VALUE GOLF Inc., First Half Ordinary Profit Increases by 83%, 2Q (May-July) Ordinary Profit Increases by 42%

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Fri Sep 13, 2024 4:00 pm JST Earnings

3931 VALUE GOLF Inc. 【J-GAAP】

Earnings Report

VALUE GOLF Inc. <3931> [TSE-G] announced its financial results after the market closed on September 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending January 2025 (February to July) expanded to 53 million yen, an increase of 82.8% compared to the same period last year. However, this progress accounts for 36.1% of the full-year plan of 147 million yen, also falling below the five-year average of 44.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the August to January period (second half) is expected to surge by 4.7 times that of the same period last year, reaching 94 million yen.

In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit increased by 42.1% from the same period last year, reaching 27 million yen. The operating profit margin improved from 2.5% in the same period last year to 2.9%.

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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, 2022	2,305	153	127	84	46.5	60.8	Sep 14, 2022	J-GAAP
Feb - Jul, 2023	1,789	35	29	10	6.0	59.2	Sep 14, 2023	J-GAAP
Feb - Jul, 2024	2,077	62	53	17	9.9	36.1	Sep 13, 2024	J-GAAP
YoY	+16.1%	+77.1%	+82.8%	+70.0%	+65.1%

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	ー	ー	ー	ー	－	0	Mar 14, 2024	J-GAAP
Feb - Jul, 2024 Results	2,077	62	53	17	9.9	0	Sep 13, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	1,867	26	20	12	6.9	25	Mar 14, 2024	J-GAAP
Aug - Jan, 2024 Guidance	2,023	93	94	90	49.8	25	Sep 13, 2024	J-GAAP
YoY	+8.4%	+257.7%	+370.0%	+650.0%	+627.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	4,443	237	209	114	63.6	20	Mar 14, 2023	J-GAAP
Jan, 2024	3,656	61	49	22	12.6	25	Mar 14, 2024	J-GAAP
Jan, 2025 Guidance	4,100	155	147	107	59.2	25	Mar 14, 2024	J-GAAP
YoY	+12.1%	+154.1%	+200.0%	+386.4%	+371.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	923	23	19	10	6.0	2.5	Sep 14, 2023	J-GAAP
Aug - Oct, 2023	980	3	-3	-9	-8.6	0.3	Dec 14, 2023	J-GAAP
Nov - Jan, 2023	887	23	23	21	12.0	2.6	Mar 14, 2024	J-GAAP
Feb - Apr, 2024	1,008	31	26	11	6.1	3.1	Jun 14, 2024	J-GAAP
May - Jul, 2024	1,069	31	27	6	3.5	2.9	Sep 13, 2024	J-GAAP
YoY	+15.8%	+34.8%	+42.1%	-40.0%	-41.7%