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

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%.

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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 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% － － － －

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