Oi Electric Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 38%

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Wed Oct 30, 2024 3:30 pm JST Earnings

6822 Oi Electric Co.,Ltd. 【J-GAAP】

Earnings Report

Oi Electric Co.,Ltd. <6822> [TSE-S] announced its financial results after the market closed on October 30th (15:30). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was a reduced loss of 23 million yen (compared to a loss of 504 million yen in the same period last year), a reduction in the deficit from the previous forecast of a loss of 310 million yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 37.7%, from the previous forecast of 530 million yen to 730 million yen (compared to 839 million yen in the previous period), and the declining rate is expected to decrease from 36.8% to 13.0%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 43.9% from the same period last year to 753 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 254 million yen, a 15.9% decrease compared to the same period last year. The operating profit margin worsened from 5.4% in the same period last year to 3.9%.

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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	8,304	-1,350	-1,355	-1,273	-979.1	ー	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	10,202	-442	-504	-354	-272.6	ー	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	10,776	-16	-23	-59	-45.9	ー	Oct 30, 2024	J-GAAP
YoY	+5.6%	+96.4%	+95.4%	+83.3%	+83.2%

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	10,600	-300	-310	-220	-167.3	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	10,776	-16	-23	-59	-45.9	0	Oct 30, 2024	J-GAAP
Revision Rate	+1.7%	+94.7%	+92.6%	+73.2%	+72.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	27,000	550	530	300	228.1	0	May 14, 2024	J-GAAP
Mar, 2025 New	27,300	750	730	520	395.4	0	Oct 30, 2024	J-GAAP
Revision Rate	+1.1%	+36.4%	+37.7%	+73.3%	+73.3%

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	17,915	1,361	1,343	1,113	855.4	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	16,524	766	753	579	440.3	0	Oct 30, 2024	J-GAAP
YoY	-7.8%	-43.7%	-43.9%	-48.0%	-48.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	22,926	-466	-439	-811	-624.0	0	May 12, 2023	J-GAAP
Mar, 2024	28,117	919	839	759	583.3	0	May 14, 2024	J-GAAP
Mar, 2025 Guidance	27,300	750	730	520	395.4	0	Oct 30, 2024	J-GAAP
YoY	-2.9%	-18.4%	-13.0%	-31.5%	-32.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,207	333	302	299	230.3	5.4	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	6,476	334	339	235	180.7	5.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	11,439	1,027	1,004	878	674.8	9.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,894	-247	-277	-231	-178.0	-5.0	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	5,882	231	254	172	133.7	3.9	Oct 30, 2024	J-GAAP
YoY	-5.2%	-30.6%	-15.9%	-42.5%	-41.9%