The Japan Steel Works (5631) Q3 2024 earnings summary

Executive summary

• Orders increased 2.5% year-over-year to ¥228.76 billion, while revenue declined 0.7% to ¥172.73 billion.

• Operating income rose 51.6% year-over-year to ¥17.04 billion; net income attributable to shareholders grew 38.0% to ¥12.38 billion.

• Strong profit growth driven by improved segment performance, especially in engineering and defense-related machinery.

Financial highlights

• Operating margin improved significantly, with operating income up 51.6% and ordinary income up 42.1% year-over-year.

• Net income attributable to shareholders reached ¥12.38 billion, up 38.0% year-over-year.

• Total assets increased to ¥375.02 billion, with equity ratio rising to 49.5% from 48.3% at prior year-end.

• EPS for the period was ¥168.18, up from ¥121.87 year-over-year.

Outlook and guidance

• Full-year guidance remains unchanged from the November 8, 2024 forecast.

• FY2025 revenue forecast at ¥270 billion (+6.9% YoY), operating income ¥22 billion, net income ¥16 billion, and projected EPS ¥217.39.