Sanwa Holdings Corporation, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 16% Increase, Adds to Record High Profit, Dividend Revised Upward by 16 yen

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Thu Oct 31, 2024 11:30 am JST Earnings

5929 Sanwa Holdings Corporation 【J-GAAP】

Earnings Report

Sanwa Holdings Corporation <5929> [TSE-P] announced its financial results at noon (11:30) on October 31st. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 25.9% from the same period last year, reaching 34.2 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 21.0%, from the previous forecast of 62 billion yen to 75 billion yen (compared to 64.9 billion yen in the previous period), record profits reach four consecutive terms, turning to a 15.6% increase in the consolidated ordinary profit outlook.

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 grow by 8.1% from the same period last year, reaching 40.7 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 78 yen to 94 yen (compared to 78 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 24.0% from the same period last year, reaching 23.4 billion yen. The operating profit margin rose from 12.4% in the same period last year to 13.1%.

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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	268,179	21,494	19,852	13,487	61.0	37.6	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	285,657	27,733	27,163	22,109	100.0	41.9	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	313,827	32,313	34,201	23,775	108.9	45.6	Oct 31, 2024	J-GAAP
YoY	+9.9%	+16.5%	+25.9%	+7.5%	+8.9%

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	313,000	32,000	34,000	23,500	108.0	39	Oct 18, 2024	J-GAAP
Apr - Sep, 2024 Results	313,827	32,313	34,201	23,775	108.9	47	Oct 31, 2024	J-GAAP
Revision Rate	+0.3%	+1.0%	+0.6%	+1.2%	+0.9%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	625,000	62,500	62,000	42,500	195.8	78	May 13, 2024	J-GAAP
Mar, 2025 New	653,000	72,500	75,000	51,000	235.0	94	Oct 31, 2024	J-GAAP
Revision Rate	+4.5%	+16.0%	+21.0%	+20.0%	+20.0%

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	325,450	37,627	37,740	21,119	95.8	49	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	339,173	40,187	40,799	27,225	125.4	47	Oct 31, 2024	J-GAAP
YoY	+4.2%	+6.8%	+8.1%	+28.9%	+31.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	588,159	56,307	52,780	33,084	149.7	58	May 15, 2023	J-GAAP
Mar, 2024	611,107	65,360	64,903	43,228	196.0	78	May 13, 2024	J-GAAP
Mar, 2025 Guidance	653,000	72,500	75,000	51,000	235.0	94	Oct 31, 2024	J-GAAP
YoY	+6.9%	+10.9%	+15.6%	+18.0%	+19.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	153,484	19,063	18,900	16,276	73.6	12.4	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	149,815	13,420	13,415	9,342	42.3	9.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	175,635	24,207	24,325	11,777	53.4	13.8	May 13, 2024	J-GAAP
Apr - Jun, 2024	142,375	9,931	10,774	7,326	33.5	7.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	171,452	22,382	23,427	16,449	75.4	13.1	Oct 31, 2024	J-GAAP
YoY	+11.7%	+17.4%	+24.0%	+1.1%	+2.3%