ASAHI CO.,LTD., First Half Ordinary Profit Increases by 11%, 2Q (June-August) Ordinary Profit Increases by 86%

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Tue Sep 24, 2024 3:00 pm JST Earnings

3333 ASAHI CO.,LTD. 【J-GAAP】

Earnings Report

ASAHI CO.,LTD. <3333> [TSE-P] announced its financial results after the market closed on September 24th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 11.0% from the same period last year, reaching 4.84 billion yen. This progress accounts for 83.5% of the full-year plan of 5.8 billion yen, it was below the five-year average of 87.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the September to February period (second half) is expected to grow by 15.4% from the same period last year, reaching 957 million yen.

In the most recent three-month period, from June to August (2Q), the ordinary profit increased by 85.8% from the same period last year, reaching 1.19 billion yen. The operating profit margin improved from 3.2% in the same period last year to 5.5%.

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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
Mar - Aug, 2022	41,725	4,263	4,301	2,885	110.5	80.9	Sep 26, 2022	J-GAAP
Mar - Aug, 2023	43,763	4,218	4,363	2,920	111.8	84.0	Sep 25, 2023	J-GAAP
Mar - Aug, 2024	46,420	4,743	4,843	3,265	125.3	83.5	Sep 24, 2024	J-GAAP
YoY	+6.1%	+12.4%	+11.0%	+11.8%	+12.0%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	46,000	4,400	4,500	2,960	113.7	25	Apr 1, 2024	J-GAAP
Mar - Aug, 2024 Results	46,420	4,743	4,843	3,265	125.3	25	Sep 24, 2024	J-GAAP
Revision Rate	+0.9%	+7.8%	+7.6%	+10.3%	+10.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	34,313	694	829	193	7.4	22.50	Apr 1, 2024	J-GAAP
Sep - Feb, 2024 Guidance	36,080	757	957	415	15.9	25	Sep 24, 2024	J-GAAP
YoY	+5.1%	+9.1%	+15.4%	+115.0%	+115.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	74,712	5,127	5,316	3,366	128.9	28	Apr 3, 2023	J-GAAP
Feb, 2024	78,076	4,912	5,192	3,113	119.2	45	Apr 1, 2024	J-GAAP
Feb, 2025 Guidance	82,500	5,500	5,800	3,680	141.3	50	Apr 1, 2024	J-GAAP
YoY	+5.7%	+12.0%	+11.7%	+18.2%	+18.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	17,738	574	643	388	14.9	3.2	Sep 25, 2023	J-GAAP
Sep - Nov, 2023	17,931	705	779	458	17.5	3.9	Dec 25, 2023	J-GAAP
Dec - Feb, 2023	16,382	-11	50	-265	-10.2	-0.1	Apr 1, 2024	J-GAAP
Mar - May, 2024	26,934	3,667	3,648	2,486	95.4	13.6	Jun 24, 2024	J-GAAP
Jun - Aug, 2024	19,486	1,076	1,195	779	29.9	5.5	Sep 24, 2024	J-GAAP
YoY	+9.9%	+87.5%	+85.8%	+100.8%	+101.2%