FUJICCO CO., LTD., First Half Ordinary Profit Decreases by 46%, July-September Ordinary Profit Decreases by 46%

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Thu Oct 31, 2024 3:00 pm JST Earnings

2908 FUJICCO CO., LTD. 【J-GAAP】

Earnings Report

FUJICCO CO., LTD. <2908> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 46.4% from the same period last year to 449 million yen. The progress rate against the 2.25 billion yen full-year plan was 20.0%, also falling below the five-year average of 45.4%.

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 expand by 72.7% from the same period last year, reaching 1.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 282 million yen, a 46.0% decrease compared to the same period last year. The operating profit margin worsened from 3.5% in the same period last year to 1.8%.

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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	26,302	534	705	542	18.8	45.3	Oct 31, 2022	J-GAAP
Apr - Sep, 2023	27,466	660	838	579	20.4	44.6	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	28,055	257	449	378	13.3	20.0	Oct 31, 2024	J-GAAP
YoY	+2.1%	-61.1%	-46.4%	-34.7%	-34.7%

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	28,050	250	450	370	13.0	23	Oct 23, 2024	J-GAAP
Apr - Sep, 2024 Results	28,055	257	449	378	13.3	23	Oct 31, 2024	J-GAAP
Revision Rate	+0.0%	+2.8%	-0.2%	+2.2%	+2.2%

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	28,249	870	1,043	531	18.7	23	May 13, 2024	J-GAAP
Oct - Mar, 2024 Guidance	30,445	1,743	1,801	1,172	41.2	23	Oct 31, 2024	J-GAAP
YoY	+7.8%	+100.3%	+72.7%	+120.7%	+120.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	53,915	1,249	1,558	1,406	49.1	46	May 12, 2023	J-GAAP
Mar, 2024	55,715	1,530	1,881	1,110	39.0	46	May 13, 2024	J-GAAP
Mar, 2025 Guidance	58,500	2,000	2,250	1,550	54.5	46	May 13, 2024	J-GAAP
YoY	+5.0%	+30.7%	+19.6%	+39.6%	+39.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	13,832	490	522	377	13.3	3.5	Oct 31, 2023	J-GAAP
Oct - Dec, 2023	15,314	1,001	1,151	815	28.6	6.5	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	12,935	-131	-108	-284	-10.0	-1.0	May 13, 2024	J-GAAP
Apr - Jun, 2024	13,931	6	167	65	2.3	0.0	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	14,124	251	282	313	11.0	1.8	Oct 31, 2024	J-GAAP
YoY	+2.1%	-48.8%	-46.0%	-17.0%	-17.0%