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The Furukawa Battery Co.,Ltd., First Half Net Income Turns to Loss, July-September Net Income Turns to Loss

Thu Nov 7, 2024 2:00 pm JST Earnings

6937 The Furukawa Battery Co.,Ltd. 【J-GAAP】

Earnings Report

The Furukawa Battery Co.,Ltd. <6937> [TSE-P] announced its financial results in the afternoon session on November 7th (14:00). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 731 million yen (compared to a profit of 594 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow by 25.8% from the same period last year, reaching 2.49 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 461 million yen (compared to a profit of 165 million yen in the same period last year). However, the operating profit margin drastically improved from 2.0% in the same period last year to 7.5%.

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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 29,830 -381 -231 -228 -7.0 ー Nov 8, 2022 J-GAAP
Apr - Sep, 2023 32,430 42 164 594 18.2 4.8 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 37,381 1,269 1,374 -731 -22.3 33.5 Nov 7, 2024 J-GAAP
YoY +15.3% +2,921.4% +737.8% － －

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 － － May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 37,381 1,269 1,374 -731 -22.3 － Nov 7, 2024 J-GAAP
Revision Rate － － － － －

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 43,025 3,191 3,253 1,980 60.4 21 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 42,619 2,731 2,726 2,491 76.0 0 Nov 7, 2024 J-GAAP
YoY -0.9% -14.4% -16.2% +25.8% +25.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 69,538 1,900 2,193 797 24.3 19 May 11, 2023 J-GAAP
Mar, 2024 75,455 3,233 3,417 2,574 78.6 21 May 13, 2024 J-GAAP
Mar, 2025 Guidance 80,000 4,000 4,100 1,760 53.7 0 Sep 26, 2024 J-GAAP
YoY +6.0% +23.7% +20.0% -31.6% -31.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 17,694 351 375 165 5.0 2.0 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 20,889 1,016 1,013 667 20.4 4.9 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 22,136 2,175 2,240 1,313 40.1 9.8 May 13, 2024 J-GAAP
Apr - Jun, 2024 17,169 -246 -129 -270 -8.3 -1.4 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 20,212 1,515 1,503 -461 -14.1 7.5 Nov 7, 2024 J-GAAP
YoY +14.2% +331.6% +300.8% － －

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