AISIN CORPORATION, The Current Fiscal Year Net Income Revised Downward by 23%

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Thu Oct 31, 2024 1:00 pm JST Earnings

7259 AISIN CORPORATION 【IFRS】

Earnings Report

AISIN CORPORATION <7259> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on October 31st (13:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 88.4% from the same period last year to 8.06 billion yen.

In addition, the full-year consolidated net income has downwardly by 23.1%, from the previous forecast of 130 billion yen to 100 billion yen (compared to 90.8 billion yen in the previous period), leading to a reduction in the profit growth rate from 43.2% to 10.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to surge by 4.3 times that of the same period last year, reaching 91.9 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 5.61 billion yen (compared to a profit of 28.6 billion yen in the same period last year). The operating profit margin worsened from 4.5% in the same period last year to 1.9%.

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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	2,106,616	26,633	54,902	31,922	39.5	74.5	Oct 28, 2022	IFRS
Apr - Sep, 2023	2,454,701	90,850	108,220	69,645	86.1	72.2	Oct 31, 2023	IFRS
Apr - Sep, 2024	2,352,507	56,199	19,569	8,069	10.1	11.9	Oct 31, 2024	IFRS
YoY	-4.2%	-38.1%	-81.9%	-88.4%	-88.3%

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	－	30	Apr 26, 2024	IFRS
Apr - Sep, 2024 Results	2,352,507	56,199	19,569	8,069	10.1	30	Oct 31, 2024	IFRS
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	4,920,000	220,000	225,000	130,000	171.0	60	Jun 27, 2024	IFRS
Mar, 2025 New	4,800,000	200,000	165,000	100,000	131.6	60	Oct 31, 2024	IFRS
Revision Rate	-2.4%	-9.1%	-26.7%	-23.1%	-23.1%

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	2,454,856	52,546	41,657	21,168	26.2	30	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	2,447,493	143,801	145,431	91,931	120.9	30	Oct 31, 2024	IFRS
YoY	-0.3%	+173.7%	+249.1%	+334.3%	+362.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,402,823	57,942	73,741	37,670	46.6	56.67	Apr 27, 2023	IFRS
Mar, 2024	4,909,557	143,396	149,877	90,813	112.3	56.67	Apr 26, 2024	IFRS
Mar, 2025 Guidance	4,800,000	200,000	165,000	100,000	131.6	60	Oct 31, 2024	IFRS
YoY	-2.2%	+39.5%	+10.1%	+10.1%	+17.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,262,977	56,383	53,756	28,655	35.4	4.5	Oct 31, 2023	IFRS
Oct - Dec, 2023	1,274,039	2,935	-2,692	-2,246	-2.8	0.2	Feb 2, 2024	IFRS
Jan - Mar, 2024	1,180,817	49,611	44,349	23,414	29.0	4.2	Apr 26, 2024	IFRS
Apr - Jun, 2024	1,184,139	33,703	21,974	13,681	16.9	2.8	Jul 31, 2024	IFRS
Jul - Sep, 2024	1,168,368	22,496	-2,405	-5,612	-7.0	1.9	Oct 31, 2024	IFRS
YoY	-7.5%	-60.1%	－	－	－