YAMAICHI ELECTRONICS CO.,LTD., First Half Ordinary Profit Increases by 3.7 times, July-September Ordinary Profit Increases by 65%

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Wed Nov 6, 2024 3:30 pm JST Earnings

6941 YAMAICHI ELECTRONICS CO.,LTD. 【J-GAAP】

Earnings Report

YAMAICHI ELECTRONICS CO.,LTD. <6941> [TSE-P] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 3.7 times that of the same period last year, reaching 6.16 billion yen. The progress rate against the 8.6 billion yen full-year plan was 71.7%, also surpassing the five-year average of 59.2%.

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 expand by 95.2% from the same period last year, reaching 2.43 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 64.7% from the same period last year, reaching 1.67 billion yen. The operating profit margin drastically improved from 9.9% in the same period last year to 21.3%.

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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	27,166	6,667	7,286	5,244	250.4	77.1	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	18,606	1,570	1,665	1,198	58.2	57.1	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	27,577	6,833	6,162	4,091	200.8	71.7	Nov 6, 2024	J-GAAP
YoY	+48.2%	+335.2%	+270.1%	+241.5%	+244.7%

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	27,000	6,000	6,100	4,300	212.2	35	Aug 6, 2024	J-GAAP
Apr - Sep, 2024 Results	27,577	6,833	6,162	4,091	200.8	35	Nov 6, 2024	J-GAAP
Revision Rate	+2.1%	+13.9%	+1.0%	-4.9%	-5.4%

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	17,817	1,363	1,249	862	42.0	13	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,123	1,967	2,438	1,909	95.0	54	Nov 6, 2024	J-GAAP
YoY	+18.6%	+44.3%	+95.2%	+121.5%	+126.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	46,985	9,134	9,450	7,212	346.1	104	May 12, 2023	J-GAAP
Mar, 2024	36,423	2,933	2,914	2,060	100.4	31	May 14, 2024	J-GAAP
Mar, 2025 Guidance	48,700	8,800	8,600	6,000	298.5	89	Aug 6, 2024	J-GAAP
YoY	+33.7%	+200.0%	+195.1%	+191.3%	+197.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,789	973	1,017	851	41.4	9.9	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	8,409	357	250	190	9.3	4.2	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	9,408	1,006	999	672	32.8	10.7	May 14, 2024	J-GAAP
Apr - Jun, 2024	15,117	4,179	4,487	3,182	155.7	27.6	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	12,460	2,654	1,675	909	44.6	21.3	Nov 6, 2024	J-GAAP
YoY	+27.3%	+172.8%	+64.7%	+6.8%	+7.8%