SHIMAMURA Co.,Ltd., First Half Ordinary Profit Unexpectedly Revised Upward by 4%

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Mon Sep 30, 2024 3:00 pm JST Earnings

8227 SHIMAMURA Co.,Ltd. 【J-GAAP】

Earnings Report

SHIMAMURA Co.,Ltd. <8227> [TSE-P] announced its financial results after the market closed on September 30th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 4.1% from the same period last year, reaching 31.9 billion yen, resulting in an increase in profits compared to the previous forecast of a 4.2% decrease.

The progress rate against the 57.6 billion yen full-year plan was 55.4%, almost the same as the five-year average of 52.5%.

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 September to February period (second half) is expected to decrease by 1.1% from the same period last year to 25.7 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit grew by 5.3% from the same period last year, reaching 16.8 billion yen. The operating profit margin improved from 9.8% in the same period last year to 10.1%.

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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	301,348	28,919	29,680	20,620	280.5	54.6	Oct 3, 2022	J-GAAP
Mar - Aug, 2023	316,838	30,173	30,725	20,954	285.1	54.2	Oct 2, 2023	J-GAAP
Mar - Aug, 2024	330,595	31,404	31,987	22,100	300.7	55.4	Sep 30, 2024	J-GAAP
YoY	+4.3%	+4.1%	+4.1%	+5.5%	+5.5%

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	327,593	28,774	29,438	20,204	274.9	95	Apr 1, 2024	J-GAAP
Mar - Aug, 2024 Results	330,595	31,404	31,987	22,100	300.7	95	Sep 30, 2024	J-GAAP
Revision Rate	+0.9%	+9.1%	+8.7%	+9.4%	+9.4%

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	318,253	25,135	25,991	19,130	260.3	75	Apr 1, 2024	J-GAAP
Sep - Feb, 2024 Guidance	329,027	24,958	25,707	18,094	246.2	95	Sep 30, 2024	J-GAAP
YoY	+3.4%	-0.7%	-1.1%	-5.4%	-5.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	616,125	53,302	54,383	38,021	517.3	130	Apr 3, 2023	J-GAAP
Feb, 2024	635,091	55,308	56,716	40,084	545.4	140	Apr 1, 2024	J-GAAP
Feb, 2025 Guidance	659,622	56,362	57,694	40,194	546.8	190	Apr 1, 2024	J-GAAP
YoY	+3.9%	+1.9%	+1.7%	+0.3%	+0.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	159,733	15,640	15,984	10,925	148.6	9.8	Oct 2, 2023	J-GAAP
Sep - Nov, 2023	162,822	15,476	16,065	12,123	164.9	9.5	Dec 25, 2023	J-GAAP
Dec - Feb, 2023	155,431	9,659	9,926	7,007	95.3	6.2	Apr 1, 2024	J-GAAP
Mar - May, 2024	164,466	14,579	15,161	10,435	142.0	8.9	Jun 24, 2024	J-GAAP
Jun - Aug, 2024	166,129	16,825	16,826	11,665	158.7	10.1	Sep 30, 2024	J-GAAP
YoY	+4.0%	+7.6%	+5.3%	+6.8%	+6.8%