Okuma (6103) Q1 2025 earnings summary

Executive summary

• First quarter FY2024 sales declined to ¥45.33 billion, down 10.4% year-over-year, with operating income dropping to ¥3.07 billion and net income to ¥2.44 billion, reflecting a challenging start to the fiscal year.

• Operating profit decreased 44.7% year-over-year to ¥3,066 million.

• Profit attributable to owners of parent fell 47.8% year-over-year to ¥2.44 billion.

• Comprehensive income declined 37.3% year-over-year to ¥6,897 million.

Financial highlights

• Sales for 1Q FY2024 were ¥45.33 billion, a 10.4% decrease year-over-year.

• Operating income margin fell to 6.8% from 11.0% in the prior year.

• Ordinary profit dropped to ¥3,609 million from ¥6,043 million year-over-year.

• New orders for the quarter totaled ¥48.3 billion, a 1.0% decrease year-over-year.

• Backlog orders at quarter-end were ¥90.6 billion, down 17.5% from the previous year.

Outlook and guidance

• FY2024 sales forecast is ¥215.0 billion, a 5.7% decrease from FY2023.

• Operating income is projected at ¥21.5 billion, down 15.2% year-over-year.

• Net income forecast is ¥15.5 billion, a 20.0% decline from FY2023.

• Planned dividends for FY2024 are ¥200.0 per share.

• No revision to previously announced forecasts.