YUTAKA GIKEN CO.,LTD., First Half Net Income Decreases by 46%, July-September Net Income Turns to Loss

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Tue Nov 5, 2024 3:00 pm JST Earnings

7229 YUTAKA GIKEN CO.,LTD. 【IFRS】

Earnings Report

YUTAKA GIKEN CO.,LTD. <7229> [TSE-S] announced its financial results (based on IFRS) in the afternoon session on November 5th (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 46.5% from the same period last year to 1.12 billion yen. The progress rate against the 2.6 billion yen full-year plan was 43.4%, also falling below the five-year average of 65.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to significant drop by 72.4% from the same period last year to 1.47 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 115 million yen (compared to a profit of 982 million yen in the same period last year). The operating profit margin remained almost flat, changing from 3.0% in the same period last year to 2.8%.

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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	108,897	1,071	2,448	541	36.5	49.6	Oct 31, 2022	IFRS
Apr - Sep, 2023	103,920	3,182	3,779	2,107	142.2	31.4	Oct 31, 2023	IFRS
Apr - Sep, 2024	88,524	2,726	2,397	1,128	76.1	38.7	Nov 5, 2024	IFRS
YoY	-14.8%	-14.3%	-36.6%	-46.5%	-46.5%

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	－	36	May 10, 2024	IFRS
Apr - Sep, 2024 Results	88,524	2,726	2,397	1,128	76.1	36	Nov 5, 2024	IFRS
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	112,340	7,935	8,243	5,341	360.4	50	May 10, 2024	IFRS
Oct - Mar, 2024 Guidance	86,476	3,374	3,803	1,472	99.3	36	Nov 5, 2024	IFRS
YoY	-23.0%	-57.5%	-53.9%	-72.4%	-72.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	218,004	3,853	4,933	1,444	97.4	72	May 11, 2023	IFRS
Mar, 2024	216,260	11,117	12,022	7,448	502.6	90	May 10, 2024	IFRS
Mar, 2025 Guidance	175,000	6,100	6,200	2,600	175.5	72	May 10, 2024	IFRS
YoY	-19.1%	-45.1%	-48.4%	-65.1%	-65.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	55,668	1,655	1,809	982	66.3	3.0	Oct 31, 2023	IFRS
Oct - Dec, 2023	62,029	4,166	3,974	2,526	170.5	6.7	Jan 31, 2024	IFRS
Jan - Mar, 2024	50,311	3,769	4,269	2,815	190.0	7.5	May 10, 2024	IFRS
Apr - Jun, 2024	45,208	1,530	1,946	1,243	83.9	3.4	Aug 5, 2024	IFRS
Jul - Sep, 2024	43,316	1,196	451	-115	-7.8	2.8	Nov 5, 2024	IFRS
YoY	-22.2%	-27.7%	-75.1%	－	－