Imperial Hotel, Ltd., First Half Ordinary Profit Decreases by 71%, July-September Ordinary Profit Turns to Loss

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Wed Oct 30, 2024 3:00 pm JST Earnings

9708 Imperial Hotel, Ltd. 【J-GAAP】

Earnings Report

Imperial Hotel, Ltd. <9708> [TSE-S] announced its financial results after the market closed on October 30th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 70.9% from the same period last year to 277 million yen. The progress rate against the 1.85 billion yen full-year plan was 15.0%, also falling below the same period of the previous year of 28.9%.

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 drop by 32.9% from the same period last year to 1.57 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 416 million yen (compared to a profit of 147 million yen in the same period last year). The operating profit/loss margin drastically worsened from 0.2% in the same period last year to -4.9%.

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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	18,607	-1,012	-64	136	1.2	ー	Oct 28, 2022	J-GAAP
Apr - Sep, 2023	24,238	767	951	927	7.8	28.9	Oct 27, 2023	J-GAAP
Apr - Sep, 2024	24,739	72	277	260	2.2	15.0	Oct 30, 2024	J-GAAP
YoY	+2.1%	-90.6%	-70.9%	-72.0%	-71.9%

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	25,000	0	200	150	1.3	2	Jul 26, 2024	J-GAAP
Apr - Sep, 2024 Results	24,739	72	277	260	2.2	2	Oct 30, 2024	J-GAAP
Revision Rate	-1.0%	－	+38.5%	+73.3%	+74.6%

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	29,097	2,072	2,345	2,450	20.7	4	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	28,261	1,428	1,573	1,540	13.0	4	Oct 30, 2024	J-GAAP
YoY	-2.9%	-31.1%	-32.9%	-37.1%	-37.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	43,772	348	1,652	1,951	16.5	4	May 11, 2023	J-GAAP
Mar, 2024	53,335	2,839	3,296	3,377	28.5	6	May 10, 2024	J-GAAP
Mar, 2025 Guidance	53,000	1,500	1,850	1,800	15.2	6	Jul 26, 2024	J-GAAP
YoY	-0.6%	-47.2%	-43.9%	-46.7%	-46.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	11,766	20	147	138	1.2	0.2	Oct 27, 2023	J-GAAP
Oct - Dec, 2023	15,528	2,257	2,351	2,340	19.7	14.5	Jan 30, 2024	J-GAAP
Jan - Mar, 2024	13,569	-185	-6	110	0.9	-1.4	May 10, 2024	J-GAAP
Apr - Jun, 2024	13,326	629	693	684	5.8	4.7	Jul 26, 2024	J-GAAP
Jul - Sep, 2024	11,413	-557	-416	-424	-3.6	-4.9	Oct 30, 2024	J-GAAP
YoY	-3.0%	－	－	－	－