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Ushio Inc. Net Profit Slides 30% Despite Operating Growth

Tokyo-based lighting specialist Ushio Inc. reported a sharp decline in net profit for the nine months ending December 31, 2024, even as the company saw a modest improvement in its core operating performance. The group’s bottom line fell to ¥4.04 billion, down from ¥5.75 billion a year earlier, reflecting broader pressures on pretax income.

Ushio Inc. Net Profit Slides 30% Despite Operating Growth

The company’s revenue remained largely flat, dipping slightly to ¥126.95 billion from ¥128.10 billion in the previous period. This marginal top-line contraction suggests a stabilizing demand environment, though the company struggled to translate core activity into final earnings. According to the latest financial filing, the results were prepared in accordance with Japanese accounting standards.

Shifting Profitability Metrics

In a display of operational resilience, Ushio's operating profit actually rose to ¥7.73 billion, up from ¥7.40 billion. This gain highlights the company's ability to manage costs at the factory level. However, the momentum failed to reach the pretax level, which slumped to ¥8.88 billion from ¥10.46 billion, indicating significant headwinds from non-operating factors.

The decline in net income significantly impacted shareholder returns. Earnings per share for the period dropped to ¥47.25, compared to ¥58.22 in the prior year.

    • Revenue: ¥126.95 billion
    • Operating Profit: ¥7.73 billion
    • Pretax Profit: ¥8.88 billion
  • Net Profit: ¥4.04 billion
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