SE Holdings and Incubations Co., Ltd., July-September (2Q) Ordinary Profit Increases by 12%

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Thu Oct 24, 2024 3:30 pm JST Earnings

9478 SE Holdings and Incubations Co., Ltd. 【J-GAAP】

Earnings Report

SE Holdings and Incubations Co., Ltd. <9478> [TSE-S] announced its financial results after the market closed on October 24th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 16.3% from the same period last year to 488 million yen. However, The progress rate against the 940 million yen full-year plan was 51.9%, almost the same as the five-year average of 49.6%.

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 October to March period (second half) is expected to decrease by 19.3% from the same period last year to 452 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 12.0% from the same period last year, reaching 308 million yen. However, the operating profit margin decreased from 14.4% in the same period last year to 12.1%.

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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
Apr - Sep, 2022	3,562	752	684	461	21.8	49.2	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	3,615	651	583	382	19.7	51.0	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	3,606	466	488	319	17.9	51.9	Oct 24, 2024	J-GAAP
YoY	-0.2%	-28.4%	-16.3%	-16.5%	-9.1%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	3,600	450	420	280	16.2	0	Jul 18, 2024	J-GAAP
Apr - Sep, 2024 Results	3,606	466	488	319	17.9	0	Oct 24, 2024	J-GAAP
Revision Rate	+0.2%	+3.6%	+16.2%	+13.9%	+10.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	3,703	564	560	347	18.4	3.50	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	3,694	534	452	306	18.2	3.50	Oct 24, 2024	J-GAAP
YoY	-0.2%	-5.3%	-19.3%	-11.8%	-1.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	7,335	1,437	1,390	965	46.8	3	May 10, 2023	J-GAAP
Mar, 2024	7,318	1,215	1,143	729	38.6	3.50	May 8, 2024	J-GAAP
Mar, 2025 Guidance	7,300	1,000	940	625	37.1	3.50	Jul 18, 2024	J-GAAP
YoY	-0.2%	-17.7%	-17.8%	-14.3%	-4.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,924	277	275	171	8.8	14.4	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	1,745	314	389	261	13.7	18.0	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	1,958	250	171	86	4.6	12.8	May 8, 2024	J-GAAP
Apr - Jun, 2024	1,682	233	180	115	6.4	13.9	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	1,924	233	308	204	11.5	12.1	Oct 24, 2024	J-GAAP
YoY	0.0%	-15.9%	+12.0%	+19.3%	+29.8%