On the 9th, Quanzhou Electric Co., Ltd. (9824) announced its consolidated financial results for the fiscal year ending October 2024. Revenue increased by 9.0% compared to the previous period to 136.153 billion yen, operating profit rose by 23.7% to 10.349 billion yen, ordinary profit increased by 22.7% to 10.761 billion yen, and net income attributable to shareholders of the parent company grew by 28.0% to 7.578 billion yen.
In the wire and cable industry related to the company group, the price of copper, the main material for wires, rose by 14.4%, with an average of 1,409 thousand yen per ton compared to the previous average of 1,232 thousand yen (copper price trend: beginning of the period 1,270 thousand yen per ton, peak 1,750 thousand yen (May 2024), low 1,230 thousand yen (December 2023), end of the period 1,490 thousand yen). Additionally, the shipment volume for Construction and electrical sales remained largely flat compared to the previous period. Under such circumstances, the company group actively developed sales initiatives, including promoting proposal-based sales, strengthening the delivery system, acquiring new customers, deepening relationships with existing customers, and expanding sales of new products.
This year's business performance showed some stagnation in demand for semiconductor manufacturing equipment and machine tools; however, an increase in sales for Automobiles and Construction and electrical sales led to increased revenue and profits, marking the third consecutive period of record highs in both revenue and all profits.
The consolidated performance forecast for the fiscal year ending October 2025 anticipates revenue to increase by 2.8% compared to the previous period to 140 billion yen, operating profit to rise by 6.3% to 11 billion yen, ordinary profit to grow by 4.1% to 11.2 billion yen, and net income attributable to shareholders of the parent company to increase by 1.6% to 7.7 billion yen.