Sansha Electric Manufacturing Co.,Ltd., The Current Fiscal Year Ordinary Profit Revised Downward by 64%

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Thu Nov 7, 2024 3:30 pm JST Earnings

6882 Sansha Electric Manufacturing Co.,Ltd. 【J-GAAP】

Earnings Report

Sansha Electric Manufacturing Co.,Ltd. <6882> [TSE-S] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 72.5% from the same period last year to 323 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 64.3%, from the previous forecast of 1.4 billion yen to 500 million yen (compared to 3.47 billion yen in the previous period), leading to an increase in the profit decline rate from 59.7% to 85.6%.

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 significant drop by 92.3% from the same period last year to 177 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 211 million yen (compared to a profit of 560 million yen in the same period last year). The operating profit/loss margin drastically worsened from 8.0% in the same period last year to -3.8%.

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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	12,904	307	252	134	10.5	15.3	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	13,812	1,127	1,174	827	62.2	33.8	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	11,628	209	323	126	9.6	64.6	Nov 7, 2024	J-GAAP
YoY	-15.8%	-81.5%	-72.5%	-84.8%	-84.6%

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	－	10	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	11,628	209	323	126	9.6	10	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	28,800	1,400	1,400	980	73.7	40	May 8, 2024	J-GAAP
Mar, 2025 New	25,500	400	500	350	26.3	40	Nov 7, 2024	J-GAAP
Revision Rate	-11.5%	-71.4%	-64.3%	-64.3%	-64.3%

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	17,193	2,280	2,299	2,128	160.0	40	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,872	191	177	224	16.8	30	Nov 7, 2024	J-GAAP
YoY	-19.3%	-91.6%	-92.3%	-89.5%	-89.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	28,088	1,629	1,651	1,241	95.3	30	May 10, 2023	J-GAAP
Mar, 2024	31,005	3,407	3,473	2,955	222.2	50	May 8, 2024	J-GAAP
Mar, 2025 Guidance	25,500	400	500	350	26.3	40	Nov 7, 2024	J-GAAP
YoY	-17.8%	-88.3%	-85.6%	-88.2%	-88.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,983	562	560	427	32.1	8.0	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	9,885	2,215	2,241	1,655	124.5	22.4	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	7,308	65	58	473	35.6	0.9	May 8, 2024	J-GAAP
Apr - Jun, 2024	5,975	425	534	278	20.9	7.1	Jul 29, 2024	J-GAAP
Jul - Sep, 2024	5,653	-216	-211	-152	-11.5	-3.8	Nov 7, 2024	J-GAAP
YoY	-19.0%	－	－	－	－