WADAKOHSAN CORPORATION, June-August (2Q) Ordinary Profit Increases by 46%

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Fri Oct 4, 2024 3:30 pm JST Earnings

8931 WADAKOHSAN CORPORATION 【J-GAAP】

Earnings Report

WADAKOHSAN CORPORATION <8931> [TSE-S] announced its financial results after the market closed on October 4th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 14.8% from the same period last year to 1.82 billion yen. The progress rate against the 4.15 billion yen full-year plan was 44.0%, also falling below the five-year average of 51.9%.

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 expand by 38.5% from the same period last year, reaching 2.32 billion yen.

In the most recent three-month period, from June to August (2Q), the ordinary profit increased by 45.6% from the same period last year, reaching 818 million yen. However, the operating profit margin decreased from 12.0% 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	19,367	2,111	1,829	1,270	114.5	50.7	Oct 7, 2022	J-GAAP
Mar - Aug, 2023	20,789	2,502	2,141	1,481	133.5	56.0	Oct 6, 2023	J-GAAP
Mar - Aug, 2024	20,149	2,176	1,824	1,242	113.0	44.0	Oct 4, 2024	J-GAAP
YoY	-3.1%	-13.0%	-14.8%	-16.1%	-15.3%

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	20,100	2,170	1,820	1,240	113.2	26	Sep 13, 2024	J-GAAP
Mar - Aug, 2024 Results	20,149	2,176	1,824	1,242	113.0	26	Oct 4, 2024	J-GAAP
Revision Rate	+0.2%	+0.3%	+0.2%	+0.2%	-0.2%

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	18,036	2,026	1,679	1,157	104.3	34	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	19,851	2,774	2,326	1,708	155.9	39	Oct 4, 2024	J-GAAP
YoY	+10.1%	+36.9%	+38.5%	+47.6%	+49.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	42,712	4,387	3,607	2,382	214.6	50	Apr 7, 2023	J-GAAP
Feb, 2024	38,825	4,528	3,820	2,638	237.7	60	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	40,000	4,950	4,150	2,950	269.3	65	Sep 13, 2024	J-GAAP
YoY	+3.0%	+9.3%	+8.6%	+11.8%	+13.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	6,234	748	562	384	34.6	12.0	Oct 6, 2023	J-GAAP
Sep - Nov, 2023	11,509	1,514	1,362	940	84.7	13.2	Jan 9, 2024	J-GAAP
Dec - Feb, 2023	6,527	512	317	217	19.6	7.8	Apr 12, 2024	J-GAAP
Mar - May, 2024	10,981	1,252	1,006	686	62.2	11.4	Jul 5, 2024	J-GAAP
Jun - Aug, 2024	9,168	924	818	556	50.6	10.1	Oct 4, 2024	J-GAAP
YoY	+47.1%	+23.5%	+45.6%	+44.8%	+46.2%