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LAND Co.,Ltd., First Half Ordinary Profit Turns to Profit, June-Augus Ordinary Profit Increases by 109 times

Thu Oct 10, 2024 3:00 pm JST Earnings

8918 LAND Co.,Ltd. 【J-GAAP】

Earnings Report

LAND Co.,Ltd. <8918> [TSE-S] announced its financial results after the market closed on October 10th (15:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending February 2025 (March to August) turned into a profit of 821 million yen (compared to a loss of 49 million yen in the same period last year). The progress rate against the 1 billion yen full-year plan was 82.1%, almost the same as the five-year average of 83.8%.

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 drop by 40.7% from the same period last year to 179 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit surged to 109 times that of the same period last year, reaching 982 million yen. The operating profit/loss margin drastically improved from -3.4% in the same period last year to 31.5%.

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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 1,273 803 826 814 0.6 60.9 Oct 13, 2022 J-GAAP
Mar - Aug, 2023 533 -90 -49 -54 0.0 ー Oct 12, 2023 J-GAAP
Mar - Aug, 2024 3,229 828 821 617 0.4 82.1 Oct 10, 2024 J-GAAP
YoY +505.8% － － － －

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 11, 2024 J-GAAP
Mar - Aug, 2024 Results 3,229 828 821 617 0.4 0 Oct 10, 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 1,568 320 302 294 0.2 0.10 Apr 11, 2024 J-GAAP
Sep - Feb, 2024 Guidance 2,571 172 179 283 0.2 － Oct 10, 2024 J-GAAP
YoY +64.0% -46.3% -40.7% -3.7% -9.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 4,102 1,293 1,357 1,276 0.9 0.10 Apr 13, 2023 J-GAAP
Feb, 2024 2,101 230 253 240 0.2 0.10 Apr 11, 2024 J-GAAP
Feb, 2025 Guidance 5,800 1,000 1,000 900 0.6 － Apr 11, 2024 J-GAAP
YoY +176.1% +334.8% +295.3% +275.0% +247.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 208 -7 9 4 0.0 -3.4 Oct 12, 2023 J-GAAP
Sep - Nov, 2023 194 -45 -68 -73 -0.1 -23.2 Jan 11, 2024 J-GAAP
Dec - Feb, 2023 1,374 365 370 367 0.3 26.6 Apr 11, 2024 J-GAAP
Mar - May, 2024 112 -154 -161 -162 -0.1 -137.5 Jul 11, 2024 J-GAAP
Jun - Aug, 2024 3,117 982 982 779 0.5 31.5 Oct 10, 2024 J-GAAP
YoY +1,398.6% － +10,811.1% +19,375.0% －

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