Okano Valve Mfg (6492) Q4 2024 earnings summary

Executive summary

• Revenue rose 10.3% year-over-year to ¥8,169 million, exceeding initial plans due to strong domestic and overseas sales in the valve manufacturing and maintenance segments.

• Operating profit increased 46.0% year-over-year to ¥1,185 million, and net income attributable to shareholders surged 57.9% to ¥1,102 million, driven by higher sales and effective resource allocation.

• Maintenance segment outperformed expectations, benefiting from robust demand for nuclear and thermal power plant services.

• Fiscal year-end will shift from November 30 to September 30, with the next period covering 10 months as a transition.

Financial highlights

• Revenue: ¥8,169 million (up 10.3% year-over-year).

• Operating profit: ¥1,185 million (up 46.0% year-over-year).

• Ordinary profit: ¥1,283 million (up 40.9% year-over-year).

• Net income attributable to shareholders: ¥1,102 million (up 57.9% year-over-year).

• Comprehensive income: ¥1,232 million (up 65.1% year-over-year).

Outlook and guidance

• For the 10-month transition period ending September 2025, revenue is forecast at ¥6,402 million, operating profit at ¥528 million, ordinary profit at ¥590 million, and net income at ¥391 million.

• Maintenance segment activity expected to normalize, with gross margin anticipated to decline due to higher cost ratios.

• Guidance subject to change based on order environment and customer delivery schedules.