SAKAE ELECTRONICS CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward by 35%

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Wed Nov 13, 2024 3:30 pm JST Earnings

7567 SAKAE ELECTRONICS CORPORATION 【J-GAAP】

Earnings Report

SAKAE ELECTRONICS CORPORATION <7567> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 77.5% from the same period last year to 54 million yen, fell short of the previous forecast of 110 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 35.0%, from the previous forecast of 200 million yen to 130 million yen (compared to 341 million yen in the previous period), leading to an increase in the profit decline rate from 41.3% to 61.9%.

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 24.8% from the same period last year to 76 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 9 million yen, a 89.8% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.1% in the same period last year to 0.7%.

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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	5,736	491	502	376	74.1	55.8	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	4,616	224	240	161	31.8	70.4	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	3,208	41	54	21	4.3	41.5	Nov 13, 2024	J-GAAP
YoY	-30.5%	-81.7%	-77.5%	-87.0%	-86.5%

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	3,780	99	110	69	13.6	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	3,208	41	54	21	4.3	0	Nov 13, 2024	J-GAAP
Revision Rate	-15.1%	-58.6%	-50.9%	-69.6%	-68.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	7,560	185	200	131	25.8	10	May 14, 2024	J-GAAP
Mar, 2025 New	6,585	113	130	85	16.7	10	Nov 13, 2024	J-GAAP
Revision Rate	-12.9%	-38.9%	-35.0%	-35.1%	-35.1%

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	3,750	95	101	69	13.6	10	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,377	72	76	64	12.6	10	Nov 13, 2024	J-GAAP
YoY	-9.9%	-24.2%	-24.8%	-7.2%	-7.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,839	881	900	651	128.3	12	May 12, 2023	J-GAAP
Mar, 2024	8,366	319	341	230	45.4	10	May 14, 2024	J-GAAP
Mar, 2025 Guidance	6,585	113	130	85	16.7	10	Nov 13, 2024	J-GAAP
YoY	-21.3%	-64.6%	-61.9%	-63.0%	-63.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,145	88	88	60	11.9	4.1	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	2,032	68	72	49	9.7	3.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	1,718	27	29	20	4.0	1.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	1,667	30	45	31	6.1	1.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,541	11	9	-10	-2.0	0.7	Nov 13, 2024	J-GAAP
YoY	-28.2%	-87.5%	-89.8%	－	－