JASON CO.,LTD., First Half Ordinary Profit Revised Downward to an Unexpected 19%Decrease

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Tue Oct 15, 2024 4:00 pm JST Earnings

3080 JASON CO.,LTD. 【J-GAAP】

Earnings Report

JASON CO.,LTD. <3080> [TSE-S] announced its financial results after the market closed on October 15th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 19.0% from the same period last year to 559 million yen, resulting in a decrease in profits compared to the previous forecast of a 2.9% increase.

The progress rate against the 1.03 billion yen full-year plan was 54.3%, below the five-year average of 70.7%.

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 2.1 times that of the same period last year, reaching 471 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 236 million yen, a 26.5% decrease compared to the same period last year. The operating profit margin worsened from 4.0% in the same period last year to 2.9%.

Kabutan News

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	14,103	611	632	385	30.1	75.3	Oct 13, 2022	J-GAAP
Mar - Aug, 2023	15,212	673	690	432	33.7	75.8	Oct 12, 2023	J-GAAP
Mar - Aug, 2024	15,033	542	559	340	26.6	54.3	Oct 15, 2024	J-GAAP
YoY	-1.2%	-19.5%	-19.0%	-21.3%	-21.3%

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	15,600	690	710	430	33.6	0	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	15,033	542	559	340	26.6	0	Oct 15, 2024	J-GAAP
Revision Rate	-3.6%	-21.4%	-21.3%	-20.9%	-20.9%

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	13,528	203	220	170	13.3	13	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	14,967	448	471	310	24.2	13	Oct 15, 2024	J-GAAP
YoY	+10.6%	+120.7%	+114.1%	+82.4%	+82.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	27,226	801	839	599	46.8	13	Apr 13, 2023	J-GAAP
Feb, 2024	28,740	876	910	602	47.1	13	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	30,000	990	1,030	650	50.7	13	Apr 12, 2024	J-GAAP
YoY	+4.4%	+13.0%	+13.2%	+8.0%	+7.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	7,919	313	321	202	15.8	4.0	Oct 12, 2023	J-GAAP
Sep - Nov, 2023	6,957	159	168	108	8.4	2.3	Jan 11, 2024	J-GAAP
Dec - Feb, 2023	6,571	44	52	62	4.9	0.7	Apr 12, 2024	J-GAAP
Mar - May, 2024	7,213	313	323	198	15.5	4.3	Jul 11, 2024	J-GAAP
Jun - Aug, 2024	7,820	229	236	142	11.1	2.9	Oct 15, 2024	J-GAAP
YoY	-1.3%	-26.8%	-26.5%	-29.7%	-29.7%