ORGANO CORPORATION Financial Results for Fiscal Year Ended March 31, 2024
Securities Code: 6368
May 15, 2024
1
Contents
- FY ended 03/2024 Results and Overview of FY ending 03/2025 Plan
- Analysis of Results and Plans for Each Division
- Medium- to Long-term Management Plan
- Company Overview and Business Profile
- Figures in these materials are rounded down to the nearest unit of indication. Percentages, comparisons with the previous fiscal year and plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point.
2
Contents
- FY ended 03/2024 Results and Overview of FY ending 03/2025 Plan
- Analysis of Results and Plans for Each Division
- Medium- to Long-term Management Plan
- Company Overview and Business Profile
- Figures in these materials are rounded down to the nearest unit of indication. Percentages, comparisons with the previous fiscal year and plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point.
3
FY ended 03/2024 Results and Overview of FY ending 03/2025 Plan
Results for Year Ended March 2024
Comparison | |||
(Millions of yen) | 03/2024 Actual | Year-on-Year | with Previous |
Forecast | |||
(02/02/2024) | |||
Orders Received | 144,468 | -29,023 | +968 |
(-16.7%) | (+0.7%) | ||
Net Sales | 150,356 | +17,930 | +356 |
(+13.5%) | (+0.2%) | ||
Operating Profit | 22,544 | +7,332 | +544 |
(+48.2%) | (+2.5%) | ||
(%) | 15.0% | +3.5 pt | +0.3 pt |
ROE (%) | 18.4% | +3.9 pt | +1.7 pt |
- Orders received decreased due to a rebound from the previous fiscal year, when we received a series of large-scale projects,however, the Service Solutions, General Industry, and others performed strongly.
- In terms of sales, good progress was made on construction of projects with order backlog in Japan and overseas. Growth in facility-owned services and other areas of the Service Solutions also contributed.
- For operating profit, theprofit margin increased due to the effects of growing sales, as well as improved order profitability, cost reductions, and other initiatives.
Plan for Year Ending March 2025
(Millions of yen) 03/2025 Plan Year-on-Year
Orders Received | 155,000 | +10,532 |
(+7.3%) | ||
Net Sales | 155,000 | +4,644 |
(+3.1%) | ||
Operating Profit | 23,000 | +456 |
(+2.0%) | ||
(%) | 14.8% | -0.2 pt |
ROE (%) | 15.0% | -3.4 pt |
- Orders received assume a high level of capital investment both within and outside of Japan, centering on the semiconductor field where investment appetite is strong.
- The sales plan calls for expansion of the Service Solutions and growing sales of water treatment chemicals and other products, in addition to progress on construction for received orders.
- For operating profit, we will maintain a profit margin of around 15%. We will reinforce investment for further growth and expandingdelivery capacity.
4
FY ended 03/2024: Overview of Full-year Results
Order Analysis | |
Performance Products | |
Electric Power/Water Supply and Sewage | |
Electronics Industry | |
+1.2 | General Industry |
Sales Analysis
Performance Products
Electric Power/Water Supply and Sewage
Electronics Industry
General Industry
(Billions of yen)
Operating Profit Analysis
Expansion of Sales
Improvement in Profit Margin
Increase in SG&A
+1.5 |
+1.2 |
+4.7 |
22.5 | +6.7 |
173.4 | +0.5 | |
-33.0 | ||
-3.2 | 150.0 | |
144.4 | -3.0 | |
+1.5 +0.6
+14.3+3.0 150.3
+0.5
+0.7 | |
-1.6 | 150.0 |
+4.1 | |
15.2 | -1.5 |
-0.2 |
-29.0 billion | -5.1445 billion.4 |
YoY | vs. Plan |
132.4 | -1.0 | 148.4 | ||||||||||
+17.9 billion | +0.3 billion | |||||||||||
YoY | vs. Plan | |||||||||||
+7.3 billion |
YoY
+6.5 billion |
vs. Plan |
03/2023 Actual | 03/2024 Actual | Initial Plan |
[Orders]
Orders were down due to a rebound decline from the previous fiscal year, when we received
- series of large-scale projects.Orders were down in comparison to the plan due to factors including order timing that was later than expected for some projects. However, the level of capital investment centering on semiconductors remained high both in Japan and overseas.
03/2023 Actual | 03/2024 Actual | Initial Plan |
[Sales]
Sales compared to the previous year were higher due to factors including progress on construction for large-scale projects centering on the electronics industry, and growth of Service Solutions. Compared to the plan, although progress on some projects relatedto semiconductors was slower than expected, this shortfall was covered by higher sales in each area.
03/2023 Actual | 03/2024 Actual | Initial Plan |
[Operating Profit]
Compared to the previous fiscal year, in addition to the effects of growing sales, improved Plant Division profitability, growth in Service Solutions, and other factors increased the profit margin and covered our personnel expenses and other SG&A expenses. Compared to the plan, the profit margin increased by more than expected for both Plant and ServiceSolutions.
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FY ended 03/2024: Consolidated Statement of Income
FY Ended | FY Ended 03/2024 | |||||||||
(Millions of yen) | 03/2023 | Previous | Year-on-Year | Vs. Initial | Vs. Previous | |||||
Full-year | ||||||||||
Full-year | Initial Plan | |||||||||
Forecast | Actual | Plan | Forecast | |||||||
Actual | ||||||||||
(02/02/2024) | ||||||||||
Orders Received | 173,491 | 150,000 | 143,500 | 144,468 | -29,023 | -5,532 | +968 | |||
(-16.7%) | (-3.7%) | (+0.7%) | ||||||||
Net Sales | 132,426 | 150,000 | 150,000 | 150,356 | +17,930 | +356 | +356 | |||
(+13.5%) | (+0.2%) | (+0.2%) | ||||||||
Gross Profit | 34,976 | 37,000 | 43,000 | 43,841 | +8,865 | +6,841 | +841 | |||
(+25.3%) | (+18.5%) | (+2.0%) | ||||||||
(%) | 26.4% | 24.7% | 28.7% | 29.2% | +2.8 pt | +4.5 pt | +0.5 pt | |||
SG&A | 19,763 | 21,000 | 21,000 | 21,297 | +1,534 | +297 | +297 | |||
(+7.8%) | (+1.4%) | (+1.4%) | ||||||||
Operating Profit | 15,212 | 16,000 | 22,000 | 22,544 | +7,332 | +6,544 | +544 | |||
(+48.2%) | (+40.9%) | (+2.5%) | ||||||||
(%) | 11.5% | 10.7% | 14.7% | 15.0% | +3.5 pt | +4.3 pt | +0.3 pt | |||
Profit Attributable to | 11,730 | 11,200 | 17,000 | 17,310 | +5,580 | +6,110 | +310 | |||
Owners of Parent | (+47.6%) | (+54.6%) | (+1.8%) | |||||||
ROE (%) | 14.5% | 12.6% | 18.4% | 18.4% | +3.9 pt | +5.8 pt | +0.0 pt | |||
6 |
FY ended 03/2024: Results by Segment
FY Ended | FY ended 03/2024 | ||||||||||
(Millions of yen) | 03/2023 | Previous | Year-on-Year | Vs. Initial | Vs. | ||||||
Full-year | |||||||||||
Full-year | Initial Plan | Forecast | Previous | ||||||||
Actual | Plan | ||||||||||
Actual | (02/02/2024) | Forecast | |||||||||
Orders Received | 173,491 | 150,000 | 143,500 | 144,468 | -29,023 | -5,532 | +968 | ||||
(-16.7%) | (-3.7%) | (+0.7%) | |||||||||
Company | |||||||||||
Operating Profit | 15,212 | 16,000 | 22,000 | 22,544 | +17,930 | +356 | +356 | ||||
Net Sales | 132,426 | 150,000 | 150,000 | 150,356 | (+13.5%) | (+0.2%) | (+0.2%) | ||||
+7,332 | +6,544 | +544 | |||||||||
(+48.2%) | (+40.9%) | (+2.5%) | |||||||||
(%) | |||||||||||
11.5% | 10.7% | 14.7% | 15.0% | +3.5 pt | +4.3 pt | +0.3 pt | |||||
Orders Received | 152,422 | 128,200 | 121,500 | 122,122 | -30,300 | -6,078 | +622 | ||||
TreatmentWater Engineering | (-19.9%) | (-4.7%) | (+0.5%) | ||||||||
Net Sales | 111,601 | 128,200 | 128,000 | 127,995 | +16,394 | -205 | -5 | ||||
(+14.7%) | (-0.2%) | (-0.0%) | |||||||||
Operating Profit | 12,966 | 13,500 | 19,100 | 19,582 | +6,616 | +6,082 | +482 | ||||
(+51.0%) | (+45.1%) | (+2.5%) | |||||||||
(%) | |||||||||||
11.6% | 10.5% | 14.9% | 15.3% | +3.7 pt | +4.8 pt | +0.4 pt | |||||
Products | Orders Received | 21,068 | 21,800 | 22,000 | 22,346 | +1,278 | +546 | +346 | |||
+1,536 | +560 | +360 | |||||||||
(+6.1%) | (+2.5%) | (+1.6%) | |||||||||
Performance | Net Sales | 20,824 | 21,800 | 22,000 | 22,360 | (+7.4%) | (+2.6%) | (+1.6%) | |||
Operating Profit | 2,246 | 2,500 | 2,900 | 2,961 | +715 | +461 | +61 | ||||
(+31.8%) | (+18.4%) | (+2.1%) | |||||||||
(%) | 10.8% | 11.5% | 13.2% | 13.2% | +2.5 pt | +1.8 pt | +0.1 pt | ||||
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FY ended 03/2024: Consolidated Balance Sheet
FY Ended | |||
FY Ended | |||
(Millions of yen) | 03/2023 | 03/2024 | Year-on-Year |
Full-year | Full-year | ||
Actual | Actual | ||
Cash and Deposits | 15,558 | 17,642 | +2,084 |
Accounts Receivable | 75,683 | 82,226 | +6,542 |
and Contract Assets | |||
Merchandise, | 8,909 | 12,609 | |
Finished Goods, Raw | +3,700 | ||
Materials, Etc. | |||
Investments in | 9,853 | 27,814 | +17,960 |
Leases | |||
Work in Process | 21,886 | 9,221 | -12,664 |
Other | 4,873 | 3,955 | -918 |
Total Current | 136,765 | 153,469 | +16,703 |
Assets | |||
Total Non-current | 28,088 | 29,233 | +1,145 |
Assets | |||
Total Assets | 164,854 | 182,703 | +17,849 |
FY Ended | |||
FY Ended | |||
03/2023 | 03/2024 | Year-on-Year | |
Full-year | Full-year | ||
Actual | Actual | ||
Trade Payable | 25,545 | 22,682 | -2,863 |
Short-term | 29,124 | 34,065 | +4,940 |
Borrowings | |||
Other | 14,068 | 15,854 | +1,785 |
Total Current | 68,738 | 72,602 | +3,863 |
Liabilities | |||
Long-term | 3,895 | 2,400 | -1,495 |
Borrowings | |||
Other | 5,849 | 5,553 | -295 |
Total Non-current | 9,744 | 7,953 | -1,790 |
Liabilities | |||
Total Liabilities | 78,483 | 80,555 | +2,072 |
Total Net Assets | 86,371 | 102,147 | +15,776 |
Total Liabilities and | 164,854 | 182,703 | +17,849 |
Net Assets |
8
FY ending 03/2025: Overview of Full-year Plan
Order Analysis
Electric Power/Water Supply and Sewage
General Industry
Electronics Industry
Performance Products | |
+0.5 | +0.8 |
155.0 | |
+10.0 | |
144.4 | -0.8 |
+10.5 billion YoY
143.4
03/2024 Actual | 03/2025 Plan |
[Orders]
The plan assumes the receipt of orders for large
projects in Japan for cutting-edge semiconductors. General Industry and Electric Power/Water Supply and
Sewage are expected to maintain a high level of orders. For Performance Products, a review of the
business structure will be carried out aimed at improving profitability in the Food Products area, and
unprofitable business will be reorganized.
Sales Analysis
Electric Power/Water Supply and Sewage
General Industry
Electronics Industry
Performance Products
+1.3 | ||
+2.5 | 155.0 | |
+1.6 | ||
150.3 | -0.8 | |
149.3 | ||
+4.6 billion YoY |
03/2024 Actual | 03/2025 Plan |
[Sales]
The plan calls for progress in construction for large-
scale projects in the Electronics Industry, General Industry, and Electric Power/Water Supply and Sewage
businesses, and for higher sales resulting from factors including expansion of Service Solutions. For
Performance Products, a review of the business structure will be carried out aimed at improving
profitability in the Food Products area, and unprofitable business will be reorganized.
(Billions of yen)
Operating Profit Analysis
Expansion of Sales
Improvement in Profit Margin
Increase in SG&A
+0.8 | ||
+1.3 | ||
22.5 | -1.7 | 23.0 |
+0.4 billion YoY |
03/2024 Actual | 03/2025 Plan |
[Operating Profit]
The effects of growing sales in the Water Treatment
Engineering Unit, including Plant and Service Solutions, will cover rising personnel expenses and other SG&A
expenses. Some improvement in the profit margin is expected.
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FY ending 03/2025: Consolidated Statement of Income (Plan)
FY ended 03/2024 | FY ending 03/2025 | 1st Half | Full-year | |||||
(Millions of yen) | ||||||||
1st Half | Full-year | |||||||
1st Half Plan | Full-year Plan | Comparison | Comparison | |||||
Actual | Actual | |||||||
Orders Received | 76,150 | 144,468 | 87,000 | 155,000 | +10,850 | +10,532 | ||
(+14.2%) | (+7.3%) | |||||||
Net Sales | 65,469 | 150,356 | 70,000 | 155,000 | +4,531 | +4,644 | ||
(+6.9%) | (+3.1%) | |||||||
Gross Profit | 18,129 | 43,841 | 19,500 | 46,000 | +1,371 | +2,159 | ||
(+7.6%) | (+4.9%) | |||||||
(%) | 27.7% | 29.2% | 27.9% | 29.7% | +0.2 pt | +0.5 pt | ||
SG&A | 10,274 | 21,297 | 11,000 | 23,000 | +726 | +1,703 | ||
(+7.1%) | (+8.0%) | |||||||
Operating Profit | 7,855 | 22,544 | 8,500 | 23,000 | +645 | +456 | ||
(+8.2%) | (+2.0%) | |||||||
(%) | 12.0% | 15.0% | 12.1% | 14.8% | +0.1 pt | -0.2 pt | ||
Profit Attributable | 5,538 | 17,310 | 5,500 | 16,100 | -38 | -1,210 | ||
to Owners of Parent | (-0.7%) | (-7.0%) | ||||||
ROE (%) | - | 18.4% | - | 15.0% | - | -3.4 pt | ||
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ORGANO Corporation published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2024 10:13:53 UTC.