CHUO SPRING CO.,LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 50%, Dividend Revised Upward by 3 yen

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Wed Oct 30, 2024 2:20 pm JST Earnings

5992 CHUO SPRING CO.,LTD. 【J-GAAP】

Earnings Report

CHUO SPRING CO.,LTD. <5992> [TSE-S] announced its financial results in the afternoon session on October 30th (14:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 20.8% from the same period last year to 1.78 billion yen.

However, the full-year consolidated ordinary profit has been revised upward by 50.0%, from the previous forecast of 2 billion yen to 3 billion yen (compared to 3.09 billion yen in the previous period), and the declining rate is expected to decrease from 35.3% to 3.0%.

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 expand by 44.9% from the same period last year, reaching 1.21 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 25 yen to 28 yen (compared to 20 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 393 million yen, a 58.8% decrease compared to the same period last year. However, the operating profit margin significantly improved from 2.8% in the same period last year to 5.9%.

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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	43,403	341	2,043	1,099	44.1	130.0	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	50,344	681	2,256	1,414	56.0	72.9	Oct 30, 2023	J-GAAP
Apr - Sep, 2024	53,256	1,760	1,787	1,248	49.5	59.6	Oct 30, 2024	J-GAAP
YoY	+5.8%	+158.4%	-20.8%	-11.7%	-11.7%

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	ー	ー	ー	ー	－	12.50	Apr 25, 2024	J-GAAP
Apr - Sep, 2024 Results	53,256	1,760	1,787	1,248	49.5	14	Oct 30, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	103,000	1,500	2,000	1,200	47.5	25	Apr 25, 2024	J-GAAP
Mar, 2025 New	106,000	2,700	3,000	1,700	67.4	28	Oct 30, 2024	J-GAAP
Revision Rate	+2.9%	+80.0%	+50.0%	+41.7%	+41.7%

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	50,631	392	837	576	22.8	12	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	52,744	940	1,213	452	17.9	14	Oct 30, 2024	J-GAAP
YoY	+4.2%	+139.8%	+44.9%	-21.5%	-21.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	92,766	354	1,572	481	19.3	18	Apr 26, 2023	J-GAAP
Mar, 2024	100,975	1,073	3,093	1,990	78.8	20	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	106,000	2,700	3,000	1,700	67.4	28	Oct 30, 2024	J-GAAP
YoY	+5.0%	+151.6%	-3.0%	-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	26,338	734	954	610	24.2	2.8	Oct 30, 2023	J-GAAP
Oct - Dec, 2023	27,259	311	166	50	2.0	1.1	Feb 1, 2024	J-GAAP
Jan - Mar, 2024	23,372	81	671	526	20.8	0.3	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	25,520	136	1,394	977	38.7	0.5	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	27,736	1,624	393	271	10.7	5.9	Oct 30, 2024	J-GAAP
YoY	+5.3%	+121.3%	-58.8%	-55.6%	-55.5%