Yodogawa Steel Works, The Current Fiscal Year Ordinary Profit Revised Upward by 7%, Highest in Twenty Terms, Dividend Revised Upward by 24 yen

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Fri Feb 7, 2025 4:00 pm JST Earnings

5451 Yodogawa Steel Works,Ltd. 【J-GAAP】

Earnings Report

Yodogawa Steel Works,Ltd. <5451> [TSE Prime] announced its financial results after the market closed on February 7th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 17.3 billion yen, an increase 45.1% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 7.3%, from the previous forecast of 19.2 billion yen to 20.6 billion yen (compared to 15.2 billion yen in the previous period), increasing the growth rate from 26.3% to 35.5%, reaches new record high for the first time in twenty terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) is expected to increase 14.0%, from the previous forecast of 10 billion yen to 11.4 billion yen (compared to 7.53 billion yen in the same period of the previous year), increasing the growth rate from 33.2% to 51.8%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 309 yen to 333 yen (compared to 200 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 91.0% from the same period last year, reaching 8.16 billion yen. However, the operating profit margin remained almost flat, changing from 6.6% in the same period last year to 6.4%.

Kabutan News

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	171,562	10,771	14,565	8,477	293.8	82.4	Feb 6, 2023	J-GAAP
Apr - Dec, 2023	153,465	8,939	11,948	7,751	268.4	78.6	Feb 6, 2024	J-GAAP
Apr - Dec, 2024	156,742	11,114	17,338	11,303	391.1	84.2	Feb 7, 2025	J-GAAP
YoY	+2.1%	+24.3%	+45.1%	+45.8%	+45.7%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	101,676	4,288	10,029	6,109	211.3	209	Nov 6, 2024	J-GAAP
Oct - Mar, 2024 New	103,676	5,288	11,429	7,009	242.4	233	Feb 7, 2025	J-GAAP
Revision Rate	+2.0%	+23.3%	+14.0%	+14.7%	+14.7%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	207,000	12,100	19,200	11,900	411.5	309	Aug 9, 2024	J-GAAP
Mar, 2025 New	209,000	13,100	20,600	12,800	442.7	333	Feb 7, 2025	J-GAAP
Revision Rate	+1.0%	+8.3%	+7.3%	+7.6%	+7.6%

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	102,671	6,545	7,530	-729	-25.2	145	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	103,676	5,288	11,429	7,009	242.4	233	Feb 7, 2025	J-GAAP
YoY	+1.0%	-19.2%	+51.8%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	220,314	12,665	17,686	10,593	367.1	111	May 10, 2023	J-GAAP
Mar, 2024	203,957	12,017	15,202	4,456	154.3	200	May 10, 2024	J-GAAP
Mar, 2025 Guidance	209,000	13,100	20,600	12,800	442.7	333	Feb 7, 2025	J-GAAP
YoY	+2.5%	+9.0%	+35.5%	+187.3%	+186.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	52,179	3,467	4,276	2,566	88.9	6.6	Feb 6, 2024	J-GAAP
Jan - Mar, 2024	50,492	3,078	3,254	-3,295	-114.1	6.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	52,595	4,061	5,120	3,210	111.1	7.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	52,729	3,751	4,051	2,581	89.3	7.1	Nov 6, 2024	J-GAAP
Oct - Dec, 2024	51,418	3,302	8,167	5,512	190.7	6.4	Feb 7, 2025	J-GAAP
YoY	-1.5%	-4.8%	+91.0%	+114.8%	+114.7%