	96,506	8,046	8,922	6,920	169.3	60	Jan 27, 2023	J-GAAP
Dec, 2023	96,321	9,142	8,963	6,566	160.6	60	Jan 29, 2024	J-GAAP
Dec, 2024 Guidance	97,000	9,250	9,100	6,160	150.6	－	Jan 29, 2024	J-GAAP
YoY	+0.7%	+1.2%	+1.5%	-6.2%	-6.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	22,887	2,134	2,143	1,553	38.0	9.3	Oct 25, 2023	J-GAAP
Oct - Dec, 2023	24,945	4,529	3,036	1,879	46.0	18.2	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	22,450	2,213	2,064	1,951	47.7	9.9	Apr 23, 2024	J-GAAP
Apr - Jun, 2024	25,273	2,600	2,487	1,620	39.6	10.3	Jul 24, 2024	J-GAAP
Jul - Sep, 2024	25,084	3,435	2,445	2,069	50.6	13.7	Oct 23, 2024	J-GAAP
YoY	+9.6%	+61.0%	+14.1%	+33.2%	+33.2%