SHIBAURA MACHINE CO., LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 5%

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Tue Nov 12, 2024 4:00 pm JST Earnings

6104 SHIBAURA MACHINE CO., LTD. 【J-GAAP】

Earnings Report

SHIBAURA MACHINE CO., LTD. <6104> [TSE-P] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 11.4% from the same period last year to 8 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 4.8%, from the previous forecast of 12.6 billion yen to 13.2 billion yen (compared to 14.6 billion yen in the previous period), and the declining rate is expected to decrease from 13.7% to 9.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 6.7% from the same period last year to 5.19 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 3.6 billion yen, a 35.7% decrease compared to the same period last year. The operating profit margin decreased from 11.7% 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	58,952	1,670	2,156	1,847	76.5	40.8	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	81,915	8,164	9,035	14,359	594.2	61.9	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	86,823	8,434	8,003	8,598	359.4	60.6	Nov 12, 2024	J-GAAP
YoY	+6.0%	+3.3%	-11.4%	-40.1%	-39.5%

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	85,000	6,500	5,600	6,900	292.1	70	Jun 24, 2024	J-GAAP
Apr - Sep, 2024 Results	86,823	8,434	8,003	8,598	359.4	70	Nov 12, 2024	J-GAAP
Revision Rate	+2.1%	+29.8%	+42.9%	+24.6%	+23.0%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	170,000	14,000	12,600	9,200	389.3	140	May 13, 2024	J-GAAP
Mar, 2025 New	170,000	14,000	13,200	11,700	495.1	140	Nov 12, 2024	J-GAAP
Revision Rate	0.0%	0.0%	+4.8%	+27.2%	+27.2%

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	78,738	5,450	5,569	3,561	147.4	70	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	83,177	5,566	5,197	3,102	131.3	70	Nov 12, 2024	J-GAAP
YoY	+5.6%	+2.1%	-6.7%	-12.9%	-10.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	123,197	5,765	5,279	6,441	266.6	107.50	May 15, 2023	J-GAAP
Mar, 2024	160,653	13,614	14,604	17,920	741.6	140	May 13, 2024	J-GAAP
Mar, 2025 Guidance	170,000	14,000	13,200	11,700	495.1	140	Nov 12, 2024	J-GAAP
YoY	+5.8%	+2.8%	-9.6%	-34.7%	-33.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	47,161	5,539	5,607	11,667	482.8	11.7	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	27,633	1,490	1,548	1,020	42.2	5.4	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	51,105	3,960	4,021	2,541	105.2	7.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	42,374	3,955	4,400	2,919	121.3	9.3	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	44,449	4,479	3,603	5,679	237.4	10.1	Nov 12, 2024	J-GAAP
YoY	-5.8%	-19.1%	-35.7%	-51.3%	-50.8%