YOTAI REFRACTORIES CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 6% Decrease

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Fri Nov 8, 2024 4:00 pm JST Earnings

5357 YOTAI REFRACTORIES CO.,LTD. 【J-GAAP】

Earnings Report

YOTAI REFRACTORIES CO.,LTD. <5357> [TSE-P] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 3.7% from the same period last year to 1.66 billion yen, resulting in a decrease in profits compared to the previous forecast of a 12.7% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 10.3%, from the previous forecast of 3.9 billion yen to 3.5 billion yen (compared to 3.7 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 5.5% decrease in profit.

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 7.1% from the same period last year to 1.83 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 747 million yen, a 15.3% decrease compared to the same period last year. The operating profit margin decreased from 12.3% in the same period last year to 10.6%.

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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	13,569	1,997	2,037	1,424	69.7	49.2	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	14,135	1,661	1,731	1,197	62.6	46.7	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	14,472	1,587	1,667	1,174	63.1	47.6	Nov 8, 2024	J-GAAP
YoY	+2.4%	-4.5%	-3.7%	-1.9%	+0.8%

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	15,000	1,900	1,950	1,375	73.8	45	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	14,472	1,587	1,667	1,174	63.1	45	Nov 8, 2024	J-GAAP
Revision Rate	-3.5%	-16.5%	-14.5%	-14.6%	-14.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	30,000	3,800	3,900	2,750	150.3	90	May 10, 2024	J-GAAP
Mar, 2025 New	29,500	3,400	3,500	2,450	133.9	90	Nov 8, 2024	J-GAAP
Revision Rate	-1.7%	-10.5%	-10.3%	-10.9%	-10.9%

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	14,993	1,941	1,973	2,681	142.1	60	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	15,028	1,813	1,833	1,276	69.7	45	Nov 8, 2024	J-GAAP
YoY	+0.2%	-6.6%	-7.1%	-52.4%	-50.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	28,250	4,012	4,143	2,971	147.3	45	May 12, 2023	J-GAAP
Mar, 2024	29,128	3,602	3,704	3,878	205.5	85	May 10, 2024	J-GAAP
Mar, 2025 Guidance	29,500	3,400	3,500	2,450	133.9	90	Nov 8, 2024	J-GAAP
YoY	+1.3%	-5.6%	-5.5%	-36.8%	-34.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	7,065	868	882	613	32.0	12.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	8,140	1,047	1,069	1,489	78.5	12.9	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	6,853	894	904	1,192	63.2	13.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	7,528	850	920	645	34.7	11.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	6,944	737	747	529	28.4	10.6	Nov 8, 2024	J-GAAP
YoY	-1.7%	-15.1%	-15.3%	-13.7%	-11.3%