PACIFIC INDUSTRIAL CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 7%

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Mon Oct 28, 2024 3:40 pm JST Earnings

7250 PACIFIC INDUSTRIAL CO.,LTD. 【J-GAAP】

Earnings Report

PACIFIC INDUSTRIAL CO.,LTD. <7250> [TSE-P] announced its financial results after the market closed on October 28th (15:40). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 37.3% from the same period last year to 6.47 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 6.9%, from the previous forecast of 14.5 billion yen to 13.5 billion yen (compared to 18.8 billion yen in the previous period), leading to an increase in the profit decline rate from 23.0% to 28.3%.

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 decrease by 17.4% from the same period last year to 7.02 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 1.33 billion yen, a 73.7% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.1% in the same period last year to 4.4%.

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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	90,911	2,601	5,542	4,131	68.8	42.0	Oct 26, 2022	J-GAAP
Apr - Sep, 2023	102,655	7,494	10,331	7,531	128.3	54.8	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	99,578	4,902	6,473	5,328	92.1	47.9	Oct 28, 2024	J-GAAP
YoY	-3.0%	-34.6%	-37.3%	-29.3%	-28.2%

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	99,000	5,000	7,000	5,500	96.1	26	Jul 25, 2024	J-GAAP
Apr - Sep, 2024 Results	99,578	4,902	6,473	5,328	92.1	26	Oct 28, 2024	J-GAAP
Revision Rate	+0.6%	-2.0%	-7.5%	-3.1%	-4.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	201,000	11,500	14,500	11,000	192.3	52	Jul 25, 2024	J-GAAP
Mar, 2025 New	197,000	11,000	13,500	10,500	183.5	52	Oct 28, 2024	J-GAAP
Revision Rate	-2.0%	-4.3%	-6.9%	-4.5%	-4.5%

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	104,693	6,962	8,505	9,443	161.0	55	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	97,422	6,098	7,027	5,172	90.4	26	Oct 28, 2024	J-GAAP
YoY	-6.9%	-12.4%	-17.4%	-45.2%	-43.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	191,254	9,298	13,209	9,301	155.3	42	Apr 27, 2023	J-GAAP
Mar, 2024	207,348	14,456	18,836	16,974	289.5	77	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	197,000	11,000	13,500	10,500	183.5	52	Oct 28, 2024	J-GAAP
YoY	-5.0%	-23.9%	-28.3%	-38.1%	-36.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	53,354	4,347	5,077	3,575	60.9	8.1	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	53,328	3,746	4,014	3,374	57.5	7.0	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	51,365	3,216	4,491	6,069	103.5	6.3	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	51,721	2,778	5,137	4,244	72.8	5.4	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	47,857	2,124	1,336	1,084	18.7	4.4	Oct 28, 2024	J-GAAP
YoY	-10.3%	-51.1%	-73.7%	-69.7%	-69.2%