ONWARD HOLDINGS Co., Ltd., First Half Ordinary Profit Increases by 18%, June-Augus Ordinary Profit Turns to Profit

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Thu Oct 3, 2024 3:00 pm JST Earnings

8016 ONWARD HOLDINGS Co., Ltd. 【J-GAAP】

Earnings Report

ONWARD HOLDINGS Co., Ltd. <8016> [TSE-P] announced its financial results after the market closed on October 3rd (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) increased by 18.2% from the same period last year, reaching 5.21 billion yen. However, The progress rate against the 12.2 billion yen full-year plan was 42.7%, almost the same as the same period of the previous year of 43.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to grow by 22.3% from the same period last year, reaching 6.98 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit/loss turned to a profit of profit of 18 million yen (compared to a loss of 449 million yen in the same period last year). The operating profit/loss margin improved from -0.9% 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	82,166	193	654	476	3.5	12.3	Oct 6, 2022	J-GAAP
Mar - Aug, 2023	90,411	5,022	4,412	2,862	21.1	43.6	Oct 5, 2023	J-GAAP
Mar - Aug, 2024	95,102	5,255	5,213	4,108	30.3	42.7	Oct 3, 2024	J-GAAP
YoY	+5.2%	+4.6%	+18.2%	+43.5%	+43.5%

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	94,900	5,500	5,500	4,050	29.8	－	Jul 4, 2024	J-GAAP
Mar - Aug, 2024 Results	95,102	5,255	5,213	4,108	30.3	－	Oct 3, 2024	J-GAAP
Revision Rate	+0.2%	-4.5%	-5.2%	+1.4%	+1.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	200,000	12,500	12,200	8,250	60.8	24	Jul 4, 2024	J-GAAP
Feb, 2025 New	210,000	12,500	12,200	8,250	60.8	24	Oct 3, 2024	J-GAAP
Revision Rate	+5.0%	0.0%	0.0%	0.0%	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	99,218	6,238	5,714	3,749	27.6	20	Apr 4, 2024	J-GAAP
Sep - Feb, 2024 Guidance	114,898	7,245	6,987	4,142	30.5	24	Oct 3, 2024	J-GAAP
YoY	+15.8%	+16.1%	+22.3%	+10.5%	+10.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	176,072	5,214	5,319	3,061	22.6	12	Apr 6, 2023	J-GAAP
Feb, 2024	189,629	11,260	10,126	6,611	48.7	20	Apr 4, 2024	J-GAAP
Feb, 2025 Guidance	210,000	12,500	12,200	8,250	60.8	24	Oct 3, 2024	J-GAAP
YoY	+10.7%	+11.0%	+20.5%	+24.8%	+24.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	40,504	-358	-449	-486	-3.6	-0.9	Oct 5, 2023	J-GAAP
Sep - Nov, 2023	50,972	4,678	4,643	2,884	21.3	9.2	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	48,246	1,560	1,071	865	6.4	3.2	Apr 4, 2024	J-GAAP
Mar - May, 2024	51,376	5,074	5,195	4,019	29.6	9.9	Jul 4, 2024	J-GAAP
Jun - Aug, 2024	43,726	181	18	89	0.7	0.4	Oct 3, 2024	J-GAAP
YoY	+8.0%	－	－	－	－