Japan Engine Corporation, First Half Ordinary Profit Increases by 4.8 times, July-September Ordinary Profit Increases by 3.4 times

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Thu Nov 7, 2024 3:30 pm JST Earnings

6016 Japan Engine Corporation 【J-GAAP】

Earnings Report

Japan Engine Corporation <6016> [TSE-S] announced its financial results after the market closed on November 7th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 4.8 times that of the same period last year, reaching 3.24 billion yen. The progress rate against the 4.49 billion yen full-year plan was 72.2%, also surpassing the five-year average of 34.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to significant drop by 56.1% from the same period last year to 1.24 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit surged to 3.4 times that of the same period last year, reaching 1.36 billion yen. The operating profit margin drastically improved from 8.4% in the same period last year to 17.9%.

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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	8,066	219	281	284	33.9	41.2	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	7,941	570	673	618	73.8	19.1	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	14,326	3,003	3,242	2,713	323.7	72.2	Nov 7, 2024	J-GAAP
YoY	+80.4%	+426.8%	+381.7%	+339.0%	+338.8%

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	－	20	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	14,326	3,003	3,242	2,713	323.7	20	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	13,028	1,618	2,845	1,930	230.2	33.33	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,174	1,077	1,248	857	102.2	42	Nov 7, 2024	J-GAAP
YoY	+1.1%	-33.4%	-56.1%	-55.6%	-55.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,248	442	682	808	96.5	13.33	May 11, 2023	J-GAAP
Mar, 2024	20,969	2,188	3,518	2,548	303.9	43.33	May 9, 2024	J-GAAP
Mar, 2025 Guidance	27,500	4,080	4,490	3,570	425.8	62	Aug 8, 2024	J-GAAP
YoY	+31.1%	+86.5%	+27.6%	+40.1%	+40.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	4,053	342	401	401	47.9	8.4	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	6,521	841	970	519	61.9	12.9	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	6,507	777	1,875	1,411	168.3	11.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	7,789	1,831	1,880	1,660	198.1	23.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	6,537	1,172	1,362	1,053	125.6	17.9	Nov 7, 2024	J-GAAP
YoY	+61.3%	+242.7%	+239.7%	+162.6%	+162.4%