WAIDA MFG.CO.,LTD., First Half Ordinary Profit Decreases by 35%

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Mon Nov 11, 2024 4:10 pm JST Earnings

6158 WAIDA MFG.CO.,LTD. 【J-GAAP】

Earnings Report

WAIDA MFG.CO.,LTD. <6158> [TSE-S] announced its financial results after the market closed on November 11th (16:10). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 35.1% from the same period last year to 394 million yen. The progress rate against the 627 million yen full-year plan was 62.8%, also surpassing the five-year average of 48.4%.

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 significant drop by 51.8% from the same period last year to 233 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 339 million yen, a 22.1% decrease compared to the same period last year. The operating profit margin decreased from 19.1% in the same period last year to 17.4%.

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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	3,519	494	568	405	62.8	46.9	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	3,742	529	607	382	59.0	55.7	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	3,883	403	394	226	34.9	62.8	Nov 11, 2024	J-GAAP
YoY	+3.8%	-23.8%	-35.1%	-40.8%	-40.9%

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	3,883	394	394	226	34.7	16	Nov 5, 2024	J-GAAP
Apr - Sep, 2024 Results	3,883	403	394	226	34.9	16	Nov 11, 2024	J-GAAP
Revision Rate	0.0%	+2.3%	0.0%	0.0%	+0.4%

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	3,796	440	483	345	53.3	20	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,647	177	233	156	24.0	16	Nov 11, 2024	J-GAAP
YoY	-3.9%	-59.8%	-51.8%	-54.8%	-55.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,581	1,155	1,210	868	134.3	37	May 11, 2023	J-GAAP
Mar, 2024	7,538	969	1,090	727	112.2	40	May 10, 2024	J-GAAP
Mar, 2025 Guidance	7,530	580	627	382	58.7	32	Nov 5, 2024	J-GAAP
YoY	-0.1%	-40.1%	-42.5%	-47.5%	-47.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,256	430	435	258	39.9	19.1	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	1,844	222	229	193	29.8	12.0	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	1,952	218	254	152	23.5	11.2	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,503	-11	55	17	2.7	-0.7	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	2,380	414	339	209	32.3	17.4	Nov 11, 2024	J-GAAP
YoY	+5.5%	-3.7%	-22.1%	-19.0%	-19.0%