AICHI ELECTRIC CO.,LTD., First Half Ordinary Profit Increases by 5%, July-September Ordinary Profit Increases by 11%

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Thu Oct 31, 2024 2:40 pm JST Earnings

6623 AICHI ELECTRIC CO.,LTD. 【J-GAAP】

Earnings Report

AICHI ELECTRIC CO.,LTD. <6623> [NSE-P] announced its financial results in the afternoon session on October 31st (14:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 4.8% from the same period last year, reaching 4.55 billion yen. The progress rate against the 7 billion yen full-year plan was 65.1%, also surpassing the five-year average of 50.1%.

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 38.3% from the same period last year to 2.44 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 10.8% from the same period last year, reaching 2.13 billion yen. The operating profit margin improved from 4.9% in the same period last year to 6.8%.

Kabutan News

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	55,281	4,649	5,960	3,837	404.4	67.8	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	53,788	3,258	4,347	3,015	317.8	52.3	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	57,930	4,074	4,555	3,205	340.7	65.1	Oct 31, 2024	J-GAAP
YoY	+7.7%	+25.0%	+4.8%	+6.3%	+7.2%

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	58,000	3,800	4,500	3,200	340.6	80	Jul 30, 2024	J-GAAP
Apr - Sep, 2024 Results	57,930	4,074	4,555	3,205	340.7	80	Oct 31, 2024	J-GAAP
Revision Rate	-0.1%	+7.2%	+1.2%	+0.2%	+0.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	120,000	7,000	7,000	4,800	511.0	160	Apr 30, 2024	J-GAAP
Mar, 2025 New	117,000	7,000	7,000	4,800	511.0	160	Oct 31, 2024	J-GAAP
Revision Rate	-2.5%	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	56,807	3,801	3,965	2,922	307.9	80	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	59,070	2,926	2,445	1,595	169.8	80	Oct 31, 2024	J-GAAP
YoY	+4.0%	-23.0%	-38.3%	-45.4%	-44.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	114,286	7,504	8,793	5,954	627.4	160	Apr 28, 2023	J-GAAP
Mar, 2024	110,595	7,059	8,312	5,937	625.6	160	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	117,000	7,000	7,000	4,800	511.0	160	Oct 31, 2024	J-GAAP
YoY	+5.8%	-0.8%	-15.8%	-19.2%	-18.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	27,078	1,328	1,924	1,336	140.8	4.9	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	28,925	2,187	2,104	1,480	156.0	7.6	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	27,882	1,614	1,861	1,442	151.9	5.8	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	26,077	1,913	2,424	1,657	175.8	7.3	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	31,853	2,161	2,131	1,548	164.5	6.8	Oct 31, 2024	J-GAAP
YoY	+17.6%	+62.7%	+10.8%	+15.9%	+16.9%