Fuji Electric Co Ltd (FELTF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. I am Miyoshi, and I will be taking charge of the Corporate Management Planning. In April of this year, we abolished the existing President's Office and incorporated the Public Relations and Investor Relations Department, which had been handled by the President's Office, into Corporate Management Planning Headquarters. We will continue to be in charge of communication with investors. Thank you very much for your cooperation. and I would like to begin with a report on our full-year financial results. We achieved record highs in net sales, operating profit, ordinary profit, and profit attributable to owners or parent, and we also achieved our key target of an operating profit ratio of over 10%. Next, a year-on-year comparison of the consolidated financial results for FY 2024. Net sales increased by 20.2 billion yen to 1,123.4 billion yen in real demand basis, without the gain on translation of earnings of overseas subsidiaries. Operating profit increased 11.6 billion yen to 117.6 billion yen. Details of the increase and decreases are shown on the next page. Ordinary profit amounted to 118.8 billion yen. The total amount of non-operating profits was minus 0.6 billion yen. This was due to an increase in net interest expenses, an increase in borrowings by overseas subsidiaries, and a foreign exchange loss of minus 3.5 billion yen. while a one-time expense incurred by a Malaysian subsidiary in the previous fiscal year and income from subsidies added a positive effect of 4 billion yen. Extraordinary profit increased by 8.7 billion yen to 14.9 billion yen, partly due to a gain on sales of investment securities. As a result, profit attributable to owners of parent increased 16.9 billion yen to 92.2 billion yen, and the ratio of profit attributable to owners of...