FUKUSHIMA GALILEI CO. LTD., First Half Ordinary Profit Decreases by 5%, Revises Dividend Forecast in Conjunction with Stock Split

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Wed Nov 13, 2024 4:00 pm JST Earnings

6420 FUKUSHIMA GALILEI CO. LTD. 【J-GAAP】

Earnings Report

FUKUSHIMA GALILEI CO. LTD. <6420> [TSE-P] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 5.1% from the same period last year to 7.09 billion yen. However, The progress rate against the 13.5 billion yen full-year plan was 52.3%, also surpassing the five-year average of 47.2%.

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 25.4% from the same period last year to 6.47 billion yen.

At the same time, Due to a planned 1-to-2 stock split is scheduled for December 31, the year-end lump-sum dividend for the current fiscal year has been revised from the original plan of 105 yen to 52.5 yen (equivalent to 105 yen before the stock split), but the actual dividend remains unchanged.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 3.62 billion yen, a 4.8% decrease compared to the same period last year. The operating profit margin decreased from 12.6% in the same period last year to 12.2%.

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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	48,469	4,503	5,573	3,884	193.8	45.3	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	53,536	6,634	7,477	5,303	264.4	46.3	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	61,011	6,975	7,098	5,166	258.1	52.3	Nov 13, 2024	J-GAAP
YoY	+14.0%	+5.1%	-5.1%	-2.6%	-2.4%

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	57,824	6,207	6,434	4,640	231.6	0	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	61,011	6,975	7,098	5,166	258.1	0	Nov 13, 2024	J-GAAP
Revision Rate	+5.5%	+12.4%	+10.3%	+11.3%	+11.4%

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	62,279	8,664	8,682	7,003	350.3	105	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	58,372	6,216	6,477	4,618	230.5	105	Nov 13, 2024	J-GAAP
YoY	-6.3%	-28.3%	-25.4%	-34.1%	-34.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	104,996	11,485	12,292	8,654	431.6	73	May 10, 2023	J-GAAP
Mar, 2024	115,815	15,298	16,159	12,306	615.5	105	May 8, 2024	J-GAAP
Mar, 2025 Guidance	119,383	13,191	13,575	9,784	488.4	105	May 8, 2024	J-GAAP
YoY	+3.1%	-13.8%	-16.0%	-20.5%	-20.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	27,729	3,500	3,801	2,665	132.9	12.6	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	30,739	4,170	3,918	3,458	172.8	13.6	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	31,540	4,494	4,764	3,545	177.3	14.2	May 8, 2024	J-GAAP
Apr - Jun, 2024	28,659	3,040	3,478	2,590	129.4	10.6	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	32,352	3,935	3,620	2,576	128.7	12.2	Nov 13, 2024	J-GAAP
YoY	+16.7%	+12.4%	-4.8%	-3.3%	-3.1%