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RECENT EARNINGS

Investor Relations

Recent Earnings

FY Mar 2024 Results

Both sales and profits exceeded revised forecasts, marking consecutive increases in sales and profits and a new record high

  • In addition to an increase in maintenance sales due to an increase in the number of maintenance contracts, repairs and renewals sales increased significantly.
  • Modernization shipments and unit prices increased significantly, and the operating profit margin improved by 1.8 percentage points YoY to 16.2% as SG&A expenses remained under control.
  • Net profit attributable to the parent company increased significantly by 43.2% YoY, partly due to tax benefits from wage increases.

    • (millions of yen, yen, %)

    Fiscal Year ended Fiscal Year ended YoY change
    March 2023 March 2024
    Amount % of sales Amount % of sales Amount %
    Net sales 34,907 100.0 42,216 100.0 7,309 20.9
    Operating profit 5,010 14.4 6,821 16.2 1,810 36.1
    Ordinary profit 5,100 14.6 6,851 16.2 1,750 34.3
    Profit attributable to
    owners of parent    		 3,153 9.0 4,515 10.7 1,362 43.2
    (Depreciation) 1,207 3.5 1,403 3.3 195 16.2
    (Amortization) 266 0.8 269 0.6 3 1.2
    EBITDA 6,485 18.6 8,494 20.1 2,008 31.0
    EPS 35.47 -- 50.71 -- 15.24 43.0

    Continued strong modernization sales and accelerated growth in repair sales resulted in a 20.9% increase in net sales YoY

  • Maintenance sales grew steadily due to an increase in the number of maintenance contracts.
  • Repair services showed improvement from delivery delays due to the shortage of semiconductors, and net sales of maintenance and repair services accelerated the growth.
  • Modernization needs remained strong, and both volume and unit prices increased.
  • As a result, net sales increased by 20.9% almost entirely though organic growth.

    • (millions of yen, yen, %)

    Fiscal Year ended Fiscal Year ended YoY change
    March 2023 March 2024
    Amount % of sales Amount % of sales Amount %
    Maintenance & Repair 23,178 66.4 26,531 62.8 3,352 14.5
    Modernization 10,468 30.0 14,255 33.8 3,787 36.2
    Other 1,259 3.6 1,429 3.4 169 13.5
    Total 34,907 100.0 42,216 100.0 7,309 20.9

    The First Independent Maintenance Company to Surpass 100,000 Mark

  • The number of maintenance contracts in Japan was 100,230 units. The net increase was 11,600 units*, and organic growth exceeded 10,000 units for the first time.
  • Against the backdrop of robust demand, the number of units renewed reached a cumulative total of 1,930 units, significantly exceeding the figure for the same period of the previous year (1,530 units), JES Innovation Center Kansai (JIK) is now operating on schedule.
  • The number of locations increased to 141 as of May 1. Established branches and sales offices in Niigata and Fukushima, covering almost all areas of Honshu and entered Okinawa. The Group continues to reinforce work force in strategic areas such as engineering and sales.
    • * Includes 650 units of Emic Co., Ltd. and 890 units of Eledoc Okinawa Co., Ltd., which the Company completed the acquisition of on September 1, 2023 and February 8, 2024.

    (units,person)

    FY Ended FY Ended FY Ended FY Ended Fiscal Year ended
    March 2020 March 2021 March 2022 March 2023 March 2024
    Actual Actual Actual Actual Actual （Change YtD)
    Maintenance contracts 54,800 67,500 79,000 88,630 100,230 +11,600
    Modernization (cumlative) 820 920 1,150 1,530 1,930 +400
    Parking equipments -- -- 18,830 22,050 24,660 +2,610
    No. of offices 78 101 124 132 141 +9
    No. of Employees 1,234 1,398 1,618 1,766 1,868 +102
    Technical personnel 781 881 1,003 1,096 1,159 +63
    Sales personnel 135 156 195 218 248 +30

    Investor Relations