FUJIKURA COMPOSITES Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 9%, Dividend Revised Upward by 4 yen

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Fri Nov 8, 2024 3:30 pm JST Earnings

5121 FUJIKURA COMPOSITES Inc. 【J-GAAP】

Earnings Report

FUJIKURA COMPOSITES Inc. <5121> [TSE-P] 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) increased by 7.7% from the same period last year, reaching 2.64 billion yen, resulting in an increase in profits compared to the previous forecast of a 22.6% decrease.

In addition, the full-year consolidated ordinary profit has been revised upward by 9.3%, from the previous forecast of 4.3 billion yen to 4.7 billion yen (compared to 3.89 billion yen in the previous period), increasing the growth rate from 10.3% to 20.6%.

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 expand by 42.6% from the same period last year, reaching 2.05 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 60 yen to 64 yen (compared to 70 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 15.8% from the same period last year, reaching 1.42 billion yen. The operating profit margin rose from 11.4% in the same period last year to 13.2%.

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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	20,284	2,171	2,799	2,101	98.8	54.4	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	19,365	2,220	2,456	2,244	96.9	63.0	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	20,181	2,369	2,644	2,241	111.7	56.3	Nov 8, 2024	J-GAAP
YoY	+4.2%	+6.7%	+7.7%	-0.1%	+15.2%

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	19,000	1,600	1,900	1,400	73.1	30	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	20,181	2,369	2,644	2,241	111.7	32	Nov 8, 2024	J-GAAP
Revision Rate	+6.2%	+48.1%	+39.2%	+60.1%	+52.7%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	39,200	3,900	4,300	3,200	167.1	60	May 10, 2024	J-GAAP
Mar, 2025 New	40,000	4,600	4,700	3,800	198.4	64	Nov 8, 2024	J-GAAP
Revision Rate	+2.0%	+17.9%	+9.3%	+18.8%	+18.8%

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	18,420	1,404	1,442	1,008	43.5	35	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	19,819	2,231	2,056	1,559	81.4	32	Nov 8, 2024	J-GAAP
YoY	+7.6%	+58.9%	+42.6%	+54.7%	+86.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	40,687	4,432	5,144	3,947	181.1	40	May 11, 2023	J-GAAP
Mar, 2024	37,785	3,624	3,898	3,252	140.5	70	May 10, 2024	J-GAAP
Mar, 2025 Guidance	40,000	4,600	4,700	3,800	198.4	64	Nov 8, 2024	J-GAAP
YoY	+5.9%	+26.9%	+20.6%	+16.9%	+41.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,060	1,142	1,232	1,364	58.9	11.4	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	9,973	991	925	694	30.0	9.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	8,447	413	517	314	13.6	4.9	May 10, 2024	J-GAAP
Apr - Jun, 2024	9,435	950	1,217	1,082	51.6	10.1	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	10,746	1,419	1,427	1,159	57.8	13.2	Nov 8, 2024	J-GAAP
YoY	+6.8%	+24.3%	+15.8%	-15.0%	-2.0%