Tachibana Eletech (8159) Q2 2024 earnings summary

Executive summary

• Q2 FY2024 consolidated sales reached ¥1,148億, up 4.3% YoY; operating, ordinary and net income all set Q2 records.

• FA Systems led segment growth; FY2024 guidance calls for sales of ¥2,260億 and operating income of ¥104億.

Financial highlights

• Sales were ¥1,148億 vs. ¥1,100億 YoY; operating income ¥57億 vs. ¥48億, ordinary income ¥65億 vs. ¥58億, and net income attributable to owners ¥45億 vs. ¥41億.

• All four Q2 results were record highs; YoY growth was 4.3% in sales, 20.3% in operating income, 13.0% in ordinary income and 9.1% in net income.

Outlook and guidance

• FY2024 forecast: sales ¥2,260億, operating income ¥104億, ordinary income ¥110億 and net income attributable to owners ¥75億.

• Versus FY2023, forecast sales are 99.4%, operating income 100.8%, ordinary income 100.0% and net income 95.7%; EPS forecast is ¥304.96 vs. ¥313.91.

• H2 priorities include improving order accuracy and supply readiness, refining NEW C.C.J2200 initiatives, and advancing DX under the IT Grand Design.