RIKEN KEIKI CO.,LTD, First Half Ordinary Profit Decreases by 20%

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Fri Nov 8, 2024 3:00 pm JST Earnings

7734 RIKEN KEIKI CO.,LTD 【J-GAAP】

Earnings Report

RIKEN KEIKI CO.,LTD <7734> [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) decreased by 19.9% from the same period last year to 5.17 billion yen, fell short of the previous forecast of 6.15 billion yen.

The progress rate against the 12.3 billion yen full-year plan was 42.0%, also falling below the five-year average of 50.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 22.6% from the same period last year, reaching 7.13 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 1.94 billion yen, a 32.9% decrease compared to the same period last year. The operating profit margin decreased from 24.9% in the same period last year to 22.3%.

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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	22,404	6,408	6,633	4,546	97.7	55.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	22,675	5,847	6,456	4,548	97.7	52.6	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	23,934	5,499	5,170	3,583	76.9	42.0	Nov 8, 2024	J-GAAP
YoY	+5.6%	-6.0%	-19.9%	-21.2%	-21.2%

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	23,600	5,900	6,150	4,600	98.8	20	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	23,934	5,499	5,170	3,583	76.9	20	Nov 8, 2024	J-GAAP
Revision Rate	+1.4%	-6.8%	-15.9%	-22.1%	-22.1%

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	22,906	5,629	5,816	3,830	82.3	20	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	24,066	6,301	7,130	5,417	116.3	20	Nov 8, 2024	J-GAAP
YoY	+5.1%	+11.9%	+22.6%	+41.4%	+41.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	45,004	11,551	11,944	8,670	186.2	40	May 11, 2023	J-GAAP
Mar, 2024	45,581	11,476	12,272	8,378	179.9	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	48,000	11,800	12,300	9,000	193.2	40	May 10, 2024	J-GAAP
YoY	+5.3%	+2.8%	+0.2%	+7.4%	+7.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,185	2,789	2,896	2,015	43.3	24.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	11,650	2,808	2,744	2,019	43.4	24.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	11,256	2,821	3,072	1,811	38.9	25.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	11,243	2,673	3,226	2,239	48.1	23.8	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	12,691	2,826	1,944	1,344	28.9	22.3	Nov 8, 2024	J-GAAP
YoY	+13.5%	+1.3%	-32.9%	-33.3%	-33.3%