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EIZO Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 24% Decrease

Thu Oct 31, 2024 3:00 pm JST Earnings

6737 EIZO Corporation 【J-GAAP】

Earnings Report

EIZO Corporation <6737> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 66.6% from the same period last year to 1.07 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 31.4%, from the previous forecast of 7 billion yen to 4.8 billion yen (compared to 6.32 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 24.1% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 19.4% from the same period last year, reaching 3.73 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 65 million yen, a 90.5% decrease compared to the same period last year. However, the operating profit margin improved from 3.1% in the same period last year to 4.2%.

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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 36,566 2,212 2,508 3,127 74.1 40.9 Oct 28, 2022 J-GAAP
Apr - Sep, 2023 37,185 1,636 3,203 2,158 52.5 50.6 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 36,817 830 1,070 709 17.2 22.3 Oct 31, 2024 J-GAAP
YoY -1.0% -49.3% -66.6% -67.1% -67.1%

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 ー ー ー ー － 52.50 May 9, 2024 J-GAAP
Apr - Sep, 2024 Results 36,817 830 1,070 709 17.2 52.50 Oct 31, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 85,000 5,500 7,000 5,000 121.5 105 Jul 31, 2024 J-GAAP
Mar, 2025 New 81,000 4,000 4,800 3,400 82.6 105 Oct 31, 2024 J-GAAP
Revision Rate -4.7% -27.3% -31.4% -32.0% -32.0%

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 43,286 2,272 3,123 3,296 80.1 50 May 9, 2024 J-GAAP
Oct - Mar, 2024 Guidance 44,183 3,170 3,730 2,691 65.4 52.50 Oct 31, 2024 J-GAAP
YoY +2.1% +39.5% +19.4% -18.4% -18.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 80,849 5,002 6,126 5,862 140.5 62.50 May 12, 2023 J-GAAP
Mar, 2024 80,471 3,908 6,326 5,454 132.6 100 May 9, 2024 J-GAAP
Mar, 2025 Guidance 81,000 4,000 4,800 3,400 82.6 105 Oct 31, 2024 J-GAAP
YoY +0.7% +2.4% -24.1% -37.7% -37.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 18,637 578 685 435 10.6 3.1 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 20,976 923 1,341 1,582 38.5 4.4 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 22,310 1,349 1,782 1,714 41.7 6.0 May 9, 2024 J-GAAP
Apr - Jun, 2024 18,197 57 1,005 725 17.6 0.3 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 18,620 773 65 -16 -0.4 4.2 Oct 31, 2024 J-GAAP
YoY -0.1% +33.7% -90.5% － －

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