こうした状況の下、同社グループは「中期経営計画『Imagination 2025』」の最終年度として、「成長戦略」と「経営基盤強化戦略」の各戦略を確実に成果につなげることを目指す。2025年3月期通期の連結業績予想については、期初の業績予想を維持し、売上高14,000百万円（前期比2.4%減）、営業利益1,300百万円（同11.9%減）、経常利益1,400百万円（同11.0%減）、親会社株主に帰属する当期純利益880百万円（同20.2%減）としている。売上高については、Anton Paarとのライセンス契約の一時金を織り込むものの、前期好調だった国内半導体業界向けや中国・韓国の電気自動車用の電池関連業界向けが一服すること等により微減を見込む。利益については、原材料費や人件費の上昇に伴う利益率の低下を織り込んでいる。同社では、2023年8月に中期経営計画の最終年度（2025年3月期）の計画値を上方修正し、2024年3月期にはすべての項目で計画値を1年前倒しで達成している。2025年3月期は減収減益の業績予想ながら、中期経営計画の計画値は達成する見込みだ。ただ、同社が発表する期初の業績予想は慎重で保守的な傾向が強いことに十分留意する必要があり、事実、中間期における売上高・営業利益の進捗率は例年に比べて高、設備投資関連事業のため期末の売上高が多いことを勘案すると、予想を上回って着地する可能性が大きいと弊社では見ている。■Oval <7727> Future Outlook
● Performance Outlook for the Fiscal Year Ending March 2025
Regarding the future outlook, there is a situation that cannot be underestimated concerning the economic outlook due to global price increases and domestic demand deterioration caused by financial tightening, along with rising resource and Energy prices due to the prolonged situation between Russia and Ukraine, and the effects of inflation caused by the depreciation of the yen. Furthermore, there are concerns that the capital investments of client companies, which significantly impact the group's revenue, may be postponed in light of soaring material prices and construction costs, following a brief recovery from the COVID-19 pandemic, indicating that a tough business environment is expected to continue.
Under these circumstances, the group aims to steadily translate its "Mid-term Management Plan 'Imagination 2025'" into tangible results, focusing on both "Growth Strategy" and "Management Base Strengthening Strategy" as it enters the final year of the plan. For the consolidated performance forecast for the fiscal year ending March 2025, it maintains the initial performance estimates with revenue expected at 14,000 million yen (down 2.4% from the previous year), operating profit at 1,300 million yen (down 11.9% from the previous year), ordinary profit at 1,400 million yen (down 11.0% from the previous year), and net income attributable to Shareholders of the parent company at 880 million yen (down 20.2% from the previous year). While the revenue forecast incorporates one-time licensing income from Anton Paar, a slight decrease is expected due to the cooling down of the previously robust domestic Semiconductors industry and the Battery-related industry for electric vehicles in China and South Korea. Profit forecasts reflect a decline in profit margins attributed to rising raw material and labor costs. In August 2023, the company upwardly revised the planned values for the final year of the mid-term management plan (fiscal year ending March 2025), and all items for the fiscal year ending March 2024 were achieved one year ahead of schedule. Although the fiscal year ending March 2025 is forecasted to have lower revenue and profits, it is expected that the planned values of the mid-term management plan will be achieved. However, it is important to note that the company's initial performance forecasts tend to be cautious and conservative; in fact, the progress rates of revenue and operating profit in the interim periods are higher than in previous years. Considering that the end-of-year revenue will be high due to capital investment-related businesses, the company believes there is a significant likelihood of exceeding projections.
(Written by FISCO guest analyst Nozomi Kokushige).
