EARLY AGE CO., Ltd., The Current Fiscal Year Ordinary Profit Revised Upward by 61%, Highest in Two Terms, Dividend Revised Upward by 3 yen

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Tue Sep 10, 2024 3:00 pm JST Earnings

3248 EARLY AGE CO., Ltd. 【J-GAAP】

Earnings Report

EARLY AGE CO., Ltd. <3248> [TSE-S] announced its financial results after the market closed on September 10th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending October 2024 (November 2023 to July 2024) expanded to 767 million yen, an increase of 93.2% compared to the same period last year.

The full-year consolidated ordinary profit has been revised upward by 60.6%, from the previous forecast of 500 million yen to 803 million yen (compared to 477 million yen in the previous period), increasing the growth rate from 4.8% to 68.3%, record profits reach new high for the first time in two years.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the May to October period (second half) has been revised upward from an expected loss of 209 million yen to 94 million yen (compared to 178 million yen in the same period of the previous year), turning to a profit.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 33 yen to 36 yen (compared to 33 yen in the previous period)

In the most recent three-month period, from May to July (3Q), the consolidated ordinary profit dropped to 58 million yen, a 40.8% decrease compared to the same period last year. The operating profit margin decreased from 13.0% in the same period last year to 9.6%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Nov - Jul, 2021	2,991	513	460	304	95.7	80.7	Sep 9, 2022	J-GAAP
Nov - Jul, 2022	2,742	449	397	264	83.3	83.2	Sep 8, 2023	J-GAAP
Nov - Jul, 2023	4,022	824	767	503	158.3	95.5	Sep 10, 2024	J-GAAP
YoY	+46.7%	+83.5%	+93.2%	+90.5%	+90.0%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2024 Prev	969	-178	-209	-134	-42.1	18	Jun 11, 2024	J-GAAP
May - Oct, 2024 New	1,479	132	94	59	18.6	21	Sep 10, 2024	J-GAAP
Revision Rate	+52.6%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2024 Prev	4,200	570	500	332	104.4	33	Dec 15, 2023	J-GAAP
Oct, 2024 New	4,710	880	803	525	165.1	36	Sep 10, 2024	J-GAAP
Revision Rate	+12.1%	+54.4%	+60.6%	+58.1%	+58.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2023	1,585	214	178	126	39.7	18	Dec 15, 2023	J-GAAP
May - Oct, 2024 Guidance	1,479	132	94	59	18.6	21	Sep 10, 2024	J-GAAP
YoY	-6.7%	-38.3%	-47.2%	-53.2%	-53.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2022	3,699	628	570	375	118.1	31	Dec 15, 2022	J-GAAP
Oct, 2023	3,440	548	477	326	102.8	33	Dec 15, 2023	J-GAAP
Oct, 2024 Guidance	4,710	880	803	525	165.1	36	Sep 10, 2024	J-GAAP
YoY	+36.9%	+60.6%	+68.3%	+61.0%	+60.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	887	115	98	64	20.2	13.0	Sep 8, 2023	J-GAAP
Aug - Oct, 2023	698	99	80	62	19.6	14.2	Dec 15, 2023	J-GAAP
Nov - Jan, 2023	682	92	74	41	13.1	13.5	Mar 8, 2024	J-GAAP
Feb - Apr, 2024	2,549	656	635	425	133.9	25.7	Jun 11, 2024	J-GAAP
May - Jul, 2024	791	76	58	37	11.6	9.6	Sep 10, 2024	J-GAAP
YoY	-10.8%	-33.9%	-40.8%	-42.2%	-42.4%