Otsuka (4768) Q3 2024 earnings summary

Executive summary

• Achieved increases in sales and profits for 10 consecutive quarters, with all categories reaching record highs in Q3 2024.

• Net sales for the nine months ended September 30, 2024, rose 11.1% year-over-year to ¥822,262 million, with operating profit up 10.1% to ¥52,169 million and profit attributable to owners up 10.5% to ¥36,631 million.

• Comprehensive income increased 5.4% year-over-year to ¥35,807 million.

• PC sales surged, driven by replacement demand for telework and Windows 10 EOS.

• A two-for-one stock split was implemented effective April 1, 2024, and all per-share figures are adjusted accordingly.

Financial highlights

• Consolidated net sales for Jan–Sep 2024: ¥822,262 million, up 11.1% year-over-year.

• Operating profit: ¥52,169 million, up 10.1% year-over-year; ordinary profit: ¥54,015 million, up 10.6%.

• Profit attributable to owners: ¥36,631 million, up 10.5% year-over-year.

• Q3 2024 consolidated net sales: ¥252,540 million, up 15.3% year-over-year; operating profit: ¥13,326 million, up 24.8%.

• Gross profit for the nine-month period was ¥163,879 million, up from ¥152,581 million year-over-year.

Outlook and guidance

• FY2024 consolidated net sales forecast: ¥1,055,000 million; operating profit: ¥69,500 million; ordinary profit: ¥70,500 million; profit attributable to owners: ¥48,700 million.

• Full-year 2024 forecast projects net sales up 7.9% year-over-year, operating profit up 10.4%, and profit attributable to owners up 2.6%.

• Forecasted basic EPS for the full year is ¥128.43 after stock split.