OKAYA ELECTRIC INDUSTRIES CO.,LTD., First Half Ordinary Profit Turns to Loss, July-September Ordinary Profit Turns to Loss

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Wed Nov 13, 2024 3:30 pm JST Earnings

6926 OKAYA ELECTRIC INDUSTRIES CO.,LTD. 【J-GAAP】

Earnings Report

OKAYA ELECTRIC INDUSTRIES CO.,LTD. <6926> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 813 million yen (compared to a profit of 636 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 213 million yen (compared to a loss of 207 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 383 million yen (compared to a profit of 135 million yen in the same period last year). The operating profit/loss margin drastically worsened from 3.2% in the same period last year to -21.1%.

Kabutan News

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	8,563	152	285	244	10.9	34.3	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	8,138	603	636	467	20.9	148.3	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	4,536	-898	-813	-798	-35.7	ー	Nov 13, 2024	J-GAAP
YoY	-44.3%	－	－	－	－

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	4,700	-750	-750	-765	-34.2	0	Aug 9, 2024	J-GAAP
Apr - Sep, 2024 Results	4,536	-898	-813	-798	-35.7	0	Nov 13, 2024	J-GAAP
Revision Rate	-3.5%	-19.7%	-8.4%	-4.3%	-4.4%

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	6,185	-203	-207	-347	-15.6	4	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,964	298	213	108	4.8	4	Nov 13, 2024	J-GAAP
YoY	+12.6%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	17,109	668	830	613	27.4	4	May 12, 2023	J-GAAP
Mar, 2024	14,323	400	429	120	5.4	4	May 15, 2024	J-GAAP
Mar, 2025 Guidance	11,500	-600	-600	-690	-30.8	4	Aug 9, 2024	J-GAAP
YoY	-19.7%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,714	119	135	68	3.0	3.2	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	3,249	-48	15	11	0.5	-1.5	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	2,936	-155	-222	-358	-16.1	-5.3	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,327	-432	-430	-417	-18.7	-18.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	2,209	-466	-383	-381	-17.0	-21.1	Nov 13, 2024	J-GAAP
YoY	-40.5%	－	－	－	－