Fujikura Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 18%, Adds to Record High Profit Forecast, Dividend Revised Upward by 2 yen

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Thu Nov 7, 2024 3:30 pm JST Earnings

5803 Fujikura Ltd. 【J-GAAP】

Earnings Report

Fujikura Ltd. <5803> [TSE-P] 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) expanded to 52.1 billion yen, an increase of 52.6% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 18.4%, from the previous forecast of 87 billion yen to 103 billion yen (compared to 69.7 billion yen in the previous period), increasing the growth rate from 24.8% to 47.7%, 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 expand by 43.0% from the same period last year, reaching 50.8 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 65 yen to 67 yen (compared to 55 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 40.7% from the same period last year, reaching 26.1 billion yen. The operating profit margin significantly improved from 9.0% in the same period last year to 13.4%.

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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	399,067	35,252	38,527	31,790	115.3	56.7	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	391,934	30,778	34,204	25,184	91.3	49.0	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	447,539	55,141	52,197	28,734	104.2	50.7	Nov 7, 2024	J-GAAP
YoY	+14.2%	+79.2%	+52.6%	+14.1%	+14.1%

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	440,000	49,000	48,000	34,000	123.3	32.50	Aug 8, 2024	J-GAAP
Apr - Sep, 2024 Results	447,539	55,141	52,197	28,734	104.2	33.50	Nov 7, 2024	J-GAAP
Revision Rate	+1.7%	+12.5%	+8.7%	-15.5%	-15.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	870,000	89,000	87,000	60,000	217.5	65	Aug 8, 2024	J-GAAP
Mar, 2025 New	880,000	104,000	103,000	62,000	224.7	67	Nov 7, 2024	J-GAAP
Revision Rate	+1.1%	+16.9%	+18.4%	+3.3%	+3.3%

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	407,826	38,705	35,529	25,827	93.7	32.50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	432,461	48,859	50,803	33,266	120.6	33.50	Nov 7, 2024	J-GAAP
YoY	+6.0%	+26.2%	+43.0%	+28.8%	+28.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	806,453	70,163	67,897	40,891	148.3	30	May 12, 2023	J-GAAP
Mar, 2024	799,760	69,483	69,733	51,011	185.0	55	May 13, 2024	J-GAAP
Mar, 2025 Guidance	880,000	104,000	103,000	62,000	224.7	67	Nov 7, 2024	J-GAAP
YoY	+10.0%	+49.7%	+47.7%	+21.5%	+21.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	201,727	18,206	18,561	14,072	51.0	9.0	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	207,057	20,665	17,326	10,613	38.5	10.0	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	200,769	18,040	18,203	15,214	55.2	9.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	218,330	24,452	26,090	19,113	69.3	11.2	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	229,209	30,689	26,107	9,621	34.9	13.4	Nov 7, 2024	J-GAAP
YoY	+13.6%	+68.6%	+40.7%	-31.6%	-31.6%