Stanley Electric Co.,Ltd., July-September (2Q) Ordinary Profit Decreases by 23%, Current Fiscal Year Dividend Revised Upward by 3 yen

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Mon Oct 28, 2024 3:00 pm JST Earnings

6923 Stanley Electric Co.,Ltd. 【J-GAAP】

Earnings Report

Stanley Electric Co.,Ltd. <6923> [TSE-P] announced its financial results after the market closed on October 28th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 8.7% from the same period last year, reaching 21.9 billion yen. However, The progress rate against the 56.2 billion yen full-year plan was 39.0%, also falling below the five-year average of 47.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 22.9% from the same period last year, reaching 34.2 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 61 yen to 64 yen (compared to 55 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 10.2 billion yen, a 22.9% decrease compared to the same period last year. The operating profit margin worsened from 9.1% in the same period last year to 7.9%.

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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	213,959	15,488	20,052	10,302	64.4	44.7	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	226,163	14,077	20,186	8,015	48.8	42.0	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	243,987	19,197	21,937	11,378	71.2	39.0	Oct 28, 2024	J-GAAP
YoY	+7.9%	+36.4%	+8.7%	+42.0%	+46.0%

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	230,000	18,600	21,500	9,400	59.1	30	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	243,987	19,197	21,937	11,378	71.2	32	Oct 28, 2024	J-GAAP
Revision Rate	+6.1%	+3.2%	+2.0%	+21.0%	+20.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	500,000	50,000	56,200	31,100	203.1	61	Apr 26, 2024	J-GAAP
Mar, 2025 New	500,000	50,000	56,200	31,100	203.1	64	Oct 28, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	246,234	21,757	27,878	18,482	113.3	28	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	256,013	30,803	34,263	19,722	128.8	32	Oct 28, 2024	J-GAAP
YoY	+4.0%	+41.6%	+22.9%	+6.7%	+13.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	439,574	36,710	44,872	26,496	162.3	50	Apr 27, 2023	J-GAAP
Mar, 2024	472,397	35,834	48,064	26,497	162.4	55	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	500,000	50,000	56,200	31,100	203.1	64	Oct 28, 2024	J-GAAP
YoY	+5.8%	+39.5%	+16.9%	+17.4%	+25.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	114,437	10,413	13,259	5,668	34.5	9.1	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	129,235	13,337	14,719	5,806	35.4	10.3	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	116,999	8,420	13,159	12,676	77.7	7.2	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	121,441	9,535	11,714	5,824	36.3	7.9	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	122,546	9,662	10,223	5,554	34.8	7.9	Oct 28, 2024	J-GAAP
YoY	+7.1%	-7.2%	-22.9%	-2.0%	+0.8%