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IDEC CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 40%

Fri Nov 1, 2024 3:00 pm JST Earnings

6652 IDEC CORPORATION 【J-GAAP】

Earnings Report

IDEC CORPORATION <6652> [TSE-P] announced its financial results after the market closed on November 1st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 67.7% from the same period last year to 1.46 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 40.0%, from the previous forecast of 5.2 billion yen to 3.12 billion yen (compared to 6.92 billion yen in the previous period), leading to an increase in the profit decline rate from 24.9% to 54.9%.

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 drop by 30.7% from the same period last year to 1.65 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 969 million yen, a 61.4% decrease compared to the same period last year. The operating profit margin significantly dropped from 12.1% in the same period last year to 7.5%.

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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 43,180 7,559 8,140 5,694 196.0 56.5 Nov 4, 2022 J-GAAP
Apr - Sep, 2023 37,800 4,046 4,530 3,174 108.3 65.5 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 33,088 1,550 1,463 1,281 43.5 46.9 Nov 1, 2024 J-GAAP
YoY -12.5% -61.7% -67.7% -59.6% -59.8%

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 － 65 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 33,088 1,550 1,463 1,281 43.5 65 Nov 1, 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 71,700 5,200 5,200 4,000 135.7 130 May 10, 2024 J-GAAP
Mar, 2025 New 66,900 3,210 3,120 1,420 48.2 130 Nov 1, 2024 J-GAAP
Revision Rate -6.7% -38.3% -40.0% -64.5% -64.5%

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 34,911 2,230 2,390 1,233 42.0 65 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 33,812 1,660 1,657 139 4.7 65 Nov 1, 2024 J-GAAP
YoY -3.1% -25.6% -30.7% -88.7% -88.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 83,869 14,060 14,403 10,144 348.4 130 May 12, 2023 J-GAAP
Mar, 2024 72,711 6,276 6,920 4,407 150.1 130 May 10, 2024 J-GAAP
Mar, 2025 Guidance 66,900 3,210 3,120 1,420 48.2 130 Nov 1, 2024 J-GAAP
YoY -8.0% -48.9% -54.9% -67.8% -67.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 19,620 2,381 2,508 1,707 58.2 12.1 Nov 2, 2023 J-GAAP
Oct - Dec, 2023 16,541 604 532 263 9.0 3.7 Feb 2, 2024 J-GAAP
Jan - Mar, 2024 18,370 1,626 1,858 970 33.0 8.9 May 10, 2024 J-GAAP
Apr - Jun, 2024 15,962 272 494 300 10.2 1.7 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 17,126 1,278 969 981 33.3 7.5 Nov 1, 2024 J-GAAP
YoY -12.7% -46.3% -61.4% -42.5% -42.8%

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