Unozawa-gumi Iron Works,Limited, First Half Ordinary Profit Unexpectedly Revised Upward by 9%

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Tue Nov 12, 2024 2:00 pm JST Earnings

6396 Unozawa-gumi Iron Works,Limited 【J-GAAP】

Earnings Report

Unozawa-gumi Iron Works,Limited <6396> [TSE-S] announced its financial results in the afternoon session on November 12th (14:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 9.5% from the same period last year, reaching 324 million yen, resulting in an increase in profits compared to the previous forecast of a 18.9% decrease.

The progress rate against the 510 million yen full-year plan was 63.5%, also surpassing the five-year average of 54.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to drop by 47.9% from the same period last year to 186 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit grew by 28.6% from the same period last year, reaching 207 million yen. The operating profit margin jumped from 10.5% in the same period last year to 14.5%.

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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	2,397	228	247	166	150.4	52.8	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	2,705	286	296	185	168.3	45.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	2,522	316	324	203	184.1	63.5	Nov 12, 2024	J-GAAP
YoY	-6.8%	+10.5%	+9.5%	+9.7%	+9.4%

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	2,500	240	240	160	144.9	0	May 13, 2024	J-GAAP
Apr - Sep, 2024 Results	2,522	316	324	203	184.1	0	Nov 12, 2024	J-GAAP
Revision Rate	+0.9%	+31.7%	+35.0%	+26.9%	+27.1%

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	2,812	350	357	239	216.5	50	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,578	184	186	147	133.1	50	Nov 12, 2024	J-GAAP
YoY	-8.3%	-47.4%	-47.9%	-38.5%	-38.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	5,105	444	468	352	319.2	50	May 12, 2023	J-GAAP
Mar, 2024	5,517	636	653	424	384.1	50	May 13, 2024	J-GAAP
Mar, 2025 Guidance	5,100	500	510	350	316.9	50	May 13, 2024	J-GAAP
YoY	-7.6%	-21.4%	-21.9%	-17.5%	-17.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,531	161	161	101	91.9	10.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,256	136	143	81	73.4	10.8	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	1,556	214	214	158	143.1	13.8	May 13, 2024	J-GAAP
Apr - Jun, 2024	1,076	107	117	66	60.2	9.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,446	209	207	137	124.3	14.5	Nov 12, 2024	J-GAAP
YoY	-5.6%	+29.8%	+28.6%	+35.6%	+35.3%