Ishii Iron Works Co.,Ltd., First Half Net Income Decreases by 75%, July-September Net Income Turns to Loss

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Thu Nov 7, 2024 4:00 pm JST Earnings

6362 Ishii Iron Works Co.,Ltd. 【J-GAAP】

Earnings Report

Ishii Iron Works Co.,Ltd. <6362> [TSE-S] announced its financial results after the market closed on November 7th (16:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 74.7% from the same period last year to 122 million yen. The progress rate against the 1 billion yen full-year plan was 12.2%, also falling below the five-year average of 42.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 23.0% from the same period last year, reaching 878 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 27 million yen (compared to a profit of 296 million yen in the same period last year). The operating profit margin decreased from 18.0% in the same period last year to 13.7%.

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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	4,486	253	369	236	65.1	33.3	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	4,155	502	660	483	138.4	38.9	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	5,001	467	523	122	35.4	36.1	Nov 7, 2024	J-GAAP
YoY	+20.4%	-7.0%	-20.8%	-74.7%	-74.5%

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	5,001	467	523	122	35.4	0	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	5,817	980	1,038	714	204.9	90	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,599	983	927	878	252.4	0	Nov 7, 2024	J-GAAP
YoY	+13.4%	+0.3%	-10.7%	+23.0%	+23.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	11,121	1,066	1,107	717	198.0	70	May 11, 2023	J-GAAP
Mar, 2024	9,972	1,482	1,698	1,197	343.6	90	May 9, 2024	J-GAAP
Mar, 2025 Guidance	11,600	1,450	1,450	1,000	287.4	0	Aug 8, 2024	J-GAAP
YoY	+16.3%	-2.2%	-14.6%	-16.5%	-16.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,333	420	444	296	84.8	18.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,662	391	363	248	71.1	14.7	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	3,155	589	675	466	133.8	18.7	May 9, 2024	J-GAAP
Apr - Jun, 2024	2,455	118	239	149	43.1	4.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,546	349	284	-27	-7.8	13.7	Nov 7, 2024	J-GAAP
YoY	+9.1%	-16.9%	-36.0%	－	－