OKAMOTO MACHINE TOOL WORKS, LTD., First Half Ordinary Profit Decreases by 82%

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Tue Nov 12, 2024 3:30 pm JST Earnings

6125 OKAMOTO MACHINE TOOL WORKS, LTD. 【J-GAAP】

Earnings Report

OKAMOTO MACHINE TOOL WORKS, LTD. <6125> [TSE-S] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 82.2% from the same period last year to 525 million yen, fell short of the previous forecast of 700 million yen.

The progress rate against the 3.6 billion yen full-year plan was 14.6%, also falling below the five-year average of 42.9%.

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 7.9% from the same period last year to 3.07 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 968 million yen, a 32.7% decrease compared to the same period last year. The operating profit margin decreased from 11.5% in the same period last year to 10.1%.

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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	22,382	2,662	2,701	1,878	410.5	48.6	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	24,673	2,908	2,944	1,860	396.0	46.8	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	20,041	891	525	312	53.6	14.6	Nov 12, 2024	J-GAAP
YoY	-18.8%	-69.4%	-82.2%	-83.2%	-86.5%

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	20,000	700	700	400	59.9	80	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	20,041	891	525	312	53.6	80	Nov 12, 2024	J-GAAP
Revision Rate	+0.2%	+27.3%	-25.0%	-22.0%	-10.5%

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	25,525	3,225	3,340	2,696	574.0	100	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	24,959	2,709	3,075	2,188	330.9	80	Nov 12, 2024	J-GAAP
YoY	-2.2%	-16.0%	-7.9%	-18.8%	-42.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	45,524	5,598	5,552	4,029	870.5	180	May 12, 2023	J-GAAP
Mar, 2024	50,198	6,133	6,284	4,556	970.0	200	May 14, 2024	J-GAAP
Mar, 2025 Guidance	45,000	3,600	3,600	2,500	378.1	160	May 14, 2024	J-GAAP
YoY	-10.4%	-41.3%	-42.7%	-45.1%	-61.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,551	1,439	1,438	914	194.6	11.5	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	10,388	743	707	705	150.1	7.2	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	15,137	2,482	2,633	1,991	423.9	16.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	7,716	-351	-443	-392	-75.5	-4.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	12,325	1,242	968	704	120.9	10.1	Nov 12, 2024	J-GAAP
YoY	-1.8%	-13.7%	-32.7%	-23.0%	-37.9%