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

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 2,188 331.0 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%

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