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

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Fri Feb 14, 2025 2:00 pm JST Earnings

6273 SMC CORPORATION 【J-GAAP】

Earnings Report

SMC CORPORATION <6273> [TSE Prime] announced its financial results in the afternoon session on February 14th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 10.4% from the same period last year to 166 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 9.7%, from the previous forecast of 238 billion yen to 215 billion yen (compared to 251 billion yen in the previous period), leading to an increase in the profit decline rate from 5.2% to 14.3%.

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 17.2%, from the previous forecast of 133 billion yen to 110 billion yen (compared to 116 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 4.8% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 21.6% from the same period last year, reaching 61.9 billion yen. However, the operating profit margin decreased from 26.5% in the same period last year to 22.2%.

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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	627,475	197,811	234,305	173,766	2,660.0	76.6	Feb 14, 2023	J-GAAP
Apr - Dec, 2023	582,619	155,191	185,594	137,304	2,129.0	73.9	Feb 13, 2024	J-GAAP
Apr - Dec, 2024	590,460	142,793	166,201	120,382	1,880.3	77.3	Feb 14, 2025	J-GAAP
YoY	+1.3%	-8.0%	-10.4%	-12.3%	-11.7%

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	424,939	114,503	133,717	88,811	1,393.5	500	Nov 14, 2024	J-GAAP
Oct - Mar, 2024 New	392,939	91,503	110,717	72,811	1,142.4	500	Feb 14, 2025	J-GAAP
Revision Rate	-7.5%	-20.1%	-17.2%	-18.0%	-18.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	820,000	214,000	238,000	167,000	2,620.3	1,000	Nov 14, 2024	J-GAAP
Mar, 2025 New	788,000	191,000	215,000	151,000	2,369.2	1,000	Feb 14, 2025	J-GAAP
Revision Rate	-3.9%	-10.7%	-9.7%	-9.6%	-9.6%

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	383,322	91,102	116,348	83,586	1,297.0	500	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	392,939	91,503	110,717	72,811	1,142.4	500	Feb 14, 2025	J-GAAP
YoY	+2.5%	+0.4%	-4.8%	-12.9%	-11.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	824,772	258,200	305,980	224,609	3,444.6	900	May 15, 2023	J-GAAP
Mar, 2024	776,873	196,226	251,008	178,321	2,766.9	950	May 14, 2024	J-GAAP
Mar, 2025 Guidance	788,000	191,000	215,000	151,000	2,369.2	1,000	Feb 14, 2025	J-GAAP
YoY	+1.4%	-2.7%	-14.3%	-15.3%	-14.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	189,068	50,067	50,934	42,569	660.1	26.5	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	194,254	41,035	65,414	41,017	636.4	21.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	202,781	52,354	68,278	48,705	759.4	25.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	192,280	47,143	36,005	29,484	459.8	24.5	Nov 14, 2024	J-GAAP
Oct - Dec, 2024	195,399	43,296	61,918	42,193	659.0	22.2	Feb 14, 2025	J-GAAP
YoY	+3.3%	-13.5%	+21.6%	-0.9%	-0.2%