CAWACHI LIMITED, The Current Fiscal Year Ordinary Profit Revised Downward by 3%

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Fri Oct 25, 2024 3:00 pm JST Earnings

2664 CAWACHI LIMITED 【J-GAAP】

Earnings Report

CAWACHI LIMITED <2664> [TSE-P] announced its financial results after the market closed on October 25th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 7.6% from the same period last year to 4.54 billion yen, resulting in a decrease in profits compared to the previous forecast of a 1.7% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 3.3%, from the previous forecast of 9 billion yen to 8.7 billion yen (compared to 8.6 billion yen in the previous period), leading to a reduction in the profit growth rate from 4.5% to 1.1%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 12.6% from the same period last year, reaching 4.15 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.72 billion yen, a 5.5% decrease compared to the same period last year. The operating profit margin remained almost flat, changing from 3.5% in the same period last year to 3.3%.

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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	142,559	4,030	4,568	2,811	125.9	59.5	Oct 26, 2022	J-GAAP
Apr - Sep, 2023	145,934	4,392	4,917	3,047	136.5	57.1	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	147,376	4,107	4,543	2,715	121.6	52.2	Oct 25, 2024	J-GAAP
YoY	+1.0%	-6.5%	-7.6%	-10.9%	-10.9%

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	149,000	4,500	5,000	3,200	143.3	0	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	147,376	4,107	4,543	2,715	121.6	0	Oct 25, 2024	J-GAAP
Revision Rate	-1.1%	-8.7%	-9.1%	-15.2%	-15.1%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	292,000	8,000	9,000	5,700	255.2	80	Apr 26, 2024	J-GAAP
Mar, 2025 New	289,000	7,800	8,700	5,400	241.8	80	Oct 25, 2024	J-GAAP
Revision Rate	-1.0%	-2.5%	-3.3%	-5.3%	-5.3%

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	140,026	3,209	3,692	1,666	74.6	80	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	141,624	3,693	4,157	2,685	120.2	80	Oct 25, 2024	J-GAAP
YoY	+1.1%	+15.1%	+12.6%	+61.2%	+61.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	281,871	6,611	7,672	4,177	187.1	50	Apr 28, 2023	J-GAAP
Mar, 2024	285,960	7,601	8,609	4,713	211.0	80	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	289,000	7,800	8,700	5,400	241.8	80	Oct 25, 2024	J-GAAP
YoY	+1.1%	+2.6%	+1.1%	+14.6%	+14.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	75,370	2,638	2,882	1,734	77.7	3.5	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	69,896	1,681	1,963	1,259	56.4	2.4	Jan 25, 2024	J-GAAP
Jan - Mar, 2024	70,130	1,528	1,729	407	18.2	2.2	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	71,336	1,605	1,820	1,180	52.9	2.2	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	76,040	2,502	2,723	1,535	68.8	3.3	Oct 25, 2024	J-GAAP
YoY	+0.9%	-5.2%	-5.5%	-11.5%	-11.5%