SAKURAJIMA FUTO KAISHA,LTD., First Half Ordinary Profit Decreases by 11%

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Fri Oct 25, 2024 2:00 pm JST Earnings

9353 SAKURAJIMA FUTO KAISHA,LTD. 【J-GAAP】

Earnings Report

SAKURAJIMA FUTO KAISHA,LTD. <9353> [TSE-S] announced its financial results in the afternoon session on October 25th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 11.4% from the same period last year to 148 million yen. However, The progress rate against the 240 million yen full-year plan was 61.7%, also surpassing the five-year average of 58.4%.

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 drop by 45.2% from the same period last year to 92 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 77 million yen, a 18.9% decrease compared to the same period last year. The operating profit margin worsened from 8.8% in the same period last year to 7.4%.

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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	1,862	46	92	100	67.1	37.9	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	2,036	131	167	98	65.6	49.9	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	1,988	103	148	112	74.2	61.7	Oct 25, 2024	J-GAAP
YoY	-2.4%	-21.4%	-11.4%	+14.3%	+13.1%

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	1,900	100	130	90	59.3	－	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	1,988	103	148	112	74.2	－	Oct 25, 2024	J-GAAP
Revision Rate	+4.6%	+3.0%	+13.8%	+24.4%	+25.1%

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	2,076	104	168	113	75.1	30	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,112	67	92	48	31.6	30	Oct 25, 2024	J-GAAP
YoY	+1.7%	-35.6%	-45.2%	-57.5%	-57.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,865	157	243	193	128.6	30	May 12, 2023	J-GAAP
Mar, 2024	4,112	235	335	211	140.1	30	May 14, 2024	J-GAAP
Mar, 2025 Guidance	4,100	170	240	160	105.5	30	May 14, 2024	J-GAAP
YoY	-0.3%	-27.7%	-28.4%	-24.2%	-24.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,077	95	95	56	37.5	8.8	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	1,011	43	106	80	53.3	4.3	Jan 26, 2024	J-GAAP
Jan - Mar, 2024	1,065	61	62	33	21.9	5.7	May 14, 2024	J-GAAP
Apr - Jun, 2024	924	24	71	49	33.0	2.6	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	1,064	79	77	63	41.7	7.4	Oct 25, 2024	J-GAAP
YoY	-1.2%	-16.8%	-18.9%	+12.5%	+11.4%