SANSHIN ELECTRONICS CO., LTD., First Half Ordinary Profit Increases by 2%

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Wed Nov 6, 2024 3:30 pm JST Earnings

8150 SANSHIN ELECTRONICS CO., LTD. 【J-GAAP】

Earnings Report

SANSHIN ELECTRONICS CO., LTD. <8150> [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) was 1.92 billion yen, a 2.5% increase compared to the same period last year. The progress rate against the 3.6 billion yen full-year plan was 53.4%, also surpassing the five-year average of 43.8%.

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 decrease by 17.4% from the same period last year to 1.67 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.04 billion yen, a 20.8% decrease compared to the same period last year. The operating profit margin worsened from 4.5% in the same period last year to 2.4%.

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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	82,994	4,247	2,934	2,160	177.3	53.2	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	74,311	2,837	1,877	1,291	105.9	48.0	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	75,153	2,227	1,923	1,357	111.2	53.4	Nov 6, 2024	J-GAAP
YoY	+1.1%	-21.5%	+2.5%	+5.1%	+5.0%

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	75,000	2,200	1,900	1,350	110.6	30	Oct 24, 2024	J-GAAP
Apr - Sep, 2024 Results	75,153	2,227	1,923	1,357	111.2	30	Nov 6, 2024	J-GAAP
Revision Rate	+0.2%	+1.2%	+1.2%	+0.5%	+0.5%

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	65,886	2,911	2,031	1,449	118.8	70	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	74,847	2,073	1,677	1,243	101.6	75	Nov 6, 2024	J-GAAP
YoY	+13.6%	-28.8%	-17.4%	-14.2%	-14.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	161,107	6,847	5,511	3,832	314.4	135	May 11, 2023	J-GAAP
Mar, 2024	140,197	5,748	3,908	2,740	224.7	105	May 10, 2024	J-GAAP
Mar, 2025 Guidance	150,000	4,300	3,600	2,600	212.6	105	May 10, 2024	J-GAAP
YoY	+7.0%	-25.2%	-7.9%	-5.1%	-5.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	41,312	1,860	1,325	1,109	90.9	4.5	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	34,040	1,071	626	463	38.0	3.1	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	31,846	1,840	1,405	986	80.8	5.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	34,957	1,255	874	530	43.5	3.6	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	40,196	972	1,049	827	67.7	2.4	Nov 6, 2024	J-GAAP
YoY	-2.7%	-47.7%	-20.8%	-25.4%	-25.5%