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SHINAGAWA REFRACTORIES, Oct-Dec (3Q) Ordinary Profit Increases by 6%

Thu Feb 6, 2025 3:30 pm JST Earnings

5351 SHINAGAWA REFRA CO., LTD. 【J-GAAP】

Earnings Report

SHINAGAWA REFRACTORIES CO., LTD. <5351> [TSE Prime] announced its financial results after the market closed on February 6th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) decreased 6.3% from the same period last year to 10.8 billion yen. However, the progress rate toward the full-year plan of 13 billion yen was 83.3%, also surpassing the five-year average of 76.4%.

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 January to March period (4Q) is expected to drop 35.2% from the same period last year to 2.17 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 6.0% from the same period last year, reaching 4.16 billion yen. However, the operating profit margin decreased from 10.6% in the same period last year to 9.8%.

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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 94,349 8,246 8,933 6,499 139.0 78.0 Feb 2, 2023 J-GAAP
Apr - Dec, 2023 109,130 10,842 11,549 12,618 270.9 77.5 Feb 2, 2024 J-GAAP
Apr - Dec, 2024 105,094 9,942 10,826 7,924 173.8 83.3 Feb 6, 2025 J-GAAP
YoY -3.7% -8.3% -6.3% -37.2% -35.8%

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 71,471 6,921 7,283 5,927 127.4 36 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 73,770 6,164 6,337 4,090 89.7 45 Nov 7, 2024 J-GAAP
YoY +3.2% -10.9% -13.0% -31.0% -29.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 124,963 10,844 11,457 8,307 177.6 40 May 11, 2023 J-GAAP
Mar, 2024 144,175 13,887 14,903 15,280 328.5 68 May 13, 2024 J-GAAP
Mar, 2025 Guidance 142,000 12,500 13,000 9,000 197.4 90 Nov 7, 2024 J-GAAP
YoY -1.5% -10.0% -12.8% -41.1% -39.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 36,426 3,876 3,929 3,265 70.1 10.6 Feb 2, 2024 J-GAAP
Jan - Mar, 2024 35,045 3,045 3,354 2,662 57.2 8.7 May 13, 2024 J-GAAP
Apr - Jun, 2024 33,867 3,050 3,613 2,913 64.0 9.0 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 34,363 3,286 3,050 1,997 43.8 9.6 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 36,864 3,606 4,163 3,014 66.1 9.8 Feb 6, 2025 J-GAAP
YoY +1.2% -7.0% +6.0% -7.7% -5.7%

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