FUKUDA DENSHI CO.,LTD., First Half Ordinary Profit Decreases by 20%, July-September Ordinary Profit Decreases by 25%

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Thu Oct 31, 2024 3:00 pm JST Earnings

6960 FUKUDA DENSHI CO.,LTD. 【J-GAAP】

Earnings Report

FUKUDA DENSHI CO.,LTD. <6960> [TSE-S] 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 20.1% from the same period last year to 11.2 billion yen. The progress rate against the 23 billion yen full-year plan was 49.0%, almost the same as the five-year average of 46.5%.

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 8.9% from the same period last year to 11.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 6.61 billion yen, a 25.4% decrease compared to the same period last year. The operating profit margin decreased from 23.7% in the same period last year to 18.1%.

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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	62,628	11,070	11,662	8,119	268.4	46.5	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	66,541	13,951	14,099	9,810	324.3	52.2	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	64,314	10,654	11,262	7,706	267.3	49.0	Oct 31, 2024	J-GAAP
YoY	-3.3%	-23.6%	-20.1%	-21.4%	-17.6%

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	－	85	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	64,314	10,654	11,262	7,706	267.3	85	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	73,782	12,555	12,891	8,883	295.8	105	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	70,686	12,346	11,738	8,794	305.1	85	Oct 31, 2024	J-GAAP
YoY	-4.2%	-1.7%	-8.9%	-1.0%	+3.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	134,648	24,093	25,081	17,278	571.3	170	May 15, 2023	J-GAAP
Mar, 2024	140,323	26,506	26,990	18,693	622.4	185	May 15, 2024	J-GAAP
Mar, 2025 Guidance	135,000	23,000	23,000	16,500	572.4	170	May 15, 2024	J-GAAP
YoY	-3.8%	-13.2%	-14.8%	-11.7%	-8.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	37,361	8,850	8,872	6,315	208.8	23.7	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	32,717	5,335	5,504	3,826	126.5	16.3	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	41,065	7,220	7,387	5,057	168.4	17.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	30,341	4,515	4,647	3,031	105.2	14.9	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	33,973	6,139	6,615	4,675	162.2	18.1	Oct 31, 2024	J-GAAP
YoY	-9.1%	-30.6%	-25.4%	-26.0%	-22.3%