IINO KAIUN KAISHA, LTD., The Current Fiscal Year Ordinary Profit Revised Downward by 8%

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Thu Oct 31, 2024 2:00 pm JST Earnings

9119 IINO KAIUN KAISHA, LTD. 【J-GAAP】

Earnings Report

IINO KAIUN KAISHA, LTD. <9119> [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) decreased by 13.6% from the same period last year to 8.95 billion yen.

In addition, the full-year consolidated ordinary profit has downwardly by 8.2%, from the previous forecast of 18.4 billion yen to 16.9 billion yen (compared to 21.8 billion yen in the previous period), leading to an increase in the profit decline rate from 15.6% to 22.5%.

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 30.5% from the same period last year to 7.95 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 2.53 billion yen, a 52.3% decrease compared to the same period last year. The operating profit margin decreased from 14.5% in the same period last year to 12.7%.

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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	70,474	10,415	11,768	14,369	135.8	56.4	Nov 4, 2022	J-GAAP
Apr - Sep, 2023	67,573	8,820	10,357	9,667	91.4	47.5	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	73,998	9,892	8,950	9,629	91.0	53.0	Oct 31, 2024	J-GAAP
YoY	+9.5%	+12.2%	-13.6%	-0.4%	-0.4%

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	75,000	10,700	9,500	9,600	90.7	25	Jul 31, 2024	J-GAAP
Apr - Sep, 2024 Results	73,998	9,892	8,950	9,629	91.0	25	Oct 31, 2024	J-GAAP
Revision Rate	-1.3%	-7.6%	-5.8%	+0.3%	+0.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	145,000	19,200	18,400	17,200	162.6	49	Jul 31, 2024	J-GAAP
Mar, 2025 New	146,000	17,400	16,900	17,200	162.6	49	Oct 31, 2024	J-GAAP
Revision Rate	+0.7%	-9.4%	-8.2%	0.0%	0.0%

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	70,377	10,243	11,443	10,078	95.3	31	May 7, 2024	J-GAAP
Oct - Mar, 2024 Guidance	72,002	7,508	7,950	7,571	71.6	24	Oct 31, 2024	J-GAAP
YoY	+2.3%	-26.7%	-30.5%	-24.9%	-24.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	141,324	20,017	20,858	23,378	221.0	65	May 9, 2023	J-GAAP
Mar, 2024	137,950	19,063	21,800	19,745	186.6	56	May 7, 2024	J-GAAP
Mar, 2025 Guidance	146,000	17,400	16,900	17,200	162.6	49	Oct 31, 2024	J-GAAP
YoY	+5.8%	-8.7%	-22.5%	-12.9%	-12.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	34,775	5,044	5,313	4,921	46.5	14.5	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	35,894	5,514	4,863	5,402	51.1	15.4	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	34,483	4,729	6,580	4,676	44.2	13.7	May 7, 2024	J-GAAP
Apr - Jun, 2024	38,167	5,329	6,414	6,744	63.7	14.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	35,831	4,563	2,536	2,885	27.3	12.7	Oct 31, 2024	J-GAAP
YoY	+3.0%	-9.5%	-52.3%	-41.4%	-41.4%