Asahi Intecc (7747) Q4 2024 earnings summary

Executive summary

• Achieved record consolidated revenue of ¥107,547 million for FYE June 2024, up 19.4% year-over-year, surpassing the 100 billion yen milestone in the mid-term plan.

• Both Medical and Device Divisions grew, with significant overseas revenue gains driven by exchange rate effects and strong demand.

• Net income attributable to parent company shareholders rose 20.6% year-over-year to ¥15,808 million.

• Operating income increased 22.8% year-over-year to ¥22,135 million, with higher R&D and sales promotion expenses offset by revenue growth.

Financial highlights

• Revenue: ¥107,547 million (+19.4% YoY); Gross profit: ¥69,053 million (+17.4% YoY); Operating income: ¥22,135 million (+22.8% YoY).

• EBITDA: ¥31,856 million (+19.1% YoY); EPS: ¥58.20 (+20.6% YoY).

• Results exceeded plan: revenue +7.2%, operating income +10.3%, net income +6.3% above targets.

• Overseas revenue and exchange rate effects (yen depreciation) contributed significantly to growth.

Outlook and guidance

• FYE June 2025 revenue forecast: ¥116,737 million (+8.5% YoY), with Medical Division overseas growth as main driver.

• Net income forecast: ¥18,803 million (+18.9% YoY); operating income: ¥25,210 million (+13.9% YoY).

• Gross profit margin expected to improve to 65.1%; R&D expenses to rise to ¥12,723 million (10.9% of revenue).

• Targeting mid-term plan revenue goal of ¥110 billion one year ahead of schedule.