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FUKUDA DENSHI CO.,LTD., First Half Ordinary Profit Decreases by 20%, July-September Ordinary Profit Decreases by 25%

Thu Oct 31, 2024 3:00 pm JST Earnings

6960 FUKUDA DENSHI CO.,LTD. 【J-GAAP】

Earnings Report

FUKUDA DENSHI CO.,LTD. <6960> [TSE-S] 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) decreased by 20.1% from the same period last year to 11.2 billion yen. The progress rate against the 23 billion yen full-year plan was 49.0%, almost the same as the five-year average of 46.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 8.9% from the same period last year to 11.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 6.61 billion yen, a 25.4% decrease compared to the same period last year. The operating profit margin decreased from 23.7% in the same period last year to 18.1%.

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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 62,628 11,070 11,662 8,119 268.4 46.5 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 66,541 13,951 14,099 9,810 324.3 52.2 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 64,314 10,654 11,262 7,706 267.3 49.0 Oct 31, 2024 J-GAAP
YoY -3.3% -23.6% -20.1% -21.4% -17.6%

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 － 85 May 15, 2024 J-GAAP
Apr - Sep, 2024 Results 64,314 10,654 11,262 7,706 267.3 85 Oct 31, 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 73,782 12,555 12,891 8,883 295.8 105 May 15, 2024 J-GAAP
Oct - Mar, 2024 Guidance 70,686 12,346 11,738 8,794 305.1 85 Oct 31, 2024 J-GAAP
YoY -4.2% -1.7% -8.9% -1.0% +3.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 134,648 24,093 25,081 17,278 571.3 170 May 15, 2023 J-GAAP
Mar, 2024 140,323 26,506 26,990 18,693 622.4 185 May 15, 2024 J-GAAP
Mar, 2025 Guidance 135,000 23,000 23,000 16,500 572.4 170 May 15, 2024 J-GAAP
YoY -3.8% -13.2% -14.8% -11.7% -8.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 37,361 8,850 8,872 6,315 208.8 23.7 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 32,717 5,335 5,504 3,826 126.5 16.3 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 41,065 7,220 7,387 5,057 168.4 17.6 May 15, 2024 J-GAAP
Apr - Jun, 2024 30,341 4,515 4,647 3,031 105.2 14.9 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 33,973 6,139 6,615 4,675 162.2 18.1 Oct 31, 2024 J-GAAP
YoY -9.1% -30.6% -25.4% -26.0% -22.3%

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