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SUMITOMO HEAVY INDUSTRIES, Last Fiscal Year Net Income Revised Downward to an Unexpected 82% Decrease

Thu Jan 30, 2025 2:00 pm JST Revision

6302 SUMITOMO HEAVY INDUSTRIES,LTD. 【J-GAAP】

Guidance Update Report

SUMITOMO HEAVY INDUSTRIES,LTD. <6302> [TSE Prime] announced a performance revision in the afternoon session on January 30th (14:00). The consolidated net income for the fiscal year ending December 2024 has decreased 84.2%, from the previous forecast of 38 billion yen to 6 billion yen (compared to 32.7 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 81.7% decrease in profit.

Based on the downwardly revised full-year plan announced by the company, our calculation indicates that the July to December period (2H) consolidated net income/loss has been revised downward from an expected profit of 14.4 billion yen to a loss of 17.5 billion yen (compared to a profit of 10.2 billion yen in the same period of the previous year), turning to a loss outlook.

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Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 549,647 31,670 27,142 14,491 120.6 65 Aug 7, 2024 J-GAAP
Jul - Dec, 2024 New 549,647 20,670 14,142 -17,509 -145.7 65 Jan 30, 2025 J-GAAP
Revision Rate 0.0% -34.7% -47.9% － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 1,070,000 65,000 61,000 38,000 316.2 125 Aug 7, 2024 J-GAAP
Dec, 2024 New 1,070,000 54,000 48,000 6,000 49.9 125 Jan 30, 2025 J-GAAP
Revision Rate 0.0% -16.9% -21.3% -84.2% -84.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 571,474 43,712 37,361 10,266 83.8 60 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 549,647 20,670 14,142 -17,509 -145.7 65 Jan 30, 2025 J-GAAP
YoY -3.8% -52.7% -62.1% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 Changed 854,093 44,803 43,253 5,782 47.2 90 Feb 13, 2023 J-GAAP
Dec, 2023 1,081,533 74,367 70,250 32,742 267.3 120 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 1,070,000 54,000 48,000 6,000 49.9 125 Jan 30, 2025 J-GAAP
YoY -1.1% -27.4% -31.7% -81.7% -81.3%

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