Japan Engine, The Current Fiscal Year Ordinary Profit Revised Upward by 17%, Raises Record High Profit Forecast, Dividend Revised Upward by 10 yen

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Wed Feb 12, 2025 3:30 pm JST Earnings

6016 Japan Engine Corporation 【J-GAAP】

Earnings Report

Japan Engine Corporation <6016> [TSE Std] announced its financial results after the market closed on February 12th (15:30). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending March 2025 (April to December) surged 2.9 times that of the same period last year, reaching 4.71 billion yen.

In addition, the full-year ordinary profit has been revised upward 17.1%, from the previous forecast of 4.49 billion yen to 5.26 billion yen (compared to 3.51 billion yen in the previous period), increasing the growth rate from 27.6% to 49.5%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the ordinary profit for the October to March period (2H) has been revised upward 61.7%, from the previous forecast of 1.24 billion yen to 2.01 billion yen (compared to 2.84 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 56.1% to 29.1%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 102 yen to 112 yen (compared to 130 yen before the 3-for-1 forward stock split in the previous period).

In the most recent three-month period, from October to December (3Q), the ordinary profit increased 51.8% from the same period last year, reaching 1.47 billion yen. The operating profit margin rose from 12.9% in the same period last year to 15.9%.

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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	11,726	319	448	505	60.3	65.7	Feb 9, 2023	J-GAAP
Apr - Dec, 2023	14,462	1,411	1,643	1,137	135.7	46.7	Feb 7, 2024	J-GAAP
Apr - Dec, 2024	23,669	4,486	4,714	3,773	450.1	89.6	Feb 12, 2025	J-GAAP
YoY	+63.7%	+217.9%	+186.9%	+231.8%	+231.7%

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	13,174	1,077	1,248	857	102.2	42	Nov 7, 2024	J-GAAP
Oct - Mar, 2024 New	14,474	1,907	2,018	1,437	171.4	52	Feb 12, 2025	J-GAAP
Revision Rate	+9.9%	+77.1%	+61.7%	+67.7%	+67.7%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	27,500	4,080	4,490	3,570	425.8	62	Aug 8, 2024	J-GAAP
Mar, 2025 New	28,800	4,910	5,260	4,150	495.0	72	Feb 12, 2025	J-GAAP
Revision Rate	+4.7%	+20.3%	+17.1%	+16.2%	+16.2%

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	13,028	1,618	2,845	1,930	230.2	33.33	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	14,474	1,907	2,018	1,437	171.4	52	Feb 12, 2025	J-GAAP
YoY	+11.1%	+17.9%	-29.1%	-25.5%	-25.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	15,248	442	682	808	96.5	13.33	May 11, 2023	J-GAAP
Mar, 2024	20,969	2,188	3,518	2,548	303.9	43.33	May 9, 2024	J-GAAP
Mar, 2025 Guidance	28,800	4,910	5,260	4,150	495.0	72	Feb 12, 2025	J-GAAP
YoY	+37.3%	+124.4%	+49.5%	+62.9%	+62.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	6,521	841	970	519	61.9	12.9	Feb 7, 2024	J-GAAP
Jan - Mar, 2024	6,507	777	1,875	1,411	168.3	11.9	May 9, 2024	J-GAAP
Apr - Jun, 2024	7,789	1,831	1,880	1,660	198.1	23.5	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	6,537	1,172	1,362	1,053	125.6	17.9	Nov 7, 2024	J-GAAP
Oct - Dec, 2024	9,343	1,483	1,472	1,060	126.5	15.9	Feb 12, 2025	J-GAAP
YoY	+43.3%	+76.3%	+51.8%	+104.2%	+104.2%