OBIC Co. (4684) Q2 2025 earnings summary

Executive summary

• Net sales for the six months ended September 30, 2024, rose 6.9% year-over-year to ¥59,173 million, with operating income up 9.2% to ¥38,629 million and net income up 12.9% to ¥32,059 million.

• Operating income increased for the 24th consecutive first half period, with an operating margin of 65.3%.

• Orders received grew 6.5% year-over-year, reflecting robust demand across core segments.

• Ordinary profit rose 11.2% year-over-year to ¥44,530 million.

• Comprehensive income declined 44.6% year-over-year to ¥28,768 million, mainly due to a decrease in valuation difference on available-for-sale securities.

Financial highlights

• Gross profit increased by ¥3,428 million year-over-year to ¥46,504 million.

• Cash and deposits at period-end totaled ¥180,134 million, up ¥9,889 million from March 2024.

• Equity ratio remained strong at 87.4%.

• Total assets reached ¥472,212 million as of September 30, 2024, up from ¥462,165 million at March 31, 2024.

• Net assets per share increased to ¥937.94, adjusted for the share split.

Outlook and guidance

• Full-year forecast for FY2025 projects net sales of ¥122,800 million (+10.0% YoY), operating income of ¥78,000 million (+10.0%), and net income of ¥63,000 million (+8.6%).

• Ordinary profit forecast for FY2025 is ¥88,000 million (+8.4% YoY).

• Basic earnings per share forecast is ¥143.22, reflecting the share split.

• Annual dividend forecast is 64 yen per share (pre-split) or ¥32.00 per share (post-split), with a payout ratio of 44.2%.

• No revisions to previously announced earnings forecasts.