OKAMOTO GLASS CO., LTD., First Half Ordinary Profit Loss Widens

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Thu Nov 14, 2024 3:30 pm JST Earnings

7746 OKAMOTO GLASS CO., LTD. 【J-GAAP】

Earnings Report

OKAMOTO GLASS CO., LTD. <7746> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to a loss of 89 million yen (compared to a loss of 36 million yen in the same period last year), reversing from the forecast of a 10 million yen to a loss.

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 expand by 36.8% from the same period last year, reaching 249 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 71 million yen (compared to a loss of 11 million yen in the same period last year). However, the operating profit/loss margin significantly improved from -2.5% 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	2,621	106	165	139	6.0	113.0	Nov 11, 2022	J-GAAP
Apr - Sep, 2023	2,035	-79	-36	-43	-1.9	ー	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	2,240	-25	-89	-81	-3.5	ー	Nov 14, 2024	J-GAAP
YoY	+10.1%	+68.4%	-147.2%	-88.4%	-87.2%

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	2,260	40	10	2	0.1	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	2,240	-25	-89	-81	-3.5	0	Nov 14, 2024	J-GAAP
Revision Rate	-0.9%	－	－	－	－

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	2,548	140	182	144	6.2	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,070	225	249	201	8.6	0	Nov 14, 2024	J-GAAP
YoY	+20.5%	+60.7%	+36.8%	+39.6%	+38.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,886	133	146	214	9.2	0	May 15, 2023	J-GAAP
Mar, 2024	4,583	61	146	101	4.4	0	May 14, 2024	J-GAAP
Mar, 2025 Guidance	5,310	200	160	120	5.2	0	May 14, 2024	J-GAAP
YoY	+15.9%	+227.9%	+9.6%	+18.8%	+17.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,039	-26	-11	-20	-0.9	-2.5	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,027	-8	8	-2	-0.1	-0.8	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,521	148	174	146	6.3	9.7	May 14, 2024	J-GAAP
Apr - Jun, 2024	1,023	-34	-18	-21	-0.9	-3.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	1,217	9	-71	-60	-2.6	0.7	Nov 14, 2024	J-GAAP
YoY	+17.1%	－	-545.5%	-200.0%	-200.0%