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PULSTEC INDUSTRIAL CO.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 40%Decrease

Wed Nov 13, 2024 3:30 pm JST Earnings

6894 PULSTEC INDUSTRIAL CO.,LTD. 【J-GAAP】

Earnings Report

PULSTEC INDUSTRIAL CO.,LTD. <6894> [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) dropped by 39.8% from the same period last year to 53 million yen, resulting in a decrease in profits compared to the previous forecast of a 21.6% increase.

The progress rate against the 312 million yen full-year plan was 17.0%, also falling below the five-year average of 31.7%.

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 decrease by 13.1% from the same period last year to 259 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 48 million yen, a 52.9% decrease compared to the same period last year. The operating profit margin decreased from 14.0% in the same period last year to 12.5%.

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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 1,178 93 120 82 60.1 36.1 Nov 9, 2022 J-GAAP
Apr - Sep, 2023 993 69 88 76 55.8 22.8 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 971 55 53 25 18.6 17.0 Nov 13, 2024 J-GAAP
YoY -2.2% -20.3% -39.8% -67.1% -66.7%

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 1,000 100 107 86 62.9 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 971 55 53 25 18.6 0 Nov 13, 2024 J-GAAP
Revision Rate -2.9% -45.0% -50.5% -70.9% -70.5%

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 1,619 289 298 251 183.4 110 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 1,379 245 259 200 146.2 60 Nov 13, 2024 J-GAAP
YoY -14.8% -15.2% -13.1% -20.3% -20.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 2,448 301 332 242 177.5 70 May 12, 2023 J-GAAP
Mar, 2024 2,612 358 386 327 239.0 110 May 10, 2024 J-GAAP
Mar, 2025 Guidance 2,350 300 312 225 164.5 60 May 10, 2024 J-GAAP
YoY -10.0% -16.2% -19.2% -31.2% -31.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 684 96 102 86 63.1 14.0 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 560 73 71 48 35.2 13.0 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 1,059 216 227 203 148.4 20.4 May 10, 2024 J-GAAP
Apr - Jun, 2024 437 -12 5 -2 -1.6 -2.7 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 534 67 48 27 20.0 12.5 Nov 13, 2024 J-GAAP
YoY -21.9% -30.2% -52.9% -68.6% -68.3%

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