Shimadzu Corporation, First Half Ordinary Profit Decreases by 21%, July-September Ordinary Profit Decreases by 27%

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Thu Nov 7, 2024 3:30 pm JST Earnings

7701 Shimadzu Corporation 【J-GAAP】

Earnings Report

Shimadzu Corporation <7701> [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) decreased by 20.8% from the same period last year to 28.4 billion yen. The progress rate against the 77 billion yen full-year plan was 36.9%, also falling below the five-year average of 44.2%.

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 grow by 18.4% from the same period last year, reaching 48.5 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 14.7 billion yen, a 27.1% decrease compared to the same period last year. The operating profit margin decreased from 14.8% in the same period last year to 14.3%.

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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	221,893	28,912	33,140	24,500	83.2	46.8	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	239,514	32,505	35,851	26,550	90.1	46.6	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	251,247	30,221	28,408	21,316	72.4	36.9	Nov 7, 2024	J-GAAP
YoY	+4.9%	-7.0%	-20.8%	-19.7%	-19.7%

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	－	26	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	251,247	30,221	28,408	21,316	72.4	26	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	525,000	76,000	77,000	58,000	200.0	62	May 10, 2024	J-GAAP
Mar, 2025 New	540,000	76,000	77,000	58,000	200.0	62	Nov 7, 2024	J-GAAP
Revision Rate	+2.9%	0.0%	0.0%	0.0%	0.0%

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	272,381	40,248	41,044	30,487	103.5	36	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	288,753	45,779	48,592	36,684	126.5	36	Nov 7, 2024	J-GAAP
YoY	+6.0%	+13.7%	+18.4%	+20.3%	+22.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	482,240	68,219	70,882	52,048	176.6	54	May 10, 2023	J-GAAP
Mar, 2024	511,895	72,753	76,895	57,037	193.5	60	May 10, 2024	J-GAAP
Mar, 2025 Guidance	540,000	76,000	77,000	58,000	200.0	62	Nov 7, 2024	J-GAAP
YoY	+5.5%	+4.5%	+0.1%	+1.7%	+3.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	130,314	19,256	20,195	15,450	52.4	14.8	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	126,109	18,242	17,062	12,505	42.4	14.5	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	146,272	22,006	23,982	17,982	61.0	15.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	116,938	10,961	13,694	9,987	33.9	9.4	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	134,309	19,260	14,714	11,329	38.5	14.3	Nov 7, 2024	J-GAAP
YoY	+3.1%	+0.0%	-27.1%	-26.7%	-26.6%