JAPAN ELECTRONIC MATERIALS CORPORATION, First Half Ordinary Profit Increases by 13 times, July-September Ordinary Profit Turns to Profit

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Fri Nov 8, 2024 3:30 pm JST Earnings

6855 JAPAN ELECTRONIC MATERIALS CORPORATION 【J-GAAP】

Earnings Report

JAPAN ELECTRONIC MATERIALS CORPORATION <6855> [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) surged by 13 times that of the same period last year, reaching 1.99 billion yen. The progress rate against the 3.4 billion yen full-year plan was 58.7%, also surpassing the five-year average of 41.5%.

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 expand by 64.5% from the same period last year, reaching 1.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 731 million yen (compared to a loss of 187 million yen in the same period last year). The operating profit/loss margin drastically improved from -6.2% in the same period last year to 17.9%.

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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	9,562	1,240	1,530	1,082	85.9	45.8	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	8,001	20	153	84	6.7	15.2	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	9,841	2,050	1,995	1,347	106.7	58.7	Nov 8, 2024	J-GAAP
YoY	+23.0%	+10,150.0%	+1,203.9%	+1,503.6%	+1,490.5%

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	10,000	2,300	2,500	1,700	134.6	30	Aug 7, 2024	J-GAAP
Apr - Sep, 2024 Results	9,841	2,050	1,995	1,347	106.7	30	Nov 8, 2024	J-GAAP
Revision Rate	-1.6%	-10.9%	-20.2%	-20.8%	-20.7%

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	9,460	850	854	538	42.7	20	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,759	1,550	1,405	1,053	83.4	25	Nov 8, 2024	J-GAAP
YoY	+13.7%	+82.4%	+64.5%	+95.7%	+95.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	20,781	3,205	3,338	2,612	207.3	40	May 15, 2023	J-GAAP
Mar, 2024	17,461	870	1,007	622	49.3	40	May 14, 2024	J-GAAP
Mar, 2025 Guidance	20,600	3,600	3,400	2,400	190.0	55	Sep 25, 2024	J-GAAP
YoY	+18.0%	+313.8%	+237.6%	+285.9%	+285.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,864	-238	-187	-142	-11.3	-6.2	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	4,007	3	-70	-112	-8.9	0.1	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	5,453	847	924	650	51.5	15.5	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,992	1,180	1,264	868	68.8	23.6	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	4,849	870	731	479	38.0	17.9	Nov 8, 2024	J-GAAP
YoY	+25.5%	－	－	－	－