Canon Marketing Japan Inc., The Current Fiscal Year Net Income Revised Upward by 4%, Adds to Record High Profit Forecast, Dividend Revised Upward by 10 yen

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Wed Oct 23, 2024 3:00 pm JST Earnings

8060 Canon Marketing Japan Inc. 【J-GAAP】

Earnings Report

Canon Marketing Japan Inc. <8060> [TSE-P] announced its financial results after the market closed on October 23rd (15:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 4.4% from the same period last year, reaching 26.9 billion yen.

In addition, the full-year consolidated net income has been revised upward by 4.0%, from the previous forecast of 37.5 billion yen to 39 billion yen (compared to 36.4 billion yen in the previous period), increasing the growth rate from 2.8% to 6.9%, further surpassing the previous forecast of record-high profits for four consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the July to December period (second half) is expected to increase by 8.6%, from the previous forecast of 17.3 billion yen to 18.8 billion yen (compared to 17.8 billion yen in the same period of the previous year), turning to a 5.7% increase in the consolidated net income outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 120 yen to 130 yen (compared to 120 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated net income decreased to 6.83 billion yen, a 5.0% decrease compared to the same period last year. The operating profit margin worsened from 7.5% in the same period last year to 6.6%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	428,079	37,853	38,614	26,670	205.7	75.7	Oct 25, 2022	J-GAAP
Jan - Sep, 2023	444,550	37,682	38,539	25,854	199.4	71.9	Oct 25, 2023	J-GAAP
Jan - Sep, 2024	473,181	36,290	37,260	26,980	211.7	67.7	Oct 23, 2024	J-GAAP
YoY	+6.4%	-3.7%	-3.3%	+4.4%	+6.2%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	331,097	27,967	28,010	17,353	159.3	60	Jul 24, 2024	J-GAAP
Jul - Dec, 2024 New	331,097	27,967	28,010	18,853	173.1	70	Oct 23, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+8.6%	+8.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	650,000	54,000	55,000	37,500	344.3	120	Jul 24, 2024	J-GAAP
Dec, 2024 New	650,000	54,000	55,000	39,000	358.1	130	Oct 23, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	+4.0%	+4.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	306,695	25,404	25,728	17,832	137.5	70	Jan 29, 2024	J-GAAP
Jul - Dec, 2024 Guidance	331,097	27,967	28,010	18,853	173.1	70	Oct 23, 2024	J-GAAP
YoY	+8.0%	+10.1%	+8.9%	+5.7%	+25.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	588,132	49,947	50,991	35,552	274.2	90	Jan 27, 2023	J-GAAP
Dec, 2023	609,473	52,495	53,585	36,493	281.4	120	Jan 29, 2024	J-GAAP
Dec, 2024 Guidance	650,000	54,000	55,000	39,000	358.1	130	Oct 23, 2024	J-GAAP
YoY	+6.6%	+2.9%	+2.6%	+6.9%	+27.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	141,772	10,591	10,682	7,193	55.5	7.5	Oct 25, 2023	J-GAAP
Oct - Dec, 2023	164,923	14,813	15,046	10,639	82.0	9.0	Jan 29, 2024	J-GAAP
Jan - Mar, 2024	157,226	13,808	13,968	9,523	73.4	8.8	Apr 23, 2024	J-GAAP
Apr - Jun, 2024	161,677	12,225	13,022	10,624	81.9	7.6	Jul 24, 2024	J-GAAP
Jul - Sep, 2024	154,278	10,257	10,270	6,833	53.6	6.6	Oct 23, 2024	J-GAAP
YoY	+8.8%	-3.2%	-3.9%	-5.0%	-3.4%