BAROQUE JAPAN LIMITED, First Half Ordinary Profit Turns to Loss, June-Augus Ordinary Profit Loss Widens

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Tue Oct 15, 2024 3:00 pm JST Earnings

3548 BAROQUE JAPAN LIMITED 【J-GAAP】

Earnings Report

BAROQUE JAPAN LIMITED <3548> [TSE-P] announced its financial results after the market closed on October 15th (15:00). 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 284 million yen (compared to a profit of 1.04 billion 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 surge by 2.4 times that of the same period last year, reaching 2.34 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary loss expanded to a loss of 538 million yen (compared to a loss of 61 million yen in the same period last year). The operating profit/loss margin worsened from -2.3% in the same period last year to -3.9%.

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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	26,987	741	277	-164	-4.6	22.9	Oct 17, 2022	J-GAAP
Mar - Aug, 2023	28,440	909	1,040	596	16.6	51.4	Oct 16, 2023	J-GAAP
Mar - Aug, 2024	27,713	106	-284	-390	-10.8	ー	Oct 15, 2024	J-GAAP
YoY	-2.6%	-88.3%	－	－	－

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	ー	ー	ー	ー	－	0	Apr 15, 2024	J-GAAP
Mar - Aug, 2024 Results	27,713	106	-284	-390	-10.8	0	Oct 15, 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	31,850	1,045	982	349	9.7	38	Apr 15, 2024	J-GAAP
Sep - Feb, 2024 Guidance	35,575	2,244	2,345	1,594	44.3	38	Oct 15, 2024	J-GAAP
YoY	+11.7%	+114.7%	+138.8%	+356.7%	+357.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	58,842	2,150	1,211	243	6.8	38	Apr 14, 2023	J-GAAP
Feb, 2024	60,290	1,954	2,022	945	26.2	38	Apr 15, 2024	J-GAAP
Feb, 2025 Guidance	63,288	2,350	2,061	1,204	33.5	38	Apr 15, 2024	J-GAAP
YoY	+5.0%	+20.3%	+1.9%	+27.4%	+27.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	13,850	-316	-61	-88	-2.4	-2.3	Oct 16, 2023	J-GAAP
Sep - Nov, 2023	15,796	891	949	592	16.4	5.6	Jan 15, 2024	J-GAAP
Dec - Feb, 2023	16,054	154	33	-243	-6.8	1.0	Apr 15, 2024	J-GAAP
Mar - May, 2024	13,859	646	254	3	0.1	4.7	Jul 16, 2024	J-GAAP
Jun - Aug, 2024	13,854	-540	-538	-393	-10.9	-3.9	Oct 15, 2024	J-GAAP
YoY	+0.0%	-70.9%	-782.0%	-346.6%	-347.5%