Shochiku Co;Ltd., The Current Fiscal Year Ordinary Profit Revised Downward to a Loss

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Fri Oct 11, 2024 2:00 pm JST Earnings

9601 Shochiku Co;Ltd. 【J-GAAP】

Earnings Report

Shochiku Co;Ltd. <9601> [TSE-P] announced its financial results in the afternoon session on October 11th (14:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending February 2025 (March to August) turned into a loss of 3.14 billion yen (compared to a profit of 1.66 billion yen in the same period last year).

In addition, the full-year consolidated ordinary profit/loss has been revised downward from an expected profit of 1.3 billion yen to a loss of 2.85 billion yen (compared to a profit of 2.86 billion yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to significant drop by 75.2% from the same period last year to 298 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary loss expanded to a loss of 3.15 billion yen (compared to a loss of 263 million yen in the same period last year). However, the operating profit/loss margin improved from -0.3% 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	38,419	-168	2,560	7,554	550.0	188.4	Oct 13, 2022	J-GAAP
Mar - Aug, 2023	42,899	2,350	1,665	3,315	241.4	58.1	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	39,587	715	-3,148	-681	-49.6	ー	Oct 11, 2024	J-GAAP
YoY	-7.7%	-69.6%	－	－	－

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 15, 2024	J-GAAP
Mar - Aug, 2024 Results	39,587	715	-3,148	-681	-49.6	0	Oct 11, 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	91,700	1,300	1,300	3,500	254.7	30	Jul 12, 2024	J-GAAP
Feb, 2025 New	86,700	1,000	-2,850	-580	-42.2	30	Oct 11, 2024	J-GAAP
Revision Rate	-5.5%	-23.1%	－	－	－

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	42,529	1,234	1,201	-299	-21.8	30	Apr 15, 2024	J-GAAP
Sep - Feb, 2024 Guidance	47,113	285	298	101	7.4	30	Oct 11, 2024	J-GAAP
YoY	+10.8%	-76.9%	-75.2%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	78,212	-776	1,359	5,484	399.3	30	Apr 14, 2023	J-GAAP
Feb, 2024	85,428	3,584	2,866	3,016	219.6	30	Apr 15, 2024	J-GAAP
Feb, 2025 Guidance	86,700	1,000	-2,850	-580	-42.2	30	Oct 11, 2024	J-GAAP
YoY	+1.5%	-72.1%	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	19,717	-61	-263	1,686	122.8	-0.3	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	19,565	-502	-818	-810	-59.0	-2.6	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	22,964	1,736	2,019	511	37.2	7.6	Apr 15, 2024	J-GAAP
Mar - May, 2024	19,483	346	4	-88	-6.4	1.8	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	20,104	369	-3,152	-593	-43.2	1.8	Oct 11, 2024	J-GAAP
YoY	+2.0%	－	-1,098.5%	－	－