Fujitec (6406) Q1 2025 earnings summary

Executive summary

• Net sales rose 11.4% year-over-year to ¥56,185 million, and operating income increased 3.9% to ¥3,971 million, both setting first-quarter records.

• Profit attributable to owners of parent increased 9.9% to ¥3,897 million; comprehensive income surged 94.8% to ¥11,511 million, driven by foreign currency translation.

• Orders decreased 3.6% year-over-year to ¥61,553 million, with New Installation orders down 27.8% and Aftermarket orders up 14.4%.

• The "Move On 5" mid-term plan was launched, targeting ¥325 billion in net sales and 13.5% operating margin by FY2028, with management structure enhancements.

• Management reforms in China included a 10% workforce reduction and branch consolidation.

Financial highlights

• Net sales: ¥56,185 million (+11.4% YoY); Japan: ¥21,209 million (+18.8%), Overseas: ¥34,975 million (+7.3%).

• Operating income: ¥3,971 million (+3.9% YoY); Ordinary income: ¥5,380 million (+17.7% YoY).

• Profit attributable to owners: ¥3,897 million (+9.9% YoY); EPS: 49.95 yen (vs. 45.48 yen last year).

• Gross profit increased to ¥12,610 million, with gross margin improving year-over-year.

• Total assets increased to ¥261,821 million, and net assets to ¥167,329 million as of June 30, 2024.

Outlook and guidance

• FY2024 guidance maintained: net sales ¥245,000 million (+6.8%), operating income ¥18,100 million (+24.2%), profit attributable to owners of parent ¥16,000 million (-10.3%), EPS ¥205.05.

• No changes to previously announced forecasts.