Ray Corporation, June-August (2Q) Ordinary Profit Decreases by 37%

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Fri Oct 11, 2024 3:00 pm JST Earnings

4317 Ray Corporation 【J-GAAP】

Earnings Report

Ray Corporation <4317> [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) was 236 million yen, a 1.7% decrease compared to the same period last year. The progress rate against the 785 million yen full-year plan was 30.1%, almost the same as the five-year average of 31.1%.

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 48.7% from the same period last year to 549 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit dropped to 74 million yen, a 37.3% decrease compared to the same period last year. The operating profit margin worsened from 4.3% in the same period last year to 2.3%.

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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	6,111	729	728	226	15.8	52.0	Oct 13, 2022	J-GAAP
Mar - Aug, 2023	4,448	174	240	68	4.8	18.3	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	4,513	172	236	169	12.1	30.1	Oct 11, 2024	J-GAAP
YoY	+1.5%	-1.1%	-1.7%	+148.5%	+153.3%

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	5,100	150	200	140	10.1	0	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	4,513	172	236	169	12.1	0	Oct 11, 2024	J-GAAP
Revision Rate	-11.5%	+14.7%	+18.0%	+20.7%	+19.9%

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	6,774	978	1,071	750	52.5	15	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	7,187	528	549	351	25.9	10	Oct 11, 2024	J-GAAP
YoY	+6.1%	-46.0%	-48.7%	-53.2%	-50.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	12,450	1,398	1,401	715	49.9	15	Jun 30, 2023	J-GAAP
Feb, 2024	11,222	1,152	1,311	818	57.3	15	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	11,700	700	785	520	38.3	10	Apr 12, 2024	J-GAAP
YoY	+4.3%	-39.2%	-40.1%	-36.4%	-33.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	2,163	93	118	-16	-1.1	4.3	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	3,692	729	768	540	37.8	19.7	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	3,082	249	303	210	14.7	8.1	Apr 12, 2024	J-GAAP
Mar - May, 2024	2,322	121	162	113	8.1	5.2	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	2,191	51	74	56	4.0	2.3	Oct 11, 2024	J-GAAP
YoY	+1.3%	-45.2%	-37.3%	－	－