Shindengen Electric Manufacturing Co.,Ltd., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Loss Widens

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Fri Nov 8, 2024 3:30 pm JST Earnings

6844 Shindengen Electric Manufacturing Co.,Ltd. 【J-GAAP】

Earnings Report

Shindengen Electric Manufacturing Co.,Ltd. <6844> [TSE-P] announced its financial results after the market closed on November 8th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 298 million yen (compared to a profit of 673 million yen in the same period last year).

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 surge by 2.0 times that of the same period last year, reaching 1.99 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 803 million yen (compared to a loss of 146 million yen in the same period last year). However, the operating profit/loss margin improved from -0.1% in the same period last year to 1.0%.

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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	48,124	1,479	2,244	1,540	149.4	51.9	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	49,602	406	673	-958	-93.0	40.5	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	50,563	366	-298	-1,089	-105.6	ー	Nov 8, 2024	J-GAAP
YoY	+1.9%	-9.9%	－	-13.7%	-13.6%

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	50,500	300	-300	-1,100	-106.6	0	Nov 1, 2024	J-GAAP
Apr - Sep, 2024 Results	50,563	366	-298	-1,089	-105.6	0	Nov 8, 2024	J-GAAP
Revision Rate	+0.1%	+22.0%	+0.7%	+1.0%	+0.9%

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	52,659	872	987	246	23.9	130	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	55,737	1,834	1,998	1,389	134.6	130	Nov 8, 2024	J-GAAP
YoY	+5.8%	+110.3%	+102.4%	+464.6%	+464.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	101,007	3,621	4,326	1,644	159.6	130	May 15, 2023	J-GAAP
Mar, 2024	102,261	1,278	1,660	-712	-69.1	130	May 14, 2024	J-GAAP
Mar, 2025 Guidance	106,300	2,200	1,700	300	29.1	130	Nov 1, 2024	J-GAAP
YoY	+3.9%	+72.1%	+2.4%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	25,147	-19	-146	-490	-47.5	-0.1	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	26,436	626	654	139	13.5	2.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	26,223	246	333	107	10.4	0.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	24,951	112	505	224	21.8	0.4	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	25,612	254	-803	-1,313	-127.4	1.0	Nov 8, 2024	J-GAAP
YoY	+1.8%	－	-450.0%	-168.0%	-167.9%