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IWAKI CO., LTD., First Half Ordinary Profit Decreases by 5%, July-September Ordinary Profit Decreases by 13%

Thu Nov 14, 2024 4:00 pm JST Earnings

6237 IWAKI CO., LTD. 【J-GAAP】

Earnings Report

IWAKI CO., LTD. <6237> [TSE-P] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 5.1% from the same period last year to 3.1 billion yen. However, The progress rate against the 5.82 billion yen full-year plan was 53.3%, almost the same as the five-year average of 50.5%.

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 7.9% from the same period last year to 2.71 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.43 billion yen, a 12.6% decrease compared to the same period last year. The operating profit margin decreased from 13.3% in the same period last year to 11.8%.

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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 17,810 1,185 2,205 2,987 136.2 58.9 Nov 14, 2022 J-GAAP
Apr - Sep, 2023 22,436 2,805 3,270 2,188 99.5 52.6 Nov 14, 2023 J-GAAP
Apr - Sep, 2024 22,540 2,771 3,102 2,173 98.4 53.3 Nov 14, 2024 J-GAAP
YoY +0.5% -1.2% -5.1% -0.7% -1.1%

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 23,269 2,371 2,594 1,767 79.9 25 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 22,540 2,771 3,102 2,173 98.4 25 Nov 14, 2024 J-GAAP
Revision Rate -3.1% +16.9% +19.6% +23.0% +23.1%

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 22,103 2,660 2,952 2,271 103.0 41 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 25,035 2,596 2,719 2,020 91.3 33 Nov 14, 2024 J-GAAP
YoY +13.3% -2.4% -7.9% -11.1% -11.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 37,730 2,254 3,745 4,257 193.9 61 May 12, 2023 J-GAAP
Mar, 2024 44,539 5,465 6,222 4,459 202.3 62 May 13, 2024 J-GAAP
Mar, 2025 Guidance 47,575 5,367 5,821 4,193 189.6 58 May 13, 2024 J-GAAP
YoY +6.8% -1.8% -6.4% -6.0% -6.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 11,329 1,509 1,643 1,080 49.1 13.3 Nov 14, 2023 J-GAAP
Oct - Dec, 2023 11,247 1,720 1,854 1,430 64.9 15.3 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 10,856 940 1,098 841 38.2 8.7 May 13, 2024 J-GAAP
Apr - Jun, 2024 11,220 1,431 1,666 1,089 49.3 12.8 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 11,320 1,340 1,436 1,084 49.1 11.8 Nov 14, 2024 J-GAAP
YoY -0.1% -11.2% -12.6% +0.4% 0.0%

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