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OKUWA CO., LTD., First Half Ordinary Profit Decreases by 62%, June-Augus Ordinary Profit Decreases by 59%

Tue Oct 1, 2024 1:00 pm JST Earnings

8217 OKUWA CO., LTD. 【J-GAAP】

Earnings Report

OKUWA CO., LTD. <8217> [TSE-P] announced its financial results in the afternoon session on October 1st (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) significantly dropped by 61.8% from the same period last year to 313 million yen. The progress rate against the 2.5 billion yen full-year plan was 12.5%, also falling below the five-year average of 37.9%.

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 4.0% from the same period last year to 2.18 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit significantly dropped to 307 million yen, a 59.3% decrease compared to the same period last year. The operating profit margin worsened from 1.1% in the same period last year to 0.4%.

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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 120,653 1,026 1,179 635 14.5 37.5 Oct 3, 2022 J-GAAP
Mar - Aug, 2023 121,520 706 819 399 9.1 26.4 Oct 3, 2023 J-GAAP
Mar - Aug, 2024 122,558 246 313 87 2.0 12.5 Oct 1, 2024 J-GAAP
YoY +0.9% -65.2% -61.8% -78.2% -77.9%

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 122,550 245 310 85 2.0 13 Sep 26, 2024 J-GAAP
Mar - Aug, 2024 Results 122,558 246 313 87 2.0 13 Oct 1, 2024 J-GAAP
Revision Rate +0.0% +0.4% +1.0% +2.4% 0.0%

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 125,858 2,182 2,279 601 13.7 13 Apr 2, 2024 J-GAAP
Sep - Feb, 2024 Guidance 131,442 2,204 2,187 463 11.1 13 Oct 1, 2024 J-GAAP
YoY +4.4% +1.0% -4.0% -23.0% -19.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 246,877 2,927 3,148 928 21.2 26 Apr 3, 2023 J-GAAP
Feb, 2024 247,378 2,888 3,098 1,000 22.8 26 Apr 2, 2024 J-GAAP
Feb, 2025 Guidance 254,000 2,450 2,500 550 13.2 26 Sep 26, 2024 J-GAAP
YoY +2.7% -15.2% -19.3% -45.0% -42.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 63,282 700 755 444 10.1 1.1 Oct 3, 2023 J-GAAP
Sep - Nov, 2023 61,116 487 508 263 6.0 0.8 Dec 27, 2023 J-GAAP
Dec - Feb, 2023 64,742 1,695 1,771 338 7.7 2.6 Apr 2, 2024 J-GAAP
Mar - May, 2024 58,697 -38 6 -56 -1.3 -0.1 Jun 27, 2024 J-GAAP
Jun - Aug, 2024 63,861 284 307 143 3.3 0.4 Oct 1, 2024 J-GAAP
YoY +0.9% -59.4% -59.3% -67.8% -67.4%

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