IBIDEN CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 5%

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Thu Oct 31, 2024 3:20 pm JST Earnings

4062 IBIDEN CO.,LTD. 【J-GAAP】

Earnings Report

IBIDEN CO.,LTD. <4062> [TSE-P] announced its financial results after the market closed on October 31st (15:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 10.1% from the same period last year, reaching 29.5 billion yen, resulting in an increase in profits compared to the previous forecast of a 29.2% decrease.

However, the full-year consolidated ordinary profit has downwardly by 4.8%, from the previous forecast of 42 billion yen to 40 billion yen (compared to 51.1 billion yen in the previous period), leading to an increase in the profit decline rate from 17.9% to 21.8%.

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 significant drop by 56.9% from the same period last year to 10.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 16.6 billion yen, an increase of 0.2% compared to the same period last year. The operating profit margin rose from 17.1% in the same period last year to 18.4%.

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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	213,579	41,404	45,536	31,812	227.8	59.8	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	187,640	24,072	26,824	17,892	128.1	52.5	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	181,585	28,512	29,531	20,527	146.9	73.8	Oct 31, 2024	J-GAAP
YoY	-3.2%	+18.4%	+10.1%	+14.7%	+14.7%

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	180,000	19,000	19,000	11,000	78.7	20	May 1, 2024	J-GAAP
Apr - Sep, 2024 Results	181,585	28,512	29,531	20,527	146.9	20	Oct 31, 2024	J-GAAP
Revision Rate	+0.9%	+50.1%	+55.4%	+86.6%	+86.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	390,000	42,000	42,000	26,000	186.1	40	May 1, 2024	J-GAAP
Mar, 2025 New	370,000	40,000	40,000	24,000	171.8	40	Oct 31, 2024	J-GAAP
Revision Rate	-5.1%	-4.8%	-4.8%	-7.7%	-7.7%

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	182,871	23,496	24,316	13,598	97.4	20	May 1, 2024	J-GAAP
Oct - Mar, 2024 Guidance	188,415	11,488	10,469	3,473	24.9	20	Oct 31, 2024	J-GAAP
YoY	+3.0%	-51.1%	-56.9%	-74.5%	-74.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	417,549	72,362	76,176	52,187	373.7	50	May 1, 2023	J-GAAP
Mar, 2024	370,511	47,568	51,140	31,490	225.4	40	May 1, 2024	J-GAAP
Mar, 2025 Guidance	370,000	40,000	40,000	24,000	171.8	40	Oct 31, 2024	J-GAAP
YoY	-0.1%	-15.9%	-21.8%	-23.8%	-23.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	93,039	15,891	16,627	10,604	75.9	17.1	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	92,527	12,875	13,583	9,503	68.0	13.9	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	90,344	10,621	10,733	4,095	29.3	11.8	May 1, 2024	J-GAAP
Apr - Jun, 2024	88,220	11,295	12,868	8,816	63.1	12.8	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	93,365	17,217	16,663	11,711	83.8	18.4	Oct 31, 2024	J-GAAP
YoY	+0.4%	+8.3%	+0.2%	+10.4%	+10.4%