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

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% － －

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