Shikino High-Tech CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 61%

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Mon Nov 11, 2024 3:30 pm JST Earnings

6614 Shikino High-Tech CO.,LTD. 【J-GAAP】

Earnings Report

Shikino High-Tech CO.,LTD. <6614> [TSE-S] announced its financial results after the market closed on November 11th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 94.1% from the same period last year to 21 million yen.

In addition, the full-year ordinary profit has downwardly by 60.5%, from the previous forecast of 380 million yen to 150 million yen (compared to 639 million yen in the previous period), leading to an increase in the profit decline rate from 40.5% to 76.5%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to significant drop by 54.6% from the same period last year to 129 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit significantly dropped to 80 million yen, a 57.2% decrease compared to the same period last year. The operating profit margin sharply declined from 10.3% in the same period last year to 5.0%.

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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	2,930	236	241	163	37.1	36.1	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	3,499	348	355	248	56.2	55.6	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	3,156	24	21	17	4.1	14.0	Nov 11, 2024	J-GAAP
YoY	-9.8%	-93.1%	-94.1%	-93.1%	-92.8%

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	ー	ー	ー	ー	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	3,156	24	21	17	4.1	0	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	7,475	385	380	270	61.0	15	May 14, 2024	J-GAAP
Mar, 2025 New	6,715	155	150	130	29.4	15	Nov 11, 2024	J-GAAP
Revision Rate	-10.2%	-59.7%	-60.5%	-51.9%	-51.9%

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	3,592	256	284	261	59.1	15	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,559	131	129	113	25.6	15	Nov 11, 2024	J-GAAP
YoY	-0.9%	-48.8%	-54.6%	-56.7%	-56.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	6,476	657	668	477	108.0	15	May 11, 2023	J-GAAP
Mar, 2024	7,091	604	639	509	115.2	15	May 14, 2024	J-GAAP
Mar, 2025 Guidance	6,715	155	150	130	29.4	15	Nov 11, 2024	J-GAAP
YoY	-5.3%	-74.3%	-76.5%	-74.5%	-74.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,822	188	187	130	29.4	10.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,745	164	164	109	24.7	9.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,847	92	120	152	34.4	5.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	1,505	-59	-59	-41	-9.4	-3.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,651	83	80	58	13.8	5.0	Nov 11, 2024	J-GAAP
YoY	-9.4%	-55.9%	-57.2%	-55.4%	-53.0%