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OKAMOTO INDUSTRIES,INC., First Half Ordinary Profit Decreases by 17%, July-September Ordinary Profit Decreases by 48%

Fri Nov 8, 2024 4:00 pm JST Earnings

5122 OKAMOTO INDUSTRIES,INC. 【J-GAAP】

Earnings Report

OKAMOTO INDUSTRIES,INC. <5122> [TSE-P] announced its financial results after the market closed on November 8th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 16.5% from the same period last year to 5.01 billion yen. The progress rate against the 10.4 billion yen full-year plan was 48.2%, almost the same as 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 decrease by 11.4% from the same period last year to 5.38 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 1.42 billion yen, a 47.9% decrease compared to the same period last year. The operating profit margin worsened from 9.6% in the same period last year to 8.4%.

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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 46,421 3,103 3,977 2,517 138.4 50.2 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 50,959 4,767 6,006 4,578 260.2 49.7 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 54,489 4,919 5,015 2,980 170.7 48.2 Nov 8, 2024 J-GAAP
YoY +6.9% +3.2% -16.5% -34.9% -34.4%

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 54,700 4,650 5,200 3,550 204.5 60 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 54,489 4,919 5,015 2,980 170.7 60 Nov 8, 2024 J-GAAP
Revision Rate -0.4% +5.8% -3.6% -16.1% -16.5%

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 55,164 5,273 6,081 2,810 159.9 80 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 56,511 4,331 5,385 3,720 214.5 60 Nov 8, 2024 J-GAAP
YoY +2.4% -17.9% -11.4% +32.4% +34.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 99,076 6,898 7,922 4,893 271.1 110 May 12, 2023 J-GAAP
Mar, 2024 106,123 10,040 12,087 7,388 420.3 135 May 13, 2024 J-GAAP
Mar, 2025 Guidance 111,000 9,250 10,400 6,700 386.4 120 May 13, 2024 J-GAAP
YoY +4.6% -7.9% -14.0% -9.3% -8.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 25,751 2,473 2,732 1,838 104.5 9.6 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 28,441 3,251 3,481 2,427 138.1 11.4 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 26,723 2,022 2,600 383 21.8 7.6 May 13, 2024 J-GAAP
Apr - Jun, 2024 26,066 2,538 3,592 2,210 126.3 9.7 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 28,423 2,381 1,423 770 44.1 8.4 Nov 8, 2024 J-GAAP
YoY +10.4% -3.7% -47.9% -58.1% -57.8%

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