Foster Electric Company, Limited, The Current Fiscal Year Ordinary Profit Revised Upward by 30%, Dividend Revised Upward by 10 yen

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Mon Nov 11, 2024 3:30 pm JST Earnings

6794 Foster Electric Company, Limited 【J-GAAP】

Earnings Report

Foster Electric Company, Limited <6794> [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) expanded to 4.1 billion yen, an increase of 92.1% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 30.0%, from the previous forecast of 5 billion yen to 6.5 billion yen (compared to 4.3 billion yen in the previous period), increasing the growth rate from 16.1% to 51.0%.

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 grow by 10.4% from the same period last year, reaching 2.39 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 40 yen to 50 yen (compared to 25 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 44.2% from the same period last year, reaching 2.35 billion yen. The operating profit margin improved from 4.9% in the same period last year to 6.5%.

Kabutan News

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	58,385	351	404	-249	-11.3	17.4	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	59,701	2,165	2,139	1,114	50.2	49.7	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	66,612	3,622	4,108	2,363	106.1	63.2	Nov 11, 2024	J-GAAP
YoY	+11.6%	+67.3%	+92.1%	+112.1%	+111.5%

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	ー	ー	ー	ー	－	20	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	66,612	3,622	4,108	2,363	106.1	20	Nov 11, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	130,000	5,500	5,000	3,000	134.4	40	May 15, 2024	J-GAAP
Mar, 2025 New	135,000	6,500	6,500	3,500	156.8	50	Nov 11, 2024	J-GAAP
Revision Rate	+3.8%	+18.2%	+30.0%	+16.7%	+16.7%

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	62,746	2,247	2,166	1,190	53.6	15	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	68,388	2,878	2,392	1,137	50.9	30	Nov 11, 2024	J-GAAP
YoY	+9.0%	+28.1%	+10.4%	-4.5%	-4.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	121,338	2,445	2,327	848	38.2	20	May 11, 2023	J-GAAP
Mar, 2024	122,447	4,412	4,305	2,304	103.7	25	May 15, 2024	J-GAAP
Mar, 2025 Guidance	135,000	6,500	6,500	3,500	156.8	50	Nov 11, 2024	J-GAAP
YoY	+10.3%	+47.3%	+51.0%	+51.9%	+51.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	31,951	1,563	1,630	1,150	51.8	4.9	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	31,143	1,697	1,868	1,366	61.5	5.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	31,603	550	298	-176	-7.9	1.7	May 15, 2024	J-GAAP
Apr - Jun, 2024	31,687	1,351	1,757	1,106	49.7	4.3	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	34,925	2,271	2,351	1,257	56.5	6.5	Nov 11, 2024	J-GAAP
YoY	+9.3%	+45.3%	+44.2%	+9.3%	+9.0%