SHIBAURA MECHATRONICS CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 3%, Adds to Record High Profit Forecast, Dividend Revised Upward by 8 yen

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Thu Nov 7, 2024 3:00 pm JST Earnings

6590 SHIBAURA MECHATRONICS CORPORATION 【J-GAAP】

Earnings Report

SHIBAURA MECHATRONICS CORPORATION <6590> [TSE-P] announced its financial results in the afternoon session on November 7th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 10.3% from the same period last year, reaching 5.55 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 3.4%, from the previous forecast of 11.7 billion yen to 12.1 billion yen (compared to 11.6 billion yen in the previous period), increasing the growth rate from 0.8% to 4.2%, further surpassing the previous forecast of record-high profits for three consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to nearly flat at 6.55 billion yen, down 0.4% from the same period last year.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 235 yen to 243 yen (compared to 200 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.41 billion yen, a 14.5% decrease compared to the same period last year. The operating profit margin decreased from 17.8% in the same period last year to 13.9%.

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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	29,256	4,599	4,258	3,414	257.6	40.5	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	30,511	5,016	5,033	3,874	292.5	43.3	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	36,391	5,748	5,550	4,099	312.7	45.9	Nov 7, 2024	J-GAAP
YoY	+19.3%	+14.6%	+10.3%	+5.8%	+6.9%

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	36,391	5,748	5,550	4,099	312.7	0	Nov 7, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	73,000	11,800	11,700	8,800	671.0	235	Aug 8, 2024	J-GAAP
Mar, 2025 New	75,100	12,400	12,100	9,100	693.8	243	Nov 7, 2024	J-GAAP
Revision Rate	+2.9%	+5.1%	+3.4%	+3.4%	+3.4%

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	37,045	6,671	6,578	4,919	372.7	200	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	38,709	6,652	6,550	5,001	381.3	243	Nov 7, 2024	J-GAAP
YoY	+4.5%	-0.3%	-0.4%	+1.7%	+2.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	61,001	10,906	10,514	9,198	693.8	186.67	May 11, 2023	J-GAAP
Mar, 2024	67,556	11,687	11,611	8,793	666.3	200	May 9, 2024	J-GAAP
Mar, 2025 Guidance	75,100	12,400	12,100	9,100	693.8	243	Nov 7, 2024	J-GAAP
YoY	+11.2%	+6.1%	+4.2%	+3.5%	+4.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	16,257	2,887	2,824	2,080	157.0	17.8	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	17,388	3,088	2,966	2,176	164.7	17.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	19,657	3,583	3,612	2,743	207.8	18.2	May 9, 2024	J-GAAP
Apr - Jun, 2024	17,129	3,069	3,135	2,288	174.7	17.9	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	19,262	2,679	2,415	1,811	138.2	13.9	Nov 7, 2024	J-GAAP
YoY	+18.5%	-7.2%	-14.5%	-12.9%	-12.0%