WATT MANN CO., LTD., First Half Ordinary Profit Increases by 6%

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Thu Nov 14, 2024 3:30 pm JST Earnings

9927 WATT MANN CO., LTD. 【J-GAAP】

Earnings Report

WATT MANN CO., LTD. <9927> [TSE-S] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 5.6% from the same period last year, reaching 300 million yen. The progress rate against the 732 million yen full-year plan was 41.0%, exceeding the five-year average of 37.0%.

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 grow by 16.1% from the same period last year, reaching 432 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 128 million yen, a 7.9% decrease compared to the same period last year. The operating profit margin worsened from 7.4% in the same period last year to 6.3%.

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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	3,427	236	226	171	19.6	44.5	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	3,829	281	284	183	21.0	43.3	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	4,033	296	300	193	22.2	41.0	Nov 14, 2024	J-GAAP
YoY	+5.3%	+5.3%	+5.6%	+5.5%	+5.6%

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	ー	ー	ー	ー	－	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	4,033	296	300	193	22.2	0	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	4,022	368	372	276	31.6	20	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,397	434	432	317	36.2	20	Nov 14, 2024	J-GAAP
YoY	+9.3%	+17.9%	+16.1%	+14.9%	+14.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,420	508	508	355	40.7	15	May 15, 2023	J-GAAP
Mar, 2024	7,851	649	656	459	52.6	20	May 15, 2024	J-GAAP
Mar, 2025 Guidance	8,430	730	732	510	58.3	20	May 15, 2024	J-GAAP
YoY	+7.4%	+12.5%	+11.6%	+11.1%	+10.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,881	139	139	89	10.2	7.4	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	1,971	166	166	106	12.2	8.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	2,051	202	206	170	19.5	9.8	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,015	169	172	111	12.7	8.4	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	2,018	127	128	82	9.4	6.3	Nov 14, 2024	J-GAAP
YoY	+7.3%	-8.6%	-7.9%	-7.9%	-7.7%