Okura Industrial Co.,Ltd., July-September (3Q) Ordinary Profit Decreases by 45%, Current Fiscal Year Dividend Revised Upward by 45 yen

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Wed Nov 13, 2024 3:30 pm JST Earnings

4221 Okura Industrial Co.,Ltd. 【J-GAAP】

Earnings Report

Okura Industrial Co.,Ltd. <4221> [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) decreased by 15.4% from the same period last year to 3.47 billion yen. The progress rate against the 5.7 billion yen full-year plan was 60.9%, also falling below the five-year average of 77.0%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to expand by 69.7% from the same period last year, reaching 2.22 billion yen.

At the same time, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 110 yen to 155 yen (compared to 110 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit dropped to 769 million yen, a 44.7% decrease compared to the same period last year. The operating profit margin worsened from 6.6% in the same period last year to 4.3%.

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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	57,541	3,063	3,558	2,563	214.8	83.2	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	58,698	3,696	4,105	3,301	275.5	75.8	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	59,339	3,181	3,473	3,510	291.1	60.9	Nov 13, 2024	J-GAAP
YoY	+1.1%	-13.9%	-15.4%	+6.3%	+5.6%

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	42,600	2,978	2,996	1,882	160.8	55	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	42,600	2,978	2,996	1,882	160.8	100	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	82,000	5,300	5,700	4,300	367.5	110	Jun 14, 2024	J-GAAP
Dec, 2024 New	82,000	5,300	5,700	4,300	367.5	155	Nov 13, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	39,526	2,532	2,703	2,013	167.6	110	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	42,600	2,978	2,996	1,882	160.8	100	Nov 13, 2024	J-GAAP
YoY	+7.8%	+17.6%	+10.8%	-6.5%	-4.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	77,260	3,771	4,275	3,788	317.5	85	Feb 10, 2023	J-GAAP
Dec, 2023	78,863	4,956	5,417	4,315	359.3	110	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	82,000	5,300	5,700	4,300	367.5	155	Nov 13, 2024	J-GAAP
YoY	+4.0%	+6.9%	+5.2%	-0.3%	+2.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	19,361	1,272	1,391	999	83.4	6.6	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	20,165	1,260	1,312	1,014	84.4	6.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	19,504	1,199	1,365	856	70.8	6.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	19,896	1,123	1,339	1,562	129.2	5.6	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	19,939	859	769	1,092	90.6	4.3	Nov 13, 2024	J-GAAP
YoY	+3.0%	-32.5%	-44.7%	+9.3%	+8.6%