JFE Systems, The Current Fiscal Year Ordinary Profit Revised Upward by 10%, Dividend Revised Upward by 13 yen

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Tue Jan 28, 2025 3:30 pm JST Earnings

4832 JFE Systems, Inc. 【J-GAAP】

Earnings Report

JFE Systems, Inc. <4832> [TSE Std] announced its financial results after the market closed on January 28th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 12.1% from the same period last year to 5.35 billion yen.

However, the full-year consolidated ordinary profit has been revised upward 10.4%, from the previous forecast of 6.7 billion yen to 7.4 billion yen (compared to 7.45 billion yen in the previous period), and the declining rate is expected to decrease from 10.1% to 0.7%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 20.9%, from the previous forecast of 3.34 billion yen to 4.04 billion yen (compared to 3.38 billion yen in the same period of the previous year), turning to a 19.5% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 102 yen to 115 yen (compared to 121 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit amounted to 1.99 billion yen, a 1.2% decrease compared to the same period last year. The operating profit margin decreased from 12.8% in the same period last year to 11.4%.

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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
Apr - Dec, 2022	41,161	4,577	4,617	3,059	194.8	73.5	Jan 26, 2023	J-GAAP
Apr - Dec, 2023	46,452	6,044	6,088	4,065	258.8	81.7	Jan 26, 2024	J-GAAP
Apr - Dec, 2024	47,158	5,290	5,351	3,741	238.2	72.3	Jan 28, 2025	J-GAAP
YoY	+1.5%	-12.5%	-12.1%	-8.0%	-8.0%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	32,239	3,312	3,345	2,261	144.0	51	Oct 29, 2024	J-GAAP
Oct - Mar, 2024 New	34,109	4,012	4,045	2,851	181.5	64	Jan 28, 2025	J-GAAP
Revision Rate	+5.8%	+21.1%	+20.9%	+26.1%	+26.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	62,130	6,640	6,700	4,550	289.7	102	Apr 25, 2024	J-GAAP
Mar, 2025 New	64,000	7,340	7,400	5,140	327.3	115	Jan 28, 2025	J-GAAP
Revision Rate	+3.0%	+10.5%	+10.4%	+13.0%	+13.0%

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	31,234	3,356	3,385	2,265	144.2	57	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	34,109	4,012	4,045	2,851	181.5	64	Jan 28, 2025	J-GAAP
YoY	+9.2%	+19.5%	+19.5%	+25.9%	+25.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	56,472	6,248	6,282	4,323	275.3	97	Apr 27, 2023	J-GAAP
Mar, 2024	62,033	7,402	7,452	4,969	316.4	121	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	64,000	7,340	7,400	5,140	327.3	115	Jan 28, 2025	J-GAAP
YoY	+3.2%	-0.8%	-0.7%	+3.4%	+3.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	15,653	1,998	2,021	1,361	86.7	12.8	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	15,581	1,358	1,364	904	57.6	8.7	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	14,673	1,328	1,359	862	54.9	9.1	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	15,218	2,000	1,996	1,427	90.9	13.1	Oct 29, 2024	J-GAAP
Oct - Dec, 2024	17,267	1,962	1,996	1,452	92.5	11.4	Jan 28, 2025	J-GAAP
YoY	+10.3%	-1.8%	-1.2%	+6.7%	+6.7%