YUKEN KOGYO CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 9% Increase, Dividend Revised Upward by 25 yen

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Fri Nov 8, 2024 3:30 pm JST Earnings

6393 YUKEN KOGYO CO., LTD. 【J-GAAP】

Earnings Report

YUKEN KOGYO CO., LTD. <6393> [TSE-S] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 758 million yen, an increase of 38.8% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 25.0%, from the previous forecast of 1.4 billion yen to 1.75 billion yen (compared to 1.6 billion yen in the previous period), turning to a 9.2% increase in the consolidated ordinary profit outlook.

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 decrease by 6.1% from the same period last year to 992 million yen.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 105 yen to 130 yen (compared to 105 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 53.8% from the same period last year, reaching 283 million yen. The operating profit margin improved from 2.3% in the same period last year to 4.7%.

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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	14,015	537	729	834	204.5	57.2	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	13,869	436	546	357	89.7	34.1	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	15,654	698	758	456	118.3	43.3	Nov 8, 2024	J-GAAP
YoY	+12.9%	+60.1%	+38.8%	+27.7%	+31.9%

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	15,900	700	800	400	104.7	0	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	15,654	698	758	456	118.3	0	Nov 8, 2024	J-GAAP
Revision Rate	-1.5%	-0.3%	-5.3%	+14.0%	+13.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	33,500	1,600	1,400	820	214.6	105	May 15, 2024	J-GAAP
Mar, 2025 New	32,500	1,650	1,750	1,000	261.7	130	Nov 8, 2024	J-GAAP
Revision Rate	-3.0%	+3.1%	+25.0%	+22.0%	+22.0%

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	15,642	942	1,057	428	108.9	105	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	16,846	952	992	544	142.4	130	Nov 8, 2024	J-GAAP
YoY	+7.7%	+1.1%	-6.1%	+27.1%	+30.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	28,684	1,129	1,274	1,368	337.2	100	May 12, 2023	J-GAAP
Mar, 2024	29,511	1,378	1,603	785	199.7	105	May 15, 2024	J-GAAP
Mar, 2025 Guidance	32,500	1,650	1,750	1,000	261.7	130	Nov 8, 2024	J-GAAP
YoY	+10.1%	+19.7%	+9.2%	+27.4%	+31.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,219	163	184	161	40.5	2.3	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	7,446	432	501	299	75.8	5.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	8,196	510	556	129	32.8	6.2	May 15, 2024	J-GAAP
Apr - Jun, 2024	7,595	317	475	281	72.7	4.2	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	8,059	381	283	175	45.4	4.7	Nov 8, 2024	J-GAAP
YoY	+11.6%	+133.7%	+53.8%	+8.7%	+12.2%