STrust Co.,Ltd., June-August (2Q) Ordinary Profit Loss Widens

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Fri Oct 11, 2024 3:30 pm JST Earnings

3280 STrust Co.,Ltd. 【J-GAAP】

Earnings Report

STrust Co.,Ltd. <3280> [TSE-S] announced its financial results after the market closed on October 11th (15:30). 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 199 million yen (compared to a loss of 127 million yen in the same period last year). However, The progress rate against the 1.6 billion yen full-year plan was 12.4%, also falling below the five-year average of 28.5%.

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 15.7% from the same period last year, reaching 1.4 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary loss expanded to a loss of 86 million yen (compared to a loss of 51 million yen in the same period last year). The operating profit/loss margin worsened from -0.5% in the same period last year to -3.3%.

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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	6,084	410	347	235	39.5	28.4	Oct 7, 2022	J-GAAP
Mar - Aug, 2023	4,886	-46	-127	-103	-17.2	ー	Oct 10, 2023	J-GAAP
Mar - Aug, 2024	4,749	171	199	122	20.4	12.4	Oct 11, 2024	J-GAAP
YoY	-2.8%	－	－	－	－

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	－	12	Apr 8, 2024	J-GAAP
Mar - Aug, 2024 Results	4,749	171	199	122	20.4	12	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	13,158	1,186	1,211	834	139.3	11	Apr 8, 2024	J-GAAP
Sep - Feb, 2024 Guidance	14,851	1,529	1,401	878	145.6	12	Oct 11, 2024	J-GAAP
YoY	+12.9%	+28.9%	+15.7%	+5.3%	+4.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	15,619	1,358	1,223	838	140.5	20	Apr 10, 2023	J-GAAP
Feb, 2024	18,044	1,140	1,084	731	122.1	22	Apr 8, 2024	J-GAAP
Feb, 2025 Guidance	19,600	1,700	1,600	1,000	165.8	24	Apr 8, 2024	J-GAAP
YoY	+8.6%	+49.1%	+47.6%	+36.8%	+35.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	2,896	-15	-51	-40	-6.7	-0.5	Oct 10, 2023	J-GAAP
Sep - Nov, 2023	4,644	241	200	136	23.2	5.2	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	8,514	945	1,011	698	116.6	11.1	Apr 8, 2024	J-GAAP
Mar - May, 2024	3,334	218	285	196	32.7	6.5	Jul 8, 2024	J-GAAP
Jun - Aug, 2024	1,415	-47	-86	-74	-12.3	-3.3	Oct 11, 2024	J-GAAP
YoY	-51.1%	-213.3%	-68.6%	-85.0%	-84.5%