Freund Corporation, First Half Ordinary Profit Turns to Loss, June-Augus Ordinary Profit Decreases by 29%

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Fri Oct 11, 2024 4:00 pm JST Earnings

6312 Freund Corporation 【J-GAAP】

Earnings Report

Freund Corporation <6312> [TSE-S] announced its financial results after the market closed on October 11th (16:00). 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 96 million yen (compared to a profit of 195 million yen in the same period last year).

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 9.7% from the same period last year, reaching 1.19 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 151 million yen, a 28.8% decrease compared to the same period last year. The operating profit margin worsened from 3.8% in the same period last year to 2.6%.

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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	8,534	-67	32	-17	-1.0	5.7	Oct 7, 2022	J-GAAP
Mar - Aug, 2023	9,583	177	195	115	6.9	15.2	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	9,313	-131	-96	-118	-7.0	ー	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	－	0	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	9,313	-131	-96	-118	-7.0	0	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	13,320	1,093	1,090	649	38.6	20	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	14,187	1,231	1,196	888	52.5	25	Oct 11, 2024	J-GAAP
YoY	+6.5%	+12.6%	+9.7%	+36.8%	+35.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	19,658	451	559	-538	-32.2	20	May 8, 2023	J-GAAP
Feb, 2024	22,903	1,270	1,285	764	45.5	20	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	23,500	1,100	1,100	770	45.5	25	Apr 12, 2024	J-GAAP
YoY	+2.6%	-13.4%	-14.4%	+0.8%	+0.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	5,383	206	212	133	8.0	3.8	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	4,587	-59	-70	-61	-3.7	-1.3	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	8,733	1,152	1,160	710	42.3	13.2	Apr 12, 2024	J-GAAP
Mar - May, 2024	4,124	-264	-247	-205	-12.2	-6.4	Jul 16, 2024	J-GAAP
Jun - Aug, 2024	5,189	133	151	87	5.2	2.6	Oct 11, 2024	J-GAAP
YoY	-3.6%	-35.4%	-28.8%	-34.6%	-35.4%