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Japan Display Inc., The Current Fiscal Year Net Income Loss Widened in Downward Revision, 46% Deficit Against Net Assets

Wed Nov 13, 2024 3:30 pm JST Earnings

6740 Japan Display Inc. 【J-GAAP】

Earnings Report

Japan Display Inc. <6740> [TSE-P] announced its financial results after the market closed on November 13th (15:30). The consolidated net loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) was a reduced loss of 16.8 billion yen (compared to a loss of 28.7 billion yen in the same period last year).

However, the full-year consolidated net income/loss has been revised downward from an expected loss of 26.6 billion yen to a loss of 39.3 billion yen (compared to a loss of 44.3 billion yen in the previous period), indicating an expansion in the loss margin The deficit amounted to a 45.9% impairment of net assets at the end of the previous fiscal year..

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net loss for the October to March period (second half) is expected to expand to a loss of 22.4 billion yen (compared to a loss of 15.6 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated net loss improved to a deficit of loss of 10.3 billion yen (compared to a loss of 16.4 billion yen in the same period last year). However, the operating profit/loss margin drastically worsened from -11.3% in the same period last year to -18.0%.

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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 138,296 -11,779 -8,401 -11,633 -2.5 ー Nov 10, 2022 J-GAAP
Apr - Sep, 2023 119,882 -21,441 -19,113 -28,707 -4.6 ー Nov 10, 2023 J-GAAP
Apr - Sep, 2024 102,913 -15,481 -17,331 -16,821 -2.7 ー Nov 13, 2024 J-GAAP
YoY -14.2% +27.8% +9.3% +41.4% +41.4%

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 104,500 -15,300 -17,900 -17,000 -4.4 0 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 102,913 -15,481 -17,331 -16,821 -2.7 0 Nov 13, 2024 J-GAAP
Revision Rate -1.5% -1.2% +3.2% +1.1% +37.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 221,800 -18,200 -24,300 -26,600 -6.9 0 May 13, 2024 J-GAAP
Mar, 2025 New 180,000 -31,700 -36,800 -39,300 -10.1 0 Nov 13, 2024 J-GAAP
Revision Rate -18.8% -74.2% -51.4% -47.7% -47.9%

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 119,271 -12,704 -14,075 -15,606 -2.5 0 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 77,087 -16,219 -19,469 -22,479 -5.8 0 Nov 13, 2024 J-GAAP
YoY -35.4% -27.7% -38.3% -44.0% -129.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 270,746 -44,386 -42,924 -25,818 -5.5 0 May 12, 2023 J-GAAP
Mar, 2024 239,153 -34,145 -33,188 -44,313 -7.2 0 May 13, 2024 J-GAAP
Mar, 2025 Guidance 180,000 -31,700 -36,800 -39,300 -10.1 0 Nov 13, 2024 J-GAAP
YoY -24.7% +7.2% -10.9% +11.3% -41.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 66,886 -7,558 -7,033 -16,459 -2.7 -11.3 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 60,492 -6,223 -7,335 -9,277 -1.5 -10.3 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 58,779 -6,481 -6,740 -6,329 -1.0 -11.0 May 13, 2024 J-GAAP
Apr - Jun, 2024 55,917 -7,043 -7,855 -6,504 -1.1 -12.6 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 46,996 -8,438 -9,476 -10,317 -1.7 -18.0 Nov 13, 2024 J-GAAP
YoY -29.7% -11.6% -34.7% +37.3% +37.2%

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