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SMC CORPORATION, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 5% Decrease

Thu Nov 14, 2024 2:00 pm JST Earnings

6273 SMC CORPORATION 【J-GAAP】

Earnings Report

SMC CORPORATION <6273> [TSE-P] announced its financial results in the afternoon session on November 14th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 22.6% from the same period last year to 104 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 13.1%, from the previous forecast of 274 billion yen to 238 billion yen (compared to 251 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 5.2% decrease in profit.

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 grow by 14.9% from the same period last year, reaching 133 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 36 billion yen, a 39.9% decrease compared to the same period last year. The operating profit margin decreased from 25.2% in the same period last year to 24.5%.

Kabutan News

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 421,529 133,649 180,725 133,054 2,036.3 59.1 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 393,551 105,124 134,660 94,735 1,468.8 53.6 Nov 14, 2023 J-GAAP
Apr - Sep, 2024 395,061 99,497 104,283 78,189 1,219.5 43.8 Nov 14, 2024 J-GAAP
YoY +0.4% -5.4% -22.6% -17.5% -17.0%

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 500 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 395,061 99,497 104,283 78,189 1,219.5 500 Nov 14, 2024 J-GAAP
Revision Rate

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 840,000 234,000 274,000 194,000 3,042.1 1,000 May 14, 2024 J-GAAP
Mar, 2025 New 820,000 214,000 238,000 167,000 2,618.7 1,000 Nov 14, 2024 J-GAAP
Revision Rate -2.4% -8.5% -13.1% -13.9% -13.9%

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 383,322 91,102 116,348 83,586 1,297.0 500 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 424,939 114,503 133,717 88,811 1,392.6 500 Nov 14, 2024 J-GAAP
YoY +10.9% +25.7% +14.9% +6.3% +7.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 824,772 258,200 305,980 224,609 3,444.6 900 May 15, 2023 J-GAAP
Mar, 2024 776,873 196,226 251,008 178,321 2,766.9 950 May 14, 2024 J-GAAP
Mar, 2025 Guidance 820,000 214,000 238,000 167,000 2,618.7 1,000 Nov 14, 2024 J-GAAP
YoY +5.6% +9.1% -5.2% -6.3% -5.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 194,581 49,019 59,859 42,587 660.3 25.2 Nov 14, 2023 J-GAAP
Oct - Dec, 2023 189,068 50,067 50,934 42,569 660.1 26.5 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 194,254 41,035 65,414 41,017 636.4 21.1 May 14, 2024 J-GAAP
Apr - Jun, 2024 202,781 52,354 68,278 48,705 759.4 25.8 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 192,280 47,143 36,005 29,484 459.8 24.5 Nov 14, 2024 J-GAAP
YoY -1.2% -3.8% -39.9% -30.8% -30.4%

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