ASMO CORPORATION, First Half Ordinary Profit Decreases by 61%, July-September Ordinary Profit Decreases by 94%

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Thu Nov 14, 2024 4:00 pm JST Earnings

2654 ASMO CORPORATION 【J-GAAP】

Earnings Report

ASMO CORPORATION <2654> [TSE-S] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 61.1% from the same period last year to 132 million yen. The progress rate against the 420 million yen full-year plan was 31.4%, also falling below the five-year average of 52.9%.

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 11.9% from the same period last year to 288 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 9 million yen, a 94.3% decrease compared to the same period last year. The operating profit margin worsened from 2.8% in the same period last year to 0.6%.

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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	9,867	147	195	89	6.6	50.5	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	10,235	300	339	199	14.8	50.9	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	10,285	138	132	75	5.6	31.4	Nov 14, 2024	J-GAAP
YoY	+0.5%	-54.0%	-61.1%	-62.3%	-62.2%

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	10,285	138	132	75	5.6	0	Nov 11, 2024	J-GAAP
Apr - Sep, 2024 Results	10,285	138	132	75	5.6	0	Nov 14, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.5%

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	10,298	306	327	270	20.1	10	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,715	222	288	215	16.0	10	Nov 11, 2024	J-GAAP
YoY	-5.7%	-27.5%	-11.9%	-20.4%	-20.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	19,723	333	386	204	15.2	10	May 12, 2023	J-GAAP
Mar, 2024	20,533	606	666	469	34.9	10	May 14, 2024	J-GAAP
Mar, 2025 Guidance	20,000	360	420	290	21.5	10	Nov 11, 2024	J-GAAP
YoY	-2.6%	-40.6%	-36.9%	-38.2%	-38.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	5,122	143	158	89	6.6	2.8	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	5,238	160	159	97	7.2	3.1	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	5,060	146	168	173	12.9	2.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	5,269	108	123	83	6.2	2.0	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	5,016	30	9	-8	-0.6	0.6	Nov 14, 2024	J-GAAP
YoY	-2.1%	-79.0%	-94.3%	－	－