Rion (6823) Q4 2024 earnings summary

Executive summary

• FY2024 revenue, operating income, ordinary income and net income all reached record highs; particle measurement led growth.

• Revenue rose 7.8% YoY to ¥25,726m and operating income increased 22.2% to ¥3,474m, supported by stronger sales mix and higher-value products.

Financial highlights

• Gross profit was ¥13,046m, up 11.5% YoY; gross margin rose to 50.7% from 49.0%.

• Ordinary income increased 18.5% to ¥3,562m; net income rose 47.4% to ¥2,652m and EPS was ¥215.51.

• Selling, general and administrative expenses grew 8.1% to ¥9,571m, while cost of sales increased 4.2% to ¥12,680m.

• Special losses fell to ¥95m from ¥678m in FY2023, contributing to the year-over-year net income increase.

Outlook and guidance

• FY2025 guidance: revenue ¥26,900m, operating and ordinary income ¥3,700m, and net income ¥2,700m.

• FY2026 and FY2027 revenue targets are ¥28,000m and ¥29,400m; operating income targets are ¥4,000m and ¥4,400m, respectively.

• Particle measurement revenue is forecast at ¥8,100m in FY2025, ¥8,750m in FY2026 and ¥9,600m in FY2027; capacity investment will continue, adding costs.

• Medium-term targets include ¥30bn consolidated revenue, 15% operating margin and 10% ROE.