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

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 41.8 24 Oct 25, 2024 J-GAAP
YoY +5.5% -2.5% -3.0% -25.6% -23.4%

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 2,050 105.9 24 Oct 25, 2024 J-GAAP
YoY +5.4% +24.0% +14.3% +10.6% +13.8%

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%

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