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Showa Manufacturing Co.,Ltd., First Half Ordinary Profit Unexpectedly Revised Upward by 56%

Fri Nov 8, 2024 4:30 pm JST Earnings

5953 Showa Manufacturing Co.,Ltd. 【J-GAAP】

Earnings Report

Showa Manufacturing Co.,Ltd. <5953> [FukuokaSE] announced its financial results after the market closed on November 8th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 449 million yen, an increase of 56.4% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 72.1% decrease.

The progress rate against the 780 million yen full-year plan was 57.6%, also surpassing the progress rate of 34.5% from the same period of the previous year.

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 39.3% from the same period last year to 331 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 265 million yen, a 15.9% decrease compared to the same period last year. However, the operating profit margin improved from 8.2% in the same period last year to 9.3%.

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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 5,611 -299 -221 -154 -187.8 ー Nov 9, 2022 J-GAAP
Apr - Sep, 2023 6,117 182 287 194 235.6 34.5 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 6,352 399 449 272 330.4 57.6 Nov 8, 2024 J-GAAP
YoY +3.8% +119.2% +56.4% +40.2% +40.2%

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 6,000 30 80 60 72.8 0 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 6,352 399 449 272 330.4 0 Nov 8, 2024 J-GAAP
Revision Rate +5.9% +1,230.0% +461.3% +353.3% +353.8%

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 7,398 480 545 854 1,037.3 140 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 7,448 271 331 308 373.9 70 Nov 8, 2024 J-GAAP
YoY +0.7% -43.5% -39.3% -63.9% -64.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 12,042 -63 56 78 95.8 50 May 12, 2023 J-GAAP
Mar, 2024 13,515 662 832 1,048 1,272.9 140 May 10, 2024 J-GAAP
Mar, 2025 Guidance 13,800 670 780 580 704.0 70 May 10, 2024 J-GAAP
YoY +2.1% +1.2% -6.3% -44.7% -44.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 3,574 293 315 224 272.1 8.2 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 3,456 230 268 282 342.6 6.7 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 3,942 250 277 572 694.7 6.3 May 10, 2024 J-GAAP
Apr - Jun, 2024 2,723 63 184 62 76.0 2.3 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 3,629 336 265 210 255.1 9.3 Nov 8, 2024 J-GAAP
YoY +1.5% +14.7% -15.9% -6.3% -6.2%

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