YAMAICHI ELECTRONICS, The Current Fiscal Year Ordinary Profit Revised Downward by 10%

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Wed Feb 5, 2025 3:30 pm JST Earnings

6941 YAMAICHI ELECTRONICS CO.,LTD. 【J-GAAP】

Earnings Report

YAMAICHI ELECTRONICS CO.,LTD. <6941> [TSE Prime] announced its financial results after the market closed on February 5th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) surged 3.6 times that of the same period last year, reaching 6.95 billion yen.

However, the full-year consolidated ordinary profit has decreased 10.5%, from the previous forecast of 8.6 billion yen to 7.7 billion yen (compared to 2.91 billion yen in the previous period), leading to a reduction in the profit growth rate from 3.0 times to 2.6 times.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 36.9%, from the previous forecast of 2.43 billion yen to 1.53 billion yen (compared to 1.24 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 95.2% to 23.1%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 3.2 times that of the same period last year, reaching 0.79 billion yen. The operating profit margin remained almost flat, changing from 4.2% in the same period last year to 4.5%.

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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	37,057	7,854	8,285	5,873	281.4	87.7	Feb 3, 2023	J-GAAP
Apr - Dec, 2023	27,015	1,927	1,915	1,388	67.6	65.7	Feb 6, 2024	J-GAAP
Apr - Dec, 2024	36,136	7,215	6,952	4,484	221.0	90.3	Feb 5, 2025	J-GAAP
YoY	+33.8%	+274.4%	+263.0%	+223.1%	+226.9%

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	21,123	1,967	2,438	1,909	97.2	54	Nov 6, 2024	J-GAAP
Oct - Mar, 2024 New	18,423	1,167	1,538	909	46.3	54	Feb 5, 2025	J-GAAP
Revision Rate	-12.8%	-40.7%	-36.9%	-52.4%	-52.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	48,700	8,800	8,600	6,000	305.4	89	Aug 6, 2024	J-GAAP
Mar, 2025 New	46,000	8,000	7,700	5,000	254.5	89	Feb 5, 2025	J-GAAP
Revision Rate	-5.5%	-9.1%	-10.5%	-16.7%	-16.7%

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	17,817	1,363	1,249	862	42.0	13	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	18,423	1,167	1,538	909	46.3	54	Feb 5, 2025	J-GAAP
YoY	+3.4%	-14.4%	+23.1%	+5.5%	+10.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	46,985	9,134	9,450	7,212	346.1	104	May 12, 2023	J-GAAP
Mar, 2024	36,423	2,933	2,914	2,060	100.4	31	May 14, 2024	J-GAAP
Mar, 2025 Guidance	46,000	8,000	7,700	5,000	254.5	89	Feb 5, 2025	J-GAAP
YoY	+26.3%	+172.8%	+164.2%	+142.7%	+153.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	8,409	357	250	190	9.3	4.2	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	9,408	1,006	999	672	32.8	10.7	May 14, 2024	J-GAAP
Apr - Jun, 2024	15,117	4,179	4,487	3,182	155.7	27.6	Aug 6, 2024	J-GAAP
Jul - Sep, 2024	12,460	2,654	1,675	909	44.6	21.3	Nov 6, 2024	J-GAAP
Oct - Dec, 2024	8,559	382	790	393	19.4	4.5	Feb 5, 2025	J-GAAP
YoY	+1.8%	+7.0%	+216.0%	+106.8%	+109.4%