SEIRYO ELECTRIC CORPORATION, First Half Ordinary Profit Loss Widens, July-September Ordinary Profit Turns to Loss

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Fri Nov 1, 2024 2:00 pm JST Earnings

4341 SEIRYO ELECTRIC CORPORATION 【J-GAAP】

Earnings Report

SEIRYO ELECTRIC CORPORATION <4341> [TSE-S] announced its financial results in the afternoon session on November 1st (14:00). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to a loss of 275 million yen (compared to a loss of 178 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 grow by 24.7% from the same period last year, reaching 475 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 34 million yen (compared to a profit of 60 million yen in the same period last year). The operating profit/loss margin worsened from 1.3% in the same period last year to -0.8%.

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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	6,873	-323	-323	-114	-32.7	ー	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	7,285	-181	-178	-182	-52.2	ー	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	7,738	-276	-275	-361	-103.4	ー	Nov 1, 2024	J-GAAP
YoY	+6.2%	-52.5%	-54.5%	-98.4%	-98.0%

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	－	－	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	7,738	-276	-275	-361	-103.4	0	Nov 1, 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	11,204	376	381	466	133.7	40	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	11,262	476	475	471	134.7	－	Nov 1, 2024	J-GAAP
YoY	+0.5%	+26.6%	+24.7%	+1.1%	+0.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,024	10	14	-326	-93.4	10	May 12, 2023	J-GAAP
Mar, 2024	18,489	195	203	284	81.5	40	May 14, 2024	J-GAAP
Mar, 2025 Guidance	19,000	200	200	110	31.5	－	May 14, 2024	J-GAAP
YoY	+2.8%	+2.6%	-1.5%	-61.3%	-61.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,449	60	60	60	17.2	1.3	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	4,396	142	154	118	34.1	3.2	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	6,808	234	227	348	99.8	3.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	3,415	-243	-241	-331	-94.8	-7.1	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	4,323	-33	-34	-30	-8.6	-0.8	Nov 1, 2024	J-GAAP
YoY	-2.8%	－	－	－	－