The Japan Steel Works (5631) Q1 2024 earnings summary

Executive summary

• Net sales for Q1 FY2024 were ¥47,602 million, down 13.1% year-over-year; operating profit rose 54.9% to ¥4,268 million.

• Ordinary profit increased 36.9% to ¥4,817 million; profit attributable to owners of parent grew 47.7% to ¥3,623 million.

• Earnings per share for the quarter were ¥49.24, up from ¥33.33 in the prior year period.

Financial highlights

• Gross profit for Q1 FY2024 was ¥12,766 million, up from ¥12,317 million year-over-year.

• Total assets increased to ¥373,713 million as of June 30, 2024, from ¥366,775 million at March 31, 2024.

• Net assets rose to ¥180,602 million, with an equity ratio of 47.9%.

• Comprehensive income for the quarter was ¥4,201 million, up from ¥2,978 million year-over-year.

Outlook and guidance

• Full-year FY2025 net sales forecast at ¥265,000 million, up 4.9% year-over-year.

• Operating profit projected at ¥20,000 million (+11.0%), ordinary profit at ¥20,500 million (+2.8%), and profit attributable to owners of parent at ¥15,500 million (+8.6%).

• Full-year EPS forecast is ¥210.61; annual dividend forecast raised to ¥74.00 per share.