UPCON CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 29%

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Thu Sep 12, 2024 3:30 pm JST Earnings

5075 UPCON CORPORATION 【J-GAAP】

Earnings Report

UPCON CORPORATION <5075> [NSE-N] announced its financial results after the market closed on September 12th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending January 2025 (February to July) surged by 3.1 times that of the same period last year, reaching 208 million yen, exceeded the previous forecast of 84 million yen.

Additionally, the full-year ordinary profit has been revised upward by 28.9%, from the previous forecast of 166 million yen to 214 million yen (compared to 94 million yen in the previous period), increasing the growth rate from 76.6% to 2.3 times.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the August to January period (second half) is expected to significant drop by 76.9% from the same period last year to 6 million yen.

At the same time, the current fiscal year remains undecided

In the most recent three-month period, from May to July (2Q), the ordinary profit/loss turned to a loss of 2 million yen (compared to a profit of 9 million yen in the same period last year). The operating profit/loss margin drastically worsened from 3.1% in the same period last year to -4.3%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Feb - Jul, 2023	488	65	68	47	34.3	72.3	Sep 13, 2023	J-GAAP
Feb - Jul, 2024	601	204	208	138	98.7	97.2	Sep 12, 2024	J-GAAP
YoY	+23.2%	+213.8%	+205.9%	+193.6%	+188.0%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb - Jul, 2024 Guidance	467	82	84	51	36.3	－	Mar 15, 2024	J-GAAP
Feb - Jul, 2024 Results	601	204	208	138	98.7	0	Sep 12, 2024	J-GAAP
Revision Rate	+28.7%	+148.8%	+147.6%	+170.6%	+171.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2025 Prev	965	164	166	101	71.9	－	Mar 15, 2024	J-GAAP
Jan, 2025 New	1,050	210	214	128	91.2	－	Sep 12, 2024	J-GAAP
Revision Rate	+8.8%	+28.0%	+28.9%	+26.7%	+26.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2023	364	24	26	20	14.4	10	Mar 15, 2024	J-GAAP
Aug - Jan, 2024 Guidance	449	6	6	-10	-7.1	－	Sep 12, 2024	J-GAAP
YoY	+23.4%	-75.0%	-76.9%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	917	168	178	116	88.8	15	Mar 15, 2023	J-GAAP
Jan, 2024	852	89	94	67	48.2	10	Mar 15, 2024	J-GAAP
Jan, 2025 Guidance	1,050	210	214	128	91.2	－	Sep 12, 2024	J-GAAP
YoY	+23.2%	+136.0%	+127.7%	+91.0%	+89.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	193	6	9	5	3.6	3.1	Sep 13, 2023	J-GAAP
Aug - Oct, 2023	141	-22	-23	-12	-8.6	-15.6	Dec 13, 2023	J-GAAP
Nov - Jan, 2023	223	46	49	32	23.0	20.6	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	415	212	210	139	99.2	51.1	Jun 12, 2024	J-GAAP
May - Jul, 2024	186	-8	-2	-1	-0.7	-4.3	Sep 12, 2024	J-GAAP
YoY	-3.6%	－	－	－	－