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SEKICHU CO.,LTD., First Half Ordinary Profit Decreases by 29%, June-Augus Ordinary Profit Decreases by 34%

Wed Sep 25, 2024 4:00 pm JST Earnings

9976 SEKICHU CO.,LTD. 【J-GAAP】

Earnings Report

SEKICHU CO.,LTD. <9976> [TSE-S] announced its financial results after the market closed on September 25th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 29.1% from the same period last year to 453 million yen. This progress accounts for 82.4% of the full-year plan of 550 million yen, below the five-year average of 91.2%.

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 drop by 38.2% from the same period last year to 97 million yen.

In the most recent three-month period, from June to August (2Q), the ordinary profit dropped to 170 million yen, a 33.9% decrease compared to the same period last year. The operating profit margin worsened from 3.1% in the same period last year to 1.9%.

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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
Mar - Aug, 2022 15,557 758 793 528 98.0 98.3 Sep 29, 2022 J-GAAP
Mar - Aug, 2023 15,391 606 639 441 82.0 80.3 Sep 28, 2023 J-GAAP
Mar - Aug, 2024 15,653 426 453 351 65.3 82.4 Sep 25, 2024 J-GAAP
YoY +1.7% -29.7% -29.1% -20.4% -20.4%

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 15,500 450 500 350 65.0 0 Mar 28, 2024 J-GAAP
Mar - Aug, 2024 Results 15,653 426 453 351 65.3 0 Sep 25, 2024 J-GAAP
Revision Rate +1.0% -5.3% -9.4% +0.3% +0.5%

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 14,990 124 157 69 12.8 30 Mar 28, 2024 J-GAAP
Sep - Feb, 2024 Guidance 14,347 74 97 -1 -0.2 20 Sep 25, 2024 J-GAAP
YoY -4.3% -40.3% -38.2% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 30,943 751 807 477 88.7 30 Mar 30, 2023 J-GAAP
Feb, 2024 30,381 730 796 510 94.9 30 Mar 28, 2024 J-GAAP
Feb, 2025 Guidance 30,000 500 550 350 64.1 20 Mar 28, 2024 J-GAAP
YoY -1.3% -31.5% -30.9% -31.4% -32.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 7,762 239 257 172 32.0 3.1 Sep 28, 2023 J-GAAP
Sep - Nov, 2023 7,254 74 89 59 11.0 1.0 Dec 28, 2023 J-GAAP
Dec - Feb, 2023 7,736 50 68 10 1.9 0.6 Mar 28, 2024 J-GAAP
Mar - May, 2024 7,784 275 283 200 37.2 3.5 Jun 26, 2024 J-GAAP
Jun - Aug, 2024 7,869 151 170 151 28.1 1.9 Sep 25, 2024 J-GAAP
YoY +1.4% -36.8% -33.9% -12.2% -12.2%

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