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

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%

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