Chofu Seisakusho (5946) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of FY2024 was ¥20,234 million, a 13.4% decrease year-over-year due to weak demand in the construction sector and lower sales in key product categories.

• Operating profit dropped 87.3% year-over-year to ¥188 million, and net profit attributable to shareholders fell 47.2% to ¥974 million.

• The company focused on increasing sales of high-efficiency, energy-saving products and participated in the GX League for carbon neutrality.

Financial highlights

• Revenue: ¥20,234 million (down 13.4% year-over-year).

• Operating profit: ¥188 million (down 87.3% year-over-year).

• Ordinary profit: ¥1,343 million (down 48.9% year-over-year).

• Net profit attributable to shareholders: ¥974 million (down 47.2% year-over-year).

• EPS: ¥28.71 (down from ¥53.83 year-over-year).

Outlook and guidance

• Full-year revenue forecast revised to ¥45,800 million (down 5.6% year-over-year).

• Full-year operating profit forecast revised to ¥1,800 million (down 46.2% year-over-year).

• Net profit forecast for the year: ¥2,900 million (down 27.5% year-over-year).

• Dividend forecast unchanged at ¥46.00 per share for the full year.