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SEIWA ELECTRIC MFG. CO., LTD., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 68%, July-September Ordinary Profit Increases by 70%

Wed Nov 13, 2024 4:30 pm JST Earnings

6748 SEIWA ELECTRIC MFG. CO., LTD. 【J-GAAP】

Earnings Report

SEIWA ELECTRIC MFG. CO., LTD. <6748> [TSE-S] announced its financial results after the market closed on November 13th (16:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 928 million yen, an increase of 67.8% compared to the same period last year. However, The progress rate against the 1.55 billion yen full-year plan was 59.9%, also falling below the three-year average of 73.8%.

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 grow by 2.6% from the same period last year, reaching 622 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 70.0% from the same period last year, reaching 386 million yen. The operating profit margin improved from 4.1% in the same period last year to 5.3%.

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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 15,712 806 810 595 45.3 51.4 Nov 8, 2022 J-GAAP
Jan - Sep, 2023 16,232 471 553 402 30.6 47.7 Nov 13, 2023 J-GAAP
Jan - Sep, 2024 17,256 821 928 658 50.2 59.9 Nov 13, 2024 J-GAAP
YoY +6.3% +74.3% +67.8% +63.7% +63.9%

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 13,025 797 833 586 44.6 18 Feb 13, 2024 J-GAAP
Jul - Dec, 2024 Guidance 14,497 991 1,008 698 53.4 18 Aug 9, 2024 J-GAAP
YoY +11.3% +24.3% +21.0% +19.1% +19.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 23,429 1,543 1,575 1,101 83.8 15 Feb 13, 2023 J-GAAP
Dec, 2023 23,760 1,041 1,159 793 60.4 18 Feb 13, 2024 J-GAAP
Dec, 2024 Guidance 25,500 1,480 1,550 1,070 81.8 18 Feb 13, 2024 J-GAAP
YoY +7.3% +42.2% +33.7% +34.9% +35.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 5,497 227 227 195 14.9 4.1 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 7,528 570 606 391 29.8 7.6 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 5,413 440 444 301 22.9 8.1 May 14, 2024 J-GAAP
Apr - Jun, 2024 5,590 49 98 71 5.4 0.9 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 6,253 332 386 286 21.8 5.3 Nov 13, 2024 J-GAAP
YoY +13.8% +46.3% +70.0% +46.7% +46.8%

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