SATORI ELECTRIC, First Half Ordinary Profit Decreases by 15%, Sep-Nov Ordinary Profit Decreases by 27%

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Tue Jan 14, 2025 3:30 pm JST Earnings

7420 SATORI ELECTRIC CO.,LTD. 【J-GAAP】

Earnings Report

SATORI ELECTRIC CO.,LTD. <7420> [TSE Prime] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2025 (June to November) decreased 14.5% from the same period last year to 1.66 billion yen. The progress rate toward the full-year plan of 3.5 billion yen was 47.5%, also falling below the five-year average of 56.6%.

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 December to May period (2H) is expected to grow 7.6% from the same period last year, reaching 1.83 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit decreased to 0.87 billion yen, a 27.4% decrease compared to the same period last year. The operating profit margin worsened from 4.0% in the same period last year to 2.5%.

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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
Jun - Nov, 2022	75,282	2,589	2,093	1,591	96.7	73.0	Jan 13, 2023	J-GAAP
Jun - Nov, 2023	74,148	2,679	1,947	1,277	87.3	53.3	Jan 15, 2024	J-GAAP
Jun - Nov, 2024	77,800	2,087	1,664	1,145	79.9	47.5	Jan 14, 2025	J-GAAP
YoY	+4.9%	-22.1%	-14.5%	-10.3%	-8.5%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2024 Guidance	75,000	2,000	1,600	1,200	83.8	40	Jul 12, 2024	J-GAAP
Jun - Nov, 2024 Results	77,800	2,087	1,664	1,145	79.9	40	Jan 14, 2025	J-GAAP
Revision Rate	+3.7%	+4.4%	+4.0%	-4.6%	-4.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec - May, 2023	73,965	2,076	1,706	879	60.7	50	Jul 12, 2024	J-GAAP
Dec - May, 2024 Guidance	76,200	2,213	1,836	1,355	94.4	46	Jan 14, 2025	J-GAAP
YoY	+3.0%	+6.6%	+7.6%	+54.2%	+55.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2023	146,336	3,791	2,867	2,257	137.2	70	Jul 13, 2023	J-GAAP
May, 2024	148,113	4,755	3,653	2,156	148.9	80	Jul 12, 2024	J-GAAP
May, 2025 Guidance	154,000	4,300	3,500	2,500	174.2	86	Jul 12, 2024	J-GAAP
YoY	+4.0%	-9.6%	-4.2%	+16.0%	+17.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	38,849	1,563	1,206	878	60.0	4.0	Jan 15, 2024	J-GAAP
Dec - Feb, 2023	33,209	833	609	382	26.3	2.5	Apr 11, 2024	J-GAAP
Mar - May, 2024	40,756	1,243	1,097	497	34.3	3.0	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	38,248	1,098	789	403	28.2	2.9	Oct 11, 2024	J-GAAP
Sep - Nov, 2024	39,552	989	875	742	51.8	2.5	Jan 14, 2025	J-GAAP
YoY	+1.8%	-36.7%	-27.4%	-15.5%	-13.8%