Casio Computer Co (6952) Q4 2024 earnings summary

Executive summary

• FY March 2024 net sales rose 2% YoY to ¥268.8B, while operating profit fell 22% to ¥14.2B and net income declined 9% to ¥11.9B.

• Results fell short of plan, mainly as China’s consumption slowdown weighed on timepieces and consumer businesses; the medium-term plan was revised to prioritize structural reform and profitability.

Financial highlights

• FY March 2024 ordinary profit was ¥17.9B, down 8% YoY; EPS was ¥50.91 versus ¥54.65.

• Q4 net sales were ¥67.5B, up 8% YoY; operating profit was ¥2.4B, up 43%, and net income was ¥1.9B, up 128%.

• FY operating margin declined to 5.3% from 6.9%; operating profit was ¥14.2B versus ¥18.2B.

Outlook and guidance

• FY March 2025 forecast: net sales ¥275.0B, operating profit ¥16.0B, operating margin 5.8%, ordinary profit ¥15.0B, net income ¥10.0B and EPS ¥43.14.

• Revised FY March 2026 targets: net sales ¥290.0B, operating profit ¥26.0B and operating margin 9.0%, down from prior sales and profit targets of ¥310.0B and ¥36.0B.

• FY March 2025 segment plan includes timepiece sales of ¥170.0B and operating profit of ¥22.0B; EdTech sales of ¥64.0B and operating profit of ¥6.0B.

• The first half of the three-year plan focuses on strengthening the profit base, investing in core businesses and reforming unprofitable areas.