Takashimaya Company,Limited, First Half Ordinary Profit Increases by 36%, June-Augus Ordinary Profit Increases by 17%

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Tue Oct 15, 2024 3:00 pm JST Earnings

8233 Takashimaya Company,Limited 【J-GAAP】

Earnings Report

Takashimaya Company,Limited <8233> [TSE-P] announced its financial results after the market closed on October 15th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) expanded to 30.2 billion yen, an increase of 36.3% compared to the same period last year. The progress rate against the 58 billion yen full-year plan was 52.1%, also surpassing the five-year average of 47.3%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to grow by 2.8% from the same period last year, reaching 27.7 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 30 yen to 34.5 yen (compared to 37 yen before the 1-to-2 stock split in the previous period).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit grew by 17.5% from the same period last year, reaching 12.4 billion yen. The operating profit margin improved from 8.5% in the same period last year to 9.3%.

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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	209,012	12,812	14,597	13,522	40.6	42.3	Oct 11, 2022	J-GAAP
Mar - Aug, 2023	221,175	20,810	22,181	14,962	47.4	45.1	Oct 13, 2023	J-GAAP
Mar - Aug, 2024	243,431	28,760	30,238	19,078	60.5	52.1	Oct 15, 2024	J-GAAP
YoY	+10.1%	+38.2%	+36.3%	+27.5%	+27.5%

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	254,900	27,700	27,700	17,800	56.4	10	Jun 28, 2024	J-GAAP
Mar - Aug, 2024 Results	243,431	28,760	30,238	19,078	60.5	11.50	Oct 15, 2024	J-GAAP
Revision Rate	-4.5%	+3.8%	+9.2%	+7.2%	+7.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	511,400	55,000	58,000	38,000	123.4	20	Jun 28, 2024	J-GAAP
Feb, 2025 New	495,000	55,000	58,000	38,000	123.4	23	Oct 15, 2024	J-GAAP
Revision Rate	-3.2%	0.0%	0.0%	0.0%	0.0%

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	244,959	25,127	27,018	16,658	52.8	10	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	251,569	26,240	27,762	18,922	61.5	11.50	Oct 15, 2024	J-GAAP
YoY	+2.7%	+4.4%	+2.8%	+13.6%	+16.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	443,443	32,519	34,520	27,838	84.9	13	Apr 14, 2023	J-GAAP
Feb, 2024	466,134	45,937	49,199	31,620	100.2	18.50	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	495,000	55,000	58,000	38,000	123.4	23	Oct 15, 2024	J-GAAP
YoY	+6.2%	+19.7%	+17.9%	+20.2%	+23.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	115,618	9,772	10,560	6,422	20.4	8.5	Oct 13, 2023	J-GAAP
Sep - Nov, 2023	113,017	12,399	13,648	9,289	29.5	11.0	Dec 25, 2023	J-GAAP
Dec - Feb, 2023	131,942	12,728	13,370	7,369	23.4	9.6	Apr 12, 2024	J-GAAP
Mar - May, 2024	120,125	17,295	17,835	12,821	40.6	14.4	Jun 28, 2024	J-GAAP
Jun - Aug, 2024	123,306	11,465	12,403	6,257	19.8	9.3	Oct 15, 2024	J-GAAP
YoY	+6.6%	+17.3%	+17.5%	-2.6%	-2.6%