Sakai Moving Service Co.,Ltd., First Half Ordinary Profit Decreases by 6%, Current Fiscal Year Dividend Revised Upward by 19 yen

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Thu Oct 31, 2024 2:20 pm JST Earnings

9039 Sakai Moving Service Co.,Ltd. 【J-GAAP】

Earnings Report

Sakai Moving Service Co.,Ltd. <9039> [TSE-P] announced its financial results in the afternoon session on October 31st (14:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 6.3% from the same period last year to 6.73 billion yen. However, The progress rate against the 13.1 billion yen full-year plan was 51.3%, almost the same as the five-year average of 53.6%.

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 grow by 11.7% from the same period last year, reaching 6.38 billion yen.

At the same time, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 55 yen to 74 yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 1.45 billion yen, a 2.8% decrease compared to the same period last year. The operating profit margin worsened from 5.8% in the same period last year to 5.4%.

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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	54,428	6,305	6,424	4,480	110.2	53.2	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	57,070	7,088	7,183	4,806	118.2	55.7	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	59,193	6,607	6,734	4,537	111.6	51.3	Oct 31, 2024	J-GAAP
YoY	+3.7%	-6.8%	-6.3%	-5.6%	-5.6%

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	58,747	6,640	6,750	4,516	111.1	15	May 8, 2024	J-GAAP
Apr - Sep, 2024 Results	59,193	6,607	6,734	4,537	111.6	15	Oct 31, 2024	J-GAAP
Revision Rate	+0.8%	-0.5%	-0.2%	+0.5%	+0.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	120,396	12,943	13,122	8,501	209.1	55	May 8, 2024	J-GAAP
Mar, 2025 New	120,396	12,943	13,122	8,501	209.1	74	Oct 31, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	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	59,791	5,656	5,721	3,553	87.4	38	May 8, 2024	J-GAAP
Oct - Mar, 2024 Guidance	61,203	6,336	6,388	3,964	97.5	59	Oct 31, 2024	J-GAAP
YoY	+2.4%	+12.0%	+11.7%	+11.6%	+11.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	109,556	11,845	12,080	8,210	201.9	47.50	May 8, 2023	J-GAAP
Mar, 2024	116,861	12,744	12,904	8,359	205.6	53	May 8, 2024	J-GAAP
Mar, 2025 Guidance	120,396	12,943	13,122	8,501	209.1	74	Oct 31, 2024	J-GAAP
YoY	+3.0%	+1.6%	+1.7%	+1.7%	+1.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	25,286	1,457	1,492	958	23.6	5.8	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	24,922	1,763	1,795	1,136	27.9	7.1	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	34,869	3,893	3,926	2,417	59.5	11.2	May 8, 2024	J-GAAP
Apr - Jun, 2024	32,915	5,199	5,284	3,595	88.4	15.8	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	26,278	1,408	1,450	942	23.2	5.4	Oct 31, 2024	J-GAAP
YoY	+3.9%	-3.4%	-2.8%	-1.7%	-1.7%