IZUMI CO.,LTD., First Half Ordinary Profit Decreases by 22%, June-Augus Ordinary Profit Decreases by 16%

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Tue Oct 15, 2024 3:00 pm JST Earnings

8273 IZUMI CO.,LTD. 【J-GAAP】

Earnings Report

IZUMI CO.,LTD. <8273> [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) decreased by 21.9% from the same period last year to 12.3 billion yen. The progress rate against the 26.3 billion yen full-year plan was 47.0%, almost the same as the five-year average of 46.5%.

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 decrease by 15.5% from the same period last year to 13.9 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 6.28 billion yen, a 16.1% decrease compared to the same period last year. The operating profit margin worsened from 6.2% in the same period last year to 4.8%.

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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	224,061	15,694	15,907	10,634	148.8	46.2	Oct 11, 2022	J-GAAP
Mar - Aug, 2023	233,320	15,518	15,812	10,460	146.3	48.9	Oct 10, 2023	J-GAAP
Mar - Aug, 2024	238,670	12,029	12,348	8,156	114.0	47.0	Oct 15, 2024	J-GAAP
YoY	+2.3%	-22.5%	-21.9%	-22.0%	-22.1%

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	238,300	11,700	11,900	7,300	102.0	45	Aug 28, 2024	J-GAAP
Mar - Aug, 2024 Results	238,670	12,029	12,348	8,156	114.0	45	Oct 15, 2024	J-GAAP
Revision Rate	+0.2%	+2.8%	+3.8%	+11.7%	+11.8%

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	237,846	15,907	16,510	10,025	140.2	45	Jun 27, 2024	J-GAAP
Sep - Feb, 2024 Guidance	288,630	14,471	13,952	6,244	87.3	45	Oct 15, 2024	J-GAAP
YoY	+21.4%	-9.0%	-15.5%	-37.7%	-37.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	460,140	33,644	34,396	23,188	324.4	87	Apr 11, 2023	J-GAAP
Feb, 2024	471,166	31,425	32,322	20,485	286.5	89	Jun 27, 2024	J-GAAP
Feb, 2025 Guidance	527,300	26,500	26,300	14,400	201.3	90	Aug 28, 2024	J-GAAP
YoY	+11.9%	-15.7%	-18.6%	-29.7%	-29.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	119,006	7,368	7,488	4,931	69.0	6.2	Oct 10, 2023	J-GAAP
Sep - Nov, 2023	111,499	6,318	6,513	4,065	56.9	5.7	Jan 9, 2024	J-GAAP
Dec - Feb, 2023	126,347	9,589	9,997	5,960	83.4	7.6	Jun 27, 2024	J-GAAP
Mar - May, 2024	108,784	5,811	6,063	3,933	55.0	5.3	Aug 28, 2024	J-GAAP
Jun - Aug, 2024	129,886	6,218	6,285	4,223	59.0	4.8	Oct 15, 2024	J-GAAP
YoY	+9.1%	-15.6%	-16.1%	-14.4%	-14.4%