EIZO Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 24% Decrease

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Thu Oct 31, 2024 3:00 pm JST Earnings

6737 EIZO Corporation 【J-GAAP】

Earnings Report

EIZO Corporation <6737> [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) significantly dropped by 66.6% from the same period last year to 1.07 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 31.4%, from the previous forecast of 7 billion yen to 4.8 billion yen (compared to 6.32 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 24.1% decrease in profit.

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 grow by 19.4% from the same period last year, reaching 3.73 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 65 million yen, a 90.5% decrease compared to the same period last year. However, the operating profit margin improved from 3.1% in the same period last year to 4.2%.

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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	36,566	2,212	2,508	3,127	74.1	40.9	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	37,185	1,636	3,203	2,158	52.5	50.6	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	36,817	830	1,070	709	17.2	22.3	Oct 31, 2024	J-GAAP
YoY	-1.0%	-49.3%	-66.6%	-67.1%	-67.1%

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	－	52.50	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	36,817	830	1,070	709	17.2	52.50	Oct 31, 2024	J-GAAP
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	85,000	5,500	7,000	5,000	121.5	105	May 9, 2024	J-GAAP
Mar, 2025 New	81,000	4,000	4,800	3,400	82.6	105	Oct 31, 2024	J-GAAP
Revision Rate	-4.7%	-27.3%	-31.4%	-32.0%	-32.0%

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	43,286	2,272	3,123	3,296	80.1	50	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	44,183	3,170	3,730	2,691	65.4	52.50	Oct 31, 2024	J-GAAP
YoY	+2.1%	+39.5%	+19.4%	-18.4%	-18.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	80,849	5,002	6,126	5,862	140.5	62.50	May 12, 2023	J-GAAP
Mar, 2024	80,471	3,908	6,326	5,454	132.6	100	May 9, 2024	J-GAAP
Mar, 2025 Guidance	81,000	4,000	4,800	3,400	82.6	105	Oct 31, 2024	J-GAAP
YoY	+0.7%	+2.4%	-24.1%	-37.7%	-37.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	18,637	578	685	435	10.6	3.1	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	20,976	923	1,341	1,582	38.5	4.4	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	22,310	1,349	1,782	1,714	41.7	6.0	May 9, 2024	J-GAAP
Apr - Jun, 2024	18,197	57	1,005	725	17.6	0.3	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	18,620	773	65	-16	-0.4	4.2	Oct 31, 2024	J-GAAP
YoY	-0.1%	+33.7%	-90.5%	－	－