FURUKAWA CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 8%

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Mon Nov 11, 2024 3:30 pm JST Earnings

5715 FURUKAWA CO.,LTD. 【J-GAAP】

Earnings Report

FURUKAWA CO.,LTD. <5715> [TSE-P] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 43.6% from the same period last year to 3.42 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 7.5%, from the previous forecast of 8 billion yen to 7.4 billion yen (compared to 10.3 billion yen in the previous period), leading to an increase in the profit decline rate from 23.0% to 28.7%. However, the full-year consolidated net income has been revised upward by 14.3%, from the previous forecast of 14 billion yen to 16 billion yen (compared to 16 billion yen in the previous period), and the declining rate is expected to decrease from 13.0% to 0.6%.

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 decrease by 7.8% from the same period last year to 3.97 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 298 million yen, a 83.5% decrease compared to the same period last year. The operating profit margin worsened from 3.9% in the same period last year to 2.6%.

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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	104,576	3,372	5,219	3,448	89.4	55.8	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	94,793	4,599	6,074	12,911	341.5	58.5	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	93,522	3,489	3,428	8,725	236.6	46.3	Nov 11, 2024	J-GAAP
YoY	-1.3%	-24.1%	-43.6%	-32.4%	-30.7%

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	91,000	3,700	3,700	10,000	275.8	30	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	93,522	3,489	3,428	8,725	236.6	30	Nov 11, 2024	J-GAAP
Revision Rate	+2.8%	-5.7%	-7.4%	-12.8%	-14.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	187,700	8,700	8,000	14,000	386.1	60	May 13, 2024	J-GAAP
Mar, 2025 New	187,700	8,200	7,400	16,000	441.3	60	Nov 11, 2024	J-GAAP
Revision Rate	0.0%	-5.7%	-7.5%	+14.3%	+14.3%

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	93,462	3,925	4,310	3,186	85.0	55	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	94,178	4,711	3,972	7,275	200.7	30	Nov 11, 2024	J-GAAP
YoY	+0.8%	+20.0%	-7.8%	+128.3%	+136.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	214,190	9,031	9,348	6,211	162.0	50	May 12, 2023	J-GAAP
Mar, 2024	188,255	8,524	10,384	16,097	429.3	55	May 13, 2024	J-GAAP
Mar, 2025 Guidance	187,700	8,200	7,400	16,000	441.3	60	Nov 11, 2024	J-GAAP
YoY	-0.3%	-3.8%	-28.7%	-0.6%	+2.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	47,321	1,838	1,807	10,477	277.1	3.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	47,241	2,069	2,131	1,852	49.3	4.4	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	46,221	1,856	2,179	1,334	35.6	4.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	47,657	2,296	3,130	2,258	60.7	4.8	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	45,865	1,193	298	6,467	175.4	2.6	Nov 11, 2024	J-GAAP
YoY	-3.1%	-35.1%	-83.5%	-38.3%	-36.7%