FY2024 First Quarter Financial Results
October 31st, 2024 MARUWA CO., LTD（5344）
１．Overview
FY2024 1H(Apr. ~ Sep.) | FY2023 1H(Apr. ~ Sep.) | ||
Increase/Decrease | |||
from forecast | |||
Net sales | 34,822 | ＋24.1% | 28,063 |
Operating profit | 12,789 | ＋47.9% | 8,649 |
Ordinary profit | 11,999 | ＋24.8% | 9,616 |
Net profit | 8,440 | ＋24.5% | 6,777 |
（Unit: Million; Currency: YEN）
2024 MARUWA CO., LTD.
２．Quarterly consolidated operating results
Record-high quarterly performance
New energy vehicles and next generation high-speed communications drive growth
20,000 | FY2021 | FY2022 | FY2023 | FY2024 | ||||||||||
15,000 | 40.0% | |||||||||||||
10,000 | ||||||||||||||
20.0% | ||||||||||||||
5,000 | ||||||||||||||
0 | FY21 | FY22 | FY23 | FY24 | 0.0% | |||||||||
2Q | 3Q | 4Q | 2Q | 3Q | 4Q | 2Q | 3Q | 4Q | 2Q | |||||
1Q | 1Q | 1Q | 1Q | |||||||||||
Net sales | ||||||||||||||
11,112 | 13,610 | 15,347 | 14,273 | 13,954 | 15,714 | 14,908 | 14,227 | 12,722 | 15,341 | 16,962 | 16,537 | 16,243 | 18,579 | |
Operating profit | 3,182 | 4,744 | 5,434 | 4,854 | 4,749 | 5,866 | 5,423 | 4,102 | 3,530 | 5,118 | 5,744 | 5,408 | 5,640 | 7,139 |
Operating profit % | 28.6% | 34.9% | 35.4% | 34.0% | 34.0% | 37.3% | 36.4% | 28.8% | 27.7% | 33.4% | 33.9% | 32.7% | 34.7% | 38.4% |
（Unit: Million; Currency: Yen）
2024 MARUWA CO., LTD.
３．Sales breakdown by market
■Sales amount by market | ■By market |
Tele-communication: Business performance has increased for the next generation high-speed communications.
Automobile: New energy vehicles have remained strong.
SPE：Demand growth trend against the backdrop of generative AI development.
FY2024 1H | YoY | FY2023 1H |
Tele-communication | 74 | ＋35% | 55 |
Automobile | 38 | ＋19% | 32 |
SPE | 28 | ＋8% | 26 |
equipment | 23 | ＋10% | 21 |
Industrial | |||
Lighting | 22 | ＋10% | 20 |
（Unit: 100 million; Currency: Yen）
FY2023 1H
FY2024 1H
Tele-
communication
Automobile
SPE
Industrial
equipment
Lighting
13.0%
13.6% 35.7%
16.9% 20.8%
11.9%
12.4% 40.0%
15.1%
20.5%
2024 MARUWA CO., LTD.
４．Inventory value
【Inventory value】
12,000 | |||||
10,000 | 2,235 | ||||
2,503 | 2,509 | 2,248 | 2,103 | ||
8,000 | |||||
6,000 | 3,084 | 3,086 | 2,960 | 3,348 | 3,427 |
4,000 | |||||
2,000 | 4,450 | 4,488 | 4,575 | 4,903 | 4,673 |
0 | As of Sep. 30, 2023 | As of Dec. 31, 2023 | As of March 31, 2024 | As of June 30, 2024 | As of Sep. 30, 2024 |
Marchandice and finished product
Work in progress
Row materials and supplies
We are strategically securing raw materials and supplies in order to cope with the increase in orders, and maintain a healthy supply chain.
Total inventory remains in operation within normal limits.
（Unit: Million; Currency: Yen）
2024 MARUWA CO., LTD.
５．Out look for FY2024（Market trends）
Market | Trends |
Automobile | ・New energy vehicles（HV, PHV,BEV）sales remain strong. |
・Focus on strengthening production systems through factory | |
construction to meet demand. | |
Tele- | ・Demand continues to be strong for next-generation high speed |
communication | communications. |
・The full recovery of the general-purpose memory market is expected to | |
SPE | be delayed to the next quarter. |
・On the other hand, the demand environment has increased due to the | |
development speed and expansion of generative AI. |
2024 MARUWA CO., LTD.
６. FY2024 year-end forecast
We will revise FY2024 year-end forecast at an appropriate time.
The first half results are strong, and current progress is on track.
On the other hand, the environment surrounding our business remains uncertain.
…Japan-U.S. political trends, monetary policies of each country and geopolitical risks etc.
Based on various trends, we will consider revising the FY2024 year-end forecast at an appropriate time
[Reference] Current outlook (announced on April 25, 2024)
FY2024 year-end forecast | |||
YoY | |||
70,300 | |||
Net sales | ＋14.2% | ||
profit | 23,000 | ＋16.2% | |
Operating | |||
（Unit: Million; Currency: Yen） |
※Exchange assumption: 1 dollar = 147 yen
※Regarding "Ordinary income" and "Profit attributable to owners of parent", they are expected to fluctuate mainly due to foreign exchange factors.
Therefore, we have omitted to describe forecasts due to the uncertainty of exchange rate trends at this time.
2024 MARUWA CO., LTD.
７．Capital investment/Depreciation
■Capital investment | ■ Depreciation/Percentage of sales |
Investment in new plants and building for mid to long-term growth, and focusing on investment to improve productivity.
The new factory plan is all on schedule.
【Capital | After the next term |
16,000 | Increase in investment |
12,000
Current term (estimeated)
8,000
4,000
0
FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | After |
（Unit: Million; Currency: Yen） | FY25 | |||||
Steadily lead to improved competitiveness and productivity.
【Depreciation】 | 【Depreciation/Year and sales amount】 | ||||||
Despreciation | Percentage of sales | ||||||
8,000 | 40.0% | ||||||
6,000 | Current term 30.0% | |||
(estimated) | ||||
4,000 | 20.0% | |||
2,000 | 10.0% | |
0 | 0.0% | ||||||
FY19 | FY20 | FY21 | FY22 | FY23 | FY24 |
2024 MARUWA CO., LTD.
８．Shareholder return
This fiscal year marks the 12th consecutive year of dividend increase.
We aim to continue steadily increasing dividends in the future.
36
Dividends per share
94 yen /year
47
43
40
36
22 | 24 |
26
43 47
17 | 18 | 19 | 20 | |||
15 | ||||||
22 | 24 | |||||
15 | 17 | 18 | 19 | 20 | ||
26 28
34 38
（Unit：YEN）
13/3 | 14/3 | 15/3 | 16/3 | 17/3 | 18/3 | 19/3 | 20/3 | 21/3 | 22/3 | 23/3 | 24/3 | 25/3 |
2024 MARUWA CO., LTD.
2024 MARUWA CO., LTD.