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Socionext Inc., First Half Ordinary Profit Decreases by 28%, July-September Ordinary Profit Decreases by 59%

Thu Oct 31, 2024 3:00 pm JST Earnings

6526 Socionext Inc. 【J-GAAP】

Earnings Report

Socionext Inc. <6526> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 28.4% from the same period last year to 14.6 billion yen. However, The progress rate against the 27 billion yen full-year plan was 54.2%, almost the same as the same period of the previous year of 55.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 25.9% from the same period last year to 12.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 3.82 billion yen, a 59.0% decrease compared to the same period last year. The operating profit margin decreased from 15.4% in the same period last year to 11.4%.

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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 82,767 10,456 12,295 10,013 59.5 52.5 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 116,988 18,676 20,448 15,293 87.9 55.1 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 99,181 15,556 14,637 11,586 64.7 54.2 Oct 31, 2024 J-GAAP
YoY -15.2% -16.7% -28.4% -24.2% -26.4%

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 － 25 Apr 26, 2024 J-GAAP
Apr - Sep, 2024 Results 99,181 15,556 14,637 11,586 64.7 25 Oct 31, 2024 J-GAAP
Revision Rate － － － － －

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 104,258 16,834 16,674 10,841 61.6 25 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 Guidance 100,819 11,444 12,363 7,914 44.6 25 Oct 31, 2024 J-GAAP
YoY -3.3% -32.0% -25.9% -27.0% -27.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 192,767 21,711 23,440 19,763 117.4 42 Apr 28, 2023 J-GAAP
Mar, 2024 221,246 35,510 37,122 26,134 148.4 48 Apr 26, 2024 J-GAAP
Mar, 2025 Guidance 200,000 27,000 27,000 19,500 109.8 50 Apr 26, 2024 J-GAAP
YoY -9.6% -24.0% -27.3% -25.4% -26.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 55,541 8,567 9,339 7,341 42.2 15.4 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 52,650 9,268 8,854 5,007 28.6 17.6 Jan 30, 2024 J-GAAP
Jan - Mar, 2024 51,608 7,566 7,820 5,834 33.1 14.7 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 52,783 10,265 10,808 7,574 42.3 19.4 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 46,398 5,291 3,829 4,012 22.4 11.4 Oct 31, 2024 J-GAAP
YoY -16.5% -38.2% -59.0% -45.3% -46.9%

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