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

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 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%

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