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SEIKO ELECTRIC CO.,LTD., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 42%, July-September Ordinary Profit Increases by 61%

Tue Oct 29, 2024 3:30 pm JST Earnings

6653 SEIKO ELECTRIC CO.,LTD. 【J-GAAP】

Earnings Report

SEIKO ELECTRIC CO.,LTD. <6653> [TSE-P] announced its financial results after the market closed on October 29th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 1.68 billion yen, an increase of 41.8% compared to the same period last year. The progress rate against the 2.05 billion yen full-year plan was 82.4%, also surpassing the five-year average of 55.7%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to drop by 42.2% from the same period last year to 361 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 61.3% from the same period last year, reaching 392 million yen. The operating profit margin improved from 3.6% in the same period last year to 5.5%.

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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 17,851 814 962 599 49.4 59.7 Oct 26, 2022 J-GAAP
Jan - Sep, 2023 18,603 1,062 1,191 782 64.4 65.6 Oct 25, 2023 J-GAAP
Jan - Sep, 2024 20,266 1,345 1,689 1,081 88.8 82.4 Oct 29, 2024 J-GAAP
YoY +8.9% +26.6% +41.8% +38.2% +38.0%

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 14,515 780 868 584 48.1 17.50 Feb 8, 2024 J-GAAP
Jul - Dec, 2024 Guidance 15,763 987 753 506 37.5 20 Jul 30, 2024 J-GAAP
YoY +8.6% +26.5% -13.2% -13.4% -22.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 25,007 1,440 1,612 1,082 89.3 30 Feb 1, 2023 J-GAAP
Dec, 2023 27,071 1,622 1,816 1,202 98.9 35 Feb 8, 2024 J-GAAP
Dec, 2024 Guidance 30,000 2,000 2,050 1,350 100.1 40 Feb 8, 2024 J-GAAP
YoY +10.8% +23.3% +12.9% +12.3% +1.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,047 220 243 164 13.5 3.6 Oct 25, 2023 J-GAAP
Oct - Dec, 2023 8,468 560 625 420 34.6 6.6 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 7,836 770 997 674 55.4 9.8 Apr 26, 2024 J-GAAP
Apr - Jun, 2024 6,401 243 300 170 14.0 3.8 Jul 30, 2024 J-GAAP
Jul - Sep, 2024 6,029 332 392 237 19.5 5.5 Oct 29, 2024 J-GAAP
YoY -0.3% +50.9% +61.3% +44.5% +44.3%

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