Vega corporation Co.,Ltd., First Half Ordinary Profit Increases by 8.3 times

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Thu Oct 31, 2024 3:00 pm JST Earnings

3542 Vega corporation Co.,Ltd. 【J-GAAP】

Earnings Report

Vega corporation Co.,Ltd. <3542> [TSE-G] announced its financial results after the market closed on October 31st (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) surged by 8.3 times that of the same period last year, reaching 298 million yen. However, The progress rate against the 1.2 billion yen full-year plan was 24.8%, also falling below the five-year average of 38.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow by 19.6% from the same period last year, reaching 902 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 46.2% from the same period last year, reaching 95 million yen. The operating profit margin improved from 1.6% in the same period last year to 2.6%.

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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	8,286	115	130	59	5.7	35.7	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	7,905	27	36	24	2.3	4.6	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	7,123	294	298	191	18.5	24.8	Oct 31, 2024	J-GAAP
YoY	-9.9%	+988.9%	+727.8%	+695.8%	+693.1%

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	7,600	400	400	240	23.2	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	7,123	294	298	191	18.5	0	Oct 31, 2024	J-GAAP
Revision Rate	-6.3%	-26.5%	-25.5%	-20.4%	-20.4%

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	8,158	744	754	370	35.5	10	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,877	906	902	529	51.1	11	Oct 31, 2024	J-GAAP
YoY	+21.1%	+21.8%	+19.6%	+43.0%	+43.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	16,973	338	364	120	11.5	10	May 15, 2023	J-GAAP
Mar, 2024	16,063	771	790	394	37.8	10	May 15, 2024	J-GAAP
Mar, 2025 Guidance	17,000	1,200	1,200	720	69.5	11	May 15, 2024	J-GAAP
YoY	+5.8%	+55.6%	+51.9%	+82.7%	+83.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,751	61	65	43	4.2	1.6	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	3,907	275	283	86	8.3	7.0	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	4,251	469	471	284	27.3	11.0	May 15, 2024	J-GAAP
Apr - Jun, 2024	3,598	202	203	130	12.6	5.6	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	3,525	92	95	61	5.9	2.6	Oct 31, 2024	J-GAAP
YoY	-6.0%	+50.8%	+46.2%	+41.9%	+41.5%