RS Technologies (3445) Q4 2024 earnings summary

Executive summary

• FY2024 revenue reached a record ¥59.201bn, up 14.1% YoY; operating income rose 10.2% to ¥13.109bn.

• Parent-attributable net income increased 22.6% to ¥9.447bn, including a ¥1.500bn bargain-purchase gain from subsidiary consolidation.

Financial highlights

• Gross profit was ¥19.381bn (+11.3%); ordinary income was ¥15.668bn (+5.0%) and pretax income ¥17.169bn (+14.6%).

• Basic EPS was ¥358.21; diluted EPS was ¥356.23, versus ¥290.67 in FY2023.

• Total assets reached ¥182.147bn and net assets ¥135.548bn; year-end cash and equivalents were ¥83.760bn.

Outlook and guidance

• FY2025 guidance: revenue ¥75.0bn (+26.7%), operating income ¥15.1bn (+15.2%), ordinary income ¥16.6bn (+5.9%) and parent-attributable net income ¥8.76bn (-7.3%).

• FY2025–FY2027 sales targets are ¥75bn, ¥88bn and ¥100bn; operating income targets are ¥15.1bn, ¥17.7bn and ¥21.9bn.

• Planned net profit is ¥8.76bn in FY2025, ¥10.27bn in FY2026 and ¥12.7bn in FY2027; 2025–2027 targets include ROIC above 13% and ROE above 14%.

• Continued reclaimed and prime wafer investment aims to expand capacity and improve profitability; FY2027 8-inch and 12-inch prime wafer investment may change with market trends.