Citizen Watch, The Current Fiscal Year Net Income Revised Upward by 2%

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Wed Feb 12, 2025 3:30 pm JST Earnings

7762 Citizen Watch Co., Ltd. 【J-GAAP】

Earnings Report

Citizen Watch Co., Ltd. <7762> [TSE Prime] announced its financial results after the market closed on February 12th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 7.3% from the same period last year, reaching 22.2 billion yen.

In addition, the full-year consolidated net income has been revised upward 2.3%, from the previous forecast of 22 billion yen to 22.5 billion yen (compared to 22.9 billion yen in the previous period), and the declining rate is expected to decrease from 4.2% to 2.0%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 5.1%, from the previous forecast of 9.72 billion yen to 10.2 billion yen (compared to 9.57 billion yen in the same period of the previous year), increasing the growth rate from 1.6% to 6.8%.

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 36.0% from the same period last year, reaching 9.92 billion yen. However, the operating profit margin significantly dropped from 11.5% in the same period last year to 7.9%.

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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	230,178	21,032	24,440	19,697	67.3	84.0	Feb 13, 2023	J-GAAP
Apr - Dec, 2023	238,894	23,416	27,478	20,690	84.2	89.2	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	241,709	19,036	21,987	22,207	91.1	89.7	Feb 12, 2025	J-GAAP
YoY	+1.2%	-18.7%	-20.0%	+7.3%	+8.2%

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	156,984	10,672	12,234	9,721	39.9	22.50	Nov 11, 2024	J-GAAP
Oct - Mar, 2024 New	156,984	9,172	12,234	10,221	41.9	22.50	Feb 12, 2025	J-GAAP
Revision Rate	0.0%	-14.1%	0.0%	+5.1%	+5.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	313,500	23,000	24,500	22,000	90.2	45	Nov 11, 2024	J-GAAP
Mar, 2025 New	313,500	21,500	24,500	22,500	92.3	45	Feb 12, 2025	J-GAAP
Revision Rate	0.0%	-6.5%	0.0%	+2.3%	+2.3%

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	159,906	11,526	13,393	9,570	39.0	20	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	156,984	9,172	12,234	10,221	41.9	22.50	Feb 12, 2025	J-GAAP
YoY	-1.8%	-20.4%	-8.7%	+6.8%	+7.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	301,366	23,708	29,096	21,836	75.3	34	May 12, 2023	J-GAAP
Mar, 2024	312,830	25,068	30,810	22,958	93.6	40	May 13, 2024	J-GAAP
Mar, 2025 Guidance	313,500	21,500	24,500	22,500	92.3	45	Feb 12, 2025	J-GAAP
YoY	+0.2%	-14.2%	-20.5%	-2.0%	-1.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	85,970	9,874	10,061	7,302	29.7	11.5	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	73,936	1,652	3,332	2,268	9.3	2.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	75,888	4,684	7,347	8,543	35.0	6.2	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	80,628	7,644	4,919	3,736	15.3	9.5	Nov 11, 2024	J-GAAP
Oct - Dec, 2024	85,193	6,708	9,721	9,928	40.7	7.9	Feb 12, 2025	J-GAAP
YoY	-0.9%	-32.1%	-3.4%	+36.0%	+37.0%