Star Flyer Inc., The Current Fiscal Year Ordinary Profit Revised Downward by 35%

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Thu Oct 31, 2024 3:00 pm JST Earnings

9206 Star Flyer Inc. 【J-GAAP】

Earnings Report

Star Flyer Inc. <9206> [TSE-S] announced its financial results after the market closed on October 31st (15:00). The ordinary profit/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a profit of 641 million yen (compared to a loss of 1.31 billion yen in the same period last year).

However, the full-year ordinary profit has downwardly by 34.9%, from the previous forecast of 1.72 billion yen to 1.12 billion yen (compared to 1.06 billion yen in the previous period), leading to a reduction in the profit growth rate from 62.3% to 5.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to significant drop by 79.8% from the same period last year to 479 million yen.

At the same time, the year-end lump-sum dividend remains undecided.

In the most recent three-month period, from July to September (2Q), the ordinary profit increased by 49.4% from the same period last year, reaching 1.08 billion yen. The operating profit margin drastically improved from 4.3% in the same period last year to 10.8%.

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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	14,743	-2,736	-2,318	-2,277	-715.7	ー	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	19,005	-1,709	-1,310	-1,271	-362.3	ー	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	20,873	312	641	664	186.3	57.2	Oct 31, 2024	J-GAAP
YoY	+9.8%	－	－	－	－

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	ー	ー	ー	ー	－	－	Apr 30, 2024	J-GAAP
Apr - Sep, 2024 Results	20,873	312	641	664	186.3	0	Oct 31, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	42,690	1,210	1,720	1,370	380.6	－	Apr 30, 2024	J-GAAP
Mar, 2025 New	42,440	630	1,120	970	269.5	－	Oct 31, 2024	J-GAAP
Revision Rate	-0.6%	-47.9%	-34.9%	-29.2%	-29.2%

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	21,014	1,799	2,370	2,183	622.6	0	Apr 30, 2024	J-GAAP
Oct - Mar, 2024 Guidance	21,567	318	479	306	85.0	－	Oct 31, 2024	J-GAAP
YoY	+2.6%	-82.3%	-79.8%	-86.0%	-86.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	32,275	-1,317	-704	73	21.9	0	Apr 28, 2023	J-GAAP
Mar, 2024	40,019	90	1,060	912	260.1	0	Apr 30, 2024	J-GAAP
Mar, 2025 Guidance	42,440	630	1,120	970	269.5	－	Oct 31, 2024	J-GAAP
YoY	+6.0%	+600.0%	+5.7%	+6.4%	+3.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	10,164	442	724	623	177.6	4.3	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	10,608	1,455	1,616	1,389	397.5	13.7	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	10,406	344	754	794	226.5	3.3	Apr 30, 2024	J-GAAP
Apr - Jun, 2024	10,068	-854	-441	-598	-169.3	-8.5	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	10,805	1,166	1,082	1,262	354.1	10.8	Oct 31, 2024	J-GAAP
YoY	+6.3%	+163.8%	+49.4%	+102.6%	+99.4%