JAPAN FOUNDATION ENGINEERING CO.,LTD., First Half Ordinary Profit Increases by 75%

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Wed Nov 13, 2024 3:00 pm JST Earnings

1914 JAPAN FOUNDATION ENGINEERING CO.,LTD. 【J-GAAP】

Earnings Report

JAPAN FOUNDATION ENGINEERING CO.,LTD. <1914> [TSE-S] announced its financial results in the afternoon session on November 13th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.13 billion yen, an increase of 75.3% compared to the same period last year, exceeded the previous forecast of 770 million yen.

The progress rate against the 1.57 billion yen full-year plan was 72.1%, also surpassing the five-year average of 46.4%.

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 drop by 41.5% from the same period last year to 440 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 177 million yen, a 31.9% decrease compared to the same period last year. However, the operating profit margin significantly improved from 2.8% in the same period last year to 6.2%.

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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	11,363	251	498	284	13.5	49.4	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	10,640	423	649	416	20.8	46.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	14,437	1,178	1,138	1,026	52.5	72.1	Nov 13, 2024	J-GAAP
YoY	+35.7%	+178.5%	+75.3%	+146.6%	+152.4%

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	12,750	670	770	570	29.6	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	14,437	1,178	1,138	1,026	52.5	0	Nov 13, 2024	J-GAAP
Revision Rate	+13.2%	+75.8%	+47.8%	+80.0%	+77.4%

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	12,935	589	752	516	25.8	16	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	13,363	222	440	-11	-0.6	16	Nov 13, 2024	J-GAAP
YoY	+3.3%	-62.3%	-41.5%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	23,908	778	1,008	526	25.4	13	May 12, 2023	J-GAAP
Mar, 2024	23,575	1,012	1,401	932	46.6	16	May 14, 2024	J-GAAP
Mar, 2025 Guidance	27,800	1,400	1,578	1,015	52.7	16	May 14, 2024	J-GAAP
YoY	+17.9%	+38.3%	+12.6%	+8.9%	+13.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,209	148	260	142	7.1	2.8	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	5,838	161	136	59	3.0	2.8	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	7,097	428	616	457	22.8	6.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	7,112	725	961	777	39.3	10.2	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	7,325	453	177	249	12.7	6.2	Nov 13, 2024	J-GAAP
YoY	+40.6%	+206.1%	-31.9%	+75.4%	+79.4%