F.C.C. (7296) Q4 2023 earnings summary

Executive summary

• FY ended Mar. 31, 2023 revenue rose 28.1% YoY to ¥218,939 million; operating profit increased 18.4% to ¥11,903 million and profit attributable to owners rose 11.9% to ¥9,566 million.

• Total assets reached ¥210,626 million and total equity ¥162,124 million; operating cash flow was ¥21,014 million.

Financial highlights

• Profit was ¥9,802 million, up 12.9% YoY; profit before income taxes rose 14.2% to ¥13,641 million.

• Gross profit increased to ¥32,994 million from ¥27,737 million; cost of sales was ¥185,944 million and SG&A expenses were ¥21,669 million.

• Total comprehensive income declined 13.9% YoY to ¥16,300 million, including ¥5,782 million in exchange differences from foreign operations versus ¥10,271 million a year earlier.

Outlook and guidance

• FY ending Mar. 31, 2024 forecast: revenue ¥227,000 million (+3.7%), operating profit ¥14,000 million (+17.6%), profit before tax ¥14,500 million (+6.3%), and profit attributable to owners ¥9,600 million (+0.3%).

• FY24 basic EPS forecast is ¥193.05; H1 forecast revenue is ¥111,000 million (+3.6%) and operating profit ¥6,000 million (+41.6%).

• FY24 annual dividend forecast is ¥60 per share, comprising ¥30 interim and ¥30 year-end.