Japan Aviation Electronics Industry (6807) Q1 2024 earnings summary

Executive summary

• Q1 FY2024 net sales reached ¥55.6 billion, up 7.4% year-over-year, with operating profit up 106.5% to ¥3.8 billion and net profit at ¥3.1 billion, including a ¥0.3 billion gain from land sale.

• Strong performance driven by robust automotive and aviation/space demand, cost controls, and yen depreciation, despite cost pressures and mixed market conditions.

Financial highlights

• Gross margin improved, with gross profit at ¥10,416 million and operating profit margin at 6.8% versus 3.5% a year ago.

• Ordinary profit increased to ¥3.4 billion, up 11% year-over-year; comprehensive income slightly decreased to ¥6,475 million.

• Basic earnings per share were ¥46.54, up from ¥27.42 a year earlier.

• Capital investments totaled ¥4.1 billion; depreciation and others at ¥5.4 billion.

• Total assets increased to ¥239,352 million, net assets to ¥131,293 million, and equity ratio to 54.8%.

Outlook and guidance

• Full-year forecast for FY2025 maintained: net sales ¥230,000 million (+1.9%), operating profit ¥17,000 million (+17.9%), profit attributable to owners of parent ¥12,500 million (+2.1%), and annual dividend forecast at ¥60 per share.

• Management targets are aspirational and not current projections; actual results may differ due to market and economic risks.