Furukawa Electric (5801) Q2 2025 earnings summary

Executive summary

• Achieved higher revenue and increased profit year-over-year in FY24 H1, outperforming expectations across most business segments.

• Net sales for the first half rose 13.4% year-over-year to ¥570,366 million, with operating profit at ¥17,545 million and profit attributable to owners at ¥11,194 million, reversing prior year losses.

• Comprehensive income surged 189.9% year-over-year to ¥37,049 million for the first half.

• Upward revision of full-year forecasts for net sales and all profit stages, reflecting strong business momentum.

• Dividend forecast raised to JPY 90 per share, aligning with improved profit outlook and a 30% payout target.

Financial highlights

• FY24 H1 net sales rose to JPY 570.4B (+13% YoY); operating profit reached JPY 17.5B (vs. -4.6B YoY); net income attributable to owners was JPY 11.2B (vs. -4.1B YoY).

• Operating profit improved from a loss of ¥4,612 million to a profit of ¥17,545 million year-over-year.

• Basic earnings per share turned positive at ¥158.87, compared to a loss of ¥58.88 in the prior year period.

• All segments except Service and Developments posted profit increases; margin improved to 3.1% from 0.9%.

• Full-year net sales forecast revised to JPY 1,140B (+8% YoY); operating profit to JPY 38B (+139% YoY); net income to JPY 22B (+138% YoY).

Outlook and guidance

• Full-year net sales forecast raised to ¥1,140,000 million, up 7.9% year-over-year.

• Operating profit projected at ¥38,000 million, a 240.2% increase year-over-year.

• Profit attributable to owners expected to reach ¥22,000 million, up 238.0% year-over-year.

• Dividend forecast revised upward to ¥90 per share for the year.

• H2 assumes copper price at JPY 1,295/kg and exchange rate at JPY 140/USD.