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SHIZUKI ELECTRIC COMPANY INC., First Half Ordinary Profit Decreases by 4%

Wed Nov 6, 2024 1:00 pm JST Earnings

6994 SHIZUKI ELECTRIC COMPANY INC. 【J-GAAP】

Earnings Report

SHIZUKI ELECTRIC COMPANY INC. <6994> [TSE-S] announced its financial results in the afternoon session on November 6th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 4.3% from the same period last year to 444 million yen. However, The progress rate against the 850 million yen full-year plan was 52.2%, also surpassing the five-year average of 29.8%.

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 drop by 38.1% from the same period last year to 406 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 205 million yen, a 40.9% decrease compared to the same period last year. However, the operating profit margin improved from 5.5% in the same period last year to 6.0%.

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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 12,457 135 353 191 5.8 28.9 Nov 4, 2022 J-GAAP
Apr - Sep, 2023 12,746 414 464 100 3.5 41.4 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 12,838 562 444 230 9.1 52.2 Nov 6, 2024 J-GAAP
YoY +0.7% +35.7% -4.3% +130.0% +163.4%

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 11,800 300 250 100 4.0 3 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 12,838 562 444 230 9.1 3 Nov 6, 2024 J-GAAP
Revision Rate +8.8% +87.3% +77.6% +130.0% +130.8%

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 13,559 684 656 82 3.0 5.50 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 12,162 538 406 170 6.7 5.50 Nov 6, 2024 J-GAAP
YoY -10.3% -21.3% -38.1% +107.3% +122.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 26,127 937 1,223 760 23.1 9 May 15, 2023 J-GAAP
Mar, 2024 26,305 1,098 1,120 182 6.7 8.50 May 15, 2024 J-GAAP
Mar, 2025 Guidance 25,000 1,100 850 400 15.8 8.50 May 15, 2024 J-GAAP
YoY -5.0% +0.2% -24.1% +119.8% +135.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,595 362 347 199 6.9 5.5 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 6,972 338 260 99 3.6 4.8 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 6,587 346 396 -17 -0.6 5.3 May 15, 2024 J-GAAP
Apr - Jun, 2024 6,165 164 239 105 4.2 2.7 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 6,673 398 205 125 5.0 6.0 Nov 6, 2024 J-GAAP
YoY +1.2% +9.9% -40.9% -37.2% -28.1%

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