The Furukawa Battery Co.,Ltd., First Half Net Income Turns to Loss, July-September Net Income Turns to Loss

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Thu Nov 7, 2024 2:00 pm JST Earnings

6937 The Furukawa Battery Co.,Ltd. 【J-GAAP】

Earnings Report

The Furukawa Battery Co.,Ltd. <6937> [TSE-P] announced its financial results in the afternoon session on November 7th (14:00). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 731 million yen (compared to a profit of 594 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 25.8% from the same period last year, reaching 2.49 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 461 million yen (compared to a profit of 165 million yen in the same period last year). However, the operating profit margin drastically improved from 2.0% in the same period last year to 7.5%.

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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	29,830	-381	-231	-228	-7.0	ー	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	32,430	42	164	594	18.2	4.8	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	37,381	1,269	1,374	-731	-22.3	33.5	Nov 7, 2024	J-GAAP
YoY	+15.3%	+2,921.4%	+737.8%	－	－

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	－	－	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	37,381	1,269	1,374	-731	-22.3	－	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	43,025	3,191	3,253	1,980	60.4	21	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	42,619	2,731	2,726	2,491	76.0	0	Nov 7, 2024	J-GAAP
YoY	-0.9%	-14.4%	-16.2%	+25.8%	+25.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	69,538	1,900	2,193	797	24.3	19	May 11, 2023	J-GAAP
Mar, 2024	75,455	3,233	3,417	2,574	78.6	21	May 13, 2024	J-GAAP
Mar, 2025 Guidance	80,000	4,000	4,100	1,760	53.7	0	Sep 26, 2024	J-GAAP
YoY	+6.0%	+23.7%	+20.0%	-31.6%	-31.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	17,694	351	375	165	5.0	2.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	20,889	1,016	1,013	667	20.4	4.9	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	22,136	2,175	2,240	1,313	40.1	9.8	May 13, 2024	J-GAAP
Apr - Jun, 2024	17,169	-246	-129	-270	-8.3	-1.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	20,212	1,515	1,503	-461	-14.1	7.5	Nov 7, 2024	J-GAAP
YoY	+14.2%	+331.6%	+300.8%	－	－