Ryoden (8084) Q2 2025 earnings summary

Executive summary

• Net sales for the six months ended September 30, 2024, declined 15.6% year-over-year to ¥109.6 billion, with net income at ¥1.94 billion.

• Operating profit dropped 42.5% to ¥2.44 billion, and comprehensive income decreased 21.6% year-over-year to ¥3.3 billion.

• Downward revision of full-year forecasts due to delayed recovery in FA systems, despite strong performance in cooling & heating, building systems, and electronics.

• Annual dividend forecast maintained at ¥106 per share.

Financial highlights

• Net sales for 2Q FYE2025: ¥109.6 billion, down ¥20.2 billion year-over-year.

• Operating profit: ¥2.44 billion, down ¥1.8 billion year-over-year.

• Net income: ¥1.94 billion, down ¥964 million year-over-year.

• Equity ratio improved to 61.9% from 55.7% year-over-year.

• Cash and cash equivalents increased by ¥6.14 billion to ¥26.15 billion.

Outlook and guidance

• Full-year net sales forecast revised to ¥218 billion, operating profit to ¥4.3 billion, and net income to ¥4.3 billion.

• Recovery in FA systems expected to be delayed until the next fiscal year.

• Cooling & heating, building systems, and electronics segments expected to remain strong.

• Annual dividend forecast unchanged at ¥106 per share.