Sotetsu Holdings,Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 6%, Highest in Six Terms, Dividend Revised Upward by 10 yen

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Thu Oct 31, 2024 2:00 pm JST Earnings

9003 Sotetsu Holdings,Inc. 【J-GAAP】

Earnings Report

Sotetsu Holdings,Inc. <9003> [TSE-P] announced its financial results in the afternoon session on October 31st (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 20.7 billion yen, an increase of 65.1% compared to the same period last year, exceeded the previous forecast of 15.9 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 6.3%, from the previous forecast of 28.8 billion yen to 30.6 billion yen (compared to 26.9 billion yen in the previous period), increasing the growth rate from 6.7% to 13.4%, reaches new record high for the first time in six terms.

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 drop by 31.9% from the same period last year to 9.81 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 50 yen to 60 yen (compared to 50 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 7.1% from the same period last year, reaching 6.15 billion yen. The operating profit margin rose from 10.2% in the same period last year to 11.1%.

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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	115,098	4,529	4,069	2,396	24.5	32.0	Nov 2, 2022	J-GAAP
Apr - Sep, 2023	124,350	13,081	12,586	8,947	91.3	46.6	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	148,466	21,862	20,782	15,253	155.7	67.9	Oct 31, 2024	J-GAAP
YoY	+19.4%	+67.1%	+65.1%	+70.5%	+70.5%

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	148,200	17,300	15,900	11,100	113.3	25	Apr 26, 2024	J-GAAP
Apr - Sep, 2024 Results	148,466	21,862	20,782	15,253	155.7	30	Oct 31, 2024	J-GAAP
Revision Rate	+0.2%	+26.4%	+30.7%	+37.4%	+37.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	290,700	31,800	28,800	19,100	195.0	50	Apr 26, 2024	J-GAAP
Mar, 2025 New	291,700	33,600	30,600	20,800	212.3	60	Oct 31, 2024	J-GAAP
Revision Rate	+0.3%	+5.7%	+6.3%	+8.9%	+8.9%

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	145,689	15,884	14,409	7,133	72.8	30	Apr 26, 2024	J-GAAP
Oct - Mar, 2024 Guidance	143,234	11,738	9,818	5,547	56.6	30	Oct 31, 2024	J-GAAP
YoY	-1.7%	-26.1%	-31.9%	-22.2%	-22.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	249,667	14,348	12,735	6,980	71.3	25	Apr 27, 2023	J-GAAP
Mar, 2024	270,039	28,965	26,995	16,080	164.1	50	Apr 26, 2024	J-GAAP
Mar, 2025 Guidance	291,700	33,600	30,600	20,800	212.3	60	Oct 31, 2024	J-GAAP
YoY	+8.0%	+16.0%	+13.4%	+29.4%	+29.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	62,657	6,373	5,741	3,849	39.3	10.2	Nov 2, 2023	J-GAAP
Oct - Dec, 2023	66,808	8,298	7,608	5,005	51.1	12.4	Feb 2, 2024	J-GAAP
Jan - Mar, 2024	78,881	7,586	6,801	2,128	21.7	9.6	Apr 26, 2024	J-GAAP
Apr - Jun, 2024	80,998	14,362	14,632	10,529	107.5	17.7	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	67,468	7,500	6,150	4,724	48.2	11.1	Oct 31, 2024	J-GAAP
YoY	+7.7%	+17.7%	+7.1%	+22.7%	+22.7%