SHIGEMATSU WORKS CO.,LTD., First Half Ordinary Profit Increases by 94%, July-September Ordinary Profit Increases by 39%

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Fri Nov 8, 2024 3:30 pm JST Earnings

7980 SHIGEMATSU WORKS CO.,LTD. 【J-GAAP】

Earnings Report

SHIGEMATSU WORKS CO.,LTD. <7980> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 303 million yen, an increase of 94.2% compared to the same period last year. However, The progress rate against the 960 million yen full-year plan was 31.6%, almost the same as the five-year average of 32.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 2.0% from the same period last year, reaching 657 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 39.0% from the same period last year, reaching 114 million yen. However, the operating profit margin worsened from 2.9% in the same period last year to 2.5%.

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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	5,718	406	439	309	43.5	42.8	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	5,601	150	156	104	14.6	19.5	Nov 7, 2023	J-GAAP
Apr - Sep, 2024	6,253	261	303	197	27.8	31.6	Nov 8, 2024	J-GAAP
YoY	+11.6%	+74.0%	+94.2%	+89.4%	+90.1%

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	6,253	261	303	197	27.7	－	Nov 7, 2024	J-GAAP
Apr - Sep, 2024 Results	6,253	261	303	197	27.8	－	Nov 8, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.5%

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	7,394	634	644	480	67.5	12.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,947	679	657	423	59.5	15	Nov 7, 2024	J-GAAP
YoY	-6.0%	+7.1%	+2.0%	-11.9%	-11.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	12,875	965	1,025	748	105.2	15	May 12, 2023	J-GAAP
Mar, 2024	12,995	784	800	584	82.1	12.50	May 10, 2024	J-GAAP
Mar, 2025 Guidance	13,200	940	960	620	87.2	15	May 10, 2024	J-GAAP
YoY	+1.6%	+19.9%	+20.0%	+6.2%	+6.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,988	87	82	56	7.9	2.9	Nov 7, 2023	J-GAAP
Oct - Dec, 2023	3,152	112	132	89	12.5	3.6	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	4,242	522	512	391	55.0	12.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	2,971	180	189	128	18.1	6.1	Aug 2, 2024	J-GAAP
Jul - Sep, 2024	3,282	81	114	69	9.8	2.5	Nov 8, 2024	J-GAAP
YoY	+9.8%	-6.9%	+39.0%	+23.2%	+23.7%