Sumiseki Holdings, Inc., First Half Ordinary Profit Decreases by 58%

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Wed Oct 30, 2024 3:00 pm JST Earnings

1514 Sumiseki Holdings, Inc. 【J-GAAP】

Earnings Report

Sumiseki Holdings, Inc. <1514> [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 58.0% from the same period last year to 2.32 billion yen. The progress rate against the 3.4 billion yen full-year plan was 68.2%, also surpassing the five-year average of 45.2%.

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 significant drop by 58.2% from the same period last year to 1.08 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 2.41 billion yen, a 56.5% decrease compared to the same period last year. The operating profit margin decreased from 61.3% in the same period last year to 53.7%.

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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	24,544	728	702	652	12.1	18.9	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	15,612	5,533	5,523	5,428	103.7	68.1	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	6,188	2,334	2,320	2,310	44.9	68.2	Oct 30, 2024	J-GAAP
YoY	-60.4%	-57.8%	-58.0%	-57.4%	-56.7%

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	6,200	2,300	2,250	2,200	42.8	－	Oct 4, 2024	J-GAAP
Apr - Sep, 2024 Results	6,188	2,334	2,320	2,310	44.9	0	Oct 30, 2024	J-GAAP
Revision Rate	-0.2%	+1.5%	+3.1%	+5.0%	+5.0%

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	6,987	2,476	2,583	2,102	40.4	60	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	10,912	1,066	1,080	990	16.2	25	Oct 30, 2024	J-GAAP
YoY	+56.2%	-56.9%	-58.2%	-52.9%	-59.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	39,893	3,840	3,719	3,667	68.3	7.50	May 15, 2023	J-GAAP
Mar, 2024	22,599	8,009	8,106	7,530	144.7	60	May 15, 2024	J-GAAP
Mar, 2025 Guidance	17,100	3,400	3,400	3,300	54.1	25	Oct 4, 2024	J-GAAP
YoY	-24.3%	-57.5%	-58.1%	-56.2%	-62.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	9,068	5,561	5,536	5,442	103.9	61.3	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	1,270	-126	-146	-128	-2.5	-9.9	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	5,717	2,602	2,729	2,230	42.9	45.5	May 15, 2024	J-GAAP
Apr - Jun, 2024	1,697	-77	-90	-92	-1.8	-4.5	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	4,491	2,411	2,410	2,402	46.7	53.7	Oct 30, 2024	J-GAAP
YoY	-50.5%	-56.6%	-56.5%	-55.9%	-55.1%