SHIBAURA ELECTRONICS CO.,LTD., First Half Ordinary Profit Decreases by 3%

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Mon Nov 11, 2024 4:00 pm JST Earnings

6957 SHIBAURA ELECTRONICS CO.,LTD. 【J-GAAP】

Earnings Report

SHIBAURA ELECTRONICS CO.,LTD. <6957> [TSE-S] announced its financial results after the market closed on November 11th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was 2.65 billion yen, a 2.7% decrease compared to the same period last year. The progress rate against the 4.8 billion yen full-year plan was 55.3%, also surpassing the five-year average of 45.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 16.7% from the same period last year to 2.14 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.19 billion yen, a 13.1% decrease compared to the same period last year. However, the operating profit margin rose from 15.5% in the same period last year to 16.1%.

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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	16,370	2,606	2,787	1,829	119.0	49.6	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	16,183	2,575	2,726	1,869	122.8	51.4	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	16,775	2,747	2,653	1,759	116.2	55.3	Nov 11, 2024	J-GAAP
YoY	+3.7%	+6.7%	-2.7%	-5.9%	-5.4%

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	16,000	2,400	2,400	1,680	111.4	0	May 10, 2024	J-GAAP
Apr - Sep, 2024 Results	16,775	2,747	2,653	1,759	116.2	0	Nov 11, 2024	J-GAAP
Revision Rate	+4.8%	+14.5%	+10.5%	+4.7%	+4.3%

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	16,218	2,529	2,577	1,953	128.1	150	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	15,225	2,053	2,147	1,601	106.2	150	Nov 11, 2024	J-GAAP
YoY	-6.1%	-18.8%	-16.7%	-18.0%	-17.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	33,193	5,460	5,617	3,830	250.3	100	May 11, 2023	J-GAAP
Mar, 2024	32,401	5,104	5,303	3,822	250.7	150	May 10, 2024	J-GAAP
Mar, 2025 Guidance	32,000	4,800	4,800	3,360	222.8	150	May 10, 2024	J-GAAP
YoY	-1.2%	-6.0%	-9.5%	-12.1%	-11.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	8,292	1,285	1,373	997	65.5	15.5	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	8,292	1,404	1,392	1,019	66.9	16.9	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	7,926	1,125	1,185	934	61.3	14.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	8,247	1,376	1,460	945	62.3	16.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	8,528	1,371	1,193	814	53.8	16.1	Nov 11, 2024	J-GAAP
YoY	+2.8%	+6.7%	-13.1%	-18.4%	-17.9%