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

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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%