SINKO INDUSTRIES LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 5%, Highest in Five Terms, Dividend Effectively Increased

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Tue Nov 12, 2024 4:00 pm JST Earnings

6458 SINKO INDUSTRIES LTD. 【J-GAAP】

Earnings Report

SINKO INDUSTRIES LTD. <6458> [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) expanded to 3.9 billion yen, an increase of 40.1% compared to the same period last year, exceeded the previous forecast of 3.05 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 5.3%, from the previous forecast of 9.5 billion yen to 10 billion yen (compared to 9.12 billion yen in the previous period), increasing the growth rate from 4.2% to 9.6%, reaches new record high for the first time in five terms.

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 3.8% from the same period last year to 6.09 billion yen.

At the same time, Due to a planned 1-to-3 stock split is scheduled for November 30, the annual dividend for the current fiscal year has been revised from the original plan of 135 yen to 86 yen (equivalent to 150 yen before the stock split) This effectively represents a 11.1% increase in the annual dividend.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 1.67 billion yen, an increase of 1.0% compared to the same period last year. However, the operating profit margin decreased from 12.9% in the same period last year to 12.8%.

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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	17,910	1,459	1,827	1,270	16.7	27.9	Nov 8, 2022	J-GAAP
Apr - Sep, 2023	22,290	2,527	2,789	2,070	27.7	30.6	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	24,201	3,561	3,907	3,138	42.7	39.1	Nov 12, 2024	J-GAAP
YoY	+8.6%	+40.9%	+40.1%	+51.6%	+54.1%

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	23,200	2,800	3,050	2,400	33.0	15	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	24,201	3,561	3,907	3,138	42.7	18	Nov 12, 2024	J-GAAP
Revision Rate	+4.3%	+27.2%	+28.1%	+30.8%	+29.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	54,000	9,100	9,500	6,800	94.7	45	May 14, 2024	J-GAAP
Mar, 2025 New	55,000	9,500	10,000	7,350	102.3	50	Nov 12, 2024	J-GAAP
Revision Rate	+1.9%	+4.4%	+5.3%	+8.1%	+8.1%

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	29,653	6,100	6,331	4,510	60.6	23.33	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	30,799	5,939	6,093	4,212	58.6	32	Nov 12, 2024	J-GAAP
YoY	+3.9%	-2.6%	-3.8%	-6.6%	-3.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	44,805	5,998	6,540	4,514	59.5	19	May 12, 2023	J-GAAP
Mar, 2024	51,943	8,627	9,120	6,580	88.4	35	May 14, 2024	J-GAAP
Mar, 2025 Guidance	55,000	9,500	10,000	7,350	102.3	50	Nov 12, 2024	J-GAAP
YoY	+5.9%	+10.1%	+9.6%	+11.7%	+15.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	12,411	1,600	1,661	1,313	17.6	12.9	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	13,996	2,826	2,994	2,131	28.6	20.2	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	15,657	3,274	3,337	2,379	32.0	20.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	11,651	1,958	2,230	1,562	21.2	16.8	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	12,550	1,603	1,677	1,576	21.5	12.8	Nov 12, 2024	J-GAAP
YoY	+1.1%	+0.2%	+1.0%	+20.0%	+22.0%