FUJI CO., LTD., First Half Ordinary Profit Decreases by 13%

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Mon Oct 7, 2024 3:00 pm JST Earnings

8278 FUJI CO., LTD. 【J-GAAP】

Earnings Report

FUJI CO., LTD. <8278> [TSE-P] announced its financial results after the market closed on October 7th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 12.7% from the same period last year to 6.07 billion yen. The progress rate against the 17.7 billion yen full-year plan was 34.3%, also falling below the five-year average of 45.5%.

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 grow by 11.7% from the same period last year, reaching 11.6 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit amounted to 4.26 billion yen, an increase of 2.5% compared to the same period last year. However, the operating profit margin remained almost flat, changing from 1.8% in the same period last year to 1.8%.

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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	386,171	5,108	6,039	5,943	68.6	45.2	Oct 4, 2022	J-GAAP
Mar - Aug, 2023	398,843	6,053	6,963	4,053	46.8	40.1	Oct 11, 2023	J-GAAP
Mar - Aug, 2024	401,698	5,168	6,076	2,525	29.1	34.3	Oct 7, 2024	J-GAAP
YoY	+0.7%	-14.6%	-12.7%	-37.7%	-37.7%

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	ー	ー	ー	ー	－	15	Apr 8, 2024	J-GAAP
Mar - Aug, 2024 Results	401,698	5,168	6,076	2,525	29.1	15	Oct 7, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	402,179	9,057	10,411	3,383	39.0	15	Apr 8, 2024	J-GAAP
Sep - Feb, 2024 Guidance	408,302	10,332	11,624	5,475	63.2	15	Oct 7, 2024	J-GAAP
YoY	+1.5%	+14.1%	+11.7%	+61.8%	+61.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	784,967	11,320	13,359	9,033	104.2	30	Apr 12, 2023	J-GAAP
Feb, 2024	801,022	15,110	17,374	7,436	85.8	30	Apr 8, 2024	J-GAAP
Feb, 2025 Guidance	810,000	15,500	17,700	8,000	92.3	30	Apr 8, 2024	J-GAAP
YoY	+1.1%	+2.6%	+1.9%	+7.6%	+7.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	203,457	3,715	4,162	2,279	26.3	1.8	Oct 11, 2023	J-GAAP
Sep - Nov, 2023	196,153	1,210	2,005	1,017	11.7	0.6	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	206,026	7,847	8,406	2,366	27.3	3.8	Apr 8, 2024	J-GAAP
Mar - May, 2024	196,165	1,435	1,809	107	1.2	0.7	Jul 8, 2024	J-GAAP
Jun - Aug, 2024	205,533	3,733	4,267	2,418	27.9	1.8	Oct 7, 2024	J-GAAP
YoY	+1.0%	+0.5%	+2.5%	+6.1%	+6.1%