Aeon Hokkaido Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 14% Decrease

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Wed Oct 9, 2024 3:00 pm JST Earnings

7512 Aeon Hokkaido Corporation 【J-GAAP】

Earnings Report

Aeon Hokkaido Corporation <7512> [TSE-S] announced its financial results after the market closed on October 9th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 11.4% from the same period last year to 3.26 billion yen.

In addition, the full-year ordinary profit has downwardly by 19.1%, from the previous forecast of 11 billion yen to 8.9 billion yen (compared to 10.3 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 14.4% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the September to February period (second half) is expected to decrease by 16.0% from the same period last year to 5.63 billion yen.

In the most recent three-month period, from June to August (2Q), the ordinary profit decreased to 1.56 billion yen, a 20.4% decrease compared to the same period last year. The operating profit margin worsened from 2.4% 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	155,348	3,214	3,264	1,825	13.1	38.4	Oct 5, 2022	J-GAAP
Mar - Aug, 2023	161,894	3,679	3,686	1,907	13.7	35.5	Oct 11, 2023	J-GAAP
Mar - Aug, 2024	169,154	3,080	3,265	1,609	11.6	36.7	Oct 9, 2024	J-GAAP
YoY	+4.5%	-16.3%	-11.4%	-15.6%	-15.6%

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	－	0	Apr 10, 2024	J-GAAP
Mar - Aug, 2024 Results	169,154	3,080	3,265	1,609	11.6	0	Oct 9, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	351,000	11,000	11,000	6,400	46.0	16	Apr 10, 2024	J-GAAP
Feb, 2025 New	358,000	9,000	8,900	4,900	35.2	16	Oct 9, 2024	J-GAAP
Revision Rate	+2.0%	-18.2%	-19.1%	-23.4%	-23.4%

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	171,266	6,687	6,710	4,286	30.8	16	Apr 10, 2024	J-GAAP
Sep - Feb, 2024 Guidance	188,846	5,920	5,635	3,291	23.6	16	Oct 9, 2024	J-GAAP
YoY	+10.3%	-11.5%	-16.0%	-23.2%	-23.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	317,274	8,347	8,501	4,705	33.8	12	Apr 12, 2023	J-GAAP
Feb, 2024	333,160	10,366	10,396	6,193	44.5	16	Apr 10, 2024	J-GAAP
Feb, 2025 Guidance	358,000	9,000	8,900	4,900	35.2	16	Oct 9, 2024	J-GAAP
YoY	+7.5%	-13.2%	-14.4%	-20.9%	-20.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	82,118	1,955	1,967	766	5.5	2.4	Oct 11, 2023	J-GAAP
Sep - Nov, 2023	80,358	1,853	1,873	1,258	9.0	2.3	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	90,908	4,834	4,837	3,028	21.8	5.3	Apr 10, 2024	J-GAAP
Mar - May, 2024	83,048	1,540	1,699	1,088	7.8	1.9	Jul 10, 2024	J-GAAP
Jun - Aug, 2024	86,106	1,540	1,566	521	3.7	1.8	Oct 9, 2024	J-GAAP
YoY	+4.9%	-21.2%	-20.4%	-32.0%	-32.0%