YUASA FUNASHOKU CO.,LTD., First Half Ordinary Profit Increases by 53%

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Wed Nov 6, 2024 3:00 pm JST Earnings

8006 YUASA FUNASHOKU CO.,LTD. 【J-GAAP】

Earnings Report

YUASA FUNASHOKU CO.,LTD. <8006> [TSE-S] announced its financial results in the afternoon session on November 6th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.47 billion yen, an increase of 53.1% compared to the same period last year, exceeded the previous forecast of 1.2 billion yen.

The progress rate against the 2.4 billion yen full-year plan was 61.4%, also surpassing the five-year average of 40.6%.

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 decrease by 25.9% from the same period last year to 926 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 55.4% from the same period last year, reaching 732 million yen. The operating profit margin improved from 1.5% in the same period last year to 2.2%.

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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	58,237	568	746	515	114.7	42.4	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	59,899	768	963	1,874	417.1	43.5	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	61,079	1,241	1,474	1,006	228.0	61.4	Nov 6, 2024	J-GAAP
YoY	+2.0%	+61.6%	+53.1%	-46.3%	-45.3%

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	61,500	1,000	1,200	800	181.3	－	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	61,079	1,241	1,474	1,006	228.0	－	Nov 6, 2024	J-GAAP
Revision Rate	-0.7%	+24.1%	+22.8%	+25.8%	+25.8%

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	59,681	1,088	1,249	833	185.6	100	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	61,921	859	926	694	157.3	100	Nov 6, 2024	J-GAAP
YoY	+3.8%	-21.0%	-25.9%	-16.7%	-15.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	117,881	1,462	1,759	1,112	247.5	100	May 12, 2023	J-GAAP
Mar, 2024	119,580	1,856	2,212	2,707	603.1	100	May 14, 2024	J-GAAP
Mar, 2025 Guidance	123,000	2,100	2,400	1,700	385.3	100	May 14, 2024	J-GAAP
YoY	+2.9%	+13.1%	+8.5%	-37.2%	-36.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	29,706	438	471	1,532	341.0	1.5	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	31,749	481	601	411	91.5	1.5	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	27,932	607	648	422	94.0	2.2	May 14, 2024	J-GAAP
Apr - Jun, 2024	30,336	567	742	512	116.1	1.9	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	30,743	674	732	494	112.0	2.2	Nov 6, 2024	J-GAAP
YoY	+3.5%	+53.9%	+55.4%	-67.8%	-67.2%