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JFE Systems, Inc., First Half Ordinary Profit Decreases by 18%

Tue Oct 29, 2024 3:00 pm JST Earnings

4832 JFE Systems, Inc. 【J-GAAP】

Earnings Report

JFE Systems, Inc. <4832> [TSE-S] announced its financial results after the market closed on October 29th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 17.5% from the same period last year to 3.35 billion yen. However, The progress rate against the 6.7 billion yen full-year plan was 50.1%, also surpassing the five-year average of 45.4%.

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 decrease by 1.2% from the same period last year to 3.34 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.99 billion yen, a 11.8% decrease compared to the same period last year. The operating profit margin decreased from 14.5% in the same period last year to 13.1%.

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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 27,133 2,779 2,804 1,840 58.6 44.6 Oct 26, 2022 J-GAAP
Apr - Sep, 2023 30,799 4,046 4,067 2,704 86.1 54.6 Oct 26, 2023 J-GAAP
Apr - Sep, 2024 29,891 3,328 3,355 2,289 72.9 50.1 Oct 29, 2024 J-GAAP
YoY -2.9% -17.7% -17.5% -15.3% -15.3%

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 － 25.50 Apr 25, 2024 J-GAAP
Apr - Sep, 2024 Results 29,891 3,328 3,355 2,289 72.9 25.50 Oct 29, 2024 J-GAAP
Revision Rate － － － － －

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 31,234 3,356 3,385 2,265 72.1 28.50 Apr 25, 2024 J-GAAP
Oct - Mar, 2024 Guidance 32,239 3,312 3,345 2,261 72.0 25.50 Oct 29, 2024 J-GAAP
YoY +3.2% -1.3% -1.2% -0.2% -0.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 56,472 6,248 6,282 4,323 137.7 48.50 Apr 27, 2023 J-GAAP
Mar, 2024 62,033 7,402 7,452 4,969 158.2 60.50 Apr 25, 2024 J-GAAP
Mar, 2025 Guidance 62,130 6,640 6,700 4,550 144.9 51 Apr 25, 2024 J-GAAP
YoY +0.2% -10.3% -10.1% -8.4% -8.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 15,630 2,261 2,263 1,525 48.6 14.5 Oct 26, 2023 J-GAAP
Oct - Dec, 2023 15,653 1,998 2,021 1,361 43.3 12.8 Jan 26, 2024 J-GAAP
Jan - Mar, 2024 15,581 1,358 1,364 904 28.8 8.7 Apr 25, 2024 J-GAAP
Apr - Jun, 2024 14,673 1,328 1,359 862 27.4 9.1 Jul 26, 2024 J-GAAP
Jul - Sep, 2024 15,218 2,000 1,996 1,427 45.4 13.1 Oct 29, 2024 J-GAAP
YoY -2.6% -11.5% -11.8% -6.4% -6.4%

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