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SHIMA SEIKI MFG., LTD., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Loss Widens

Thu Oct 31, 2024 3:10 pm JST Earnings

6222 SHIMA SEIKI MFG., LTD. 【J-GAAP】

Earnings Report

SHIMA SEIKI MFG., LTD. <6222> [TSE-P] announced its financial results after the market closed on October 31st (15:10). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 2.03 billion yen (compared to a profit of 564 million yen in the same period last year).

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 surge by 9.3 times that of the same period last year, reaching 4.23 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 1.69 billion yen (compared to a loss of 354 million yen in the same period last year). The operating profit/loss margin drastically worsened from -4.4% in the same period last year to -21.5%.

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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 17,918 -435 -207 -511 -14.8 ー Oct 31, 2022 J-GAAP
Apr - Sep, 2023 19,169 367 564 368 10.7 55.4 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 14,771 -1,938 -2,035 -2,124 -61.6 ー Oct 31, 2024 J-GAAP
YoY -22.9% － － － －

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 14,900 -2,100 -2,200 -2,250 -65.2 5 Sep 20, 2024 J-GAAP
Apr - Sep, 2024 Results 14,771 -1,938 -2,035 -2,124 -61.6 5 Oct 31, 2024 J-GAAP
Revision Rate -0.9% +7.7% +7.5% +5.6% +5.6%

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 16,741 63 454 662 19.2 5 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 29,229 3,438 4,235 3,824 110.8 10 Oct 31, 2024 J-GAAP
YoY +74.6% +5,357.1% +832.8% +477.6% +477.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 37,886 -2,184 -1,700 -5,644 -163.5 10 May 10, 2023 J-GAAP
Mar, 2024 35,910 430 1,018 1,030 29.9 10 May 10, 2024 J-GAAP
Mar, 2025 Guidance 44,000 1,500 2,200 1,700 49.3 15 Sep 20, 2024 J-GAAP
YoY +22.5% +248.8% +116.1% +65.0% +65.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 7,474 -328 -354 -372 -10.8 -4.4 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 7,113 391 634 617 17.9 5.5 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 9,628 -328 -180 45 1.3 -3.4 May 10, 2024 J-GAAP
Apr - Jun, 2024 8,061 -493 -343 -380 -11.0 -6.1 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 6,710 -1,445 -1,692 -1,744 -50.6 -21.5 Oct 31, 2024 J-GAAP
YoY -10.2% -340.5% -378.0% -368.8% -368.1%

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