The Japan Steel Works, Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 10%, Dividend Revised Upward by 2 yen

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Fri Nov 8, 2024 3:00 pm JST Earnings

5631 The Japan Steel Works, Ltd. 【J-GAAP】

Earnings Report

The Japan Steel Works, Ltd. <5631> [TSE-P] announced its financial results in the afternoon session on November 8th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 26.8% from the same period last year, reaching 8.6 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 9.8%, from the previous forecast of 20.5 billion yen to 22.5 billion yen (compared to 19.9 billion yen in the previous period), increasing the growth rate from 2.8% to 12.8%.

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 5.6% from the same period last year, reaching 13.8 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 74 yen to 76 yen (compared to 59 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 15.9% from the same period last year, reaching 3.78 billion yen. The operating profit margin improved from 5.5% in the same period last year to 6.6%.

Kabutan News

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	103,649	3,109	4,272	1,760	23.9	28.6	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	110,184	5,784	6,784	4,763	64.7	34.0	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	108,277	8,289	8,602	6,009	81.7	38.2	Nov 8, 2024	J-GAAP
YoY	-1.7%	+43.3%	+26.8%	+26.2%	+26.1%

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	ー	ー	ー	ー	－	37	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	108,277	8,289	8,602	6,009	81.7	38	Nov 8, 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	265,000	20,000	20,500	15,500	210.6	74	May 10, 2024	J-GAAP
Mar, 2025 New	270,000	22,000	22,500	16,000	217.4	76	Nov 8, 2024	J-GAAP
Revision Rate	+1.9%	+10.0%	+9.8%	+3.2%	+3.2%

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	142,317	12,230	13,161	9,515	129.3	30	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	161,723	13,711	13,898	9,991	135.7	38	Nov 8, 2024	J-GAAP
YoY	+13.6%	+12.1%	+5.6%	+5.0%	+5.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	238,721	13,846	14,958	11,974	162.8	58	May 12, 2023	J-GAAP
Mar, 2024	252,501	18,014	19,945	14,278	194.0	59	May 10, 2024	J-GAAP
Mar, 2025 Guidance	270,000	22,000	22,500	16,000	217.4	76	Nov 8, 2024	J-GAAP
YoY	+6.9%	+22.1%	+12.8%	+12.1%	+12.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	55,433	3,029	3,267	2,311	31.4	5.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	63,703	5,454	5,925	4,205	57.1	8.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	78,614	6,776	7,236	5,310	72.2	8.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	47,602	4,268	4,817	3,623	49.2	9.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	60,675	4,021	3,785	2,386	32.4	6.6	Nov 8, 2024	J-GAAP
YoY	+9.5%	+32.8%	+15.9%	+3.2%	+3.2%