Fenwal Controls of Japan,Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 27%, Exceeds Full-Year Plan

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Thu Oct 31, 2024 3:00 pm JST Earnings

6870 Fenwal Controls of Japan,Ltd. 【J-GAAP】

Earnings Report

Fenwal Controls of Japan,Ltd. <6870> [TSE-S] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 27.1% from the same period last year, reaching 1.01 billion yen. The progress rate against the full-year plan of 944 million yen is 107.8%, already exceeding the target and also exceeding the five-year average of 73.2%.

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/loss for the October to December period (4Q) is expected to turn into a loss of 74 million yen (compared to a profit of 358 million yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a loss of 104 million yen (compared to a profit of 130 million yen in the same period last year). The operating profit/loss margin drastically worsened from 4.0% in the same period last year to -0.4%.

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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	8,505	589	728	202	36.2	49.2	Oct 28, 2022	J-GAAP
Jan - Sep, 2023	9,083	705	801	46	8.3	69.1	Oct 31, 2023	J-GAAP
Jan - Sep, 2024	8,882	969	1,018	851	151.9	107.8	Oct 31, 2024	J-GAAP
YoY	-2.2%	+37.4%	+27.1%	+1,750.0%	+1,730.1%

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	6,115	434	488	106	19.0	72	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	6,294	-71	-178	-414	-73.8	37	Jul 30, 2024	J-GAAP
YoY	+2.9%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	12,401	1,310	1,479	826	147.6	70	Feb 10, 2023	J-GAAP
Dec, 2023	12,601	1,035	1,159	385	68.8	72	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	12,790	907	944	508	90.6	74	Feb 9, 2024	J-GAAP
YoY	+1.5%	-12.4%	-18.6%	+31.9%	+31.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,597	104	130	-233	-42.0	4.0	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	3,518	330	358	339	60.6	9.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	3,656	605	662	554	98.9	16.5	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	2,840	373	460	368	65.7	13.1	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	2,386	-9	-104	-71	-12.7	-0.4	Oct 31, 2024	J-GAAP
YoY	-8.1%	－	－	+69.5%	+69.9%