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GUNZE LIMITED, July-September (2Q) Ordinary Profit Decreases by 15%

Wed Nov 6, 2024 3:00 pm JST Earnings

3002 GUNZE LIMITED 【J-GAAP】

Earnings Report

GUNZE LIMITED <3002> [TSE-P] announced its financial results in the afternoon session on November 6th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 11.8% from the same period last year, reaching 3.66 billion yen. However, The progress rate against the 9 billion yen full-year plan was 40.7%, also falling below the five-year average of 49.5%.

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 expand by 52.6% from the same period last year, reaching 5.33 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.39 billion yen, a 14.9% decrease compared to the same period last year. The operating profit margin worsened from 5.1% in the same period last year to 4.4%.

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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 67,350 2,806 3,087 2,206 63.8 51.3 Nov 2, 2022 J-GAAP
Apr - Sep, 2023 65,153 3,230 3,280 2,657 77.9 48.4 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 67,329 3,566 3,667 2,956 88.6 40.7 Nov 6, 2024 J-GAAP
YoY +3.3% +10.4% +11.8% +11.3% +13.7%

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 ー ー ー ー － － May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 67,329 3,566 3,667 2,956 88.6 － Nov 6, 2024 J-GAAP
Revision Rate － － － － －

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 67,732 3,547 3,494 2,452 72.3 76.50 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 72,671 5,434 5,333 4,544 140.0 78.50 Nov 6, 2024 J-GAAP
YoY +7.3% +53.2% +52.6% +85.3% +93.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 136,030 5,812 6,021 4,501 130.7 73.50 May 12, 2023 J-GAAP
Mar, 2024 132,885 6,777 6,774 5,109 150.6 76.50 May 14, 2024 J-GAAP
Mar, 2025 Guidance 140,000 9,000 9,000 7,500 231.0 78.50 May 14, 2024 J-GAAP
YoY +5.4% +32.8% +32.9% +46.8% +53.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 33,447 1,715 1,640 1,071 31.4 5.1 Nov 2, 2023 J-GAAP
Oct - Dec, 2023 36,297 2,938 2,805 1,328 39.0 8.1 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 31,435 609 689 1,124 33.1 1.9 May 14, 2024 J-GAAP
Apr - Jun, 2024 33,382 2,083 2,272 1,600 48.0 6.2 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 33,947 1,483 1,395 1,356 40.7 4.4 Nov 6, 2024 J-GAAP
YoY +1.5% -13.5% -14.9% +26.6% +29.4%

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