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SANEI LTD., First Half Ordinary Profit Revised Downward to an Unexpected 17%Decrease

Mon Oct 28, 2024 3:00 pm JST Earnings

6230 SANEI LTD. 【J-GAAP】

Earnings Report

SANEI LTD. <6230> [TSE-S] announced its financial results after the market closed on October 28th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 16.8% from the same period last year to 615 million yen, resulting in a decrease in profits compared to the previous forecast of a 34.0% increase.

The progress rate against the 2.04 billion yen full-year plan was 30.1%, also falling below the five-year average of 33.9%.

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 grow by 15.5% from the same period last year, reaching 1.42 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 215 million yen, a 50.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 7.0% in the same period last year to 3.7%.

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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 12,633 103 89 -32 -7.0 9.8 Oct 31, 2022 J-GAAP
Apr - Sep, 2023 13,170 743 739 485 106.2 37.5 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 13,581 662 615 469 102.6 30.1 Oct 28, 2024 J-GAAP
YoY +3.1% -10.9% -16.8% -3.3% -3.4%

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 13,950 990 990 680 148.5 30 Jul 29, 2024 J-GAAP
Apr - Sep, 2024 Results 13,581 662 615 469 102.6 30 Oct 28, 2024 J-GAAP
Revision Rate -2.6% -33.1% -37.9% -31.0% -31.0%

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 14,362 1,232 1,234 863 188.6 29.50 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 14,919 1,378 1,425 931 203.4 30 Oct 28, 2024 J-GAAP
YoY +3.9% +11.9% +15.5% +7.9% +7.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 26,564 906 906 630 137.7 48 May 10, 2023 J-GAAP
Mar, 2024 27,532 1,975 1,973 1,348 294.6 54 May 10, 2024 J-GAAP
Mar, 2025 Guidance 28,500 2,040 2,040 1,400 305.8 60 Sep 17, 2024 J-GAAP
YoY +3.5% +3.3% +3.4% +3.9% +3.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 6,359 447 438 276 60.4 7.0 Oct 27, 2023 J-GAAP
Oct - Dec, 2023 7,194 730 719 486 106.2 10.1 Jan 29, 2024 J-GAAP
Jan - Mar, 2024 7,168 502 515 377 82.4 7.0 May 10, 2024 J-GAAP
Apr - Jun, 2024 6,786 410 400 299 65.5 6.0 Jul 29, 2024 J-GAAP
Jul - Sep, 2024 6,795 252 215 170 37.2 3.7 Oct 28, 2024 J-GAAP
YoY +6.9% -43.6% -50.9% -38.4% -38.5%

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