IZUTSUYA CO.,LTD., First Half Ordinary Profit Decreases by 60%, June-Augus Ordinary Profit Turns to Loss

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Fri Oct 11, 2024 3:00 pm JST Earnings

8260 IZUTSUYA CO.,LTD. 【J-GAAP】

Earnings Report

IZUTSUYA CO.,LTD. <8260> [TSE-S] announced its financial results after the market closed on October 11th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) significantly dropped by 60.0% from the same period last year to 185 million yen. The progress rate against the 800 million yen full-year plan was 23.1%, also falling below the five-year average of 47.6%.

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 27.1% from the same period last year, reaching 615 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit/loss turned to a loss of 1 million yen (compared to a profit of 157 million yen in the same period last year). However, the operating profit margin improved from 3.1% in the same period last year to 3.8%.

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	11,164	707	646	811	70.9	60.1	Oct 13, 2022	J-GAAP
Mar - Aug, 2023	10,905	477	463	460	40.3	48.9	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	10,928	434	185	201	17.8	23.1	Oct 11, 2024	J-GAAP
YoY	+0.2%	-9.0%	-60.0%	-56.3%	-55.7%

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	－	－	Apr 10, 2024	J-GAAP
Mar - Aug, 2024 Results	10,928	434	185	201	17.8	－	Oct 11, 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	11,616	521	484	506	44.5	5	Apr 10, 2024	J-GAAP
Sep - Feb, 2024 Guidance	11,772	466	615	599	53.0	6	Oct 11, 2024	J-GAAP
YoY	+1.3%	-10.6%	+27.1%	+18.4%	+19.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	22,573	1,177	1,075	1,019	89.0	5	Apr 12, 2023	J-GAAP
Feb, 2024	22,521	998	947	966	85.0	5	Apr 10, 2024	J-GAAP
Feb, 2025 Guidance	22,700	900	800	800	70.7	6	Apr 10, 2024	J-GAAP
YoY	+0.8%	-9.8%	-15.5%	-17.2%	-16.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	5,668	177	157	147	12.9	3.1	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	5,276	50	1	-16	-1.4	0.9	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	6,340	471	483	522	45.9	7.4	Apr 10, 2024	J-GAAP
Mar - May, 2024	5,227	218	186	196	17.4	4.2	Jul 10, 2024	J-GAAP
Jun - Aug, 2024	5,701	216	-1	5	0.4	3.8	Oct 11, 2024	J-GAAP
YoY	+0.6%	+22.0%	－	-96.6%	-96.6%