FUJITSU GENERAL LIMITED, The Current Fiscal Year Net Income Revised Downward to a Loss

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Thu Oct 24, 2024 3:00 pm JST Earnings

6755 FUJITSU GENERAL LIMITED 【J-GAAP】

Earnings Report

FUJITSU GENERAL LIMITED <6755> [TSE-P] announced its financial results after the market closed on October 24th (15:00). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 10 billion yen (compared to a profit of 4.41 billion yen in the same period last year).

In addition, the full-year consolidated net income/loss has been revised downward from an expected profit of 6 billion yen to a loss of 7 billion yen (compared to a profit of 3.06 billion 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 net income/loss for the October to March period (second half) is expected to turn into a profit of 3.09 billion yen (compared to a loss of 1.34 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 11 billion yen (compared to a profit of 782 million yen in the same period last year). However, the operating profit margin remained almost flat, changing from 2.3% in the same period last year to 2.5%.

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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
Apr - Sep, 2022	182,975	2,485	7,809	4,977	47.5	44.8	Oct 26, 2022	J-GAAP
Apr - Sep, 2023	152,148	1,275	7,429	4,413	42.1	51.7	Oct 24, 2023	J-GAAP
Apr - Sep, 2024	171,559	3,005	1,637	-10,092	-96.4	20.5	Oct 24, 2024	J-GAAP
YoY	+12.8%	+135.7%	-78.0%	－	－

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	19	Apr 25, 2024	J-GAAP
Apr - Sep, 2024 Results	171,559	3,005	1,637	-10,092	-96.4	19	Oct 24, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	340,000	12,000	11,000	6,000	57.3	38	Apr 25, 2024	J-GAAP
Mar, 2025 New	360,000	10,000	8,000	-7,000	-66.8	38	Oct 24, 2024	J-GAAP
Revision Rate	+5.9%	-16.7%	-27.3%	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	164,328	4,472	6,946	-1,346	-12.9	18	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	188,441	6,995	6,363	3,092	29.5	19	Oct 24, 2024	J-GAAP
YoY	+14.7%	+56.4%	-8.4%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	371,019	15,098	17,432	8,694	83.0	34	Apr 27, 2023	J-GAAP
Mar, 2024	316,476	5,747	14,375	3,067	29.3	36	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	360,000	10,000	8,000	-7,000	-66.8	38	Oct 24, 2024	J-GAAP
YoY	+13.8%	+74.0%	-44.3%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	84,144	1,941	1,625	782	7.5	2.3	Oct 24, 2023	J-GAAP
Oct - Dec, 2023	62,348	-1,777	-2,632	-2,184	-20.9	-2.9	Jan 25, 2024	J-GAAP
Jan - Mar, 2024	101,980	6,249	9,578	838	8.0	6.1	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	79,661	716	2,647	981	9.4	0.9	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	91,898	2,289	-1,010	-11,073	-105.7	2.5	Oct 24, 2024	J-GAAP
YoY	+9.2%	+17.9%	－	－	－