STAR MICRONICS CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 35%

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Wed Nov 13, 2024 3:30 pm JST Earnings

7718 STAR MICRONICS CO.,LTD. 【J-GAAP】

Earnings Report

STAR MICRONICS CO.,LTD. <7718> [TSE-P] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 63.9% from the same period last year to 3.64 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 35.0%, from the previous forecast of 6 billion yen to 3.9 billion yen (compared to 10.9 billion yen in the previous period), leading to an increase in the profit decline rate from 45.3% to 64.4%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 52.6%, from the previous forecast of 3.99 billion yen to 1.89 billion yen (compared to 3.34 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 43.5% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit dropped to 1.63 billion yen, a 33.6% decrease compared to the same period last year. The operating profit margin decreased from 12.8% in the same period last year to 10.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	61,657	9,286	9,219	6,572	172.6	64.9	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	60,768	9,658	10,075	7,065	188.6	91.9	Nov 9, 2023	J-GAAP
Jan - Sep, 2024	48,047	3,309	3,642	1,563	44.6	93.4	Nov 13, 2024	J-GAAP
YoY	-20.9%	-65.7%	-63.9%	-77.9%	-76.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	37,014	3,852	3,992	3,116	97.4	30	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	31,814	1,852	1,892	1,216	38.0	30	Nov 13, 2024	J-GAAP
Revision Rate	-14.0%	-51.9%	-52.6%	-61.0%	-61.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	68,000	5,400	6,000	3,700	115.6	60	Aug 9, 2024	J-GAAP
Dec, 2024 New	62,800	3,400	3,900	1,800	56.2	60	Nov 13, 2024	J-GAAP
Revision Rate	-7.6%	-37.0%	-35.0%	-51.4%	-51.4%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	35,270	2,970	3,346	2,937	78.6	30	Feb 9, 2024	J-GAAP
Jul - Dec, 2024 Guidance	31,814	1,852	1,892	1,216	38.0	30	Nov 13, 2024	J-GAAP
YoY	-9.8%	-37.6%	-43.5%	-58.6%	-51.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	87,368	13,925	14,199	10,298	271.1	70	Feb 9, 2023	J-GAAP
Dec, 2023	78,196	10,350	10,960	8,175	218.9	60	Feb 9, 2024	J-GAAP
Dec, 2024 Guidance	62,800	3,400	3,900	1,800	56.2	60	Nov 13, 2024	J-GAAP
YoY	-19.7%	-67.1%	-64.4%	-78.0%	-74.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	17,842	2,278	2,461	1,827	48.8	12.8	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	17,428	692	885	1,110	29.7	4.0	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	13,920	775	999	626	17.1	5.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	17,066	773	1,009	-42	-1.2	4.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	17,061	1,761	1,634	979	27.9	10.3	Nov 13, 2024	J-GAAP
YoY	-4.4%	-22.7%	-33.6%	-46.4%	-42.8%