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WATTS, Sep-May (Cumulative 3Q) Ordinary Profit Decreases by 5%, Mar-May Ordinary Profit Decreases by 53%

Thu Jul 10, 2025 3:30 pm JST Earnings

2735 WATTS CO., LTD. 【J-GAAP】

Earnings Report

WATTS CO., LTD. <2735> [TSE Std] announced its financial results after the market closed on July 10th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending August 2025 (September 2024 to May 2025) decreased 4.9% from the same period last year to 1.01 billion yen. However, Progress toward the full-year plan of 1.30 billion yen was 78.2%, almost the same as the five-year average of 78.3%.

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 June to August period (4Q) is expected to expand 78.0% from the same period last year, reaching 0.28 billion yen.

In the most recent three-month period, from March to May (3Q), the consolidated ordinary profit significantly dropped to 0.15 billion yen, a 52.8% decrease compared to the same period last year. The operating profit margin worsened from 2.0% in the same period last year to 1.3%.

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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
Sep - May, 2022 44,431 370 372 306 22.6 57.4 Jul 10, 2023 J-GAAP
Sep - May, 2023 45,604 1,054 1,069 760 57.5 87.1 Jul 10, 2024 J-GAAP
Sep - May, 2024 46,012 1,022 1,017 592 45.0 78.2 Jul 10, 2025 J-GAAP
YoY +0.9% -3.0% -4.9% -22.1% -21.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 31,002 503 479 468 35.4 20 Oct 10, 2024 J-GAAP
Mar - Aug, 2025 Guidance 31,535 530 434 414 31.3 7.50 Apr 10, 2025 J-GAAP
YoY +1.7% +5.4% -9.4% -11.5% -11.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2023 59,309 621 648 250 18.5 15 Oct 10, 2023 J-GAAP
Aug, 2024 61,257 1,246 1,228 904 68.5 20 Oct 10, 2024 J-GAAP
Aug, 2025 Guidance 62,000 1,350 1,300 950 71.8 18 Jan 10, 2025 J-GAAP
YoY +1.2% +8.3% +5.9% +5.1% +4.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Mar - May, 2024 15,349 311 320 324 24.5 2.0 Jul 10, 2024 J-GAAP
Jun - Aug, 2024 15,653 192 159 144 10.9 1.2 Oct 10, 2024 J-GAAP
Sep - Nov, 2024 14,995 267 307 191 14.6 1.8 Jan 10, 2025 J-GAAP
Dec - Feb, 2024 15,470 553 559 345 26.2 3.6 Apr 10, 2025 J-GAAP
Mar - May, 2025 15,547 202 151 56 4.3 1.3 Jul 10, 2025 J-GAAP
YoY +1.3% -35.0% -52.8% -82.7% -82.7%

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