No.1 Co.,Ltd, First Half Ordinary Profit Increases by 3%

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Fri Oct 11, 2024 3:00 pm JST Earnings

3562 No.1 Co.,Ltd 【J-GAAP】

Earnings Report

No.1 Co.,Ltd <3562> [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 480 million yen, a 2.6% increase compared to the same period last year. The progress rate against the 915 million yen full-year plan was 52.5%, also surpassing the five-year average of 41.0%.

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 41.8% from the same period last year to 435 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit amounted to 337 million yen, an increase of 1.5% compared to the same period last year. However, the operating profit margin worsened from 9.8% in the same period last year to 9.2%.

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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	6,618	601	599	558	85.2	52.4	Oct 14, 2022	J-GAAP
Mar - Aug, 2023	6,584	474	468	356	53.7	38.5	Oct 13, 2023	J-GAAP
Mar - Aug, 2024	6,824	479	480	221	33.6	52.5	Oct 11, 2024	J-GAAP
YoY	+3.6%	+1.1%	+2.6%	-37.9%	-37.4%

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	－	17.50	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	6,824	479	480	221	33.6	17.50	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	6,868	753	748	530	81.2	16.50	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	7,276	451	435	352	51.9	17.50	Oct 11, 2024	J-GAAP
YoY	+5.9%	-40.1%	-41.8%	-33.6%	-36.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	13,308	1,150	1,143	911	138.7	32	Apr 14, 2023	J-GAAP
Feb, 2024	13,452	1,227	1,216	886	135.8	33	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	14,100	930	915	573	84.4	35	Apr 12, 2024	J-GAAP
YoY	+4.8%	-24.2%	-24.8%	-35.3%	-37.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	3,428	336	332	227	34.2	9.8	Oct 13, 2023	J-GAAP
Sep - Nov, 2023	3,172	159	157	79	12.1	5.0	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	3,696	594	591	451	69.1	16.1	Apr 12, 2024	J-GAAP
Mar - May, 2024	3,191	145	143	80	12.6	4.5	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	3,633	334	337	141	21.4	9.2	Oct 11, 2024	J-GAAP
YoY	+6.0%	-0.6%	+1.5%	-37.9%	-37.4%