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Oki Electric Industry Company, Limited, First Half Ordinary Profit Increases by 9.4 times

Thu Nov 7, 2024 1:00 pm JST Earnings

6703 Oki Electric Industry Company, Limited 【J-GAAP】

Earnings Report

Oki Electric Industry Company, Limited <6703> [TSE-P] announced its financial results in the afternoon session on November 7th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 9.4 times that of the same period last year, reaching 4.47 billion yen. The progress rate against the 14.5 billion yen full-year plan was 30.8%, exceeding the same period of the previous year of 2.6%.

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 drop by 43.7% from the same period last year to 10 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 552 million yen, a 28.4% decrease compared to the same period last year. However, the operating profit margin improved from 1.1% in the same period last year to 2.3%.

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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 162,756 -3,985 -4,933 -5,659 -65.3 ー Nov 9, 2022 J-GAAP
Apr - Sep, 2023 174,852 1,003 478 284 3.3 2.6 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 197,664 6,156 4,471 2,380 27.5 30.8 Nov 7, 2024 J-GAAP
YoY +13.0% +513.8% +835.4% +738.0% +736.9%

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 － 0 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 197,664 6,156 4,471 2,380 27.5 0 Nov 7, 2024 J-GAAP
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 247,002 17,689 17,815 25,365 292.7 30 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 262,336 9,844 10,029 7,120 82.1 30 Nov 7, 2024 J-GAAP
YoY +6.2% -44.3% -43.7% -71.9% -71.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 369,096 2,403 -328 -2,800 -32.3 20 May 10, 2023 J-GAAP
Mar, 2024 421,854 18,692 18,293 25,649 295.9 30 May 9, 2024 J-GAAP
Mar, 2025 Guidance 460,000 16,000 14,500 9,500 109.6 30 May 9, 2024 J-GAAP
YoY +9.0% -14.4% -20.7% -63.0% -63.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 93,327 1,013 771 440 5.1 1.1 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 111,790 4,839 4,309 1,715 19.8 4.3 Feb 7, 2024 J-GAAP
Jan - Mar, 2024 135,212 12,850 13,506 23,650 272.9 9.5 May 9, 2024 J-GAAP
Apr - Jun, 2024 97,939 3,860 3,919 1,805 20.8 3.9 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 99,725 2,296 552 575 6.6 2.3 Nov 7, 2024 J-GAAP
YoY +6.9% +126.7% -28.4% +30.7% +30.5%

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