Watahan & Co.,Ltd., First Half Ordinary Profit Increases by 41%, July-September Ordinary Profit Increases by 6%

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Mon Oct 28, 2024 3:00 pm JST Earnings

3199 Watahan & Co.,Ltd. 【J-GAAP】

Earnings Report

Watahan & Co.,Ltd. <3199> [TSE-P] 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) expanded to 1.78 billion yen, an increase of 41.4% compared to the same period last year. The progress rate against the 3.7 billion yen full-year plan was 48.2%, exceeding the five-year average of 44.6%.

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 3.0% from the same period last year to 1.91 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 6.2% from the same period last year, reaching 923 million yen. The operating profit margin improved from 2.5% in the same period last year to 2.8%.

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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	64,288	1,126	1,422	703	35.4	46.5	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	61,978	1,032	1,261	766	38.5	39.0	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	65,270	1,755	1,783	1,240	62.2	48.2	Oct 28, 2024	J-GAAP
YoY	+5.3%	+70.1%	+41.4%	+61.9%	+61.6%

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	65,270	1,755	1,783	1,240	62.1	0	Oct 25, 2024	J-GAAP
Apr - Sep, 2024 Results	65,270	1,755	1,783	1,240	62.2	0	Oct 28, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	+0.1%

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	66,094	1,790	1,976	1,088	54.6	23	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	69,730	1,745	1,917	810	40.6	24	Oct 25, 2024	J-GAAP
YoY	+5.5%	-2.5%	-3.0%	-25.6%	-25.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	134,299	2,402	3,057	1,653	83.2	22	May 12, 2023	J-GAAP
Mar, 2024	128,072	2,822	3,237	1,854	93.1	23	May 10, 2024	J-GAAP
Mar, 2025 Guidance	135,000	3,500	3,700	2,050	102.7	24	Oct 25, 2024	J-GAAP
YoY	+5.4%	+24.0%	+14.3%	+10.6%	+10.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	32,216	792	869	538	27.0	2.5	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	34,166	1,148	1,224	756	38.0	3.4	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	31,928	642	752	332	16.7	2.0	May 10, 2024	J-GAAP
Apr - Jun, 2024	31,826	826	860	616	30.9	2.6	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	33,444	929	923	624	31.3	2.8	Oct 28, 2024	J-GAAP
YoY	+3.8%	+17.3%	+6.2%	+16.0%	+15.8%