SEIKO ELECTRIC CO.,LTD., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 42%, July-September Ordinary Profit Increases by 61%

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Tue Oct 29, 2024 3:30 pm JST Earnings

6653 SEIKO ELECTRIC CO.,LTD. 【J-GAAP】

Earnings Report

SEIKO ELECTRIC CO.,LTD. <6653> [TSE-P] announced its financial results after the market closed on October 29th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 1.68 billion yen, an increase of 41.8% compared to the same period last year. The progress rate against the 2.05 billion yen full-year plan was 82.4%, also surpassing the five-year average of 55.7%.

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 42.2% from the same period last year to 361 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 61.3% from the same period last year, reaching 392 million yen. The operating profit margin improved from 3.6% in the same period last year to 5.5%.

Kabutan News

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	17,851	814	962	599	49.4	59.7	Oct 26, 2022	J-GAAP
Jan - Sep, 2023	18,603	1,062	1,191	782	64.4	65.6	Oct 25, 2023	J-GAAP
Jan - Sep, 2024	20,266	1,345	1,689	1,081	88.8	82.4	Oct 29, 2024	J-GAAP
YoY	+8.9%	+26.6%	+41.8%	+38.2%	+38.0%

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	14,515	780	868	584	48.1	17.50	Feb 8, 2024	J-GAAP
Jul - Dec, 2024 Guidance	15,763	987	753	506	37.5	20	Jul 30, 2024	J-GAAP
YoY	+8.6%	+26.5%	-13.2%	-13.4%	-22.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	25,007	1,440	1,612	1,082	89.3	30	Feb 1, 2023	J-GAAP
Dec, 2023	27,071	1,622	1,816	1,202	98.9	35	Feb 8, 2024	J-GAAP
Dec, 2024 Guidance	30,000	2,000	2,050	1,350	100.1	40	Feb 8, 2024	J-GAAP
YoY	+10.8%	+23.3%	+12.9%	+12.3%	+1.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,047	220	243	164	13.5	3.6	Oct 25, 2023	J-GAAP
Oct - Dec, 2023	8,468	560	625	420	34.6	6.6	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	7,836	770	997	674	55.4	9.8	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	6,401	243	300	170	14.0	3.8	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	6,029	332	392	237	19.5	5.5	Oct 29, 2024	J-GAAP
YoY	-0.3%	+50.9%	+61.3%	+44.5%	+44.3%