FURUNO ELECTRIC, The Current Fiscal Year Ordinary Profit Revised Upward by 9%, Raises Record High Profit Forecast, Dividend Revised Upward by 15 yen

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Tue Jan 14, 2025 3:30 pm JST Earnings

6814 FURUNO ELECTRIC CO., LTD. 【J-GAAP】

Earnings Report

FURUNO ELECTRIC CO., LTD. <6814> [TSE Prime] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2025 (March to November) expanded 10.8 billion yen, an increase 39.9% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 8.7%, from the previous forecast of 11.5 billion yen to 12.5 billion yen (compared to 8.16 billion yen in the previous period), increasing the growth rate from 40.8% to 53.0%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the September to February period (2H) is expected to increase 25.1%, from the previous forecast of 3.98 billion yen to 4.98 billion yen (compared to 3.64 billion yen in the same period of the previous year), increasing the growth rate from 9.4% to 36.8%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 75 yen to 90 yen (compared to 60 yen in the previous period).

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit grew 3.1% from the same period last year, reaching 3.31 billion yen. The operating profit margin improved from 9.1% in the same period last year to 10.3%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Nov, 2022	64,979	1,324	2,306	1,276	40.5	88.9	Jan 16, 2023	J-GAAP
Mar - Nov, 2023	82,506	6,426	7,740	6,127	194.1	94.7	Jan 15, 2024	J-GAAP
Mar - Nov, 2024	93,600	10,481	10,828	8,538	270.3	86.6	Jan 14, 2025	J-GAAP
YoY	+13.4%	+63.1%	+39.9%	+39.4%	+39.3%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2024 Prev	60,199	3,701	3,986	2,433	77.0	40	Oct 15, 2024	J-GAAP
Sep - Feb, 2024 New	62,199	4,701	4,986	3,933	124.5	55	Jan 14, 2025	J-GAAP
Revision Rate	+3.3%	+27.0%	+25.1%	+61.7%	+61.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	123,000	11,000	11,500	7,500	237.4	75	Oct 15, 2024	J-GAAP
Feb, 2025 New	125,000	12,000	12,500	9,000	284.8	90	Jan 14, 2025	J-GAAP
Revision Rate	+1.6%	+9.1%	+8.7%	+20.0%	+20.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	61,828	2,792	3,646	2,960	93.7	40	Apr 15, 2024	J-GAAP
Sep - Feb, 2024 Guidance	62,199	4,701	4,986	3,933	124.5	55	Jan 14, 2025	J-GAAP
YoY	+0.6%	+68.4%	+36.8%	+32.9%	+32.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	91,325	1,523	2,593	1,348	42.7	25	Apr 14, 2023	J-GAAP
Feb, 2024	114,850	6,521	8,171	6,240	197.6	60	Apr 15, 2024	J-GAAP
Feb, 2025 Guidance	125,000	12,000	12,500	9,000	284.8	90	Jan 14, 2025	J-GAAP
YoY	+8.8%	+84.0%	+53.0%	+44.2%	+44.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	29,484	2,697	3,215	2,847	90.2	9.1	Jan 15, 2024	J-GAAP
Dec - Feb, 2023	32,344	95	431	113	3.6	0.3	Apr 15, 2024	J-GAAP
Mar - May, 2024	28,196	2,629	3,136	1,280	40.5	9.3	Jul 16, 2024	J-GAAP
Jun - Aug, 2024	34,605	4,670	4,378	3,787	119.9	13.5	Oct 15, 2024	J-GAAP
Sep - Nov, 2024	30,799	3,182	3,314	3,471	109.9	10.3	Jan 14, 2025	J-GAAP
YoY	+4.5%	+18.0%	+3.1%	+21.9%	+21.8%