SHINAGAWA REFRACTORIES, Oct-Dec (3Q) Ordinary Profit Increases by 6%

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Thu Feb 6, 2025 3:30 pm JST Earnings

5351 SHINAGAWA REFRACTORIES CO., LTD. 【J-GAAP】

Earnings Report

SHINAGAWA REFRACTORIES CO., LTD. <5351> [TSE Prime] announced its financial results after the market closed on February 6th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 6.3% from the same period last year to 10.8 billion yen. However, the progress rate toward the full-year plan of 13 billion yen was 83.3%, also surpassing the five-year average of 76.4%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to drop 35.2% from the same period last year to 2.17 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 6.0% from the same period last year, reaching 4.16 billion yen. However, the operating profit margin decreased from 10.6% in the same period last year to 9.8%.

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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	94,349	8,246	8,933	6,499	139.0	78.0	Feb 2, 2023	J-GAAP
Apr - Dec, 2023	109,130	10,842	11,549	12,618	270.9	77.5	Feb 2, 2024	J-GAAP
Apr - Dec, 2024	105,094	9,942	10,826	7,924	173.8	83.3	Feb 6, 2025	J-GAAP
YoY	-3.7%	-8.3%	-6.3%	-37.2%	-35.8%

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	71,471	6,921	7,283	5,927	127.4	36	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	73,770	6,164	6,337	4,090	89.7	45	Nov 7, 2024	J-GAAP
YoY	+3.2%	-10.9%	-13.0%	-31.0%	-29.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	124,963	10,844	11,457	8,307	177.6	40	May 11, 2023	J-GAAP
Mar, 2024	144,175	13,887	14,903	15,280	328.5	68	May 13, 2024	J-GAAP
Mar, 2025 Guidance	142,000	12,500	13,000	9,000	197.4	90	Nov 7, 2024	J-GAAP
YoY	-1.5%	-10.0%	-12.8%	-41.1%	-39.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	36,426	3,876	3,929	3,265	70.1	10.6	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	35,045	3,045	3,354	2,662	57.2	8.7	May 13, 2024	J-GAAP
Apr - Jun, 2024	33,867	3,050	3,613	2,913	64.0	9.0	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	34,363	3,286	3,050	1,997	43.8	9.6	Nov 7, 2024	J-GAAP
Oct - Dec, 2024	36,864	3,606	4,163	3,014	66.1	9.8	Feb 6, 2025	J-GAAP
YoY	+1.2%	-7.0%	+6.0%	-7.7%	-5.7%