ORVIS CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 26%, Dividend Revised Upward by 12 yen

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Fri Sep 13, 2024 3:00 pm JST Earnings

7827 ORVIS CORPORATION 【J-GAAP】

Earnings Report

ORVIS CORPORATION <7827> [TSE-S] announced its financial results after the market closed on September 13th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending October 2024 (November 2023 to July 2024) decreased by 18.0% from the previous period to 452 million yen.

However, the full-year consolidated ordinary profit has been revised upward by 25.9%, from the previous forecast of 456 million yen to 574 million yen.

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) is expected to increase by 80.8%, from the previous forecast of 146 million yen to 264 million yen.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 51 yen to 63 yen (compared to 66.6 yen in the previous period)

In the most recent three-month period, from May to July (3Q), the consolidated ordinary profit decreased to 142 million yen, a 19.3% decrease compared to the same period last year. The operating profit margin worsened from 6.4% in the same period last year to 5.4%.

Note: Since the current fiscal year, the company has transitioned to consolidated financial statements.

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	8,615	602	630	429	245.4	79.5	Sep 13, 2022	J-GAAP
Nov - Jul, 2022	9,094	543	551	620	353.3	81.9	Sep 12, 2023	J-GAAP
Nov - Jul, 2023	8,588	449	452	345	196.0	78.7	Sep 13, 2024	J-GAAP
YoY	-5.6%	-17.3%	-18.0%	-44.4%	-44.5%

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	5,345	154	146	84	47.6	51	Jun 14, 2024	J-GAAP
May - Oct, 2024 New	5,429	271	264	169	95.7	63	Sep 13, 2024	J-GAAP
Revision Rate	+1.6%	+76.0%	+80.8%	+101.2%	+101.2%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2024 Prev	11,253	458	456	338	191.4	51	Apr 15, 2024	J-GAAP
Oct, 2024 New	11,337	575	574	423	239.6	63	Sep 13, 2024	J-GAAP
Revision Rate	+0.7%	+25.5%	+25.9%	+25.1%	+25.1%

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	5,331	308	298	272	155.0	66.60	Dec 15, 2023	J-GAAP
May - Oct, 2024 Guidance	5,429	271	264	169	95.7	63	Sep 13, 2024	J-GAAP
YoY	+1.8%	-12.0%	-11.4%	-37.9%	-38.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2022	11,338	770	792	541	309.5	40	Dec 13, 2022	J-GAAP
Oct, 2023	11,596	670	673	759	432.5	66.60	Dec 15, 2023	J-GAAP
Oct, 2024 Guidance	11,337	575	574	423	239.6	63	Sep 13, 2024	J-GAAP
YoY	-2.2%	-14.2%	-14.7%	-44.3%	-44.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	2,829	181	176	133	75.8	6.4	Sep 12, 2023	J-GAAP
Aug - Oct, 2023	2,502	127	122	139	79.2	5.1	Dec 15, 2023	J-GAAP
Nov - Jan, 2023	2,455	113	108	72	41.1	4.6	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	3,453	191	202	182	103.6	5.5	Jun 14, 2024	J-GAAP
May - Jul, 2024	2,680	145	142	91	51.7	5.4	Sep 13, 2024	J-GAAP
YoY	-5.3%	-19.9%	-19.3%	-31.6%	-31.8%