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UNION TOOL CO., The Current Fiscal Year Ordinary Profit Revised Downward by 3%

Mon Nov 11, 2024 3:00 pm JST Earnings

6278 UNION TOOL CO. 【J-GAAP】

Earnings Report

UNION TOOL CO. <6278> [TSE-P] announced its financial results in the afternoon session on November 11th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 4.82 billion yen, an increase of 52.1% compared to the same period last year.

However, the full-year consolidated ordinary profit has downwardly by 3.0%, from the previous forecast of 6.7 billion yen to 6.5 billion yen (compared to 4.07 billion yen in the previous period), leading to a reduction in the profit growth rate from 64.5% to 59.6%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 6.0%, from the previous forecast of 3.33 billion yen to 3.13 billion yen (compared to 1.9 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 74.9% to 64.4%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 45.0% from the same period last year, reaching 1.46 billion yen. The operating profit margin rose from 14.8% in the same period last year to 16.4%.

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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
Jan - Sep, 2022 23,100 5,515 5,748 4,209 243.7 85.3 Nov 9, 2022 J-GAAP
Jan - Sep, 2023 18,979 3,035 3,172 2,355 136.3 77.9 Nov 8, 2023 J-GAAP
Jan - Sep, 2024 22,825 4,258 4,824 3,562 206.2 74.2 Nov 11, 2024 J-GAAP
YoY +20.3% +40.3% +52.1% +51.3% +51.3%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 14,206 3,292 3,338 2,073 120.0 45 Aug 7, 2024 J-GAAP
Jul - Dec, 2024 New 14,306 3,092 3,138 1,973 114.2 45 Nov 11, 2024 J-GAAP
Revision Rate +0.7% -6.1% -6.0% -4.8% -4.8%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 30,000 6,400 6,700 4,600 266.3 90 Aug 7, 2024 J-GAAP
Dec, 2024 New 30,100 6,200 6,500 4,500 260.5 90 Nov 11, 2024 J-GAAP
Revision Rate +0.3% -3.1% -3.0% -2.2% -2.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2023 13,020 1,730 1,909 1,457 84.4 42 Feb 14, 2024 J-GAAP
Jul - Dec, 2024 Guidance 14,306 3,092 3,138 1,973 114.2 45 Nov 11, 2024 J-GAAP
YoY +9.9% +78.7% +64.4% +35.4% +35.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 29,091 6,190 6,737 4,996 289.2 84 Feb 14, 2023 J-GAAP
Dec, 2023 25,338 3,778 4,073 3,077 178.2 84 Feb 14, 2024 J-GAAP
Dec, 2024 Guidance 30,100 6,200 6,500 4,500 260.5 90 Nov 11, 2024 J-GAAP
YoY +18.8% +64.1% +59.6% +46.2% +46.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,661 987 1,008 735 42.6 14.8 Nov 8, 2023 J-GAAP
Oct - Dec, 2023 6,359 743 901 722 41.8 11.7 Feb 14, 2024 J-GAAP
Jan - Mar, 2024 7,423 1,422 1,630 1,198 69.4 19.2 May 13, 2024 J-GAAP
Apr - Jun, 2024 8,371 1,686 1,732 1,329 76.9 20.1 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 7,031 1,150 1,462 1,035 59.9 16.4 Nov 11, 2024 J-GAAP
YoY +5.6% +16.5% +45.0% +40.8% +40.8%

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