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JAPAN FOUNDATION ENGINEERING CO.,LTD., First Half Ordinary Profit Increases by 75%

Wed Nov 13, 2024 3:00 pm JST Earnings

1914 JAPAN FOUNDATION ENGINEERING CO.,LTD. 【J-GAAP】

Earnings Report

JAPAN FOUNDATION ENGINEERING CO.,LTD. <1914> [TSE-S] announced its financial results in the afternoon session on November 13th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.13 billion yen, an increase of 75.3% compared to the same period last year, exceeded the previous forecast of 770 million yen.

The progress rate against the 1.57 billion yen full-year plan was 72.1%, also surpassing the five-year average of 46.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 41.5% from the same period last year to 440 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 177 million yen, a 31.9% decrease compared to the same period last year. However, the operating profit margin significantly improved from 2.8% in the same period last year to 6.2%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 11,363 251 498 284 13.5 49.4 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 10,640 423 649 416 20.8 46.3 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 14,437 1,178 1,138 1,026 52.5 72.1 Nov 13, 2024 J-GAAP
YoY +35.7% +178.5% +75.3% +146.6% +152.4%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 12,750 670 770 570 29.6 0 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 14,437 1,178 1,138 1,026 52.5 0 Nov 13, 2024 J-GAAP
Revision Rate +13.2% +75.8% +47.8% +80.0% +77.4%

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 12,935 589 752 516 25.8 16 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 13,363 222 440 -11 -0.6 16 Nov 13, 2024 J-GAAP
YoY +3.3% -62.3% -41.5% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 23,908 778 1,008 526 25.4 13 May 12, 2023 J-GAAP
Mar, 2024 23,575 1,012 1,401 932 46.6 16 May 14, 2024 J-GAAP
Mar, 2025 Guidance 27,800 1,400 1,578 1,015 52.7 16 May 14, 2024 J-GAAP
YoY +17.9% +38.3% +12.6% +8.9% +13.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 5,209 148 260 142 7.1 2.8 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 5,838 161 136 59 3.0 2.8 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 7,097 428 616 457 22.8 6.0 May 14, 2024 J-GAAP
Apr - Jun, 2024 7,112 725 961 777 39.3 10.2 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 7,325 453 177 249 12.7 6.2 Nov 13, 2024 J-GAAP
YoY +40.6% +206.1% -31.9% +75.4% +79.4%

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