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JTEKT, The Current Fiscal Year Net Income Revised Downward by 75%

Fri Jan 31, 2025 3:00 pm JST Earnings

6473 JTEKT Corporation 【IFRS】

Earnings Report

JTEKT Corporation <6473> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on January 31st (15:00). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 72.7% from the same period last year to 9.94 billion yen.

In addition, the full-year consolidated net income has decreased 75.0%, from the previous forecast of 20 billion yen to 5 billion yen (compared to 40.2 billion yen in the previous period), leading to an increase in the profit decline rate from 50.3% to 87.6%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income/loss for the October to March period (2H) has been revised downward from an expected profit of 13.7 billion yen to a loss of 1.23 billion yen (compared to a profit of 17.1 billion yen in the same period of the previous year), turning to a loss outlook.

In the most recent three-month period, from October to December (3Q), the consolidated net income significantly dropped to 3.71 billion yen, a 72.1% decrease compared to the same period last year. The operating profit margin worsened from 4.6% in the same period last year to 2.0%.

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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 1,224,909 33,116 36,743 18,332 53.5 65.7 Feb 3, 2023 IFRS
Apr - Dec, 2023 1,411,827 57,360 61,203 36,411 106.2 84.4 Feb 2, 2024 IFRS
Apr - Dec, 2024 1,385,066 35,006 29,089 9,947 29.0 107.7 Jan 31, 2025 IFRS
YoY -1.9% -39.0% -52.5% -72.7% -72.7%

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 911,521 ー 20,501 13,769 43.3 25 Oct 31, 2024 IFRS
Oct - Mar, 2024 New 941,521 ー 7,501 -1,231 -3.9 25 Jan 31, 2025 IFRS
Revision Rate +3.3% － -63.4% － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 1,830,000 ー 40,000 20,000 62.8 50 Oct 31, 2024 IFRS
Mar, 2025 New 1,860,000 ー 27,000 5,000 15.7 50 Jan 31, 2025 IFRS
Revision Rate +1.6% － -32.5% -75.0% -75.0%

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 969,273 27,573 30,996 17,143 50.0 20 Apr 26, 2024 IFRS
Oct - Mar, 2024 Guidance 941,521 ー 7,501 -1,231 -3.9 25 Jan 31, 2025 IFRS
YoY -2.9% － -75.8% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 1,678,146 49,325 55,889 34,276 99.9 30 Apr 27, 2023 IFRS
Mar, 2024 1,891,504 62,196 72,513 40,257 117.4 36 Apr 26, 2024 IFRS
Mar, 2025 Guidance 1,860,000 ー 27,000 5,000 15.7 50 Jan 31, 2025 IFRS
YoY -1.7% － -62.8% -87.6% -86.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 489,596 22,737 19,686 13,297 38.8 4.6 Feb 2, 2024 IFRS
Jan - Mar, 2024 479,677 4,836 11,310 3,846 11.2 1.0 Apr 26, 2024 IFRS
Apr - Jun, 2024 464,057 11,144 16,758 10,813 31.5 2.4 Jul 31, 2024 IFRS
Jul - Sep, 2024 454,422 14,396 2,741 -4,582 -13.4 3.2 Oct 31, 2024 IFRS
Oct - Dec, 2024 466,587 9,466 9,590 3,716 10.8 2.0 Jan 31, 2025 IFRS
YoY -4.7% -58.4% -51.3% -72.1% -72.1%

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