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J.FRONT RETAILING Co.,Ltd., First Half Net Income Increases by 2.3 times, June-Augus Net Income Increases by 2.7 times

Tue Oct 8, 2024 3:00 pm JST Earnings

3086 J.FRONT RETAILING Co.,Ltd. 【IFRS】

Earnings Report

J.FRONT RETAILING Co.,Ltd. <3086> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 8th (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending February 2025 (March to August) surged by 2.3 times that of the same period last year, reaching 29 billion yen. The progress rate against the 36.5 billion yen full-year plan was 79.7%, also surpassing the five-year average of 60.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the September to February period (second half) is expected to significant drop by 56.5% from the same period last year to 7.4 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated net income surged to 2.7 times that of the same period last year, reaching 17.7 billion yen. The operating profit margin drastically improved from 9.7% in the same period last year to 21.5%.

Kabutan News

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 169,129 13,237 12,223 10,155 38.8 72.4 Oct 11, 2022 IFRS
Mar - Aug, 2023 191,634 19,684 18,804 12,900 49.2 45.5 Oct 10, 2023 IFRS
Mar - Aug, 2024 209,368 39,364 38,263 29,094 111.9 76.5 Oct 8, 2024 IFRS
YoY +9.3% +100.0% +103.5% +125.5% +127.4%

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 209,300 39,300 38,200 29,000 113.2 22 Sep 24, 2024 IFRS
Mar - Aug, 2024 Results 209,368 39,364 38,263 29,094 111.9 22 Oct 8, 2024 IFRS
Revision Rate +0.0% +0.2% +0.2% +0.3% -1.1%

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 215,372 23,364 22,539 17,013 64.9 20 Apr 15, 2024 IFRS
Sep - Feb, 2024 Guidance 227,632 12,636 11,737 7,406 28.9 22 Oct 8, 2024 IFRS
YoY +5.7% -45.9% -47.9% -56.5% -55.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 359,679 19,059 16,873 14,237 54.3 31 Apr 11, 2023 IFRS
Feb, 2024 407,006 43,048 41,343 29,913 114.1 36 Apr 15, 2024 IFRS
Feb, 2025 Guidance 437,000 52,000 50,000 36,500 142.4 44 Sep 24, 2024 IFRS
YoY +7.4% +20.8% +20.9% +22.0% +24.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 98,178 9,515 8,878 6,503 24.8 9.7 Oct 10, 2023 IFRS
Sep - Nov, 2023 94,928 10,993 11,044 8,704 33.2 11.6 Dec 26, 2023 IFRS
Dec - Feb, 2023 120,444 12,371 11,495 8,309 31.7 10.3 Apr 15, 2024 IFRS
Mar - May, 2024 101,469 16,136 15,631 11,316 43.1 15.9 Jun 28, 2024 IFRS
Jun - Aug, 2024 107,899 23,228 22,632 17,778 68.4 21.5 Oct 8, 2024 IFRS
YoY +9.9% +144.1% +154.9% +173.4% +175.6%

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